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Day: September 1, 2020
September 12020
Chinese Yuan Extends Winning Streak As Manufacturing Activity Beats Estimates
The Chinese yuan is continuing its appreciation against the US dollar on Tuesday as better-than-expected manufacturing activity and continued stimulus in the banking system extended the currencyâs winning streak. The yuan has been strengthening against the greenback since the height of the coronavirus pandemic, and it is now testing the 6.8 range. In August, the Caixin/IHS Markit manufacturing purchasing managersâ index (PMI) came in at 53.1, up from 52.8 in July â anything above 50 […]
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September 12020
Next Target on GBP/USD: 1.3504?
The Great Britain pound versus the US dollar currency pair managed to overcome an important resistance area. But is this movement sustainable? Long-term perspective After etching the 1.2075 low, thus validating the 1.2092 area as support, the price began an ascending trend that, after piercing two intermediary levels, 1.2777 and 1.3000, respectively, put the bulls in such a good mood that they extended the impulsive swing until the triple resistance […]
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