|Day's Range||1.251 - 1.254|
|52 Week Range||1.2481 - 1.3360|
Based on the current price at 97.020, the direction of the September U.S. Dollar Index into the close is likely to be determined by trader reaction to the Fibonacci level at 97.020.
The British pound rallied slightly during the trading session on Monday, as we continue to see a bit of noise around the 1.26 handle. Beyond that, there is plenty of support underneath, so it looks as if we are trying to find the floor here.
LONDON MARKETS European markets were unusually calm Monday as investors contemplated whether central banks would save them from the impacts of the continuing U.S.-China trade battle. How did markets perform? The Stoxx 600 (XX:SXXP) was flat at 378.
The U.S. dollar fell on Monday after manufacturing activity in the New York area fell to a two-and-a-half year low in June, while other currencies remained quite ahead of a flurry of central bank meetings. The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was down 0.1% to 96.935 by 11:25 AM ET (15:25 GMT). Data on Monday showed that manufacturing activity in the New York region posted a record drop in June, as economic activity in the area contracts.
EUROPE MARKETS European markets were unusually calm Monday as investors contemplated whether central banks would save them from the impacts of the continuing U.S.-China trade battle. How did markets perform? The Stoxx 600 (XX:SXXP) was flat at 378.
The British pound pulled back a bit during the trading session on Friday before bouncing slightly. At this point, it looks as if the market is trying to form some type of base, so approaching the market as such could be beneficial.
London markets fell into negative territory as China industrial production figures disappointed, fueling fears of a global economic slowdown
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.
Oil prices rose around 3.8% in the early hours as two Saudi Oilers got attacked in the Gulf of Oman. Cable down as Brexit Hardliner Boris won the first ballot. Weak Jobless Claims strengthened rate cut hopes.
London markets were led by major oil companies as benchmarks jumped on news of an incident involving two oil tankers near the Strait of Hormuz. The pound (GBPUSD) ticked down 0.1% to $1.2674. Analysis in the FT suggested traders appear to be shrugging off potential stimulus by the European Central Bank, as neither the euro nor bond yields reacted as expected to last week’s dovish talk at the ECB meeting.
Europe markets were lifted by rising oil prices sparked by news of an incident involving two oil tankers near the Strait of Hormuz. The U.K.’s FTSE 100 (UK:UKX) also edged up 0.2%, following Wednesday’s 0.4% decline.
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.
The British pound rallied a bit during the trading session early on Wednesday but ran into a significant amount of resistance in the form of the 1.2750 level. That’s an area that has been resistive more than once so don’t be surprised at all to see a pullback.
London’s main stock benchmark head lower Wednesday as renewed doubts over a U.S.-Sino trade deal and slumping crude-oil prices undercut global risk appetite.
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.
GBP/USD has carved out a bottom in the early week and is rallying towards an important resistance level. US inflation data released later today can potentially offer a catalyst for a break higher.
Boris Johnson continues to be favorite, while Michael Gove will need to get lucky to make it into next week… The 1st ballot is tomorrow.
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.
EUROPE MARKETS European markets rode a wave of optimism as China appeared to authorize measures to stimulate local economies. How did markets perform? The Stoxx 600 (XX:SXXP) climbed 0.9% to 381.5. On Monday, it edged up 0.