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Day: October 12, 2020
October 122020
Swiss Franc Mixed After Positive Revision of Economic Forecasts
The Swiss franc was mixed today following the release of an updated economic forecast from Switzerland’s government. The State Secretariat for Economic Affairs released an updated economic forecast for 2020 and 2021. The updated forecast predicts that gross domestic product adjusted for sports events will fall by 3.8% this year, which is better than the July forecast of a 6.2% drop. The Consumer Price Index is expected to fall by 0.7%, whereas the previous […]
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October 122020
US Dollar Flat As Investors Weigh Fiscal Stimulus Talks, Wait for Inflation Data
The US dollar is kick off the trading week relatively flat, hovering at its lowest level in three weeks. With not much economic data to work with, investors are weighing fiscal stimulus in Washington and the 2020 presidential election in a couple of weeks. Will traders adopt a wait-and-see approach to the greenback for the remainder of October? On Sunday, President Donald Trump urged Congress to approve a stripped-down version of the fiscal stimulus and relief package. The White […]
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October 122020
Japanese Yen Gains During Monday’s Quiet Trading
The Japanese yen gained, rising against all other most-traded currencies, during Monday’s quiet trading. Today’s calendar is light in terms of macroeconomic releases, and trading is expected to be quieter than usual due to holidays in the United States and Canada. As for today’s economic reports in Japan itself, they were mixed. The Bank of Japan reported that the Producer Price Index fell by 0.8% in September, year-on-year, after declining by 0.6% in August. […]
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October 122020
Bulls Set for 0.7320 on AUD/USD?
The Australian versus the United States dollar currency pair seems to be determined to reach for 0.7320. Long-term perspective The rise that took place from the 0.5701 low extended all the way to the 0.7413 high. From there, the price slipped under the 0.7320 level, which had just been pierced. The resulting drop reached the next support area, 0.7191. From 0.7191, the bulls attempted a recovery, but their efforts were limited […]
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