|Day's Range||108.43 - 108.84|
|52 Week Range||104.8710 - 114.0150|
Chatter on trade remains the key driver, with negative updates from Beijing weighing on risk appetite early. The RBA added further pressure on the Aussie.
The US dollar initially tried to rally during the trading session on Monday to kick off the week but have turned around as the conversation between the Americans and the Chinese are seemingly changing every moment.
The British pound rallied initially during the trading session on Monday, reaching towards the crucial ¥141.50 level. However, we have been turned around completely as what was once optimism about the conversation of the weekend involving the United States and China has been overshadowed by pessimism.
Investing.com - The U.S. dollar fell on Monday after CNBC reported that Chinese officials are pessimistic that a trade deal will be signed.
Based on the early price action and the current price at 108.815, the direction of the USD/JPY is likely to be determined by trader reaction to the minor pivot at 108.866.
Investing.com - The Chinese yuan inched up on Monday in Asia after the country's central bank cuts a key liquidity rate for the first time since 2015.
The Pound makes an early move, supported by the latest opinion polls. The ECB Financial Stability Review and Trade will also influence.
Hopes that the United States and China may soon end their trade war after a pair of high-ranking White House officials drove down demand for the safe-haven Japanese Yen on Friday. This move could continue this week if the optimism prevails.
Mixed comments about the status of trade talks between the United States and China encouraged some investors to seek shelter in the safe-haven Japanese Yen. The Australian Dollar closed lower last week after the country’s employment report for the month of October created a surprise disappointment among investors. The New Zealand Dollar finished the week sharply higher after wholesale interest rates spiked after the Reserve Bank left its official cash rate (OCR) unchanged at 1 percent.
USD/JPY has been steadily decreasing in recent days, as the bulls had trouble overcoming the orange resistance zone. The pair has ended its losing streak with today’s rise, however. Does it mark the end of its decline, or is there more to come?
The US dollar fell during a large part of the week, but then turned around to show signs of life towards the end as we continue to press up against a major resistance barrier.
The British pound has remained rather resilient during the week, as we continue to hang around the ¥140 level. At this point, it looks as if the market is trying to build up the necessary momentum to finally go higher.
The US dollar rallied a bit during the trading session on Friday the in the week on a positive note, as Larry Kudlow has suggested that the US and China are making progress on “Phase 1” of the trade deal.
The British pound continues to go back and forth against Japanese and, as we reached above the ¥140 level. At this point in time, the market looks as if it is ready to continue the same action that we have seen for several days.
The USD/JPY is trading higher on Friday on the back of positive developments over a potential trade deal, however, gains are being limited by lingering worries.
Key US indices continue to rush historical highs. Futures on S&P500; crossed the 3100 mark, adding one third to the price against the lows of the end of last year.
The economic calendar shifts focus to the U.S Dollar. Following Powell’s positive outlook on the economy, retail sales will need to impress…
The British pound has pulled back slightly against the Japanese yen during the trading session on Thursday but has found support yet again at the same in general vicinity. Ultimately, it looks as if the market continues to do more of the same.
Investing.com - The U.S. dollar was unmoved on Thursday as the number of Americans applying for unemployment benefits rose to an unexpected five-month high and there were no new comments on monetary policy from Federal Reserve Chair Jerome Powell.
The Japanese Yen hardly budged after Japan’s GDP data showed the economy grew an annualized 0.2% in July-September, much below economists’ forecast of 0.8%. This is because investors are focused on the lack of progress over a trade deal, and the Japanese Yen’s appeal as a safe-haven asset.
Particularly weak economic data weighed on the risk appetite early on, with a busy day of stats likely to test the markets further in the day.
Investing.com - The U.S. dollar inched up on Thursday in Asia following prepared remarks from Federal Reserve Chairman Jerome Powell. The Australian dollar dropped after the release of weak employment reports.
The US dollar has initially tried to rally during the trading session on Wednesday but then broke down towards the 200 day EMA. At this point, the market looks very likely to continue to see a lot of choppiness, as we had recently tested a major barrier and failed.
The British pound has pulled back significantly during the trading session on Wednesday, reaching towards the bottom of the overall consolidation area that we have been in.