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Aussie tumbles as pressure builds on the RBA to cut interest rates
The Australian Dollar tumbled to its weakest level against the greenback since December 2018 after the Australian unemployment rate increased for a second consecutive month. The Australian Dollar is currently trading below the 0.6900 level against the US Dollar as traders and investors continue to bet that the Reserve Bank of Australian will soon cut[…]
Alibaba share price boosted after solid first quarter numbers
Online giant Alibaba posted better than expected numbers for the latest financial year, giving the share price of the Chinese e-commerce leader a much-needed boost. Alibaba’s share price had come under pressure earlier this week after China announced that it would be place retaliatory trade tariffs on selected U.S imports. Alibaba’s first quarter results helped[…]
Do the lows of the last few days mark a turning point for the CADJPY?
The CADJPY pair has been trending downward recently. On Wednesday, the CADJPY pair gave way at the start of trading in London, but Monday’s low could not be broken. Currently, the short-term downward trend that started in mid-April is still intact. The price is below its trend line. With a price above ¥81.40, the market[…]