Since start of the trading session month of September, market participants have been toying, testing the low level of the previous monthly trading session which is the month of August. And even at one point nearly breached to pass past that low level but seems buyers held fort and rallied the price up with a huge momentum to this month trading session open price level.
WikiFX| Daily F.X. Analysis, Sept 21 |Arslan Ali Butt-KOL
EUR/USD is traded higher at 1.1862 level and it seems determined to resume its upwards movement. USDX’s drop helps the pair to jump towards new highs. A valid breakout above the immediate upside obstacles could bring a great long opportunity.
The closure of passenger air links between the U.S. and the U.K. will strip at least 11 billion pounds ($14.21 billion) off U.K. gross domestic product in 2020, according to a report commissioned by British Airways‘ parent IAG SA, London’s Heathrow Airport, the Airlines U.K trade group and airport services firm Collinson Group.
A boom in the U.K. housing market gathered pace this month as Britons pandemic-driven desire for more living space and a tax break on purchases pushed asking prices up by the most in four years.
Commuters in New Zealands largest city are experiencing major delays getting to work after a freak accident on Auckland Harbour Bridge caused structural damage that could take weeks to repair.
The S&P 500 has been wobbling but the haven-linked US Dollar has been struggling to catch a bid. The anti-risk Japanese Yen is shining instead. Has the Fed left investors wanting more？ Ahead, NZD e...
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India‘s Parliament Sunday approved two agriculture bills despite strong criticism from within the ruling party’s own coalition and opposition groups.
LISTEN TO ARTICLE 4:40 SHARE THIS ARTICLE ShareTweetPostEmailIn the country that pioneered the wor
Australian Prime Minister Scott Morrison says he is expecting to see a jobs bounce-back in the nation as its worst-hit state prepares for a cautious reopening.
U.S. consumer sentiment increased more than expected in early September to a six-month high as Americans grew more upbeat about the economys prospects.
The green buck seems to recover against the Canadian dollar as it makes the slow climb after sell rout and which may be just a correction move as the down rally cools off albeit temporarily. Also, this week the dollar was given a jack in the arm after the federal reserve upbeat economic outlook that they stated this mid-week, which was way different from the projections they had stated prior during the month of June meeting.
EUR/USD erased yesterday’s losses and confirms its upside outlook once again. The fasle breakdown with great separation below 1.18 level confirms further growth. Unfortunately, yesterday’s US data failed to support the greenback’s appreciation. The Unemployment Claims indicator was reported at 860K above 825K estimated, the Building Permits were reported lower at 1.47M versus 1.51M estimate, while the Housing Starts dropped from 1.49M to 1.42M in August, below 1.47M forecast.
Investors must focus on three things in the forex market as well as their effects. First of all, will technology stocks continue correcting? The Nasdaq composite has remained in correction since hitting a record high on September 2. As of September 11, the index has retraced by over 10% from its highs. The reason for the sustained decline is rumored to be Masayoshi Son, the richest person in Japan, who’s position was squeezed after trading options. Whether or not the statement is right, it is normal for Nasdaq to see correction when accumulating large gains. Therefore, the correction is expected to continue until finding its initial support at 10,180. In this case, the U.S. dollar index may keep climbing this week.
In recent years, a group of economists, ecologists, and anthropologists has gained attention for trying to overturn a core tenet of economic policy — that growth is good for everyone. Known as the “degrowth” movement, these scholars suggest a reframing of humanitys goals along ecological lines to address the climate crisis, along with a reconsideration of using gross domestic product as a metric for progress. The upheaval of the coronavirus crisis has added fuel to the debate.
Indias economic recovery prospects have gone from bad to worse after the nation emerged as a new global hotspot for the coronavirus pandemic with more than 5 million infections.
Big techs market-leading days might be numbered thanks to Federal Reserve Chairman Jerome Powell.
The arrival of Prime Minister Yoshihide Suga is set to allow the central bank to take an even longer-term view on achieving a price goal, which was once seen as a quick two-year mission.
The Bank of Canada‘s top deputy Carolyn Wilkins said Thursday she won’t be seeking a second term, four months after she was passed over for the role of governor.
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