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Day: October 19, 2020
October 192020
Chinese Yuan Strengthens Against USD on Upbeat GDP, Retail Sales
The Chinese yuan reversed its recent downward trend against the US dollar to kick off the trading week, breaking below 6.7 on positive economic data. The latest figures show that the post-coronavirus recovery is doing well, from growth to retail sales. This has Beijing anticipating that the worldâs second-largest economy will be one of the few Asian countries to report growth in 2020. How will this benefit the currency? […]
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October 192020
Safety Net at 0.7010 on AUD/USD for the Pressured Bulls?
The Australian versus the US dollar currency pair seems to have a hard time resuming the upward movement. It is the trend approaching the end of its evolution? Long-term perspective After the rise that started following the validation as support of the 0.5516 firm area, the price started an ascending trend. The first part of this unfolding was under strict bullish control, as they conquered 0.6386 fairly quickly. Their next objective, 0.7010, required […]
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