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November 19
2020

Next Target on GBP/CAD: 1.7445?

The Great Britain pound versus the Canadian dollar currency pair seems to be determined to reach 1.7445. Can the bears change this course? Long-term perspective Following the fall from the 1.7674 high to the 1.7216 low, the price validated 1.7567 as resistance. This triggered a sharp decline, one that reached the 1.6810 low. However, from 1.6810, the bulls began a slow but steady recovery, reconquering each level along their way. […]

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November 18
2020

Canadian Dollar Strengthens Despite Higher-Than-Expected Inflation

The Canadian dollar is strengthening against its US currency peer on Wednesday, despite price inflation coming in higher than the market forecast. Although the loonie has fallen against the greenback this year, the Canadian dollar has been making gains in recent months, allowing the currency to stabilize after enormous volatility in the first half of 2020. According to Statistics Canada, the consumer price index (CPI) rose 0.4% in October, up from […]

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November 18
2020

Australian Dollar Holds Steady as Optimism Wanes

The Australian dollar held its ground today despite waning optimism about the coronavirus vaccine. Domestic macroeconomic data released in Australia on Wednesday was not great but not terrible either. The Australian Bureau of Statistics reported that the Wage Price Index rose by 0.1% in the September quarter from the previous three months. Analysts were expecting the same 0.2% rate of growth as in the previous quarter. Year-on-year, the index rose by 1.2%. The six-month […]

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November 18
2020

NZ Dollar Stable as Markets Enter Consolidation Mode

The New Zealand dollar was stable today as markets have entered a consolidation mode after optimism caused by the positive coronavirus vaccine news earlier this week started to wane. Macroeconomic data released in New Zealand overnight was mixed. Statistics New Zealand reported that the output Producer Price Index fell by 0.3% in the September quarter after falling by 0.2% in the previous three months. Experts were not expecting any […]

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November 18
2020

Can the Bulls Send the Price to 1.0707 on AUD/NZD?

The Australian versus the New Zealand dollar currency pair seems to be searching for a resistance area. But could the bears take advantage of this context? Long-term perspective After the low of 1.0566 was printed, the market started a new rally, one that would etch the 1.1043 high. As the bears considered that the bulls overextended, they sent the price beneath 1.0983, thus leaving the bulls with no support to continue their movement […]

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November 17
2020

USD/CNY Tests 28-Month High As Economy Continues Recovery

The Chinese yuan is now testing its best level in more than two years against the US dollar. As China becomes the lone outlier in the global economy when it comes to the recovery, the yuan is joining the broader rally in the foreign exchange market. With the year 2020 winding down, is the next stop for the yuan 6.4? Better yet, will policymakers allow the yuan to appreciate that much? On Monday, the People’s Bank […]

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November 17
2020

Can the Bulls Take Out the High of 1.3313 on GBP/USD?

The Great Britain pound versus the US dollar currency pair seems to be willing to go north, but do the bulls have what it takes to push the price higher? Long-term perspective From the low of 1.2075, which validated the support of 1.2092, an ascending trend came into being. The trend managed to extend until just a little under the 1.3502 intermediary level. However, as the bulls extended a little too much and too quickly […]

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November 16
2020

US Dollar Weakens As Moderna Announces 94% Effective Coronavirus Vaccine

The US dollar is weakening to start the trading week after another pharmaceutical giant announced a second effective coronavirus vaccine. The news lifted the financial markets across the board, elevating investors’ risk appetite. This led to a selloff in the greenback, almost guaranteeing that the buck is headed for one of its worst years on record. On Monday, Moderna confirmed that its phase three trial data showed that its COVID-19 vaccine […]

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November 16
2020

What happens when you finish paying off your home?

Mortgages feel like an endless future when you win one.  Thinking about paying hundreds of thousands of dollars over ten to thirty years may sound like a ball and chain weighing you down: but this time passes.  Almost seventy percent of Americans live mortgage-free after the time passes, which means it’s an attainable goal.  Instead […]

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November 16
2020

Bulls on AUD/USD Still Heading for 0.7413?

The Australian versus the US dollar currency pair seems to have been taken by surprise by the bulls. Are the bears strong enough to defend 0.7320? Long-term perspective After the level of 0.6386 was validated as support, the price appreciated until the next firm resistance, 0.7010. Following the consolidation phase that sits under 0.7010, the level was pierced, and the price continued the upwards movement until reaching the 0.7413 high. From there, the price slipped […]

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