|Day's Range||111.33 - 111.696|
|52 Week Range||104.6670 - 114.5110|
Investing.com - The U.S. dollar edged up on Wednesday in Asia as Sino-U.S. trade optimism faded following reports that U.S. officials are concerned Beijing might refuse to accept U.S. demands in trade talks.
Sterling recovers while Euro touches two-week high amidst uncertain Brexit. Major Currencies benefitted from the Greenback slump. Oil prices jump underpinned by latest OPEC news.
The US dollar pulled back a bit during the trading session on Tuesday, as we continue to find support underneath. With that being the case, we’ll take a look at what it takes to break out.
The British pound went back and forth during early trading on Tuesday as we continue to press against major resistance above. The ¥150 level above is the big resistance barrier that we are trying to break through right now, so obviously we have a lot of work to do.
Investing.com – The U.S dollar drifted lower as the Federal Reserve kicked off its two-day meeting Tuesday, with many expecting the central bank to deliver a dovish outlook on monetary policy when the meeting ends on Wednesday.
The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, lost 0.1% to 95.895 as of 10:38 AM ET (14:38 GMT). The Fed is expected to keep rates unchanged at its latest policy meeting announcement on Wednesday, but the main driver will be its updated economic growth forecasts, known as the dot-plot. The U.S. Census Bureau said factory orders increased by a seasonally adjusted 0.1% in January, as American manufacturing has expanded despite worries of a global economic slowdown.
The market turned bullish during Monday’s session, as it went past the highs of the previous session and has also broken above the 50 Day EMA slope. The British Pound fell a bit during yesterday’s session, reaching down towards the 1.32 level. The AUD turned around during yesterday’s session, as it wiped out all the gains it had on Friday’s session.
The RBA meeting minutes pinned back the Aussie Dollar early on, in spite of U.S Dollar weakness. Focus remains on Brexit and “the deal.”
Investing.com -- The British pound is opening Tuesday on a firmer footing after losing nearly 1% against the dollar and euro on the latest outbreak of Brexit-related volatility.
Dubiousness Arise Over May’s winning in the third Meaningful vote; USDJPY settles neutral; Commodity-linked-CAD surge later the day
The US dollar did very little during the Monday session against the Japanese yen as we continue to see the immediate area because a lot of resistance. This is more of a “zone”, and therefore there are a lot of conflicting orders.
The British pound fell during trading on Monday originally, but did find buyers underneath as we turned around to form a bit of a hammer like candle mid-day. This suggests that perhaps traders are willing to come back in and pick this market up.
Investing.com - The U.S dollar was flat against its rivals Monday as a wobble in sterling helped offset losses and data showing the U.S. housing market continued to stutter.
The only certainty at this month’s Fed meeting is the central bank is not expected to raise interest rates. Currently, its benchmark rate stands at 2.25 to 2.50 percent. Furthermore, the Fed is expected to stick with its mantra of “patience” on monetary policy.
The Euro initially rallied during Friday’s session but witnessed strong resistance at the 1.3333 level and pulled back a bit. As ECB not considering on any rate hikes for at least a year or even longer, the pair will continue to experience pressure on every rally. Given this case, the market will continue to consolidate and if the pair get a massive break down, then 1.12 level underneath will offer strong support. …Read MoreGBP/USD
It’s risk-on through the early part of the day, which sees the Dollar on the defensive once more, A light economic calendar put the FOMC in focus.
Investing.com - The U.S. dollar continued to slide on Monday in Asia following the release of Friday's weaker-than-forecast U.S. economic data.
Based on the price action the last two weeks, the direction of the USD/JPY this week is likely to be determined by trader reaction to a downtrending Gann angle at 111.960 and an uptrending Gann angle at 110.680.
Given the recent slew of weak economic data, look for the Fed to leave its benchmark interest rate unchanged. Also look for policymakers to maintain their “patient” approach. Since these conclusions are widely expected, they should have little influence on Treasury yields and thus the Dollar/Yen.
Investing.com - As investors continue to wait for a breakthrough in U.S.- China trade talks they will get an update on Federal Reserve rate hike projections this week and the central bank could also announce plans to end the wind-down of its balance sheet.
The U.S. dollar weakens slightly across the board in Friday trading, reversing Thursday’s move higher that had snapped a four-day losing streak and heading for a loss on the week.
The US dollar rallied during the week but as you can see has pulled back from the crucial ¥112 level yet again. This is an area that has been a bit of a brick wall as of late, and although we are going to finish the week with a bullish candle, the reality is that the resistance is still very stringent.
The British pound rallied a bit during the trading week against the Japanese yen, using the ¥145 region as support and wiping out all of the losses from the previous week.
The US dollar went back and forth during the trading session on Friday, as we continue to grind around in a very tight consolidation area. This is a market that will continue to be very noisy overall, as I see a lot of order flow in this region.