|Day's Range||1.3 - 1.308|
|52 Week Range||1.2777 - 1.4377|
The U.S. dollar fell on Friday after U.S. President Donald Trump criticized the Federal Reserve for increasing interest rates but was still on target for a second week of gains. The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was down 0.15% to 94.84 as of 5:36 AM ET (9:36 GMT). Despite the dip, the dollar was on target for a second straight week of gains and has risen more than 5% in the last three months due to expectations that interest rates will rise.
U.K. blue-chip stocks edged up Friday, aided by this week’s fall in the pound to 10-month lows against the U.S. dollar, keeping the market on course for a fourth straight win and on track for weekly advance.
The effect of the uncertainty in the Brexit process is beginning to show up on the pound which is under pressure from the dollar
The British pound broke down during the day on Thursday, slicing through the vital 1.30 level. This is an area that I have been paying attention to for some time now, and the fact that we broke through there is a very negative sign indeed. I believe that the market continues to see a lot of noise in the United Kingdom, and that of course is going to affect this pair.
While the Loonie is on for a move later today, with inflation and retail sales figures expected to support a more hawkish BoC, trade war jitters will continue to grab the headlines, with stats elsewhere on the lighter side through the day.
Investing.com – The dollar reversed course against its rivals Thursday after U.S. President Trump said he was "not happy" about Federal Reserve rate hikes but downside was limited amid optimism over the U.S. economy.
The U.S. dollar moved broadly higher Thursday, both against its developed and emerging rivals, while China’s yuan dropped to a low not seen since last July.
European stock markets finish lower Thursday, pulling back from a one-month high as mining stocks track a selloff in the metal prices, and the latest round of earnings reports rolled out.
U.K. stocks ended higher on Thursday and the pound tumbled after disappointing British retail sales stoked speculation the Bank of England may refrain from hiking interest rates in August.
While it’s always nice to think about the upside potential of the stock market, it’s equally important to think about the downside risk. Is it possible that investors have been so mesmerized by the quest for $1 trillion in market valuation by Amazon, Apple or Microsoft that investors have forgotten about downside exposure? We could soon find out.
Investing.com - The dollar hit one-year highs against a currency basket on Thursday, sending the euro below the $1.16 level after bullish comments be Federal Reserve Chairman Jerome Powell cemented expectations for two more rate hikes this year.
Investing.com - The pound dropped below the $1.30 level on Thursday as a result of an unexpected drop in consumer spending in June, further slimming the chances of a Bank of England rate hike in August.
Investing.com - The dollar rose against a currency basket on Thursday, to trade near one-year highs after hawkish comments by the chairman of the U.S. Federal Reserve underlined expectations for two additional rate hikes by the central bank this year.
The UK’s retail sales figures dropped unexpectedly in June. Sales declined by 0.5% in June compared to a growth of 1.4% in May. YoY Retail sales grew by 2.9, below analysts expectation of 3.7%. Pound hits a 10-month low near 1.30 versus the US dollar.
With general risk-off attitude, the market is testing the key support level and if it breaks further, then next immediate support in the market will be at 1.1580 level. In the longer term chart, this level has been an important support level and has been tested well in the past.
The pair has broken through the lows of the range and now threatens the important 1.30 region
Employment numbers give the Aussie Dollar a boost as focus shifts to today’s stats out of the UK. Another set of weak numbers and the Pound could be looking at sub-$1.30 levels, progress on Brexit doing few favors.
Investing.com – The dollar was unchanged against its rivals Wednesday as gains on the back of a slump in the pound were offset by soft U.S. economic data showing subdued housing market activity.
A popular U.S. dollar index extends its gains on Wednesday, reflecting a broad advance in the buck against its major rivals.
The pan-European equity index finish at the highest level in more than a month Wednesday, extending gains in the region to a second session amid a weakening euro and a round of well-received corporate results that fostered buying appetite.
Look at the price action in the Treasury markets for the true assessment of the economy rather than to try to make a financial decision based on politics or what Trump said or did like others. Frankly, I don’t know how anyone can make a trading decision based on the emotions of the President. Some analysts continue to try to make everything the President says or does a trading issue, but I’ve never seen it baked into a trading system.
Investing.com - The pound fell to the lowest levels in 10 months against the broadly stronger dollar on Wednesday, as unexpectedly weak UK inflation data diminished chances for an August rate hike by the Bank of England.
Powell’s speech with the semiannual report in the U.S. Congress contained an optimistic view on the economic outlook. Such a tone has reduced fears that trade wars will negatively affect economic valuations.
U.K. stocks rose for a second straight day on Wednesday, boosted by a slide in the pound after a disappointing reading on British inflation raised doubts about an August rate rise.
Investing.com - The broadly stronger dollar hit six month highs against the yen on Wednesday as optimistic comments from the head of the U.S. Federal Reserve reinforced expectations that the central bank is on track to keep gradually raising interest rates.