Day: October 26, 2020

October 26
2020

Euro Falls on Rising Eurozone COVID-19 Cases, Risk-Off Sentiment

The euro today fell against the US dollar as investors sold the single currency amid rising coronavirus cases within the euro area dampening investor sentiment. The EUR/USD currency pair’s decline was further fueled by the stalemate in the US stimulus talks ahead of next week’s Presidential election as equity markets sold off. The EUR/USD currency pair today fell from an opening high of 1.1850 to a low of 1.1803 in the early European market before […]

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October 26
2020

Chinese Yuan Retreats From 27-Month High as Officials Tolerate Currency’s Appreciation

The Chinese yuan is retreating from its highest level against the US dollar in 27 months, despite officials revealing they will tolerate the currency’s appreciation against the greenback – for now. The acceptance of the yuan’s enormous climb has signaled that policymakers are prepared to potentially alter the currency’s strategy in the global economy, fueling its aspirations to make the yuan a global reserve currency that rivals the buck and other counterparts. Wang […]

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October 26
2020

Japanese Yen Mixed During Monday’s Quiet Trading

The Japanese yen was mixed today, rising against some peers and falling against others. Generally, though, the yen did not move far as trading was rather quiet on Monday. The Bank of Japan will hold a monetary policy meeting on Thursday. The general consensus among analysts is that the central bank will leave its monetary policy unchanged, though some of them speculate that the bank may downgrade its […]

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October 26
2020

For How Long Are the Bulls Going to Wait for 0.7320 on AUD/USD?

The Australian versus the United States dollar currency pair is making lower highs, but the bulls may be just around the corner. Long-term perspective The rise in which the Australian dollar finds itself since the middle of March extended until the 07413 high. As can be seen, from the 0.6873 intermediary level, the appreciation lost part of its steam. Nevertheless, two important levels were conquered: 0.7010 and 0.7191. However, the next […]

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