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Day: November 6, 2020
November 62020
Canadian Dollar Rallies Against US Peer Despite Weak Jobs Data
The Canadian dollar today rallied against its US peer as the US Presidential election continued to weigh on the greenback overshadowing the positive jobs data. The USD/CAD currency pair today fell to new 10-week lows as the loonie got an edge against the greenback as Joe Biden secured a significant lead over incumbent President Donald Trump. The USD/CAD currency pair today fell from a high of 1.3096 in the Asian session to a low of 1.3020 during […]
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November 62020
US Dollar Struggles on Better-Than-Expected October Jobs Report
The US dollar is struggling to plug the hemorrhaging to finish the trading week. The greenback has been cratering against many of its major currency peers this week as a bit more certainty over the 2020 election result and a substantial rally in stocks sent the buck lower. With a better-than-expected October jobs report, is the dollar in store for greater losses in November? According to the Bureau of Labor Statistics (BLS), the US economy created 638,000 new […]
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November 62020
Bears on USD/JPY Set for 103.15
The United States dollar versus the Japanese yen currency pair seems to have been taken over by the bears. Do the bulls still hold any chances? Long-term perspective The high of 109.85 spawned a depreciation that, besides rendering the piercing of 109.08 as a false one, managed to pierce the next firm support, the psychological level of 107.00. The piercing was limited by the 106.12 intermediary level, which — after printing the 106.07 low — sent the price back […]
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