EUR/JPY Analysis: Selling Signals
The single European currency declined by 59 basis points or 0.48% against the Japanese Yen on Thursday. The currency pair tested the lower boundary of a narrow descending channel pattern during yesterday’s trading session. Everything being equal, the 50– hour...
AUD/USD Analysis: Decline Likely To Continue
The Australian Dollar declined by 79 basis points or 1.10% against the US Dollar on Thursday. The currency pair tested the lower line of a descending channel pattern at 0.7060 during Thursday’s trading session. All things being equal, the exchange...
USD/CAD Anlaysis: Breakout Occurs
The US Dollar surged by 97 basis points or 0.74% against the Canadian Dollar on Thursday. A breakout occurred through the upper line of a descending channel pattern during Thursday’s trading session. Given that a breakout has occurred, the exchange...
Dollar & Yen Firm, But More Needed to Prove Their Strength
Dollar and Yen remain generally firm in Asian session while Australian and New Zealand Dollars are soft. US stocks pared back much of the initial losses overnight with DOW ended nearly flat. Overall sentiments are also stable and mixed in...
USD/JPY Could Nosedive If It Breaks 105.00
Key Highlights USD/JPY started a downward move after it failed to surpass the 106.00 resistance. It traded below a key bullish trend line with support at 105.60 on the 4-hours chart. EUR/USD extended its decline below 1.1720, GBP/USD revered gains...
Asia Morning: U.S. Stocks Down For Third Session
On Thursday, U.S. stocks slipped for a third session. The Dow Jones Industrial Average eased 19 points (-0.07%) to 28494, the S&P 500 declined 5 points (-0.15%) to 3483, and the Nasdaq 100 lost 86 points (-0.72%) to 11898. S&P...
China is open to taking on more debt if that’s what it takes to support the economy
People walk past the headquarters of the People’s Bank of China (PBOC), the central bank, in Beijing, China September 28, 2018. Jason Lee | Reuters BEIJING — As China recovers from the coronavirus pandemic, the country’s central bank is more...
‘No doubt’ that crucial U.S. fiscal stimulus is coming, IMF managing director says
LONDON — Kristalina Georgieva, the managing director of the International Monetary Fund, told CNBC Thursday that she has “no doubt” the U.S. will implement a new economic stimulus package that will help reduce the current uncertainties for the global economy....
USD/CAD Slips on Weak Job Reports
USD/CAD has recorded strong gains in the Thursday session. In North American trade, the pair is trading at 1.3245, up 0.71% on the day. The US dollar has gained close to one percent this week against the loonie, after posting...
Safe Haven Flows Back to Dollar, Yen and Bonds
Risk aversion is currently in driving seat in the markets today. In the US, hope of fresh fiscal stimulus fades for now, most likely not until after elections. In Europe, countries are going back into lockdowns as coronavirus cases hit...
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