Day: December 10, 2020

December 10
2020

Euro Rallies After ECB Extends Stimulus Plan by €500Bn, Maintains Rates

The euro today rallied higher against the dollar after the European Central Bank extended its stimulus programme and did not sound too dovish. The EUR/USD currency pair’s rally was also boosted by the upbeat market sentiment towards the single currency and the weak greenback. The EUR/USD currency pair today rallied from a low of 1.2078 in the Australian market to a high of 1.2158 in the American session but later gave up some of its gains.  […]

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December 10
2020

US Dollar Slumps Amid Worse-Than-Expected Initial Jobless Claims, Stimulus Standstill

The US dollar is struggling to hold onto its weekly gain against some of its key currency pairs as the number of Americans filing for first-time unemployment benefits surged to its highest level since September. Higher inflation and fiscal stimulus negotiations stuck at a standstill weighed on the greenback. How much more room is there for the buck to fall to wind down 2020? According to the Bureau of Labor Statistics (BLS), initial jobless claims […]

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December 10
2020

Pound Crashes Against Dollar on Brexit Talks Failure and Mixed UK Data

The Sterling pound today fell against the dollar fueled by news that there was no breakthrough in yesterday’s Brexit talks between the EU and UK leaders. The GBP/USD currency pair’s decline was also fueled by the mixed UK data released earlier today and the predominantly negative investor sentiment. The GBP/USD currency pair today fell from a high of 1.3389 in the Australian market to a low of 1.3332 in the early London session and was headed lower […]

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December 10
2020

Bears Might Put Pressure from 1.7132 on GBP/CAD

The Great Britain pound versus the Canadian dollar currency pair seems to be taken over by the bears. Can the bulls pull off a comeback? Long-term perspective The fall that came about after the validation of the firm resistance area of 1.7567 extended until the 1.6810 low. From there, the bulls started to recover, as the series of higher lows and highs suggest. During their path, the bulls validated as support each and every intermediate level they […]

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