|Day's Range||1.121 - 1.121|
|52 Week Range||1.1110 - 1.1815|
Today’s positive US data seemed to mitigate the speculations over a probable Fed rate cut. Fiber dropped 0.66% reaching near 1.1214 levels amid Greenback upsurge and weak German & Italian data.
The Euro initially shot higher during trading on Friday, but then pulled back a bit to show signs of weakness again. Ultimately, we are testing a major support level underneath so it’s likely that we continue to see volatility.
EUR/USD seems to have fallen into a range below 1.1280 ahead of US retail sales which are scheduled for release today. I expect some volatility from the release, but I think the markets will be more focused on the Fed who are scheduled to meet next week.
US market received an unexpected bounce from surging oil prices as energy stocks topped the list of winners. But investor sentiment remains supported by the one constant that keeps the S&P 500 ticking, the allure of the Federal Reserve easy money policy.
It’s a litmus test for the U.S economy today. Retail sales and consumer sentiment figures will give the FED an idea of how consumers really feel.
Investing.com -- The dollar was lower against the yen and euro early Friday in Europe but higher against risk proxies such as the Aussie dollar as traders shunned risk ahead of a weekend set to be marked by geopolitical tensions.
It looks like the calm in the currencies is drawing to a close and volatility is about to pick up. So far, so good. We’re at a crossroads these days: after a recent string of declines, the USD appears to be catching a bid. This is not without repercussions and a move either way will be profoundly felt across the markets. But which way that move will be? Read on to find out – and also get positioned accordingly.
The next FOMC meeting will take place on June 19, and on June 13 the interest rates markets were pricing in a rate cut of 25 bps by 24.2%, while the likelihood of the Fed leaving rates unchanged in the 225-250 interval was at 75.8%.
Based on the early price action, the direction of the EUR/USD on Thursday is likely to be determined by trader reaction to the downtrending Gann angle at 1.1297. We’re still waiting for a confirmation of the closing price reversal top. Volatility is likely to pick up once 1.1283 is taken out and the chart pattern is confirmed.
Before he turned 19, bitcoin bets made Erik Finman a millionaire. Now, the crypto wunderkind says he wants to create a platform for investing in cryptocurrencies that is easy for average folks to use.
The U.S. dollar was slightly higher on Thursday as traders increased expectations that the Federal Reserve will cut interest rates in the coming months. Consumer inflation data on Wednesday helped support the case for a cut, as it slipped from the Fed's 2% target. Traders have been speculating on the possibility of the central bank changing its course on monetary policy due to slowing inflation and rising trade tensions.
The Greenback is on the back foot early as the Asian markets respond to softer inflation out of the U.S. Australian employment figures failed to impress this morning.
When it comes to the U.S.-China trade fight, bond traders are too pessimistic, stock traders are too optimistic, and currency traders are too complacent, say analysts at Bank of America Merrill Lynch.
ECB President Mario Draghi commented today that the Central and Eastern Europe remains vulnerable to the trade war headwinds. Weak EIA Crude data resulted in a decline of Oil prices.
The Euro rallied a bit during early trading on Wednesday but continues to find a lot of trouble in the neighborhood of 1.1350. As long as that’s the case, it’s very likely that we will get some type of pullback.
Based on the early price action, the direction of the EUR/USD the rest of the session is likely to be determined by trader reaction to the Fib level at 1.1318.
The U.S. dollar pared back earlier gains after tame inflation data supported the case for the Federal Reserve to cut interest rates. The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was up 0.05% to 96.690 by 10:15 AM ET (14:15 GMT), after reaching an earlier high of 96.757. Consumer inflation edged up 0.1% in May and was up 1.8% on the year, slipping from the Federal Reserve's 2% target.
President Donald Trump is again calling for a weaker dollar. That desire may now be lining up with market fundamentals. That means future tweets and other comments could pack more punch than in the past, says a prominent currency watcher.
Investing.com - The U.S. dollar was trading near two-month lows against a currency basket on Wednesday, as expectations that the Federal Reserve could cut interest rates in the coming months in response to fallout from global trade tensions pressured the currency.
President Donald Trump unloaded on Joe Biden as both were visiting Iowa on Tuesday, offering a preview of general-election arguments he’ll make if the former vice president secures his party’s presidential nomination.
The GBP/USD pair stood higher after the release of positive UK Average Earnings data. Overnight New Zealand Q1 Manufacturing Sales data impacted the NZD/USD movements in the initial hours.
Gold stumbled to a fresh one-week low on Tuesday as cautious optimism over global trade developments boosted risk sentiment and dampened appetite for safe-haven assets.
Based on the early price action, the direction of the EUR/USD the rest of the session is likely to be determined by trader reaction to the Fibonacci level at 1.1318.
The U.S. dollar was flat on Tuesday, after the Federal Reserve came in for another barrage of criticism from President Donald Trump for allegedly keeping interest rates too high. In contrast to the Fed, the European Central Bank has been explicit about being ready to cut interest rates and, if need be, resume its bond-buying program to support the economy. The messsage articulated last week by President Mario Draghi was repeated Tuesday by both Bank of Finland Governor Olli Rehn and his Slovak counterpart Peter Kazimir.