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The Euro remains in near-term range and trades in the range's lower part, after recovery attempts failed to complete Monday's gap and rally stalled at pivotal 1.3220 barrier, last week's low. Fresh weakness nearly fully reversed corrective rally off 1.3149, threatening break lower and extension of larger downtrend, as sentiment
GBPUSD GBP closed slightly higher on a rejection candle on Thursday leaving risk of a downside trend continuation on the cards. On the downside, support lies at the 1.6550 level where a break will aim at the 1.6500 levels. A break of here will turn attention to the 1.6450
The EURUSD is the world's most widely-traded currency pair so it's not surprising that this week's drop to an 11-month low has drawn all the headlines. However, to truly evaluate the single currency's strength, it's worthwhile to look at a variety of euro crosses beyond just the EURUSD pair.
EURUSD With a continuation of its previous week weakness seen the past week, further downside pressure is envisaged in the new week. Support lies at the 1.3100 level where a break will expose the 1.3050 level. Below here will pave the way for a move lower towards the 1.3000
USDCHF With USDCHF unable to follow through higher on the back of its previous week, it faces the risk of a pullback in the new week. On the upside, resistance resides at the 0.9200 level where a break will aim at the 0.9250 level. Further out, resistance resides at
The Australian dollar enjoyed a solid week last week moving up from below 0.9300 to a three week high around 0.9370 before easing a little lower to finish the week. For the best part of the last few weeks the Australian dollar has traded close and around the 0.93 level
The Australian 200 Index has spent the last week consolidating and trading in a very narrow range right around 5620 after enjoying a strong surge higher to a new six year high around 5650 a couple of weeks ago. In moving up to the multi-year high it enjoyed a solid
Euro keeps taking hits from various fronts like US data to the speculation that the QE from the ECB may come this week. The divergence between the US & Eurozone economies is getting more and more clearly reflected in the respective currencies.
The break of the resistance (red) has been short lived so far and wave 3 (blue) has not managed to pull away from wave 1 (blue), which means that a corrective count could still be likely.
The Greenback has seen significant inflows by speculative traders who have pushed the USD up to 12-month highs whilst Euro bears continue to increase their Net Short exposure. With several key FOMC members all talking this week it could be the ideal time to find out if the Hawkes are
Japan's consumer inflation was steady at 3.3% with a real 1.3% figure which is below the Bank of Japan and Prime Minister Shinzo Abe's target but overall positive given the two decades of Japanese deflation. The government faces a tough balancing act. How to spur inflation after two decades, while
Month-end portfolio demand, geopolitical and event risk are all taking a stab at making an impact on forex prices. So far, and not unfamiliar, investors continue to wade through the same contrived trading ranges, but this time the EUR bear must be feeling a tad stronger in their convictions. It was
Friday's data revealed that the Canadian economy accelerated at the fastest pace in nearly three-years in Q2. The usual culprits supported the annualized +3.1% gain between April and June: exports, consumer spending and business investments (an area that Canada is falling well behind in to its largest trading partner, the
This past weekend, the most influential central bankers from around the world gathered in Jackson Hole, Wyoming to compare business cards, challenge each other to Rubik's-Cube-solving contests and, occasionally, give speeches that impact the lives of billions of people and the future of global economies and markets. European Central Bank
Optimism over the U.S. economy is quite high at the moment, and it is warranted. The second estimate of real GDP showed that the economy grew 4.2% in the second quarter, above the previous estimate of 4%. The underlying details revealed stronger business fixed investment, with less inventory accumulation, suggesting
Despite some noisy numbers this week, the U.S. economy continues to strengthen. The biggest headline of the week came from the durable goods report, where orders jumped a massive 22.6 percent. July's gain the largest on record was exaggerated by a surge in aircraft orders for Boeing's 777
No more mucking around, no excuses for low volatility because everyone is on holidays and no ignoring the reality of a moribund Eurozone and a solidly recovering USA. At least that is what should happen and if it doesn't that becomes as powerful a message as if it does.
Japanese capital spending weakened during the second quarter of this year amid the recent instable economic performance and downward pressure after applying the sales-tax hike plan on 1 st April.
AUD: Building Approvals, Cash Rate, GDP q/q, Retail Sales, Trade Balance. CAD: Overnight Rate, Trade Balance, Employment, Ivey PMI. CNY: Manufacturing PMI, Services PMI, Non-Manufacturing PMI,. EUR: GER Factory Orders, Manufacturing and Services PMI, Bid Rate & ECB Press Conference
China's Manufacturing Purchasing Managers' Index slowed during the month of August to add threats to the nation's economic growth target this year. Meanwhile, the People's Bank of China may refer to add more stimulus packs to spur the world's second largest economy toward achieving the nation's 7.5% growth target this year.
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