Day: November 27, 2020

November 27
2020

USD/INR Tops 74.00 As Q3 GDP Contracts, COVID-19 Infections Jump

The Indian rupee is weakening against its US peer at the end of the trading week, driven mostly by the continuing economic contraction and the rising number of coronavirus infections. The rupee has joined the rest of the emerging market currencies by slumping in 2020 amid the financial crisis. But with growing confidence in the broader financial market, the rupee has found support among EM currencies in November. According to the Ministry of Statistics and Programme Implementation (MOSPI), the Indian economy […]

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November 27
2020

Euro Rallies to 3-Month Highs on Upbeat Euro Area Data Releases

The euro today rallied to new highs last seen on September 1st against the weak dollar boosted by upbeat macro reports from the euro area. The EUR/USD currency pair today rallied higher boosted by the upbeat French GDP report and other positive data from other EU countries. The EUR/USD currency pair today rallied from a low of 1.1909 in the Australian market to a high of 1.1961 in the early American session and was trading near […]

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November 27
2020

Did the Bears Clear the 105.09 Level on USD/JPY?

The US dollar versus the Japanese yen currency pair seems to be set for 103.15. Is this really so? Long-term perspective After it peaked at 109.85, the price fell under the resistance level of 109.08, extending all the way to 106.07 before crafting the next peak at 108.16, slightly above the 108.05 intermediary level. From the 108.05 peak, the price developed the oscillations in such a manner that it formed a descending trend, one […]

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