Australian’s retail sales dropped for the first time in February during current year that led to increase pressure on monetary policy makers in Australia to stop interest rate hikes, the Reserve Bank of Australia raised interest rate to 4% until now, while expectations still indicated that the bank will continue…
The EURUSD attempted to push higher yesterday, topped at 1.3535 but whipsawed to the downside, bottomed at 1.3395 and closed at 1.3412 after a better than expected US consumer confidence data. Technically this fact could end the bullish correction scenario testing 1.3250 and 1.3100 area. Today we will have unemployment…
A raft of economic data yesterday supported sterling, including the unexpected upward revision to UK Q4 GDP, a smaller than expected current account deficit and strong Nationwide house price data. However, upward pressure on market interest rates was limited, given the uncertainty about the strength of the recovery this year….
Yesterday’s gains certainly look bullish and with momentum still quite strong we may well see follow-through today. There is a barrier at 140.80-90 and this could cause a correction so take care. A break above 140.90-00 would maintain the bullish momentum for a move above 141.27-54 and into the 141.82-04…
EUR/USD closed lower due to short covering on Tuesday as it consolidates some of the rally off December’s low. The low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI are oversold but remain neutral to bearish signalling that sideways to lower prices…
U.S. Dollar Trading (USD) gained against its two biggest pairs in the Euro and Yen as Greece concerns resurfaced and rumors of a French ratings downgrade hurt the Dollar alternatives. March Consumer Confidence improved to 52.5 vs. 46.4 previously. Also released, January Case Shiller increased 0.3% vs. -0.7% previously. In…
Euro 1.3430 Initial support at 1.3270 (March 26 low) followed by 1.3247 (May 6 low). Initial resistance is now located at 1.3537 (Mar 30 high) followed by 1.3569 (Mar 23 high)
The Greenback is looking ‘cool’ these days. The Euro lower today, near 1.3410, down from yesterday’s high near 1.3537. The Yen has also weakened further with USD-JPY trading near 93.10. See further weakness for both the Euro and the Yen, targeting 1.33 and 95 respectively. The Euro-Yen Cross (125.00) is…
Deflationary pressures continue in Japan with February CPI reported to have declined by an annual rate of 1.2%. This marked the 12th consecutive month that Japan’s CPI has declined. The Japanese government has been pressuring the BOJ to take actions to combat deflationary pressures. Earlier in the month the BOJ…
A bounce in US consumer confi dence helped equities open stronger, but a downgrade of Iceland’s local currency rating by Standard & Poor’s, from BBB+ to BBB (with negative outlook), dampened the optimism. The rating agency said the imposition of capital controls restricted Iceland’s investment prospects and fi scal fl…
