EUR/USD made a last-minute drop to end the first week of Q2 at critical support. What’s next? Here is their view, courtesy of eFXnews: EUR/USD: Make Or Break At 1.0590 – JP Morgan JP Morgan FX Technical Strategy Research notes that EUR/USD key-reversal down the market has extended its losses slightly but lost down-momentum as … “EUR/USD at strong support – what’s next?”
Month: April 2017
US Dollar Ends Week Strong as Markets Ignore NFP
US nonfarm payrolls should have been the major event this week, but in reality it turned out to be kind of a non-event as markets almost ignored the report, allowing the US dollar to end the week rather strong. The official employment report showed very underwhelming growth, which was a huge surprise considering that the private ADP data released beforehand demonstrated a very different picture. The dollar fell after the report … “US Dollar Ends Week Strong as Markets Ignore NFP”
EUR/USD Declines to Close the Week Much Lower Despite Poor NFP Data
The EUR/USD currency pair declined significantly as the euro weakened against the US dollar despite lower-than-expected US non-farm payroll report. The positive German trade balance figures did little to boost the weak euro as the currency pair tested new lows for the month and was on track to close below its opening price this week. The currency pair lost over 70 points at the height of its decline and has been on downward trend for the better … “EUR/USD Declines to Close the Week Much Lower Despite Poor NFP Data”
Canadian Dollar Gets Boost from Economic Indicators & Oil Prices
The Canadian dollar rallied against its major peers today thanks to solid macroeconomic data and the rally of crude oil prices. Canadian employment grew by 19,400 in March from February compared to just 5,700 predicted by analysts. The unemployment rate increased from 6.6% to 6.7%, but that was expected. The Ivey Purchasing Managers Index climbed from 55.0 in February to 61.1 in March, beating expectations by a wide margin. The trading environment was … “Canadian Dollar Gets Boost from Economic Indicators & Oil Prices”
US Dollar Unfazed by Abysmal Nonfarm Payrolls
US nonfarm payrolls released today were extremely disappointing with meager employment growth. The dollar tumbled immediately after the report, as one could expect, but the losses were very short-lived, surprisingly enough. Currently, the greenback trades rather strong. According to the report, US employers added just 98,000 jobs in March instead of 175,000 promised by forecasters. At the same time, the unemployment rate fell unexpectedly from 4.7% to 4.5% — the lowest … “US Dollar Unfazed by Abysmal Nonfarm Payrolls”
NFP Analysis: The Good, the Bad and the Ugly
The initial reaction to a gain of less than 100K was clearly a disappointment. However, some of the details in the report are encouraging. This allowed the US dollar to bounce back. Here is a quick analysis of the key points related to the Non-Farm Payrolls report. There are many silver linings that eventually help the greenback … “NFP Analysis: The Good, the Bad and the Ugly”
UK Economic Reports Fail to Impress, Sterling Under Pressure
The Great Britain pound dropped today as basically all reports released from the United Kingdom during the current trading session were bad and missed market expectations. The Halifax House Price Index did not change in March from February even though analysts had promised a small increase by 0.2%. Manufacturing production fell 0.1% and industrial production shrank by 0.7% in February from the previous month while markets were expecting … “UK Economic Reports Fail to Impress, Sterling Under Pressure”
5 Bitter Truths Every Trader Needs to Know About Forex
The internet today is flooded with so many sweet-mouthed marketers, ready to convince you into signing up for their forex brokerage services. In most situations, they go as far as telling you that trading the forex market with their brokerage platform will give you an edge of making more money from trading. Most times they … “5 Bitter Truths Every Trader Needs to Know About Forex”
Yen Climbs After USA Attacks Syrian Military Base
The Japanese yen climbed today as US President Donald Trump authorized military strike on the Syrian airbase. The USA claimed that the strike is a response to the chemical weapon attack that killed dozens of civilians earlier this week and for which the United States blamed Syria and its President Bashar al-Assad. That will strain US relationships with Russia and China as those countries back Assad. As it often happens, the yen gained … “Yen Climbs After USA Attacks Syrian Military Base”
USD looking for a new direction, EUR/USD stuck at triple
The US dollar is awaiting the NFP. But will it indeed move afterward? In general, what’s next for the greenback? Here is their view, courtesy of eFXnews: USD: Attractive To Use Periods Of Elevated Doubt To Add Long Exposure – BNPP BNP Paribas FX Strategy Research continues to favor adding to USD longs on weakness. BNPP notes … “USD looking for a new direction, EUR/USD stuck at triple”