The Sterling pound today rallied higher against the US dollar following the release of a mostly positive UK labor market report in the early London session. The GBP/USD currency pair later retraced most of its gains as investors became worried about the Brexit process amid the UK political crisis. The GBP/USD currency pair today rallied … “British Pound Rallies on Jobs Data, Falls on Brexit Uncertainty”
Author: admin_mm
GBP/USD will have another reason to rise once Brexit is resolved
The UK jobs report came out significantly better than expected. This adds to the BOE’s reasons to raise rates and will push the pound higher. But nothing will move until Brexit is resolved. The UK published its labor market report around 12 minutes earlier than expected. Are UK authorities keen to show they are up-to-speed … “GBP/USD will have another reason to rise once Brexit is resolved”
Mixed Technical Analysis Signals Tear AUD/USD Apart
Price action seen in Australian dollar’s performance versus its US counterpart is affected by the conflicting perspectives presented by the different timeframes in the currency pair’s technical analysis. Long-term perspective On the daily chart (D1), the pair is contained within the descending channel that debuted at the start of February, 2018. The current phase is a consolidation one, being limited by 0.7308 as resistance and 0.7055 as support, and resembles a falling wedge. Although this type of pattern … “Mixed Technical Analysis Signals Tear AUD/USD Apart”
Canadian Dollar Weakens on Bearish Forecasts
The Canadian dollar is weakening to start the trading week, driven by multiple bearish forecasts that suggest the loonie will crumble to multi-year lows. The buckâs losses were capped by rallying energy prices as crude oil prices have surged more than 5% in the last week. On Monday, TD Bank published a report that projected the dollar may tumble 71 cents by the end of the year. This would represent a 5% decline in nine … “Canadian Dollar Weakens on Bearish Forecasts”
Euro Rallies to 2-Week Highs on Positive Sentiment, Later Drops
The euro today extended last week’s gains against the US dollar driven largely by positive investor sentiment given the lack of major releases from the European docket. The EUR/USD currency pair rallied to 2-week highs in the mid-European session before dropping lower as investors became wary of current geopolitical conditions. The EUR/USD currency pair today … “Euro Rallies to 2-Week Highs on Positive Sentiment, Later Drops”
Pound Ends Week Strongest, Future Uncertain
The Great Britain pound ended the past trading week as the strongest currency on the Forex market thanks to the Brexit developments. But with no trade deal in sight and uncertainty surrounding the outcome of the talks between the United Kingdom and the European Union, analysts are skeptical that the sterling will be able to keep the upside momentum for long. The UK Parliament yet again rejected the Brexit plans of Prime Minister Theresa May even after the EU … “Pound Ends Week Strongest, Future Uncertain”
Euro Drops on Mixed Euro Area Data, Rallies on Weak US Data
The euro today headed lower in the early European session following the release of mixed data from across the euro area before rallying higher later. The EUR/USD currency pair recovered in the early American session following the release of disappointing American industrial data. The EUR/USD currency pair today rallied from an intra-day low of 1.1299 to a high of 1.1344 in the American session, before retracing … “Euro Drops on Mixed Euro Area Data, Rallies on Weak US Data”
Chinese Yuan Rises Despite Weak Industrial Output
The Chinese yuan is making gains against its currency counterparts at the end of the trading week. Despite disappointing industrial output figures and reports of long delays for companies to get paid for their goods and services, the yuan will record a weekly gain against the US dollar and the euro. According to the National Bureau of Statistics of China, value-added industrial output climbed 5.3 % in the January to February period, compared to the same time a year ago. This … “Chinese Yuan Rises Despite Weak Industrial Output”
Elliott wave Analysis: EURUSD and USDCHF In Negative Correlation
Hello traders, and welcome to our intra-day updates. Let’s start the day with EURUSD. On EURUSD we are tracking a bigger three-wave recovery in play, which we labeled as wave a)/i), b)/2) and now c) or iii). That being said, at the moment we see price nicely unraveling a five-wave rally within wave c)/iii) with … “Elliott wave Analysis: EURUSD and USDCHF In Negative Correlation”
US Dollar Mixed on Tame Wholesale Inflation, Higher Mortgage Applications
The US dollar is mixed against a basket of currencies on Thursday, attempting to find direction on economic data. The greenback has been trading based on inflation numbers, mortgage loans, and weekly jobless claims, but data may not affect the buck until the US and China officially announce a new trade agreement. According to the Department of Labor, the producer price index (PPI) â a measurement of price changes prior to reaching the consumer â rose … “US Dollar Mixed on Tame Wholesale Inflation, Higher Mortgage Applications”