Day: September 3, 2020

September 3
2020

USD/CAD Rises As Initial Jobless Claims Fall to New Pandemic Low

The US dollar is looking to continue its winning streak on Thursday after the federal government reported that the number of Americans filing for first-time unemployment benefits plunged to a new COVID-19 pandemic low. Although the number remains historically high, the trends suggest the labor market is extending its rebound. But while the greenback has cratered in recent months, is the string of gains a signal that the currency is triggering a rally? According […]

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September 3
2020

Australian Dollar Weak After Trade Balance Shrinks

The Australian dollar was weak today, falling against almost all other most-traded currencies. Some market analysts blamed the decline on the disappointing trade data released in Australia during the trading session, while others thought that it might be just a corrective sell-off after the incredibly good performance last month. The Australian Bureau of Statistics reported that the trade balance surplus shrank to A$4.61 billion in July from A$8.15 […]

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September 3
2020

GBP/CAD Ebbs from the Major 1.7567 Resistance

The Great Britain pound versus the Canadian dollar currency pair rotated and began a depreciation. Is this a small correction, or the bears truly took over? Long-term perspective After the double bottom chart pattern etched by the 1.6750 and 1.6769 lows, respectively, the price started an appreciation that reached the firm 1.7567 resistance level. Upon arrival, the bulls attempted to conquer the level but were only able to print the 1.7674 high before the price […]

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