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Markets are back in risk-off mode as down dropped more than -1100 pts overnight. Dollar and Yen tried to rebound but there was no follow through buying. Indeed, both remain the worst performing ones for the week. Instead, safe-haven flow seems to be benefiting Swiss Franc more this time. Franc is also helped by buying… […]
The Euro started a fresh increase from the 1.0420 support zone against the US Dollar. The EUR / USD pair surpassed the 1.0500 level to move into a positive zone. The price even traded above the 1.0550 level and the 50 hourly simple moving average. It traded as high as 1.0606 and is currently correcting […]
GBP / USD look headed for its first weekly gain in four weeks moving into late Thursday trading. At the time of writing, the pair was trading up by 2.03% at 1.25089, supported by a broadly weaker US dollar. But a stronger pound this week did not relate to any major positive news about the […]
Risk aversion is once again a clear main theme of the day, with European indexes in deep red while US futures point to extended selloff. Safe-haven flows are also pushing benchmark global yields lower, with Germany 10-year yield back at 0.9% while US 10-year yield is back below 2.8%. Swiss Franc is the overwhelming winner… […]
The forex markets are engaging in sideway trading in very tight range in Asian session. Dollar and Yen remain the weaker ones for the week. But so far, there is not following selling to push them through near term support level yet. Overall risk sentiment is crucial in determining the next move. While US stocks… […]
AUDUSD could not find enough buyers to overcome the 0.7050 resistance level, with the spotlight remaining to the downside as the steep negative bias is still holding. Encouragingly, however, the RSI and the MACD continue to hold above their recent lows, while the latter has also managed to crawl back above its red signal line,… […]
Pound slides after CPI report The British pound has taken a tumble after April CPI jumped to 9.0% YoY, up sharply from 7.0% in March. GBP / USD has fallen 100 points today and is trading at 1.2390 in North American trade. UK inflation continues to run at a 40- year high, and the cost […]
Dollar and Yen are recovering mildly today but overall major pairs and crosses are stuck in very tight range. European majors are the weaker ones, with Sterling having a lower handle. Commodity currencies are mixed. Trading is also quiet in other markets with Gold continuing to hover slightly above 1800 handle. WTI crude oil is… […]
Yen and Dollar falls broadly today as risk-on sentiment is gaining steam. European majors are making a strong come back too. Sterling is boosted by upbeat job market data. Euro is also lifted after an ECB policymaker threw out the idea of a 50bps rate hike. Commodity currencies are mixed for the moment, slightly on… […]
Weekly Economic & Financial Commentary: April Economic Data Show Resilient US Economy:
Summary United States: April Economic Data Show Resilient US Economy US retail sales topped expectations in April, while industrial production also grew more rapidly than economists expected. Data on housing starts, home sales and homebuilder sentiment, however, showed tentative signs of cooling. Next week: New Home Sales (Tue), Durable Goods (Wed), Personal Income & Spending… […]