The US$ has bounced back on Thursday, with the DXY now at 97.17 after another round of solid US jobs data, in which the initial claims fell by -8k to 196k, below expectation of 210k, to make the lowest reading since 1969, a 50 year low! In other US data, the March PPI rose 2.2%yy, well above… Read More »
The US$ is generally firmer today although the ranges are limited and there is no real change in the outlook for most pairs. The most interesting moves have been in Gold and Silver, where the possibility of a head/shoulder top remains in place with good potential downside momentum for both. If the neckline for each of these were… Read More »
The major FX pairs are mixed at the end of a busy session on Wednesday, although the DXY is slightly lower. The ECB kept monetary policy unchanged, the US CPI come in mixed but pretty much in line with expectations and the FOMC Minutes showed that the Fed are unlikely to make any move on rates in… Read More »
The FX Markets have remained mixed following a day of heavy duty data although it produced little new direction and the only real directional bias in the charts seems to come from a firmer AUD$ and a slightly softer Chf. EurUsd has been stuck in a 1.1229-86 range, and the Head/Shoulder base still appears to be valid, despite… Read More »
The FX Markets remain mostly rangebound ahead of the heavy duty calendar coming up today, but the dovish IMF report predicting lower growth output for 2019 seems to have put a dent into risk sentiment, sending stocks and oil a little lower. EurUsd reached 1.1283 on Tuesday, and the Head/Shoulder base has a target of 1.1325 but needs… Read More »
The US DXY is more or less unchanged at the end of Tuesday trade, currently at 97.02 although it has been a choppy session with various factors influencing the price action. The dollar has jumped around a bit on the back of another tweet from Donald Trump, who confirmed his intention to escalate a trade war with… Read More »
The US$ is a little weaker today, with the Euro being a beneficiary following the release of some better expected data from the EU. The Eurozone Sentix Investor Confidence rose to -0.3 in April, up from -2.2, beating the expectation of -2.0and the best reading in 5 months. The expectations index also rose, to -4.3, the highest… Read More »
Monday has got off to a mostly rangebound start, although EurUsd has made some gains in taking out last week’s high, reaching 1.1273, and has put in a Head/Shoulder base which now has a target of 1.1325. Interim resistance is seen at 1.1285 (38.2% of 1.1447/1.1182) and at 1.1315 (50% pivot of 1.1447/1.1182). Beyond 1.1325 would look towards… Read More »
The US Unemployment data provided very little directionally in any of the markets and there is not an awful lot to go on at the start of the week. We therefore look likely to be fairly rangebound, possibly until the ECB Meeting on Wednesday. In the FX space, there is very little directional bias although the Kiwi does… Read More »
Markets were mostly steady on Friday after the US employment data came in mixed, but broadly in line with expectations. The Nonfarm payrolls rose by 196,000 jobs in March, above expectations of 175K, while the figure for February was revised up to 33K, from the previously reported 20K. The headline unemployment rate held steady at 3.8%, while… Read More »