6th Consecutive Daily Drop for EURUSD?
Overnight the dollar continued higher against the euro and put pressure on commodity prices. Gold, platinum and silver plunged to their lowest in more than seven months on the back of concerns about a weakened global economy and slowing demand.
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UK Housing And Consumption Showing Few Signs Of Life As GBPUSD Dips To 1.9000
EURUSD is under further pressure and trading new lows below 1.4850 as of this writing as the ECB’s Bini Smaghi made further comments indicating that the EuroZone economy will be far weaker than anticipated. With this kind of reaction, it’s beginning to feel like this USD rally is a bit…
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Daily Financial Market Outlook
Key data for release today includes July UK CPI, RPI and RPIX price inflation. Cuts in petrol pump prices may have offset higher utility bills leading to no change on the month, but on an annual basis, CPI inflation is likely to have risen by 4.4% in July, up from…
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FX Overnight Briefing
Japanese wholesale prices rose 7.1 % in July from a year earlier, Bank of Japan data showed on Tuesday, well above the median forecast of economists for a 5.8 % rise. The corporate goods price index (CGPI) tracks trends in the wholesale prices of goods.
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The Dollar Extends Its Rally
Yesterday we saw a short rally in EURUSD early in the European trading session. However, the gains made by the euro disappeared rather quickly as the dollar rallied again and extended its gains it has made over the last few weeks late in the US trading session on further weakness…
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Greenback Remains Strong…
More clear signs the Euro won’t recover any time soon, as it continued rallying to the downside reaching as low as 1.4860 levels, as now descending channel is wide open, personally nobody in the financial markets are not taking into consideration any technical analysis, as they are now waiting for…
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Asia Session Recap
The US Dollar continued its hot streak in Asia as it blasted to new highs against the Euro and reached a level not witnessed in about six months. The EUR/USD continued its dynamic trek at levels near 1.4900 at the Asia open and went to a 1.4928 high before disintegrating…
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Euro Open: Oil Drop, Georgia Conflict May Extend Dollar Gains
The Euro continued downward in Asian trading, passing support at 1.4884 to reach as low 1.4859. DailyFX Chief Strategist Jamie Saettele expects the Euro to decline as low as 1.4668. Near-term support stands at 1.4753, with resistance at 1.5159. Sterling traded lower overnight, bypassing support at 1.9082 to reach a…
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Asian Market Update
With little news to guide currency markets, the USD continued to gain ground against the majors (USD index hit a 6-month high in Asia). AUD/USD opened the Asian session weaker for a 10th consecutive day, with the pair finding some near-term support at 0.8760. USD/JPY upside looks relatively contained for…
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The Dollar Continues To Strengthen
The Euro (Eur/Usd) has been trading lower for the past 6 days, a period in which the pair fell close to 700 pips. The markets are now pricing the possibility of at least 25 basis points by the end of the year from the Fed, which empowers the dollar. In…
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