News / Page 245

Asian Session – Ukraine and Greece deal optimism helps euro hold 1.14

Posted on February 13, 2015 at 8:28 am GMT

The euro managed to hold on to its gains of the previous session, as a peace deal in Ukraine and optimism that an agreement would eventually be struck between Greece and its creditors helped the currency. The euro was trading at 1.1428 against the dollar, its highest since last week’s strong US employment report. Greece would start talking to its creditors after a meeting between Eurogroup Chairman Jeroen Dijsselbloem and the new Greek Prime Minister Alexis Tsipras, ahead of another [..]

Technical Analysis – GBPUSD holds above 1.5200 but upside is limited

Posted on February 13, 2015 at 8:25 am GMT

GBPUSD has managed to hold the key 1.5200 level, trading as high as 1.5413 on Thursday. The tenkan-sen and kijun-sen lines are horizontal, suggesting some near-term consolidation and/or a correction higher. RSI is also back above the 50 line, which indicates bullishness. The 1.5500 level is seen as resistance and the market could resume the downside after reaching it as the overall outlook is bearish for the pair. A break below support at 1.5200 would open the way for a [..]

European Session – Dollar falls on big US retail sales miss, higher jobless claims

Posted on February 12, 2015 at 3:18 pm GMT

Economic data releases out of Europe were not the core focus of the market today and were in fact ignored. Eurozone industrial production was flat despite expectations for it to rise 0.3%. German inflation was down 1.1% month-on-month versus a 1.0% drop expected. The euro was nevertheless up on the day, reacting positively to news of a cease fire in Ukraine and markets put aside the lack of agreement over Greece for now. The Eurogroup talks have been pushed out [..]

Forex News – Australian unemployment jump leads to rate cut speculation

Posted on February 12, 2015 at 11:02 am GMT

Australian unemployment for January surprised on the upside when it was released earlier today and was accompanied by news that the economy actually lost 12 thousand jobs instead of creating 5 thousand as economists expected. The jobless rate climbed to its highest since 2002 at 6.4% compared with a rate of 6.1% the previous month and economists’ expectation that unemployment was only going to rise to 6.2% – a level it was at during October and November. The net loss [..]

Asian Session – Eurogroup on Greece yields no deal; aussie drops on unemployment

Posted on February 12, 2015 at 8:07 am GMT

Foreign exchange majors were little changed during today’s Asian session. The US dollar stayed above the 120 level versus the yen (around a 1-month high), whereas the euro returned to the 1.1315 level. The euro’s trading range increased from 1.1277 to 1.1350 during the previous day as the pair awaited news from a crucial Eurozone finance ministers’ marathon 7-hour meeting in Brussels. Rumors of some sort of deal between Greece and its creditors helped the euro higher initially, only for [..]

Technical Analysis – AUDUSD moves another leg lower

Posted on February 12, 2015 at 7:46 am GMT

AUDUSD plunged down to 0.7642 on Thursday, approaching close to the 5-1/2 year low of 0.7625 that was reached on February 3. A break below this would open the way towards 0.7500. To the upside the market is capped at 0.7950 – the 61.8% Fibonacci retracement of the upleg from 0.6008 (Oct 2008 low) to 1.1078 (Sept 2011 high). The overall trend remains bearish as the market has been making lower peaks and lower troughs since the September 2014 high [..]

European Session – Euro slips below 1.1300 as markets await news out of Eurogroup

Posted on February 11, 2015 at 3:24 pm GMT

Economic data releases were almost nonexistent today leaving the focus still on Greece. As a result, the euro was range-bound above 1.1300 for most of the European session while the dollar was broadly stronger. Towards the end of the session it dipped to 1.1288. The downside bias remains strong and the currency is merely waiting for a catalyst for a move lower. The core driver will likely be any negative news headlines out of the Eurogroup finance ministers meeting on Greece on today. [..]

Forex News – Fed’s Lacker supports June rate hike

Posted on February 11, 2015 at 2:23 pm GMT

A mid-year interest rate hike by the Federal Reserve is now a possibility after comments made by Richmond Fed President Jeffrey Lacker who spoke on Tuesday in Raleigh, North Carolina. He added that it did depend on the economic data though but he believes that raising rates in June would be an “attractive” option on the basis of a stronger dollar. Lacker is a voting member of the Fed’s policy committee this year, so investors took note of his hawkish remarks, [..]

Asian Session – Dollar rallies versus yen; euro awaits Eurozone Finance Ministers

Posted on February 11, 2015 at 8:15 am GMT

The US dollar posted gains against the yen during Wednesday’s Asian session, making a fresh 1-month high at 119.65, as positive risk sentiment, a rise in US government bond yields and a complacent attitude by the G20 on yen depreciation, fueled gains in the pair. Expectations for Fed rate hikes as early as this summer received a boost after Richmond Fed President Jeffrey Lacker said a June rate hike looked like an attractive option. San Francisco Federal Reserve President John [..]

Technical Analysis – USDJPY consolidates, scope for upside

Posted on February 11, 2015 at 7:58 am GMT

USDJPY consolidated after a sharp rally from 105.19 (October 15, 2014 to 121.84 (December 8, 2014). Strong support lies at 115.55 (December 16 low). This level is also the 38.2 Fibonacci retracement of the 105.19 – 121.84 upleg. Meanwhile, below 115.55 would turn bias back to the downside to target 113.50 (the 50% Fibonacci). Strong resistance is seen between 120.81 and 121.84 to limit upside and bring reversal. The long term trend remains bullish as long as the market remains [..]

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