Wednesday 20th November: Markets largely unmoved ahead of FOMC.
Key risk events today: Canada CPI m/m, Common CPI y/y, Median […]
Tuesday 19th November: Dollar index extends losses off weekly trend line resistance.
Europe’s single currency kicked off the week in reasonably robust fashion, gliding to highs of 1.1090 before mildly paring gains into the close. Tops (green arrow) around the 1.1090 neighbourhood on the H4 timeframe is likely viewed as resistance in this market, as is the 1.11 handle.
Monday 18th November: Weekly technical outlook and review.
Should price action remain beneath this base, further downside is likely in store for the EUR/USD, while an upside violation could prompt a retest at the weekly resistance area 1.1119-1.1295.
Friday 15th November: US retail sales eyed as the dollar recedes lower.
Shaped by way of a bullish outside day configuration, EUR/USD movement recovered in reasonably robust fashion Thursday. Data out of Germany came with an upbeat tone and markets largely shrugged off better-than-expected US PPI figures.
Thursday 14th November: Dollar stable ahead of Powell testimony.
Federal Reserve Chairman Jerome Powell, in his testimony to the Congressional Joint Economic Committee, largely stuck to the script – policy on hold unless there is a meaningful change in the outlook.
Wednesday 13th November: Technical analysis and review.
Despite kicking off the week strongly, GBP/USD movement entered a reasonably narrow consolidation Tuesday, between 1.2873/1.2815. On the data front, unemployment in the UK ticked lower by 3.8% vs. 3.9%, while average earnings reported a 3.6% decline vs. 3.7%, revised from 3.8%.
Tuesday 12th November: Dollar snaps five-day winning streak; a retest of 98.00 likely in store.
Key risk events today: UK Average Earnings Index 3m/y; UK Claimant […]
Friday 8th November: Dollar index closes above 98.00 though faces weekly trend line resistance.
The European shared currency traded lower against the buck Thursday, erasing more than 0.15% and recording its fourth successive losing session. The dollar index firmed yesterday, breaching 98.00 to the upside as US Treasury yields rose sharply – 10-year note trades at 1.919% – amid positive US/China trade headlines that triggered safe-haven outflows.
Thursday 7th November: Havens gather momentum on news November’s phase one deal signing could be delayed to December.
Europe’s shared currency shifts into Thursday a shade lower against the buck, retreating from Wednesday’s high at 1.1092. Tier-1 macroeconomic data was limited Wednesday, though better-than-expected Eurozone services PMIs did provide fresh impetus.
