|Day's range||0.054 - 0.054|
|52-week range||0.0494 - 0.0536|
On Thursday, the U.S. Senate overwhelmingly approved the new free-trade agreement between Canada, the United States and Mexico. The deal, which covers the biggest free-trade zone in the world, should boost the economies of all three countries.
After months of difficult negotiations, the USMCA is on the verge of replacing the NAFTA accord, which has regulated free trade between the U.S., Canada and Mexico. The new free-trade agreement is a major achievement for U.S. President Trump.
Yesterday evening we found out that we should not expect any interest rate rises in 2020, which of course was a rather negative information for the American Dollar.
Donald Trump’s tweet ignite the markets again. This time, POTUS was optimistic about the future deal with China, which on some markets, caused and euphoric buying frenzy.
Today is a big day, possibly another rate cut from FED and there is a chance that this time it is the last one, at least for now. Ahead of this, stocks are climbing higher and traders are pretty optimistic about the future.
It has been an uneventful Wednesday session, with the Canadian, Mexican and British currencies showing little movement. With no major U.S. events on the schedule, traders can expect the lack of activity to continue in North American trade.
Recent rotation in multiple foreign currencies hints at the fact that a new stage of the “Capital Shift” process is taking place and that skilled technical investors need to pay very close attention to how these currencies continue to react over the next 3 to 6+ months. In the recent past, most of the world’s foreign currencies were declining in value while the US Dollar continued to strengthen. In fact, we authored many research articles about these trends and how weakness in foreign currencies will drive new foreign investment into the US stock markets for two simple reasons; strength and security.
Today, Cable bulls were resiliently moving to the upside, aiming the overhead red Ichimoku Clouds, amid fresh Brexit news. Meantime, AUD/USD was -0.27% down today despite RBA’s Debelle’s findings of the country’s shock-absorbing economy.
The upward-facing USD/CHF pair was aiming to breach above the overhead red Ichimoku Clouds. After displaying three consecutive positive sessions in a row, the Japanese Yen pair was attempting to breach above the 106.742 resistance.
Fiber continued to slip for the fifth consecutive session today. The Ninja continued to stay within the lower vicinity of the Bollinger Bands, sustaining adverse price actions throughout the day.
The RBA Meeting minutes revealed that the Bank would keep the doors open for further ease in the monetary policy by a quarter-point soon. The Euro pair and Cable suffered some huge pullbacks today.