After bouncing off the previous Major trendline last month, Bitcoin seems to be retesting the support area again in hopes of catching a bullish momentum.
2020-04-03 • Updated
Awesome Oscillator: at zero line
What looks like a stopped heartbeat on the GBP/USD H4 is a consolidation of the currency pair with almost 0% fluctuation. Why suddenly?
First, the GBP was losing to the USD due to fueled demand of investors for the USD as a reserve currency. But then, in the second part of March, the reports started growing gloomier for the US. Donald Trump eventually changed the tone at his press conferences from optimistic to quite pessimistic, and +6.5mln applications for the unemployment benefits among the Americans made the US dollar tremble. At the same time, that disappointment did not hit as strong due to hopes on the US-President-suggested scenario for the OPEC+ to cut oil supply by 10mln per day on Thursday.
However, the GBP could not take advantage of none of that because the UK is in a dire situation itself. The Bank of England is pumping more currency into its economy and plans to keep doing so. Hence, both currencies got weaker, although due to a different set of factors.
What will it be next? In the short term, today’s NFP will show. In the long-term, the strength is still on the US dollar’s side.
After completing a substantial 4-week bullish rally, the US Dollar closed last week with a big bearish candle, which has led to a 2.63% decline in US Dollar prices. The million-Dollar question on traders' and investors' minds: is this the start of a US Dollar dump or just a correction?
All eyes seem to be on the US Dollar as traders await the Federal Reserve Chair's speech this Thursday at the Cato Institute's Annual Monetary Conference.
In the middle of September 2022, the Canadian dollar has fallen to a 2-year low against the USD
The US dollar index has all chances of reaching the 2000s high of 120.00.
The Consumer Price Index announcement by Statistics Canada is set for release in a few hours will reveal the state of inflation in the Canadian economy