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Day: October 13, 2020
October 132020
Euro Falls Against Dollar on Risk-Off Sentiment As Investors Flee
The euro today fell against the dollar driven by the risk-off market sentiment as investors fled the riskier assets in favour of fo safe-haven instruments such as the dollar. The EUR/USD currency pair fell over 80 pips as markets reacted to news that Johnson & Johnson was pausing its COVID-19 vaccine trial due to unexplained illnesses. The EUR/USD currency pair today fell from an initial high of 1.1813 in the Australian market to a low of 1.1730 […]
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October 132020
Chinese Yuan Extends Losing Streak on PBoC Move, Exports
The Chinese yuan is extending its losing streak against a basket of major currency rivals on Tuesday. The yuan, which recently suffered its worst one-day drop in seven months, slumped on slightly lower-than-expected trade data. With more economic data being released this week, the yuan could come under a lot of pressure and reverse its significant 2020 rally. According to the General Administration of Customs, China’s trade surplus slipped […]
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October 132020
1.3000 on GBP/USD Conquered by the Bulls?
The Great Britain pound versus the United States dollar currency pair seems to be willing to head north. Do the bulls have enough steam for that? Long-term perspective After the appreciation that came about following the confirmation of 1.1476 as support, the price started an ascending trend. The first impulsive swing, which started after a relative range trading phase, extended from the 1.2075 low to the 1.2818 high. After the correction that joins […]
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