The euro has certainly fallen, but this isn’t reflected in inflation. Will Draghi call for patience, expressing optimism but risking a rise in the value of the euro? Or will he keep pushing the “ready to do more” mantra and hit the euro when it’s down, sending EUR/USD to the comfort zone closer to 1.20? Follow … “ECB Preview: Draghi to hit the euro when it’s down?”
Month: October 2014
UK Pound Pulls Back After Earlier Gains
UK pound is heading lower right now, pulling back after earlier gains. Good economic data provided some support for the sterling, but now profit taking has taken its toll, and lower equities are weighing on the pound. The latest economic data out of the United Kingdom has been better than expected. Markit Construction PMI came in at 64.2, when many expected it to fall to 63.5. Not … “UK Pound Pulls Back After Earlier Gains”
Dollar Index Loses Ground
US dollar is mostly lower today against its major counterparts, and the dollar index is losing steam. Much of it has to do with consolidation and profit taking, however. The dollar is on a roll, and some analysts think the dollar rally still has plenty of life. Greenback is seeing some losses today, falling against the euro as well as the yen. US dollar is higher against the pound, though. But … “Dollar Index Loses Ground”
US Dollar Index Weekly Analysis
In the previous analysis we had pointed out to possible weaknesses in the US Dollar Index. While we were first expecting to see a retest of support at 81.5 ahead of the resistance level of 84.5, the Dollar Index simply rallied higher and broke this key resistance level. The follow up article then identified an … “US Dollar Index Weekly Analysis”
EURGBP- Bearish, Threatens Further Downside
EURGBP- We continue to hold our downside bias on the cross as it continues to maintain its bearishness. On the downside, support lies at the 0.7800 level where a break will expose the 0.7780 level. Further down, support comes in at the 0.7750 level where a violation will turn attention to the 0.7700 level. Its … “EURGBP- Bearish, Threatens Further Downside”
German, Eurozone Data Weigh on Euro
Euro is seeing more weakness today, and that’s not surprising, given the latest economic data out of the eurozone. Also not helping matters is the fact that the latest data out of Germany is disappointing as well. With the eurozone economy continuing to flounder, the more likely it is that ECB will take increasingly drastic steps to try to stimulate the situation. Euro is down across the board today, dropping against its … “German, Eurozone Data Weigh on Euro”
GBP/USD: Trading the ADP Non-Farm Payrolls
The ADP Nonfarm Employment Change measures the change in the number of employed people in the US, excluding workers in the farming industry. A reading which is higher than the market forecast is bullish for the dollar. Update: ADP Non-Farm Payrolls 213K – slightly above expectations Here are the details and 5 possible outcomes for GBP/USD. … “GBP/USD: Trading the ADP Non-Farm Payrolls”
Forex Crunch Key Metrics September 2014 – Volatility is
The month of September saw a complete turnaround in site metrics. The surge in volatility resulted in the best month ever for Forex Crunch. Thanks to the Scottish Referendum, the ECB’s measures and the dollar rally among other events, the interest in forex trading and Forex Crunch has certainly risen. The improvement is seen not only in … “Forex Crunch Key Metrics September 2014 – Volatility is”