US Nonfarm Employment Change measures the change in the number of newly 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. Here are the details and 5 possible outcomes for EUR/USD. Update: Non-Farm Payrolls + 295K – excellent news – … “EUR/USD: Trading the US NFP Mar 2015”
Month: March 2015
USD/JPY, USD/CAD: Bullish Setup; EUR/USD: Breakout – BofA Merrill
What’s next for the US dollar against the yen, Canadian dollar and the euro? Here are some technical setups from Bank of America Merrill Lynch: Here is their view, courtesy of eFXnews: USD/JPY is on the verge of completing its 3m range trade and resuming its long term bull trend for 120.49, notes Bank of America … “USD/JPY, USD/CAD: Bullish Setup; EUR/USD: Breakout – BofA Merrill”
EURUSD: Weakens, Eyes Key Support
EURUSD: With seen weakening, further decline towards its key support the 1.1096 level is expected. Support is seen at 1.1050 level with a cut through here opening the door for more downside towards the 1.1000 level. Further down, support lies at the 1.0950 level where a break will expose the 1.0900 level. Its daily RSI … “EURUSD: Weakens, Eyes Key Support”
Poland’s Central Bank Cuts Interest Rates, Zloty Weakens vs. Dollar
Poland’s central bank decided to perform an interest rate cut today, reducing all of its borrowing costs by half of a percentage point. Such decision resulted in a drop of the Polish zloty against the US dollar. The currency was still stronger than the euro. The National Bank of Poland cut its interest rates by 0.5 percentage point, meaning that the reference rate stands at 1.5 percent now. The size of the cut was bigger than … “Poland’s Central Bank Cuts Interest Rates, Zloty Weakens vs. Dollar”
Indian Rupee Drops as RBI Performs Another Interest Rate Cut
The India rupee dropped today after the nation’s central bank cut its interest rate, including the key Bank Rate. The bank also commented on the strength of the currency, considering it excessive. While the currency was down against the US dollar, it managed to outperform the extremely weak euro. The Reserve Bank of India reduced several interest rates today, including its main rate that was cut by 25 basis points … “Indian Rupee Drops as RBI Performs Another Interest Rate Cut”
Eurozone fundamentals improving, eventually EUR should follow
Cheaper oil, low interest rates and strong US growth may be starting to work their magic on the flagging Eurozone economy – if so a recovery of the EUR should follow in due course. For now the EUR remains under pressure, not least with the European Central Bank launching its EUR 1.1 trillion quantitative easing … “Eurozone fundamentals improving, eventually EUR should follow”
Eurozone Economy Improves, But Euro Still Struggles
Euro continues to struggle today, even after evidence that the eurozone economy is improving. In fact, eurozone economic progress is beating expectations. However, Greece and Ukraine continue to raise questions, and the ECB is still preparing to go forward with its money printing program. These items weigh on the 19-nation currency. Reuters recently compiled a variety of economic data from the eurozone and found that things have improved more … “Eurozone Economy Improves, But Euro Still Struggles”
USDCAD: Caps Strength, Turns Lower
USDCAD: Having capped its strength at 1.2442 level to turn lower during Tuesday trading session, further downside pressure is envisaged. On the downside, support lies at the 1.2400 level followed by the 1.2350 level. Further out, support resides at the 1.2300 level and then the 1.2250 level. Its daily RSI is bearish and pointing lower … “USDCAD: Caps Strength, Turns Lower”
USD Consolidates Then Moves Up: Themes, Forecasts, Risks –
After some range trading for the US dollar during February, what’s next for the greenback? Here are views on the themes that are set to rock the US dollar and forecasts for a few pairs: Here is their view, courtesy of eFXnews: The following is Bank of America Merrill Lynch’s comprehensive outlook for the USD including … “USD Consolidates Then Moves Up: Themes, Forecasts, Risks –”
US Dollar Continues Its Climb
Greenback is mostly higher today, continuing its recent climb. Even though the greenback eased back from a dollar index high not seen for more than a decade, the currency is still heading steadily higher today. In earlier trading, the US dollar index reached an 11-year high. However, after touching that level, the greenback pulled back a little bit. Coming economic reports out of the United States and Europe … “US Dollar Continues Its Climb”