The Australian dollar rallied again during the trading session on Friday to reach towards the 0.70 level, an area that has offered massive resistance for some time.
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The British pound has gone back and forth over the last several sessions and Friday was not any different in the fact that we are still in the same range.
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Silver markets have initially pulled back a bit during the trading session on Friday but found plenty of buyers near the $19.35 level as we see value on these dips.
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The US dollar has rallied a bit against the Mexican peso to close out the week, reaching towards the 50 day EMA.
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Spain-based consultancy group FocusEconomics downgraded the Mexican economic GDP forecast for 2020 from a contraction of 7.5% to a drop of 8.5%.
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South Africa business lobby group Business for South Africa (B4SA) identified twelve areas for reform that could boost Africa’s most industrialized country GDP by R1 trillion.
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The Australian dollar initially tried to rally during the trading session on Thursday but failed again at the 0.70 level.
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The British pound has initially gone higher during the trading session on Thursday, only to turn around and fall apart again
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The Indian rupee initially lost a bit of ground against the US dollar during the trading session on Thursday, but continues to find a little bit of strength,
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Silver markets continue to struggle with the $20 level above, an area that a lot of traders are desperately trying to take out.
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Paulo Guedes, the Brazilian Minister of the Economy, proposed changes to the tax system.
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An article published in the Swiss Journal of Economics and Statistics suggested the use of a daily fever curve (f-curve) to gauge the health of the Swiss economy.
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Risk appetite is an important part of the USD/MXN forex pair.
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The Australian dollar initially tried to rally during the trading session on Wednesday but gave up the gains above the 0.70 level.
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The British pound has been all over the place during the trading session again on Wednesday as the 1.2650 level continues to be a major barrier.
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