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Day: October 8, 2020
October 82020
Euro Falls Against Strong Dollar Despite Revived Stimulus Talks
The euro today fell against the US dollar driven by the risk-off market mood, which saw riskier assets selloff in favour of safe-haven assets such as the greenback. The EUR/USD currency pair’s decline occurred at a major resistance level as sellers stepped in driving the pair to its daily lows buoyed by the weak German data. The EUR/USD currency pair today rallied to a high of 1.1781 in the early Frankfurt session before falling to a low of 1.1733 in the early American […]
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October 82020
US Dollar Seeks Direction As Initial Jobless Claims Fall to Fresh Pandemic Low
The US dollar is searching for direction on Thursday after the number of Americans filing for first-time unemployment benefits fell to a fresh pandemic low. But the latest numbers indicate that jobless claims are sliding at a sluggish pace as hiring slows down. With Washington in a stalemate over stimulus funding, it might be hard to forecast the greenbackâs performance in the short-term amid political uncertainty. According to the Department of Labor, initial jobless claims came […]
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October 82020
1.7285 Next Target for GBP/CAD?
The Great Britain pound versus the Canadian dollar currency pair seems to have found support at 1.7132. Are the bulls ready for a new march? Long-term perspective After the retracement that came about with the definition on the chart of the 1.6542 low, the market entered into an extended range trading phase, limited by 1.7567 as resistance and 1.6724 as support. The last upward pointing movement came into being after the price noted the double bottom highlighted […]
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