Thursday 23rd January: US Dollar Index Retesting Channel Resistance-Turned Support (99.67); Eyes Nearby Resistance at 97.86.
Key risk events today: EUR Main Refinancing Rate, Monetary Policy Statement […]
Wednesday 22nd January: USD/CAD Consolidates Ahead of BoC.
Europe’s single currency concluded the day a shade lower against the US dollar, despite EUR/USD gleaning some traction via an encouraging German/Eurozone ZEW survey earlier in the session.
Tuesday 21st January: Technical Outlook and Review.
Key risk events today: BoJ Outlook Report and Monetary Policy Statement; […]
Monday 20th January: Weekly Technical Outlook and Review.
The US dollar continued to flourish against its major G10 peers Friday, crossing last Friday’s pre-NFP high of 97.58 (US dollar index). The greenback caught tailwinds from stronger-than-expected housing starts data, though largely ignored disappointing industrial production, mixed UoM (consumer sentiment) and US Treasury yields fading daily highs of 1.851%.
Friday 17th January: Broad-Based USD Buying Weighs on G10 Peers.
Key risk events today: China GDP q/y; China Fixed Asset Investment […]
Thursday 16th January: Dollar Dips Following US/China Signing Phase 1 Trade Deal.
The US and China have signed an agreement aimed at easing a trade war that has rattled markets and weighed on the global economy. Speaking in Washington, US President Donald Trump said the pact would be transformative for the US economy.
Wednesday 15th January: Technical Outlook and Review.
Although ranging more than 40 points on the session between 1.1144/1.1104, Tuesday concluded pretty much sideways. Intraday, a dip to lows just north of the 1.11 handle occurred, though price action swiftly recovered and traded to 1.1120+ amid US hours.
Tuesday 14th January: Modest Risk Rally Continues Ahead of Phase One Signing.
Pound sterling slipped lower Monday, pressured by lower-than-expected growth and manufacturing production data, as well as dovish comments from BoE’s Vlieghe.
Monday 13th January: Weekly Technical Outlook and Review.
Wednesday, in the shape of a 47-point downward move, overthrew not only the 200-day SMA (orange – 1.1139) but also a local channel support, taken from the low 1.0981. The nearby 50-day SMA (blue – 1.1090) entered the fold Friday, providing support by way of a bullish engulfing candle over Thursday’s doji indecision formation.
