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.
Wednesday 6th November: Dollar circulates below 98.00; eyes weekly trend line resistance.
Key risk events today: Crude Oil Inventories. EUR/USD: In recent sessions, […]
Tuesday 5th November: Havens wane on positive trade-deal hopes.
Key risk events today: RBA Rate Statement and Cash Rate; UK […]
