Monday 13th May: Weekly technical outlook and review
The Australian dollar weakened further against the US dollar over the course of last week, extending losses beneath the 2019 yearly opening level at 0.7042.
Friday 10th May: Trade and geopolitics continues to dictate currencies.
Heading into the later phase of Thursday’s segment the market observed a modest recovery take shape, bolstered on the back of commentary from US President Trump stating it was still possible for the US and China to reach a deal this week.
Thursday 9th May: Dollar steady ahead of Fed Chair Powell speech and PPI figures.
The DXY, or US dollar index, retained its bid tone yesterday, though remains struggling to overthrow a weekly resistance positioned at 97.72.
Wednesday 8th May: Greenback grinds north, though has gains capped on trade concerns.
US equities declined sharply Tuesday, as financial markets contended with the risk of an all-out trade war between China and the United States. The S&P 500 ended the session down 1.65%.
Tuesday 7th May: Dollar remains languishing beneath weekly resistance; further downside possible.
Sterling reclaimed a large portion of Friday’s NFP-induced gains Monday, weakened on the back of comments from senior Labour figures, who chucked cold water over the prospect of an imminent cross-party development.
Monday 6th May: Weekly technical outlook and review.
Violating a two-week bearish phase within the parapets of a long-standing demand zone at 1.1119-1.1295, the EUR/USD recovered in reasonably strong fashion last week.
Friday 3rd May: Greenback eyes 98.00 ahead of today’s NFP.
The US dollar index also regained weekly resistance at 97.72, potentially offering support going forward.
Thursday 2nd May: Pound eyes 1.30 ahead of ‘Super Thursday’
Sterling maintained recent momentum Wednesday, reinforced by better-than-expected Markit manufacturing PMI as well as upbeat rhetoric regarding the state of cross-party Brexit negotiations.
Wednesday 1st May: Dollar trades on the back foot ahead of the highly-anticipated FOMC meeting.
A faster-than-anticipated pickup in the Eurozone economy during the first quarter, as well as a diminishing greenback, elevated the H4 candles beyond its 1.12 neighbourhood to a session high of 1.1229.
