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Day: October 9, 2020
October 92020
Canadian Dollar Rallies Against US Peer on Upbeat Jobs Data
The Canadian dollar today rallied against its US peer fueled by the positive Canadian jobs report and the upbeat investor sentiment. The USD/CAD fell for the third straight session as the commodity-linked loonie rallied higher capitalising on the greenback’s weakness over the same period. The USD/CAD currency pair today fell from an opening high of 1.3196 during the Australian market to a low of 1.3116 during the American session and was trading near these lows at the time of writing. […]
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October 92020
Mexican Peso Strengthens As Inflation Slows, Economic Data Improves
The Mexican peso is strengthening against some of its peers to close out the trading week, buoyed by slowing inflation and improving macroeconomic data. The peso has been one of the top-performing Latin American currencies in recent months, despite the coronavirus pandemic failing to subside and the public health crisis affecting the regionâs second-largest economy. Last month, the consumer price index (CPI) rose 0.23%, down from the 0.39% increase in August. At an annualized rate, […]
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October 92020
Sterling Pound Rallies Despite UK GDP Missing Estimates
The pound today edged higher against the US dollar despite the UK’s latest GDP print missing expectations boosted by the positive investor sentiment. The GBP/USD currency pair was also lifted by news that the Rishi Sunak would announce a new jobs support programme later today fueling Britain’s economic recovery. The GBP/USD currency pair today rallied from a low of 1.2921 in the mid-London session to a high of 1.2988 and was trading near […]
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October 92020
Bearish Resistance at 106.12 on USD/JPY?
The United States dollar versus the Japanese yen currency pair may have trouble passing the 106.12 level. Is this just a bullish pause? Long-term perspective The drop from the 111.71 peak delivered two flats. The first one is limited by 109.00 as resistance — with the amendment of the 109.85 fake breakout — and 107.00 as support — joined by two false piercings that were bounded by the 106.12 intermediary level. The second is confined within […]
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