GBPUSD: Having held off the 1.4633/00 zone, we look for GBPUSD to strengthen further above that level in the days ahead. On the downside, support lies at the 1.4550 level where a break if seen will aim at the 1.4500 level. A break of here will turn attention to the 1.4400 level. See how to … “GBPUSD Holds Above Key Supports, Eyes Further Upside”
Month: April 2015
Sterling Retains Monday’s Gains vs. Dollar
The Great Britain pound rallied on Monday but retreated a bit against the euro and Japanese yen today. At the same time, the currency retained its gains versus the US dollar with the help of a positive retail sales report. UK indicators were not supportive for the sterling lately, so the positive retail sales data from British Retail Consortium was welcomed by traders (at least those of them who have made bullish bets … “Sterling Retains Monday’s Gains vs. Dollar”
Euro Continues Depreciation
The euro extended its decline during the Monday’s trading session after Italian industrial production demonstrated mixed performance in February. The euro touched the lowest level since June 2013 against the Japanese yen. Italy’s industrial production grew 0.6 percent in February from the previous month. Yet on the annual basis, the index dropped 0.2 percent. As a result, the report did not help the shared 19-nation currency in determining its direction. What … “Euro Continues Depreciation”
Yen Rallies After Positive Data & Comments from BoJ Chief
The Japanese yen rallied against its other major peers today, including the US dollar and the euro, after the positive economic data from Japan and optimistic remarks from the central bank’s head. Haruhiko Kuroda, Bank of Japan Governor, voiced confidence in Japan’s economic recovery today, saying that “Japan’s economy is expected to continue recovering moderately as a trend.” Meanwhile, the Producer Price Index rose 0.7 percent in March from … “Yen Rallies After Positive Data & Comments from BoJ Chief”
Double Top Confirmed as EURGBP Slides Lower
As a follow up to yesterday’s commentary, EURGBP has now closed below the neckline at .7225 on a 4 hour basis. This confirms the double top between March and April. From here we can watch for a retest of the level as new resistance. Potential support areas to the downside include .7154 and the 2015 … “Double Top Confirmed as EURGBP Slides Lower”
Yuan Drops as Trade Surplus Shrinks
The Chinese yuan fell against the US dollar today as the drop of the nation’s trade balance surplus was far bigger than market participants have anticipated, fueling concerns about slowing growth of the world’s second biggest economy. The trade excess shrank from $60.0 billion to just $3.1 billion in March versus the expected figure of $43.4 billion. The main contributor to the decline was export that fell unexpectedly instead of rising as analysts … “Yuan Drops as Trade Surplus Shrinks”
Buy USD/CAD Into BoC – Barclays Trade Of The Week:
The Canadian dollar has been trading in range, in quite a wide one. The next big thing for the loonie is the rate decision? How will it react? Can USD/CAD reach 1.30? Here is the view from Barclays: Here is their view, courtesy of eFXnews: Currency investors should consider staying long USD/CAD and keep buying on … “Buy USD/CAD Into BoC – Barclays Trade Of The Week:”
Aussie Pulls Back After Chinese Data
Australian dollar is heading lower today, thanks mainly to disappointing Chinese data. With Chinese data down, and concerns about the Australian economy, there is speculation that the RBA will have to consider cutting rates again. Aussie is down across the board today, following the latest economic data out of China. The world’s second-largest economy is one of Australia’s major trading partners, and the data indicates that China … “Aussie Pulls Back After Chinese Data”
Euro Loses Ground After Greece Fails to Offer Reforms
Euro is lower against its major counterparts today, thanks to a report that indicates that Greece has, once again, failed to offer sufficient structural reforms. Euro is lower across the board today as Greece becomes the focus for Forex traders and others around the world. There is a report that Greece failed to provide an outline of structural reforms to eurozone officials over the weekend, and that is increasing tensions between … “Euro Loses Ground After Greece Fails to Offer Reforms”
USDown or greenback comeback? And more – Market Movers
What’s going on in America? Where is the dollar headed? That is the focus of our latest episode as the Easter holidays are behind us and markets are on the move. We also cover slippery oil and the state of the Aussie. You are welcome to listen, subscribe and provide feedback. What’s next for the dollar?: The Non-Farm … “USDown or greenback comeback? And more – Market Movers”