Business morale in Germany, France and Italy -- the euro zone's three biggest economies -- deteriorated in April as a stronger currency and capacity constraints limited output, signalling that growth in the currency bloc has reached its peak. The euro zone was unexpectedly one of the best performers among major economies last year. German business confidence fell for a fifth consecutive month in April to reach the lowest level in more than a year, the Ifo institute said on Tuesday, suggesting that Europe's biggest economy is losing some steam.
Investing.com - The dollar was holding steady near seven week highs against a basket of the other major currencies on Tuesday, boosted by rising Treasury yields.
French industrial morale dipped in April, reflecting concerns elsewhere in the euro zone that growth in the bloc is weakening as the impact of a stronger currency starts to bite. "There's definitely a slowdown, and the euro is not helping. The European Central Bank is stuck in a corner.
U.S. dollar bulls feel vindicated by the recent jump in the greenback, but currency positioning data from last week, which showed growing bearish dollar bets, perhaps, raising concerns for some about the ...
Investing.com – Cryptocurrency prices gained on Thursday. Reports that Malta was supportive of the digital coins gained attention. Meanwhile, India is uncertain whether the country will ban cryptocurrencies.
Investing.com - The dollar continued to rally on Tuesday morning in Asia along with the higher yields on U.S. Treasuries that hit a four-year high, and the rally in the dollar weighed down the yen. Meanwhile, eyes were on the Aussie in the morning as Australia released some lacklustre CPI data.
Although the solid uptrend is guiding prices higher, buyers may take a breather as we approach Friday’s release of the U.S. GDP. Traders are looking for 2.0% growth. A higher than expected number will justify this week’s rise in U.S. interest rates. A lower than expected number should drive rates back down which should weaken the USD/JPY.
The stable outlook for the Reserve Bank of Australia (RBA) and the Reserve Bank of New Zealand (RBNZ) contrasts with the U.S. Federal Reserve which is expected to raise rates at least two more times this year.
Gold markets fell significantly during the open on Monday, as we gapped lower, and then broke down towards the $1325 level. Although this looks very negative, there is a significant amount of support underneath that should come into play rather soon.
The US dollar has rallied significantly during the trading session on Monday, gapping at the open, and then exploded above the 108 handle. I believe that the market should continue to find buyers on short-term pullbacks now that we have broken above the important 108 level, and we will more than likely continue building the base that we have been fighting for.
The US dollar has rallied significantly against the Canadian dollar during trading on Monday, as oil markets took a bit of a bashing during the session as well. By clearing the recent resistance level, this is of course a bullish sign.
The New Zealand dollar has broken below the 0.72 level during the trading session on Monday, reaching down towards the 0.7175 level. I believe at this point the market should continue to find buyers underneath, but I think that breaking below the 0.72 level dollars for tell a potential buying opportunity underneath.
The British pound broke below the 1.40 level during the trading session on Monday and continue to drop from there. The US dollar has shown strength over all, and I think that breaking below the 1.40 level could show that this pair needs to see a bit of support or a bounce underneath.
The British pound initially pulled back during the trading session on Monday, testing the 151 handle. However, we found enough support to turn things around as we continue to find buyers on value, and it looks like we are trying to form some type of base.
The Euro fell significantly against the greenback on Monday, as the US dollar was one of the strongest currencies that I follow here at FX Empire. The 1.22 level is just below and an area that should offer a bit of support, but if we get a bounce, the market could continue to go back and forth as we have for weeks. I believe that eventually we will see this.
The EUR/GBP pair has gone back and forth during the trading session on Monday, essentially doing nothing as we continue to bounce around the 0.8750 level. This is a market that is of course going to move a lot on headlines, so volatility could return rather quickly.
The Australian dollar has broken down significantly during the Monday session, slicing through the trendline as I record this. However, I would need to see this market break down below the 0.76 level to continue to go lower. I think that we are making a serious attempt to break things down, and if that’s the case I think that we could be seeing a major inflection point in this market.
Based on Monday’s close at 1.2207, the direction of the EUR/USD on Tuesday is likely to be determined by trader reaction to the major 50% level at 1.2166.
Fear of accelerating inflation, rising commodity prices and worries about the growing supply of government debt helped drive the 10-year yield to 2.998 on Monday.
It’s been risk on this morning, with the markets accepting rising Treasury yields, as economic data at the start of the week suggest that a soft patch in the 1st quarter may have come to an end.
Based on last week’s close at .7669, and the price action the previous three weeks, the direction of the AUD/USD this week is likely to be determined by trader reaction to the short-term Fibonacci level at .7743.