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Day: September 10, 2020
September 102020
Euro Rallies on ECB Rate Decision and High US Jobless Claims
The euro today held on to its gains after the European Central Bank announced its interest rate decision, which was in line with analysts expectations. The EUR/USD currency pair extended its bullish trend during the ECB Governor’s speech, which was relatively hawkish. The EUR/USD currency pair today rallied from an initial low of 1.1800 during the Australian session to a high of 1.1893 during Lagarde’s speech and was headed higher […]
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September 102020
US Dollar Slumps As Initial Jobless Claims Flat, Producer Prices Fall
The US dollar is slumping against many of its G10 currency rivals on Thursday after the latest jobs data was flat, and producer prices declined. The greenback had been staging a comeback for more than a week, but the buck looks to be going through a modest correction toward the end of the holiday-shortened trading week. According to the Department of Labor, the number of Americans filing for first-time unemployment benefits came in at 884,000 for the week ending September […]
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September 102020
GBP/CAD Switched Target to 1.6724?
The Great Britain pound versus the Canadian dollar currency pair seems to have been taken over by the bears. Do the bulls have any chances left? Long-term perspective The appreciation that started from the double bottom market by the 1.6750 and 1.6769 lows, respectively, managed to climb until the 1.7674 peak. In the process, the firm 1.7567 resistance level has been pierced, but as the price retraced soon afterward, the piercing was rendered as a false […]
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