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Month: November 2015
Dollar Logs Weekly Gains Despite Some Obstacles
The US dollar managed to log gains during the past trading week even though the currency has started trading from correction and had a confusing reaction to the Federal Reserve minutes. The dollar was in a consolidation mode at the start of this week’s trading after the massive rally at the end of the preceding week. The minutes of the Fed’s October meeting complicated the matter further, leading to a softness of the currency. It was surprising as the notes looked rather hawkish. Some … “Dollar Logs Weekly Gains Despite Some Obstacles”
USDCHF Targets Bear Pressure On Pullback
USDCHF: With USDCHF triggering a correction on Thursday, it looks to extend that weakness further. While its resistance at the 1.0201/19 zone caps, it looks to break below the 1.0100 level. On the downside, support lies at the 1.0100 level. A turn below here will open the door for more weakness towards the 1.0050 level … “USDCHF Targets Bear Pressure On Pullback”
US Dollar Mixed During Friday’s Session
The US dollar was mixed today as no economic data from the United States was scheduled for the current trading session. This means that the greenback was reacting to moves of other currencies for the most part. The dollar gained on weak currencies, like the euro and the Great Britain pound. Yet it was flat against the Japanese yen. The greenback also struggled against some commodity-related currencies, though not the Canadian dollar, which … “US Dollar Mixed During Friday’s Session”
Draghi Talk Continues to Keep Euro Down
Euro is down again today, thanks in large part to more comments from ECB President Mario Draghi. He continues to talk about quantitative easing, and that is providing impetus for a lower euro. Earlier, euro saw a bit of a comeback against some of its major currencies. Lower retail sales in the United Kingdom and the indication that the Federal Reserve will raise rates gradually all helped the euro make some … “Draghi Talk Continues to Keep Euro Down”
UK Pound Mostly Lower on Retail Sales Data
It’s been a choppy couple of days for the UK pound. Thanks to data releases and speculation, things are a little unsettled. Sterling is mostly lower today, thanks to the latest retail sales information. UK pound was higher yesterday, in spite of disappointing retail sales data, thanks to the latest indications from the United States Federal Reserve. With the Fed signaling gradual interest rate increases, the sterling got a boost. However, today … “UK Pound Mostly Lower on Retail Sales Data”
Canadian Dollar Shows Better Performance
Today, the Canadian dollar fared better than yesterday, rising against the euro and paring initial losses versus the US dollar and the Japanese yen. Economic data released from Canada over Friday was mixed, giving the currency no particular edge. On the positive side, Canada’s Consumer Price Index rose 0.1 percent in October from September (not seasonally adjusted). The core CPI inched up 0.3 percent, beating market … “Canadian Dollar Shows Better Performance”
USDJPY Remains Vulnerable On Loss Of Upside Steam
USDJPY: Having started a strong corrective weakness on Thursday, the pair is now looking for more declines. This is coming on the back of a loss of upside momentum off the 123.63 high. On the downside, support comes in at the 122.50 level where a break if seen will aim at the 122.00 level. A … “USDJPY Remains Vulnerable On Loss Of Upside Steam”
Canadian Dollar Demonstrates Weak Performance
The Canadian dollar was attempting to rise against its US peer today but has almost erased its gains by now. The currency fell against its other major rivals, including the euro and the Japanese yen. Canada’s wholesale sales dropped 0.1 percent in September, the same as in August. The actual reading was a way off analysts’ forecasts that had promised an increase by 0.2 percent. On top of that, crude oil was … “Canadian Dollar Demonstrates Weak Performance”
AUDUSD Turns Focus On 0.7223 On Correction
AUDUSD: Although maintaining its broader medium term downtrend, AUDUSD faces risk of further recovery higher after it followed through on the back of reversal of its intraday losses on Wednesday. This price action has opened up risk on the upside towards the 0.7223 level. On the upside, resistance lies at the 0.7200 level. A cut … “AUDUSD Turns Focus On 0.7223 On Correction”