GBP/USD was under pressure as Brexit negotiations remain stuck and worries about the economy persist. The upcoming week features low-tier indicators. Here are the key events and an updated technical analysis for GBP/USD. House prices are not going anywhere fast in Britain, but the greater worries come from politics. The EU is getting ready for Brexit [...]
EUR/USD managed to tick up amid OK data from Europe and weakness in the US dollar. GDP data and Draghi’s testimony stand out in a busier week. Here is an outlook for the highlights of this week and an updated technical analysis for EUR/USD. German GDP smashed expectations and rose by 0.8% q/q. This certainly provided support [...]
The US dollar is retreating and more so against the Japanese yen. This is an extension of the falls seen earlier in the week and they prove once again: what cannot go up must come down. The pair made a false break last week above the 114.50 level. We are now at 112.55 after hitting [...]
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The president of the ECB has increasing confidence that the economic expansion is solid. This sounds like an upgrade in comparison to previous statements, which acknowledged the progress but did not sound so optimistic. However, inflation hasn’t reached the point of being self-sustained. Draghi is basically keeping things balanced with the normal caution about inflation. However, [...]
The post Draghi hails the solid economic expansion – EUR/USD looks solid appeared first on Forex Crunch.
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The pound is not going anywhere fast amid OK economic data and Brexit worries. What’s next for the pound? The team at Nomura looks at the upcoming EU summit and the outlook for the pound also against the yen and the Swiss franc. Here is their view, courtesy of eFXnews: Nomura FX Strategy Research discusses [...]
The post GBP: Where To Position Ahead Of The Important EU Summit On Dec 14-15 – Nomura appeared first on Forex Crunch.
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Canada’s manufacturing sales rose by 0.5%, beating expectations. Foreign securities purchases also came out better than expected at 16.81 billion. USD/CAD is falling to 1.2748. This is also due to the series of disappointments in US data. Everything is pushing USD/CAD lower. Update: the ADP NFP came out and it shows a drop of 5.7K jobs [...]
The United Kingdom was expected to report a small rise of 0.1% in retail sales in October after a fall of 0.8% in September (before revisions). Year over year, a drop of 0.6% was expected after 2.3% beforehand. Excluding fuel, a fall of 0.4% was projected m/m and 0% y/y. Reports from the BRC, Visa, [...]
The Australian dollar lost some ground but did not lose the bottom as the RBA held its ground. What’s next? Here are two views, from BTMU and from UOB. Here is their view, courtesy of eFXnews: AUD/USD: RBA Likely To Hike In H2 2018; Scope For Further M-Term AUD Gains – BTMU BTMU FX Strategy […]
The Australian dollar lost its high range in late October and seems to have stabilized at a new range. Support is found at 0.7625 and resistance is at 0.7730. Any drop to the downside was followed by a rise to the upside in recent days. This is the case today as well. After falling to [...]
EUR/USD is getting used to a lower range. While the moves are limited, the limits of the range are well-defined. The pair trades between support at 1.1575 and resistance at 1.1620. This is the lower end of the recent trading ranges. Why is the pair trading at lower ground? Draghi’s dovish words from two weeks [...]
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The post EUR/USD looks depressed ahead of Draghi – another drag? appeared first on Forex news forex trade.