Cable up 53 pips Cable has wiped out the drop from yesterday that came on a report that German officials had brushed aside Theresa May’s latest Brexit plan. The climb was helped by today’s UK data showing unit labor costs jumping to 3.1% y/y from 2.1% and broad dollar weakness after non-farm payrolls. There’s a
USD/CAD swings lower again What a mess on the USD/CAD intraday chart. The dual jobs and trade balance reports from Canada and the US has been too much for the market to digest at once. Without dissecting the details, I think the Canadian report is better than it first seemed and oil has had a
Can the buyers squeeze higher or does overhead resistance stall The GBPUSD has squeezed higher and moved away from a swing area that held support at the close yesterday and in the Asian Pacific session (see yellow area). That area comes in at 1.3203-16. The low today dipped to 1.3202 but not for long. The
And rightfully so, S&P 500 futures turn negative ForexLive China’s response that they had in fact implemented retaliatory tariff measures on US goods is starting to weigh in on equities now. European indices are mostly flat right now – a little positive – but we’re seeing yen pairs fall as US equity futures slip into
This via SG on the DXY After failure to give a definite break beyond last October peak, the Dollar Index has started staging a pullback. It has formed two consecutive weekly shooting stars near 95.52/95.75 which suggests upside momentum is lacking. The index has formed a double top at those levels and is now breaching
Back below 200 hour MA but above trend line break The NZDUSD based against the 100 hour MA for the 2nd day in a row in the Asian Pacific session (blue line in the chart below) and that led to buyers taking the price higher. More favorable stock markets in Europe and the US (so
EUR/JPY upside stalls at 129.50 for the third time during the last week A push higher in the pair would appear to need EUR/USD also pushing above the 1.1720 resistance level highlighted here. But either way, for EUR/JPY this needs to be a level that buyers need to break above in order to extend a
GBP/USD rises to a high of 1.3207 after the UK services and composite PMI beats The data release was a solid one as the services print comes in at the highest since October last year. If anything, it doesn’t take away from the fact that the BOE could still possibly raise rates later this year.
The greenback bounces higher on the day I’m not seeing or hearing of any reason for the jump here apart from possibly thin trading, but the move could be sparked by some technical levels too. The dollar index tested just under the 94.50 and ran into support from the 22 June low and bounced thereafter.
Comments by Riksbank deputy governor Cecilia Skingsley Forecast is rate will be raised at the end of the year Want to be sure that “we’re on firm ground” before raising rates Main forecast is for no more bond purchases Can raise repo rate even if growth slows Following the dissent by Floden yesterday, the SEK
100 and 200 hour MAs tested. Price low today stalls nears key swing area The EURUSD is back up trading around the 100 and 200 hour MAs in the 1.16165-1.1625 area. Earlier today in the NY session, the price cracked below those level and ran to the next target area in the 1.1994-99 area. The
Trades at the lowest level since May 31, 2016 The NZDUSD has moved below a lower trend line at 0.6717. Last week, that trend line was test twice and found buyers. Today – at yet anther lower level – the price has cracked and shown more momentum. Bears are taking more control. Risk for shorts