Day: November 10, 2020

November 10
2020

Euro See-Saws Against Dollar on Weak German ZEW Survey Data

The euro today oscillated between gains and losses against the US dollar falling on weak eurozone macro releases and rising as the greenback fell. The EUR/USD currency pair appeared to lose its bullish momentum today and traded sideways following yesterday’s decline. The EUR/USD currency pair today rallied to a high of 1.1843 in the early Frankfurt session before falling to a low of 1.1780 in the middle of the session, then recouping some of its losses heading into the American […]

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November 10
2020

Chinese Yuan Tests 6.5 As PBoC Tightens Liquidity, COVID-19 Vaccine Hopes

The Chinese yuan is extending its months-long rally on Tuesday after breaking the 6.6 threshold against the US dollar. The yuan, which has been one of the best-performing currencies in the aftermath of the coronavirus pandemic, has become an attractive play in foreign exchange markets, especially as policymakers attempt to make the yuan more prominent in international transactions. With former Vice President Joe Biden almost certain to occupy the White House in the next couple of months, […]

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November 10
2020

First Stop at 1.3261 on GBP/USD?

The Great Britain pound versus the United States dollar currency pair seems to aim for 1.3261. But do the bulls still have enough steam? Long-term perspective From the 1.2075 low, after validating the support area of 1.2092, the price started a very convincing ascending trend. In fact, the bulls were so determined that they were able to pierce the triple resistance zone etched by the descending line, the upper one of the ascending channel, […]

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