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Day: October 5, 2020
October 52020
Chinese Yuan Flat After Having Best Quarter in a Decade
The Chinese yuan is trading flat against the US dollar, but it has topped 8.0 against the euro to kick off the trading week. The yuan is coming off its best quarter in more than a decade as analysts warn think the yuan could become the next safe-haven currency amid volatility. Can the yuan test 6.6 in the final quarter of 2020? The broader financial market has been surprised by the yuan’s appreciation […]
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October 52020
AUD/USD Under 0.7191. Have the Bulls Met Resistance?
The Australian versus the US dollar currency pair slipped under the 0.7193 level and looks like it has difficulties in regaining it. Could this be a bearish sign? Long-term perspective The appreciation that started from the 0.5701 low advanced until the 0.7413 high. However, after falling beneath 0.7320, the price began a descending movement, as the bullish attempt to validate 0.7191 as support failed. The bullish missed effort left the bears with […]
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