Thursday 17th October: Technical outlook and review.
Thanks to sub-standard US retail sales and ongoing Brexit-related optimism, EUR/USD bulls continued to strengthen their grip Wednesday, adding more than 40 points and recording a second successive gain.
Wednesday 16th October: Dollar index languishing around the lower end of the week’s range ahead of packed macroeconomic calendar.
Key risk events today: UK CPI y/y; UK PPI Input m/m; […]
Tuesday 15th October: US, Canada and Japan set to return after long weekend.
Key risk events today: Australia Monetary Policy Meeting Minutes; BOJ Gov […]
Monday 14th October: Weekly technical outlook and review.
EUR/USD bulls remained on the offensive last week, extending the prior week’s recovery ahead of the 2016 yearly opening level at 1.0873, a reasonably notable support/resistance.
Friday 11th October: Safe-haven demand weakens as markets respond to US/China trade developments.
Europe’s shared currency, a beneficiary of dollar softness, clocked a weekly peak at 1.1033 Thursday before mildly paring gains into the close. The dollar index, or DXY, also overthrew 99.00 to the downside in recent movement, having shrugged off mixed US data in the form of CPI and weekly initial claims.
Thursday 10th October: US and Chinese officials square off today with higher tariffs looming if negotiators fail to break a five-month deadlock.
A spike in sterling to a session high of 1.2291 materialised amid London hours Wednesday, on the back of a time limited backstop rumour. The headline, however, was later denied by EU officials, also considered non-viable by DUP representatives.
Wednesday 9th October: Greenback buoyed north of 99.00 ahead of FOMC Meeting Minutes.
The US dollar index, or ‘DXY’, toppled its 99.00 threshold despite noticeably weaker-than-consensus US PPI data. Leaving 1.10 unchallenged, the H4 candles found resistance off September’s opening level at 1.0989, guiding the EUR/USD to a session low of 1.0940 on the day.
Tuesday 8th October: Dollar index trades south of 99.00; possible selling ahead.
Europe’s single currency kicked off the week subdued, ranging no more than 40 points against the US dollar. After clocking a session low of 1.0961, EUR/USD’s H4 candles shook hands with the key figure 1.10 (alongside September’s opening level at 1.0989) though failed to preserve an upside presence.
Monday 7th October: Weekly technical outlook and review.
Europe’s shared currency staged a modest recovery against the buck last week, snapping a two-week bearish phase a few points ahead of the 2016 yearly opening level at 1.0873.
