Day: August 27, 2020

August 27
2020

Euro Swings Between Gains and Losses on Powell’s Speech

The euro today alternated between gains and losses against the US dollar swinging wildly between gains and losses ahead of Jerome Powell speech. The EUR/USD currency pair spiked higher and then crashed lower during the Fed Chair’s speech creating uncertain trading conditions for most traders. The EUR/USD currency pair today spiked to a high of 1.1901 during the Jackson Hole speech before crashing to a low of 1.1762 and was within the range at the time […]

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August 27
2020

US Dollar Slumps As Federal Reserve Announces New Inflation Approach

The US dollar is slumping toward the end of the trading week after the Federal Reserve announced a new approach to inflation that would keep interest rates lower for longer. The greenback is also in the red after initial jobless claims topped one million for the second consecutive week. With inflation almost certain for the next few years, does this spell bad news for the buck? Fed Chair Jerome Powell announced a major […]

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August 27
2020

GBP/CAD Recovers from 1.7285

The Great Britain pound versus the Canadian dollar currency pair succeeded in recovering after the price went beneath 1.7216. But is this a sustainable rise? Long-term perspective The rally from the 1.6542 low, limited by the 1.7567 resistance level, allowed a fall to take place, one that almost touched the 1.6724 area, but stopped after printing the 1.6750 and 1.6769 lows. From the lows, the bulls attempted another push against the firm […]

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