|Day's Range||1.293 - 1.294|
|52 Week Range||1.2481 - 1.3996|
The U.S. dollar on Tuesday gains ground against most of its major trading partners, hitting an intraday 22-month high.
Along with the greenback upliftment, the primary rival (EUR/USD) which always benefits from a dollar plunge, dropped significantly. Crude WTI Futures traded at a new high near $66.60 per barrel elevating the commodity-linked CAD. USD/JPY lost 30 pips in a matter of a few minutes.
Who’s winning the U.S – China trade war? Is it really the U.S? How has the Pound and the UK economy performed and what about the Eurozone?
The British pound went back and forth during the trading session on Tuesday as traders came back to work from the Easter holiday. We sliced through the 1.2950 level, which is an area of major support and it now looks as if we are ready to drift lower.
Investing.com - The dollar rose against a basket of major currencies Tuesday as new home sales surged to a 17-month high, suggesting resilience in the U.S. housing market after disappointing existing home sales numbers.
U.K. stock indexes head solidly higher Tuesday, in post-Easter action, as investors in the commodity-heavy index get the first chance to react to a surge in crude-oil prices.
After the prolonged Easter Recess, the MPs have resumed office today. And during this holiday time, the pair remained subdued near 1.1300 levels amid lack of events and Brexit updates. While, on the technical side, things remain uncertain. Hence, pair’s upcoming movements will weigh more on the fundamental side of the pound.
Dollar Index is close to the upper limit of its 6-months trading range. GBPUSD remains trapped between MA200 and 1.30. Oil has jumped at the start of the week by 3%: WTI – $66, Brent – $73.70.
It’s a mixed start to the day for the majors. While the Pound managed to hold steady, things could change later today as MPs return from recess.
The Market remained silent in the middle of insufficient economic data on Easter Monday. The Cable was down, still sustained near 1.1300 levels. Oil price upsurged on the news suggesting Iranian sanction waiver rejection, making the loonie pair tumble further.
The British pound was a rather quiet to kick off the week on Monday, as we continue to hover above major support. There are a multitude of potential moves waiting to happen, but the most interesting one is to the downside.
During the weekend, lots of rumors and negative talks took hold of the Brexit drama. The EU Elections are nearing, and the UK opposition party leaders look for a Second Referrundum as an election strategy. GBP/USD, at the moment, stays fragile.
Investing.com - This week investors will be looking ahead to Friday’s data on U.S. first quarter growth, which is expected to show that the economy is stabilizing after a recent soft patch.
A quiet start to the week will leave the focus on earnings. What little data that is due out could have a material influence, however.
The Greenback found support in a week where the Aussie and Kiwi Dollar hit red and economic data out of the Eurozone and China diverged.
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.
The Dollar index has risen to a 5-month highs after disappointing EU PMI reports. GBPUSD just fell below 1.30 and now is trying to stay above its MA(200). EURUSD is eyeing key support at 1.1200. AUDUSD failed with growth.
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.