King Dollar looks tired and slightly defeated on the daily charts. Prices are struggling to push back above 97.15. Sustained weakness below this point may open the doors towards 96.00.
Euro remains choppy
The Euro’s movement against the Dollar was choppy, rough and rocky this week. A breakdown below 1.1270 could open the doors towards 1.1200. If 1.1270 proves to be reliable support, prices may rebound towards 1.1360.
Pound pushes higher
Sterling has appreciated against every single G10 currency this week. GBPUSD bulls are greedily eying the 1.2750 level. With the 50 SMA on the cusp of crossing above the 100 SMA, the technical remain in favour of bulls.
USDJPY breakdown setup in play
The USDJPY has broken below the 107.00 support level. A weekly close below this point may open a path towards 105.90.
Commodity spotlight – Gold
After charging to levels not seen in nine years, Gold may experience a technical correction back towards the $1780-$1765 regions before bulls gather fresh momentum. Although prices have cut through the psychological $1800 level like a hot knife through butter, a weekly close below this point could trigger a much-needed correction.
Disclaimer: The content in this article comprises personal opinions and should not be construed as containing personal and/or other investment advice and/or an offer of and/or solicitation for any transactions in financial instruments and/or a guarantee and/or prediction of future performance. ForexTime (FXTM), its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness, of any information or data made available and assume no liability as to any loss arising from any investment based on the same.
Shares of Clean Energy Fuels Corp. established a new 52-week high after the company reported it is teaming up with Chevron on its Adopt-a-Port renewable natural gas initiative to reduce emissions.
Clean Energy Fuels Corp. (CLNE:NASDAQ), which supplies compressed, liquefied and renewable natural gas for light-, medium- and heavy-duty vehicles, yesterday announced that it is partnering with Chevron Corp. (CVX:NYSE) on its Adopt-a-Port initiative. The firms stated that “the Adopt-a-Port program provides truck operators serving the ports of Los Angeles and Long Beach with cleaner, carbon-negative renewable natural gas (RNG) to reduce emissions.”
As part of the Adopt-a-Port program, Chevron will be responsible for providing funding to subsidize truck operators to cover the cost of buying new RNG-powered trucks and supplying RNG to Clean Energy stations located near the ports. Clean Energy is charged with offering fueling services to qualified truck operators and managing the program.
The companies claimed that the initiative will serve to eliminate climate pollutants and will result in the reduction of smog-forming NOx emissions by 98% compared to diesel trucks.
Chevron’s V.P. of Americas Products – West Mike Vomund, commented, “We are excited to be partnering with Clean Energy as we continue to innovate in the renewable, low-carbon fuel space…Along with other recent investments like CalBio, selling branded renewable diesel in San Diego County and piloting EV charging stations, Adopt-a-Port further demonstrates Chevron’s commitment to increasing renewables in support of our business, continuing our overall aim to provide the affordable, reliable and ever-cleaner energy.”
“Switching trucks to fuel with RNG is vital to improving air quality and fighting climate change in our country’s largest port complex,” said Greg Roche, vice president, Clean Energy. “We’re proud to partner with Chevron on the Adopt-a-Port initiative that will put additional clean, carbon-negative trucks on the road and lessen the environmental impact on operations in the region.”
Clean Energy Fuels Corp. is based in Newport Beach, Calif., and is a provider of clean fuel for the transportation market. The company’s Redeem renewable natural gas (RNG) is derived from captured biogenic methane that is produced from decomposing organic waste. The company’s RNG products help power commercial vehicle fleets, airport shuttles, city buses and waste and heavy-duty trucks. The firm indicates on its website that it has a network of approximately 540 fueling stations across the U.S. and Canada and can deliver Redeem through both compressed natural gas (CNG) and liquefied natural gas (LNG).
Clean Energy started the day with a market capitalization of around $444.0 million with approximately 200.9 million shares outstanding. CLNE shares opened higher today at $2.29 (+$0.08, +3.62%) over yesterday’s $2.21 closing price and reached a new 52-week high price this morning of $3.75. The stock has traded today between $2.28 and $3.75 per share and is currently trading at $2.87 (+$0.66, +29.81%).
Disclosure: 1) Stephen Hytha compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None. 2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees. 3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. 4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports. 5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.
Financial services play a major role in the economic lives of most Americans, from the moment their paychecks are directly deposited into a bank account to the loan taken out to buy their first home or car.
Yet over 12 million people – about 6% of U.S. adults – cannot access these services because they do not have a bank account. Economists call these individuals financially excluded or the “unbanked.” Being unbanked is costly, both financially and in terms of missed economic opportunities, and afflicts communities of color most.
The coronavirus recession exposes these costs even further. For example, the unbanked have had to wait much longer than those with accounts to get “economic impact” checks – and some are still waiting. Prompt access to emergency lending is vital to helping poorer Americans endure the crisis.
Its roots in the U.S. can be traced back to the New Deal’s Federal Housing Administration, which limited mortgage lending to middle-income, predominantly white suburbs. The problem grew worse in the 1980s and ‘90s, when deregulation allowed banks to operate across state lines, leading to a decline in the number of community banks. National banks were less willing to lend in low-income neighborhoods.
While some people avoid banks because of the fees, being left out of the banking system has other costs. With less access to other lines of credit, the unbanked are more likely to use expensive alternatives such as title loans – in which a borrower uses a vehicle title as collateral – for emergency expenses. Annual interest rates on such loans can be as high as 300%.
And being unbanked means it’s harder to develop a credit history. Without one, it is more difficult to get a mortgage loan – and thus much harder to buy a home.
The COVID-19 pandemic, by causing a dramatic collapse in economic activity and skyrocketing unemployment rates, has compounded these problems.
Even in good times, more than 10% of Americans report they are unable to pay for an unexpected US$400 expense – and would struggle even more without access to credit.
Those without a banking account have even fewer options to get emergency cash, such as title or payday loans. Another option, which my research shows is especially true among women of color, is asking friends or family for money. Yet with unemployment rates reaching a staggering 19.5% for Hispanic women and 17.5% for black women, community resources will be stretched thin.
Financial exclusion also hampered the rollout of part of the coronavirus bailout that promised stimulus payments of up to $3,400 per family. Americans with checking accounts received the payment within a few weeks via direct deposit, while those without one had to wait far longer. As of early June, 13 to 18 million Americans who were expecting a check still had not received one.
This delay is more than an inconvenience for households living paycheck to paycheck. Many Americans urgently need prescriptions they can’t afford and are at risk of being evicted from their homes.
How postal banking works
Conventional banks claim they cannot serve the unbanked because small-dollar loans and accounts with low balances aren’t profitable.
Postal banking, however, could serve the unbanked and do so efficiently. While there are variousways to do this, a basic postal banking system would allow every United States Postal Service branch to act as a limited-service bank, offering services like checking and saving accounts, pre-paid debit cards and small loans.
As a public corporation that doesn’t need to worry about rewarding investors, the USPS could offer financial services to more Americans at a lower cost than banks. USPS branches are already located in virtually every neighborhood in the U.S., and over half are in banking deserts. This existing network would reduce overhead. And the USPS is in a better position to handle a loan default because it could garnish tax refunds, reducing the cost of collecting on unpaid loans.
What’s more, this would also offer a financial lifeline to the postal service, which has been losing money for over a decade. The USPS predicts that offering postal banking services could provide between $8 billion and $10 billion in additional revenue a year, which would offset at least some of its current shortfall.
A Postal Savings Certificate of Deposit from 1941. Smithsonian National Postal Museum, CC BY
History and current practice show that postal banking is feasible. It is already used in 139 countries around the world, such as France, New Zealand and Italy.
And in the U.S., Congress created a government-guaranteed savings scheme in 1910 to encourage people to put their money in the financial system – as opposed to their mattresses and cookie jars. According to “How the Other Half Banks,” by banking law expert Mehrsa Baradaran, the United States Postal Savings System was quite popular. As its peak, it held $3.4 billion in deposits.
But after World War II, conventional banks began to offer much higher interest rates on their deposits – with the same government guarantee. And banks began to open up branches in more underserved neighborhoods. The postal savings system stopped taking new deposits in 1966.
The details differ from proposal to proposal. Some proponents – including USPS itself – see postal banking as a complement to private sector banks, which would continue to offer a wider range of services. Others support a public bank that would compete directly with private banks through a financial services marketplace.
Banks, including small community banks, have generally opposed postal banking. Yet the experience of other countries suggests that a postal bank can coexist with a thriving financial services industry – while ensuring fewer Americans are left behind.
The yellow metal has seen a strong rally this week with price breaking out to fresh 2020 highs.
The move comes despite equities remaining near recent highs and is primarily driven by the sell-off in the US dollar.
The greenback has come under renewed selling pressure this week amidst growing fears of a second wave of COVID-19. Currently, over 40 states are reporting new highs in infection numbers.
The US has come under widespread criticism for its handling of the virus. Some states are needing to reintroduce lockdown measures to combat a fresh outbreak of the virus.
US unemployment claims on Thursday came in lower than expected. This suggests that the post-lockdown recovery in the economy is continuing this month.
The June jobs report highlighted record growth in employment with nearly 5 million jobs added last month. However, the prospect of further lockdowns is weighing on USD, keeping gold prices supported as traders move back into the safe-haven on a larger scale.
Gold Hits Highest levels Since 2011
Gold price broke out above the 1795.66 level this week, trading back up to their highest level since 2011. While price holds above here, the next level to watch is the 2011 closing high of 1823.25.
As price continues to move higher within the rising wedge pattern, traders should keep an eye on the RSI indicator as any bearish divergence could highlight a potential reversal lower.
Silver
Silver prices have been well supported this week amidst a perfect combination of higher equities prices, higher gold prices, and a lower US dollar.
With USD likely to remain under pressure in the near term, the outlook remains bullish for silver. Recent industrial data sets have helped support silver as manufacturing continues to recover, reinforcing the view of a demand recovery for silver.
However, this view could change if the virus in the US causes further lockdowns.
Tensions between the US and China could also pose downside risks for silver if hostilities lead to a breakdown in trade negotiations. Prices were heavily weighed down by the two-year US/China trade war which decimated demand levels in silver.
Silver Approaching 2019 Highs
Silver prices have broken out above the bearish trend line and the 18.83 level this week. While price remains above the broken trend line, focus remains on a further grind higher.
The 2019 highs of 19.62 are the next upside area to watch. Should price break back below the trend line, the 17.42 level is the main support to note ahead of deeper support at the 16.53 level.
European governments are spending unprecedented levels of money on COVID relief. Therefore, it’s only natural to wonder: how is this going to be paid for?
Germany might have the fiscal latitude to adjust its budget to address the issue. But what about countries like Italy, or France, which were already above EU debt guidelines?
The shutdown makes things more complicated for government finances. And not just because of the increased spending. In fact, since when has a government actually reduced its spending once given the opportunity to spend, anyway?
The economic fallout means that governments are expected to collect less revenue in taxes. And then there are countries, like Italy, they’re considering cutting taxes to stimulate the economy.
Where’s the Money Coming From?
A closer look at the much-vaunted “Next Generation EU” program that promises €750B in spending on the part of the central EU government, can give us some insight.
The EU plans to raise those funds on capital markets, and will then have to pay them back. From where? The EU doesn’t collect taxes. Its members contribute in order to finance it.
In the second part of the agreement, there are some mentions of how to pay it off. They include increasing fees from the Emissions Trading System, and carbon border adjustment fees.
But the agreement also provides provision for a digital tax on companies making over €750M a year, and taxes on companies that “draw huge benefits from the EU single market”.
The document says these new sources of revenue “may” pay off the debt. However, it doesn’t say the sources will be terminated once the debt is paid off.
Effectively, this creates two new income streams for the EU.
But We Don’t Want to Talk About That Now
Just yesterday, the ECB’s Villeroy said that France should aim to stabilize taxes, not raise or lower them.
Business Minister of Ireland Varadkar urged for cuts to business taxes. Last week Italian PM Conte insisted on tax cuts for middle-income earners in Italy.
At least publicly on a national level, government officials are pushing to cut taxes to help the economy overcome COVID.
Perhaps the increase in spending at the EU level, plus new EU sources of revenue, is a way for national governments to “endorse” the collection of unpopular taxes to the EU.
This Isn’t Exactly New
The EU wanting to implement a digital tax and increase carbon emissions costs has been a present issue for nearly a decade at this point.
The need to pay down increased debt might offer an opportunity to finally pass those measures.
National governments cutting some of the taxes for a limited period of time might offset the tax burden of introducing the measures on the EU level. But any tax cuts national governments implement now will likely last only the duration of the coronavirus emergency, by which time EU-level taxes will be firmly established.
After completing the ascending wave at 1.1370 and the descending structure towards 1.1300, EURUSD has formed the consolidation range around the latter level and broken it to the downside. Possibly, the pair may form a new descending structure to reach 1.1250 and then resume trading upwards with the target at 1.1300.
GBPUSD, “Great Britain Pound vs US Dollar”
After finishing the ascending wave at 1.2668, GBPUSD has completed the descending impulse towards 1.2600; right now. it is consolidating around the latter level. Possibly, today the pair may fall to reach 1.2575 and then return to 1.2600. If later the price breaks this range to the upside, the market may correct towards 1.2640; if to the downside – start a new decline with the target at 1.2530.
USDRUB, “US Dollar vs Russian Ruble”
USDRUB is still trading around 71.01. Today, the pair may fall to break 70.10 and then continue trading downwards to reach 69.60. However, an alternative scenario suggests that the market may form one more ascending correction with the target at 71.60.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY has finished the descending wave at 106.99; right now, it is consolidating around this level. If later the price breaks this range to the upside, the market may correct towards 107.40; if to the downside – resume trading inside the downtrend with the target at 106.60.
USDCHF, “US Dollar vs Swiss Franc”
After forming the consolidation range around 0.9380 and breaking it to the upside, USDCHF is expected to continue growing towards 0.9440. After that, the instrument may resume trading inside the downtrend with the target at 0.9400.
AUDUSD, “Australian Dollar vs US Dollar”
After completing the descending wave at 0.6939, AUDUSD is expected to consolidate around this level. Later, the market may break the range to the upside and start another correction towards 0.6969 or even 0.7004.
BRENT
Brent has finished the descending wave at 42.32. Today, the asset may form a new descending structure towards 41.90 and then consolidate around it. After that, the instrument may break the range to the upside and resume moving upwards with the target at 43.00 or even 43.90.
XAUUSD, “Gold vs US Dollar”
After falling and reaching 1800.00, Gold is consolidating around it. If later the price breaks this range to the upside, the market may correct towards 1809.90 and then resume trading downwards to break 1785.00. The short-term target is at 1775.55.
BTCUSD, “Bitcoin vs US Dollar”
BTCUSD is falling towards 9099.00. Later, the market may form one more ascending structure to reach 9260.00 and then start a new decline with the target at 9059.00.
S&P 500
After completing the descending structure at 3118.5 and returning to 3160.6, the Index is expected to consolidate between these two levels. If later the price breaks this range to the upside, the market may form one more ascending structure towards 3240.5; if to the downside – resume trading downwards with the target at 3072.2.
Attention! Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
The daily chart has been showing the same technical picture for over a month. After rebounding from the 23.6% fibo, Bitcoin has failed to reach the high at 10368.450. in the nearest future, the asset is expected to re-test 23.6% fibo and then resume falling towards 38.2%, 50.0%, and 61.8% fibo at 7907.00, 7150.00, and 6390.00 respectively.
As we can see in the H1 chart, after rebounding from the mid-term 23.6% fibo, the pair has corrected its previous decline by 38.2% and may continue moving towards 50.0% fibo at 9590.00. However, the decline has already reached 50.0% fibo and may continue towards 61.8% and 76.0% fibo at 9064.00 and 8927.10 respectively and then the low at 8814.20.
ETHUSD, “Ethereum vs. US Dollar”
As we can see in the H4 chart, Ethereum is still moving between 23.6% fibo and the high at 214.90 and 253.47 respectively. If the price breaks the high, it may reach the fractal high at 288.98. However, if the asset breaks 23.6% fibo, it may continue trading downwards to reach 38.2% and 50.0% fibo at 191.00 and 171.60 respectively.
In the H1 chart, the divergence on MACD made the pair start a new descending wave, which has already reached 38.2% fibo. Later, the market may continue falling towards 50.0%, 61.8%, and 76.0% fibo at 232.30, 228.50, and 223.80 respectively and then the low at 215.90. The resistance is the high at 248.89.
Attention! Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
The International Coffee Organization (ICO) estimates world exports at 10.49 million bags in June, 14.6% lower than in May 2019. And imports by ICO importing Members and the United States reached 64.22 million bags in the first half of coffee year 2019/20 (Oct/19 to March/20), 3.7% lower than in October 2018 to March 2019. The ICO reported also its composite indicator decreased by 5.2% to an average of 99.05 US cents/lb in June 2020, which is the third consecutive month of decrease. Lower demand as indicated by falling shipments is bearish for coffee.
Demand for risky assets has weakened amid a record number of new COVID-19 cases in the United States. Investors are concerned about possible introduction of new restrictive measures in the United States and other countries. During yesterday’s and today’s trading sessions, the drop in EUR/USD quotes has exceeded 60 points. At the moment, the trading instrument is consolidating in the range of 1.1260-1.1290. The single currency is tending to decline. Positions need to be opened from key support and resistance levels.
The news feed on 2020.07.10:
– The US producer price index at 15:30 (GMT+3:00).
Indicators do not send accurate signals: the price has crossed 100 MA.
The MACD histogram is in the negative zone, indicating the bearish sentiment.
Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which gives a signal to buy EUR/USD.
Trading recommendations
Support levels: 1.1260, 1.1220, 1.1195
Resistance levels: 1.1290, 1.1305, 1.1330
If the price fixes below the level of 1.1260, a drop in the EUR/USD quotes is expected. The movement is tending to 1.1230-1.1200.
An alternative could be the growth of the EUR/USD currency pair to 1.1310-1.1340.
The GBP/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.25959
Open: 1.26063
% chg. over the last day: +0.03
Day’s range: 1.25668 – 1.26109
52 wk range: 1.1466 – 1.3516
The GBP/USD currency pair has stabilized after a prolonged rally. The pound sterling is currently consolidating. Local levels of support and resistance are: 1.2570 and 1.2625, respectively. In the near future, the technical correction of GBP/USD quotes is possible. Demand for risky assets has weakened. Positive data on jobless claims provides additional support for the greenback. Positions must be opened from key levels.
The news feed on the UK economy is calm.
Indicators do not send accurate signals: the price has crossed 50 MA.
The MACD histogram is in the negative zone, which gives a signal to sell GBP/USD.
Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which indicates the bullish sentiment.
Trading recommendations
Support levels: 1.2570, 1.2520, 1.2470
Resistance levels: 1.2625, 1.2675
If the price fixes below 1.2570, a correction of GBP/USD quotes is expected. The movement is tending to the round level of 1.2500.
An alternative could be the growth of the GBP/USD currency pair to 1.2670-1.2700.
The USD/CAD currency pair
Technical indicators of the currency pair:
Prev Open: 1.35107
Open: 1.35872
% chg. over the last day: +0.43
Day’s range: 1.35752 – 1.36313
52 wk range: 1.2949 – 1.4668
Purchases prevail on the USD/CAD currency pair. During yesterday’s and today’s trading sessions, the growth of quotations has exceeded 100 points. The trading instrument has reached local extremes. Loonie is currently testing the resistance level of 1.3630. The mark of 1.3585 is already a “mirror” support. USD/CAD quotes are tending to grow. We recommend you to pay attention to the dynamics of prices of “black gold”. Positions must be opened from key levels.
At 15:30 (GMT+3:00), a report on the labor market of Canada will be published.
Indicators point to the power of buyers: the price has fixed above 100 MA.
The MACD histogram is in the positive zone, which gives a signal to buy USD/CAD.
Stochastic Oscillator is near the overbought zone, the %K line has crossed the %D line. There are no signals at the moment.
Trading recommendations
Support levels: 1.3585, 1.3555, 1.3520
Resistance levels: 1.3630, 1.3660, 1.3700
If the price fixes above 1.3630, the USD/CAD quotes are expected to rise. The movement is tending to 1.3660-1.3680.
An alternative could be a decrease in the USD/CAD currency pair to 1.3560-1.3530.
The USD/JPY currency pair
Technical indicators of the currency pair:
Prev Open: 107.262
Open: 107.149
% chg. over the last day: -0.04
Day’s range: 106.806 – 107.264
52 wk range: 101.19 – 112.41
The USD/JPY quotes show a negative trend. The trading instrument has set new local lows. The USD/JPY currency pair has found support at 106.80. The mark of 107.05 is already a “mirror” resistance. Demand for “safe haven” currencies is still high. The yen is tending to grow. We recommend you to pay attention to the dynamics of yield on US government bonds. Positions must be opened from key levels.
The news feed on the Japanese economy is calm.
Indicators point to the power of sellers: the price has fixed below 50 MA and 100 MA.
The MACD histogram is in the negative zone, indicating the bearish sentiment.
Stochastic Oscillator is in the oversold zone, the %K line has crossed the %D line. There are no signals at the moment.
Trading recommendations
Support levels: 106.80, 106.50
Resistance levels: 107.05, 107.20, 107.35
If the price fixes below 106.80, a further drop in the USD/JPY quotes is expected. The movement is tending to 106.50-106.20.
An alternative could be the growth of the USD/JPY currency pair to 107.20-107.40.
The Euro continued to stabilise against the region around 1.1150/1200, while still aiming at the 1.1300 mark, as such a sustainable break higher levels the path up to 1.1400/50 and possibly even higher.
Technically, we consider the region around 1.1350 to be the “make-or-break” level, where a sustainable break higher could deliver the fuel for a stint up to the region around the current yearly highs.
But the question is: “What could ignite such a bullish stint and break higher?”, especially given the quite thin economic calendar for the weekly close and the near-future?
Our main focus remains on the developments in 10-year US yields, as they near the important support region around 0.60%, and a break lower would not only drive Gold higher, but also the USD lower (thus pushing EUR/USD higher).
As already pointed out in our last on Gold last Wednesday, the shrinking Fed balance sheet resulting out of a continuing decline in demand for the US central bank’s USD swap lines from foreign central banks like the ECB, BoJ or BoE while rather sooner than later reverse again and thus result in pressure on US yields and on the US dollar again.
Therefore, we should keep a close eye on developments in Equity markets, where rising volatility could trigger such an expansive monetary policy approach from the Fed among market participants.
While short-term a break above 1.1350 brings the focus on the region around 1.1400/50, the broader picture and break above leaves EUR/USD with bullish potential up to the region around 1.1700/1.1800, while only a drop below 1.1150 could trigger a deeper correction with a target around 1.1000:
Source: Admiral Markets MT5 with MT5-SE Add-on EUR/USD Daily chart (between May 10, 2019, to July 9, 2020). Accessed: July 9, 2020, at 10:00pm GMT – Please note: Past performance is not a reliable indicator of future results, or future performance.
In 2015, the value of the EUR/USD fell by 10.2%, in 2016, it fell by 3.2%, in 2017, it increased by 13.92%, 2018, it fell by 4.4%, 2019, it fell by 2.2%, meaning that after five years, it was down by 7.3%.
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