|Day's Range||1.171 - 1.175|
|52 Week Range||1.1315 - 1.2558|
The Euro rallied a bit during the Monday session, reaching towards 1.1725 level, before running into the heart of extreme volatility from a couple of weeks ago. Because of this, and the fact that we are starting to pull back a little bit, it looks as if we may continue to see choppy volatility.
Investing.com – The dollar was slightly lower against its rivals Monday, as in-line U.S. retail sales data, and slightly better than forecast regional manufacturing activity provided little impetus for upside in the greenback.
European stocks finished lower Monday, with mining shares pulling back as Chinese economic data highlighted concerns surrounding a global trade war. Bank stocks advanced however, as Deutsche Bank AG offered a brighter outlook for its upcoming earnings report.
The U.S. dollar has so far been spared from the negative impact of trade war worries that has weighed on currencies across the board. But that’s not because a trade war would be good for the U.S., but rather because it would be so much worse for its trading partners at first, analysts say.
U.S. retail sales posted a firm gain in June, helped by increases in purchases of motor vehicles and a range of other goods, solidifying expectations for robust economic growth in the second quarter. U.S. West Texas Intermediate crude oil futures plunged below $69, dropping a whopping 3 percent after Treasury Secretary Steven Mnuchin said some oil buyers could get waivers to continue buying Iranian supplies despite American sanctions on the Middle Eastern country.
Investing.com - The dollar slipped lower against a currency basket on Monday, having posted its largest weekly gain in a month last week as investors turned their attention to U.S. retail sales figures for June later in the session.
Investing.com - The dollar was holding steady not far from six-month highs against a basket of the other major currencies on Monday as trade concerns remained in focus following the release of soft Chinese growth data.
Based on the early trade, the direction of the EUR/USD the rest of the session is likely to be determined by trader reaction to the support cluster at 1.1679 to 1.1680. This is being formed by a combination of an uptrending Gann angle and a 50% level. The single-currency is following through to the upside, following Friday’s closing price reversal bottom and subsequent confirmation earlier today. This could trigger a minimum 2 to 3 day rally.
The market continued to move lower during the Wednesday’s session reaching down towards the 1.16 level but managed to bounce a little as it witnessed some buying interest around the area. If the market further breaks from here, the next major support will be at 1.15 level. There are a lot of political developments coming out of Europe and also the trade wars are building pressure on the market and hammering the Euro. A break above 1.17 level could bring some amount of stability to the market. …Read MoreGBP/USD
New Zealand will be releasing its quarterly CPI later tonight. Forecasts point to a 0.5% increase in inflation during the second quarter. The New Zealand Dollar gained 0.07% on Monday morning, trading at 0.6772.
The euro continues to trade in a range with the region around 1.16 providing some strong support over the last couple of weeks which has helped it to keep afloat
Softer economic growth in China weighed on risk appetite early in the day, with the U.S – Russia Summit, trade tariff chatter and U.S retail sales figures in focus through the day.
Based on last week’s close at 1.1687, the direction of the EUR/USD this week is likely to be determined by investor reaction to the pivot at 1.1680. The most important area to watch this week is the 50%/Gann angle combination at 1.1680 to 1.1675. Basically, look for an upside bias to develop on a sustained move over 1.1680 and for a downside bias to develop on a sustained move under 1.1675.
Investing.com - Investors will be looking ahead to Federal Reserve Chairman Jerome Powell’s testimony on the economy and monetary policy to a Senate committee on Tuesday.
The Euro fell a bit during the week, but still sees a significant amount of support underneath, especially near the 1.15 level underneath. I believe that the market will continue to look at that market as being very well supported, but it’s obvious that the difficulties continue.
The Euro fell initially during the day on Friday, reaching down to the 1.1600 level initially, but is looking like buyers are coming back into trying to lift this market at what I think is a reasonably strong demand level.
Investing.com – The dollar retreated from a two-week high against its rivals Friday, pressured by a rebound in the pound from an 11-day low.
European stocks end slightly higher on Friday, extending their weekly gains as concerns over a potential global trade war remained on the back burner and investors instead focused on a raft of prominent bank earnings out of the U.S.
The market further dipped lower during the Thursday’s session testing the 1.1650 level, an area which has been a support more than once. The reaction in the market is due to the details in the ECB meeting minutes. Going ahead, the market is likely to hold this level and will also attract buyers interest. If the market further breaks from here, then it will rapidly unwind towards the 1.16 level. …Read MoreGBP/USD
The pair has been lost for direction over the last 24 hours and it awaits the next piece of fundamentals to start pushing through the range
While risk appetite returns to the markets, the Dollar looks to have found its some upside in the early part of the day, though it could all change should sentiment towards trade tariffs take another turn.
The Euro fell towards the 1.1650 level during trading on Thursday, after initially having a relatively flat session. This may have been in reaction to the ECB meeting minutes, but at the end of the day it’s also likely that it had more to do with a simple pull back.
Investing.com – The dollar was roughly flat against its rivals Thursday, as U.S. economic data showed the pace of consumer prices was subdued last month, but downside was limited by a slump in the yen amid easing trade-war concerns.
Keith Bliss of DriveWealth LLC joins Yahoo Finance's Seana Smith from the floor of the New York Stock Exchange to discuss the latest market moves.