|Day's Range||0.009 - 0.009|
|52 Week Range||0.0087 - 0.0094|
Based on the early price action, the direction of the June U.S. Dollar Index on Thursday is likely to be determined by trader reaction to yesterday’s close at 97.881. Better-than-expected data could spike the Euro higher and the U.S. Dollar Index lower. The index could make a new high for the year if the data comes in weaker than expected.
The US dollar pulled back slightly against the Japanese yen during trading on Wednesday, and that being the case it’s very likely that we are going to continue to see a bit of range bound trading. After all, we are trying to fill a major gap and at the same time there are plenty of headwinds out there that make the markets nervous.
Based on yesterday’s close at 110.485 and the current price action, the direction of the USD/JPY on Wednesday is likely to be determined by trader reaction to the 50% level at 110.355.
UK Inflation and European politics to whipsaw the Pound ahead of the FED monetary policy meeting minutes later today.
The US dollar’s rallied a bit against the Japanese yen during early trading on Tuesday, in a sign of strength yet again. This of course is a pair that is very sensitive to risk appetite globally so you have to keep that in mind.
Based on the early price action and the current price at 97.900, the direction of the June U.S. Dollar Index the rest of the session is likely to be determined by trader reaction to the downtrending Gann angle at 97.950.
Based on the early price action, the direction of the USD/JPY on Tuesday is likely to be determined by trader reaction to the downtrending Gann angle at 110.030. A sustained move over 110.030 will indicate the presence of buyers. Taking out 110.318 will negate the reversal top, while a move through the 50% level at 110.355 could trigger a spike into the short-term Fibonacci level at 110.672.
The Safe-haven pair dropped from last week’s high amid positive Japanese data and plunging USD Index. Iran Foreign Minister commented on Trump’s tweets against Iran as “genocidal taunts”.
June U.S. Dollar Index traders should keep an eye on the Euro since it is heavily weighted in the index. The Dollar Index could weaken if the EUR/USD takes out 1.1164 and strengthen if the EUR/USD breaks through 1.1152.
Based on last week’s price action and the close at 110.068, the direction of the USD/JPY this week is likely to be determined by trader reaction to the uptrending Gann angle at 110.180.
The US dollar initially fell during most of the week, but since then we have gone back and forth on the daily charts to form a bit of a zigzag on the way back to the highs. Adding more interest to the market is the fact that we are forming a weekly hammer.
The US dollar fell a bit during the trading session on Friday, as we continue to see a lot of noise against the Japanese yen. This makes sense, because there’s a lot of noise coming out of the US/China trade situation, and of course the Japanese yen is an extraordinarily “safe currency.”
Traders are taking advantage of a lull in news flow stemming from US-China trade tensions to send Asian stocks higher.
A relatively quiet economic calendar leaves Brexit and trade war chatter in focus. Is the trade spat about to get worse and can Theresa May deliver?
Buying sentiment towards the Dollar took a hit on Wednesday afternoon after US retail sales unexpectedly declined in April for the second time in three months.
The Aussie Dollar touches sub-$0.69 as more stats disappoint. Chatter on trade and a sparse economic calendar will be in focus today.
The early Wednesday movements in Asia suggest that investors are tepidly putting some risk back on the table, even as uncertainties surrounding US-China trade tensions continue to cast a cloud over market sentiments.
Economic data out of China set the tone early. How much of an impact has the trade war really had on both economies? Are we about to find out?
Based on Tuesday’s close at 109.606 and the inside trading range, the direction of the USD/JPY on Wednesday is likely to be determined by trader reaction to Monday’s high at 109.859.
The U.S. dollar strengthens Tuesday, attempting to snap a 4-day losing streak against its key rivals, amid a contentious dispute between the U.S. and China over trade.
The Brexit deadlock continued to trouble the Cable. Crude prices jumped for the second time in this week following a drone attack on the Saudi State Oil Company.
The US dollar bounced a bit during the trading session on Tuesday, as the ¥109 level has held as support. That being said, we had given back some of the gains early in the day, so we could be looking at short-term range bound trading.
The Chinese yuan on Monday tumbled to its lowest level since Christmas Day 2018 as the fallout from the trade spat between the U.S. and China continues.
As a response to the recent US additional tariffs, the Chinese today retaliated by imposing tariffs on over $60 Billion of US imports. The investor sentiment dropped.