EURUSD

US Open Preview – Sterling the worst performer; aussie weaker ahead of RBA decision

Posted on August 6, 2018 at 11:16 am GMT

Here are the latest developments in global markets: FOREX: The dollar index, which gauges the greenback’s strength against a basket of six major currencies, was trading higher by around 0.25%, with euro/dollar being down by 0.20% and trading around the 1-year low of 1.1530 despite Eurozone’s Sentix investor confidence index for the month of August surprisingly improving for the second month. Dollar/yen moved higher by 0.15% above the 111.00 psychological level. Pound/dollar plummeted to an 11-month low of 1.2932 on Monday (-0.52%) as comments by [..]

European Open Preview – Yen gains support on trade tensions

Posted on August 6, 2018 at 7:45 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is nearly 0.2% higher on Monday, in the aftermath of the US jobs report on Friday, which was slightly softer than consensus expectations, but still relatively strong overall. Meanwhile, the Japanese yen, attracted some safe-haven flows on Friday, ending the day higher across the board after China unveiled a list of $60bn worth of US goods it plans to impose tariffs on. STOCKS: Wall Street closed higher on Friday, undeterred by the [..]

Technical Analysis – EURUSD stands in consolidation mode; further losses are expected

Posted on August 6, 2018 at 6:25 am GMT

EURUSD has been underperforming in the past four days, breaking back below the 20- and 40-simple moving averages in the daily timeframe. The world’s most traded currency is ready to create a consolidation area if it touches again the 1.1510 – 1.1530 zone and reverses back up. The upper boundary of the channel is the 1.1750 resistance level, which stands near the 23.6% Fibonacci retracement level of the downleg from 1.2550 to 1.1510. Momentum indicators are pointing to a negative [..]

Week Ahead – UK and Japan next to report GDP figures; RBA and RBNZ rate decisions eyed

Posted on August 3, 2018 at 12:17 pm GMT

There will be a continuation of the central bank and Q2 GDP theme in the next seven days as interest rate decisions will be awaited out of Australia and New Zealand, while the United Kingdom and Japan will publish growth figures. Monthly data on trade balance and industrial output will also be in focus, along with Canadian employment and US inflation numbers. RBA and RBNZ to stand pat again It will be the turn of the Reserve Bank of Australia [..]

US Open Preview – Dollar in quiet trade ahead of Nonfarm payrolls

Posted on August 3, 2018 at 11:10 am GMT

Here are the latest developments in global markets: FOREX: Ahead of the all-important Nonfarm payrolls the dollar index, which gauges the greenback’s strength versus six major currencies hit a fresh two-week high of 95.36 early on Friday before it fell back to 95.24 (+0.08%). Dollar/yen was trading 0.05% higher on the day around 111.70, and is set to complete a green day after two consecutive negative sessions. Turning to the euro area, retail sales grew less than expected in June and July’s final services PMI readings [..]

European Open Preview – Dollar stands at 2-week highs ahead of US jobs report

Posted on August 3, 2018 at 8:10 am GMT

Here are the latest developments in global markets: FOREX: The dollar was up on the margin versus a basket of currencies on Friday and at a two-week high after rising considerably on Thursday. The outcome of the US jobs report due later today, as well as any developments on global trade may constitute the next catalysts to steer the currency in either direction. STOCKS: The Dow Jones finished Thursday’s trading marginally lower, with the S&P 500 and Nasdaq Composite edging higher by 0.5% and 1.2%. [..]

US Open Preview – Pound under pressure ahead of BoE rate decision

Posted on August 2, 2018 at 10:55 am GMT

Here the latest developments in global markets: FOREX: The US dollar index, which measures the greenback against a basket of six currencies, advanced by 0.39% and touched a two-week high near 95.00 on Thursday. Dollar/yen was weaker on Thursday at 111.49 (-0.20%) despite the Fed reiterating that US economic growth has been rising strongly and the job market has continued to strengthen. Yesterday, the 10-year Japanese government bond yield reached a fresh one-and-a-half-year high, following the Bank of Japan’s decision to allow more flexibility in yield [..]

European Open Preview – Dollar continues advancing, buoyed be upbeat Fed; Bank of England and trade tensions in focus

Posted on August 2, 2018 at 8:05 am GMT

Here are the latest developments in global markets: FOREX: The dollar’s index against a basket of currencies was on its third straight day of advancing on Thursday – up by a bit less than 0.2% – after it was supported the previous day by the Federal Reserve’s positive assessment of the US economy. STOCKS: The Dow Jones and the S&P 500 retreated by 0.3% and 0.1% respectively on Wednesday, as US-China trade tensions which were front and center weighed on [..]

US Open Preview – Dollar inches up as Fed takes center stage

Posted on August 1, 2018 at 11:05 am GMT

Here are the latest developments in global markets: FOREX: The US dollar continued the bullish movement today against the Japanese yen (+0.05%), near 112.00, while tariffs returned to the spotlight as the US and China were reportedly seeking to resume talks to find common ground on trade. The main event of the day will be the FOMC monetary policy decision later in the day. In the Eurozone, the final IHS Markit manufacturing PMI posted a reading of 55.1 in July, unchanged from [..]

European Open Preview – Fed set for “hawkish hold”? Trade back in the spotlight

Posted on August 1, 2018 at 7:51 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is higher by 0.17% on Wednesday, ahead of the Fed policy decision at 1800 GMT, and building on the gains it posted in the previous session. The yen continued to retreat yesterday after the BoJ implicitly signaled it will keep its policy rates “low for longer”. The aussie and the kiwi both took a modest hit overnight, after media reports suggested the US may impose “heavier” tariffs on Chinese [..]

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