The DXY today made a new 13 year high at 100.57, taking out the December 2015 high at 100.51 in doing so, before correcting a little to currently sit at 100.33. The daily momentum indicators suggest that the….
The US$ is firm at the end of Wednesday trade although off its highs after the dollar index (DXY) briefly broke above the December 2015 high of 100.51 to make a 13 year high at 100.53. It is a little lower going into the US session close, but a strong CPI reading due later today could be the catalyst to provide renewed momentum data to carry the dollar to new highs. As for the Wednesday session……..
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The US$ has retained its positive momentum in the US session following the upbeat release of the October US retail sales, which rose by 0.8% versus expectation of 0.5%. The ex-auto sales rose 0.8%, also above expectation of 0.6%. In other positive news from the US, the NY Empire state manufacturing index rose to 1.5 in November, above expectation of -1. The DXY has broken above 100.00 and is now not too far away from……..
US$ strength has been the main theme at the start of the week, underpinned by the spike up in bond yields, where the 10 Year is now holding above 2%, while to 30 year has broken above 3% for the first time since early January. In the currency markets, the Yen, Euro and Chf have been under ……………..
GBPUSD: 1.2595 Resistance Support 1.2820 (61.8% of 1.3445/1.1821) 1.2500 Minor 1.2770 Minor 1.2450 Minor 1.2700 55 WMA 1.2425 100 HMA 1.2670 Minor 1.2400 (23.6% of 1821/1.2556) 1.2640 Minor 1.2300 Rising trend support Bias Sterling outperformed again on Friday, by heading up to 1.2673 as shorts were covered, before giving up some of the gains to […]
AUDUSD: 0.7540 Resistance Support 0.7650 (50% of 0.7777/0.7525) 0.7525 Friday low 0.7621 (38.2% of 0.7777/0.7525) 0.7505 13 Oct low/200 DMA 0.7600 Minor 0.7495 100 WMA 0.7585/88 (23.6% of 0.7777/0.7525)/100 DMA 0.7460 Minor 0.7560 Minor 0.7441 13 Sept low Bias Following last week’s spike up to a new 7 month high at 0.7777 the Aud$ has […]
EURUSD: 1.0854 Resistance Support 1.0975 100 HMA 1.0830 Friday low 1.0940 (23.6% of 1.1299/1.0830) 1.0821 10 Mar low 1.0923 Friday high 1.0800 Minor 1.0900 Minor 1.0775 (76.4% of 1.0521/1.1616) 1.0875 Minor 1.0710 5 Jan low Bias Eur/Usd remained heavy on Friday, with the dollar still underpinned by Trumps victory, and headed into the good support […]
The US$ remained firm heading into the weekend as investors digested the monumental ramifications of a Trump administration, with the possibility of a pickup in inflation heading into 2017 on the back of a renegotiation of free-trade deals and an unleashing of large fiscal stimulus measures. Elsewhere, commodities collapsed, led by……