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Day: September 7, 2020
September 72020
US Dollar Index Tops 93.00 As Bullish Data Supports Greenback
The US dollar is continuing its winning streak on foreign exchange markets during the Labor Day holiday. The greenback has been staging a rebound over the last several trading sessions after cratering 11% since hitting a peak of 103.00 earlier this year at the height of the coronavirus pandemic. The buck has been rallying on a multitude of factors, including bullish economic data and COVID-19 concerns, but analysts are still maintaining a bearish […]
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September 72020
Pound Sinks as Threat of No-Deal Brexit Rises
The Great Britain pound fell against all other most-traded currencies today as the no-deal Brexit looks more and more likely. Better-than-expected housing data released in Britain on Monday did nothing to help the currency. According to reports, the UK government is preparing the internal market bill that will undermine parts of the Withdrawal Agreement reached between the United Kingdom and the European Union. It will complicate negotiations between the UK and the EU and can […]
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September 72020
Bulls Challenged from 0.7320 on AUD/USD
The Australian versus the US dollar currency pair slipped under the major 0.7320 level. Are the bears coming back? Long-term perspective The appreciation that started from the 0.5701 low extended until the 0.7413 high. Reaching the high also meant piercing the firm 0.7230 level. So, as the bulls inscribed the price above the level, the expectations were for the level to be validated as support. However, the price slipped sharply under 0.7230, printing the low […]
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