|Day's Range||1.3 - 1.3|
|52 Week Range||1.2481 - 1.4043|
The British pound fell during the week, crashing into the 1.30 level which of course has been supportive in the past. The market has been grinding back and forth, and at this point there are several levels we should be watching.
The British pound has bounced slightly during a very illiquid Friday session, as most people were away celebrating the holiday.
The U.S. dollar is holding near a two-week high on Friday, on what has been a quiet session for currencies with most other major U.S. and global exchanges closed for the observance of Good Friday.
Since November last year, the dollar has been experiencing difficulties with growth above 97.00 on USDX, both due to the general demand for risky assets in global markets and due to softening of the Fed’s position. EURUSD received a powerful blow on Thursday after disappointing data on business activity in the Eurozone, dropping to 1.1230. The technical analysis shows that EURUSD failed to consolidate above the important 50-day moving average, returning it to the downward channel.
From the Technical front, the pair seems to experience a slight upward shift in the near term. However, it may bounce back from 1.3022 support trend line to sustain downtrend.
With the major financial markets closed for the day, volumes will be on the lighter side. U.S housing data will be the only numbers for the Dollar to respond to.
The AUD/USD enjoyed a 0.39 percent boost in the Asian session following strong employment data. The Cable underwent extended slump even in the absence of Brexit headlines.
The British pound continues to drift a bit lower during the trading session on Thursday as the 1.30 level of course attracts a lot of attention. Overall, the market looks very likely to test major levels of the next few days.
Investing.com - The U.S dollar jumped against its rivals on Thursday as mostly upbeat economic data pointed to strength in the underlying economy.
European stocks were down on Thursday ahead of the Easter break, as yet more indicators pointed to malaise in the region’s economy. In the U.K., the FTSE 100 (UK:UKX) lost 0.2% to 7457.02 after finishing flat the previous day, while Germany’s DAX fell by 0.3% to 12,122.03 and France dipped 0.4% to 5,542.17. Italy’s FTSE MIB (IT:I945) was the biggest loser among regional indices on Thursday, swooning 0.6% to 21,873.95.
The pair remained silent in the last couple of sessions amid lack of Brexit headlines. The Fundamentals may try to push down the GBP/USD but, the Technicals seem to come for rescue.
Investing.com -- The euro is trading sideways against the dollar early Thursday in Europe, awaiting what are likely to be market-moving business surveys from around the region.
Investing.com - The Australian dollar rose on Thursday in Asia on stronger-than-expected jobs data for March. The euro also inched up ahead of the release of euro zone PMI data later in the day.
The loonie touched the month low near 1.3272 levels amid influential Canadian CPI figures. GBP/USD doused in plunge as events came out below-expectation. This time, the EIA reported a negative US Crude Inventory data.
British pound traders were a bit bored during trading on Wednesday, as the market simply isn’t going anywhere. When you look at the longer-term charts though, you can see that we are in consolidation but drifting lower.
Investing.com - The U.S. dollar was flat against its rivals Wednesday. The Fed's Beige Book noted moderate wage growth, but that drew a muted reaction from the greenback.
London markets were marginally lower as mining giant BHP Group PLC followed rivals in cutting iron ore production guidance. How did markets perform? The U.K.’s FTSE 100 (UK:UKX) fell 0.1% to 7,459.1. It had risen 0.
On the broader chart, the cable appeared to rebound from the lowest vicinity near 1.3036 levels. Brexit cross-party talks get underway slow progress.
The Dollar’s on the back foot following stats out of China this morning. It may not last though if there’s a resolution to the trade war…
China data was skewed to the positive. Whilst failing to spur the equity markets, the EUR and the Aussie Dollar benefited.
Investing.com -- The dollar was broadly lower in early trading in Europe on Wednesday after China’s slightly faster-than-expected economic growth in the first quarter encouraged a new leg up in commodity currencies.
Investing.com - The Australian dollar gained on Wednesday in Asia after China, its biggest trading partner, reported strong GDP data.