The euro today rallied higher against the US dollar despite the lack of any major economic releases from the Eurozone, while US markets remained closed. The euro’s rally was largely triggered by the aggressive selling of the US dollar across the board. The EUR/USD currency pair gained over 100 points to rally from a low of 1.2187 to hit a high of 1.2296 in the mid-European session. The euro carried over Friday’s massive rally, which was … “Euro Rallies Higher Despite Lack of Major Economic Data”
Month: January 2018
Euro Rallies Higher on German Coalition Talks Breakthrough
The euro today rallied higher against the US dollar after news emerged that Angela Merkel was finally on the verge of forming a coalition government. The euro extended yesterday’s rally, which was triggered by the hawkish European Central Bank minutes, as the German political headlines ended months of uncertainty. The EUR/USD currency pair gained over 100 points to rally from a low of 1.2039 to a high of 1.2149 in the early American session. The euro’s biggest … “Euro Rallies Higher on German Coalition Talks Breakthrough”
Euro Rallies Higher on ECB Minutes and Weak US Data
The euro today rallied to new highs against the US dollar after the European Central Bank released the minutes of its last meeting. The single currency rallied much higher during the early North American session after the release of weak US macro data. The EUR/USD currency pair gained over 100 points to rally from a low of 1.1928 hit in the early European session to reach a high of 1.2060 in the early American session. The release … “Euro Rallies Higher on ECB Minutes and Weak US Data”
US Dollar Retreats as Economic Data Reveals Signs of Lagging Inflation
The US dollar declined against the euro on Thursday following economic data in the United States that showed a small drop in prices at factory gates, which is an important indicator of inflation. The greenback also retreated against the British pound, despite the lack of positive releases in the United Kingdom today. US producer prices dropped for the first time in about one and a half years in December, according to a fresh report from the Bureau of Labor Statistics. The producer … “US Dollar Retreats as Economic Data Reveals Signs of Lagging Inflation”
Scope For Further JPY Strength Towards 110 After BoJ’s Move – BTMU
The Bank of Japan triggered a “mini taper tantrum” with its tests. In addition, the news about China’s intention to slow buys of US Treasuries also played its part in pushing USD/JPY lower. What’s next? Here is their view, courtesy of eFXnews: BTMU FX Strategy Research discusses USD/JPY outlook and notes that the JPY is the … “Scope For Further JPY Strength Towards 110 After BoJ’s Move – BTMU”
British Pound Swings Widely on UK Data and Chinese Rumors
The British pound today recorded wide swings against the US dollar as it dropped to 8-week lows and rallied higher on US dollar weakness. The rally was mainly triggered by rumors originating from China, but was short-lived as the pound headed lower much later. The GBP/USD currency pair started today’s session on a downtrend where it hit a low of 1.3482, but it rallied higher to hit a high of 1.3562 in the mid-European session. … “British Pound Swings Widely on UK Data and Chinese Rumors”
How EUR/USD respects technical levels in 2018 – 4 examples
EUR/USD, the world’s most popular currency pair, is moving at a slow rate. This may frustrate many traders who are looking for those long-forgotten big breakouts. However, the comatose pace doesn’t mean choppy trading, at least now in these first days of 2018. Here is what happened with euro/dollar so far in the new year. … “How EUR/USD respects technical levels in 2018 – 4 examples”
British Pound Declines on Chaotic Cabinet Reshuffle
The British pound today registered a massive drop against the US dollar after a cabinet reshuffle by Theresa May turned chaotic. The cabinet reshuffle turned chaotic after the Education Secretary Justine Greening quit the government and Health Minister Jeremy Hunt refused to vacate his office. The GBP/USD currency pair lost over 70 points from a daily high of 1.3582 hit during the Asian session to hit a low of 1.3510 in the early American … “British Pound Declines on Chaotic Cabinet Reshuffle”
Euro Declines Despite Solid German Data as Traders Remain Cautious
The euro fell against the US dollar and the British pound on Tuesday, despite positive economic data in Germany, Europeâs biggest economy. Demand for the shared currency was faint as caution spread between traders as they worried of corrective movements that may follow a rally that lasted for months. Destatis, Germanyâs official statistical office, released two reports earlier today on industrial production and trade balance. The first report stated that industrial … “Euro Declines Despite Solid German Data as Traders Remain Cautious”
EUR/USD: After losing 1.20, what’s next? 4 opinions
EUR/USD lost the 1.20 level. While it hasn’t been able to regain it, the pair isn’t falling too fast either. What’s next? Here are four opinions. Here is their view, courtesy of eFXnews: EUR/USD: ‘Beware Of Bull Trap Risks’: Key Levels To Watch – BofAML Bank of America Merrill Lynch Research discusses EUR/USD technical outlook … “EUR/USD: After losing 1.20, what’s next? 4 opinions”