AUD/USD witnesses a modest pullback from the vicinity of a two-month high set on Thursday. The USD short-covering move is seen as a key factor exerting downward pressure on the pair. The risk-on impulse offers some support to the risk-sensitive aussie and limits the downside. The AUD/USD pair faces rejection near a technically significant 200-day… Read More »
EUR/USD loses the grip and returns below 1.0300. EMU Industrial Production expanded 2.4% YoY in June. US flash Consumer Sentiment next of note in the docket. The single currency loses some shine and forces EUR/USD to retreat to the sub-1.0300 region on at the end of the week. EUR/USD weaker on USD-reovery EUR/USD gives away… Read More »
Here is what you need to know on Friday, August 12: The risk rally that was fueled by the soft US inflation data mid-week lost its steam and the market action turned choppy ahead of the weekend. The US Dollar Index moves sideways in a narrow channel above 105.00, the 10-year US T-bond yield holds… Read More »
The index manages to leave behind part of the recent drop. US yields come under some mild downside pressure. Preliminary Consumer Sentiment next on tap in the docket. The greenback attempts a tepid rebound and revisits the low-105.00s when tracked by the US Dollar Index (DXY) at the end of the week. US Dollar Index… Read More »
USD/CHF broke below the 200-DMA, ending the major’s upward bias. In the near term, the USD/CHF is neutral to downwards, but buyers reclaiming 0.9450 exerts upward pressure on the major. The USD/CHF stumbles for the sixth consecutive day and breaks support provided by the 200-DMA at 0.9427, shifting the major’s bias downwards, with sellers reclaiming… Read More »
The NZD/USD advances for the second straight day, up in the week by 3.03%. The US PPI for July rose by 9.8% YoY, less than estimates and last month’s reading. US Initial Jobless Claims jumped for two consecutive weeks, hinting the labor market is moderating. The NZD/USD climbs above the 100-day EMA around 0.6439, courtesy… Read More »
USD/CAD extended its losses for the second straight day as sellers eye a break of the 200-DMA. July’s US inflation reports show signs of peaking, with CPI at 9% YoY and PPI at 10% YoY, below their previous month’s readings. Traders’ focus shifts toward the University of Michigan Consumer Sentiment and Inflation Expectations. The USD/CAD… Read More »
US July PPI drops unexpectedly in July while jobless claims hit monthly highs. The dollar remains in negative territory, even as US yields rise. EUR/USD up for the fifth consecutive day, holds under Wednesday’s top. The EUR/USD failed to break Wednesday’s highs around 1.0355 and pulled back. It is hovering around 1.0325 as the US… Read More »
The GBP/USD drops almost 0.05% amidst a risk-off impulse while the US dollar weakens. US prices paid by producers easied, while unemployment claims jumped for the second consecutive week. GBP/USD Price Analysis: Retreated from a descending-channel trendline, eyes a break below 1.2200. GBP/USD edges lower off the weekly highs around 1.2276 near a top-trendline of a… Read More »
EUR/USD fades the initial knee-jerk and regains 1.0300. The dollar remains offered in the wake of US CPI results. US Producer Prices will be the salient event in the calendar. The optimism around the European currency looks unabated and bulls now push EUR/USD back to the area beyond 1.0300 the figure on Thursday. EUR/USD bolstered… Read More »
