The NZD/USD pair’s previous encounter of the medium ascending channel pattern’s lower trend line resulted in a surge. A surge which attempted to break past the resistance levels near the 0.7320 mark twice.
However, by the middle of Friday’s trading session the currency pair had retreated below the weekly R1 at 0.73 and below the combined support of the 55 and …Read More
The Pound continues to appreciate against the US Dollar for the sixth consecutive session.
The pair managed to edge higher on Thursday; however, it lost its momentum near the 2017 high of 1.3925. This suggests that bulls might have exhausted their strength, thus paving the way for a possible decline in price. This is likewise apparent from the two short-term channels …Read More
The global financial markets will be clued in to the economic calendar on Friday, with investors anticipating high profile reports from both sides of the Atlantic.
Action begins at 07:00 GMT with a report on German producer inflation. The producer price index (PPI) is forecast to rise 0.2% in December, following a 0.1% increase the month before. In annualized terms, this …Read More
The EUR/USD price has restored some of the previously lost positions. Volatility remains high thanks to recent statements by ECB officials according to which the recent growth of the single currency may lead to the regulator considering actions in order to restrain its unreasonably strong rise. Statistics from the US housing market were mixed with building permits increasing to 1.30 …Read More
Following a minor period of consolidation during the first half of Tuesday, the bearish sentiment prevailed in the market and thus sent Gold down to the 1,332.00 area. Subsequently, the rate returned for a re-test of its four-month high of 1.344.03, but fell lower once again.
These increasing fluctuations demonstrate that Dollar bulls might have finally increased in strength. However, no …Read More
ECB Governing Council member Ewald Nowotny is on the wires now, via Reuters, speaking at the Euromoney CCE Conference in Vienna.
Nowotny noted that the Euro exchange rate must be observed.
His comments come after ECB’s Constancio said that he will be worried about the Euro moves that don’t reflect fundamentals.
According to the results of a Bloomberg survey of 30 economists on the Swiss economy for 2018, a majority of them see the Swiss economy expanding by 0.5% in Q4 2017.
Prior survey showed Q4 2017 growth +0.7%.
GDP 1Q 2018 +0.5% q/q vs prior +0.4%.
GDP 2Q 2018 +0.4% q/q vs prior +0.4%
GDP 2017 +1.0% y/y vs prior +0.9%.
GDP 2018 +1.9% y/y vs …Read More
Monetary policy will be in the headlines on Wednesday as the Bank of Canada (BOC) gets set to vote on interest rates. The BOC is expected to continue raising interest rates thanks to a firming domestic economy.
Action begins at 10:00 GMT with a report on Eurozone consumer inflation. The consumer price index (CPI) is forecast to rise 0.4% in December, …Read More
The bearish pressure continued to prevail on Monday, thus sending USD/JPY towards the combined support of the monthly S2 and the weekly S1 circa 110.30.
Due to this cluster, the Greenback failed to reach the bottom boundary of a four-month channel circa 110.00. The test of this support was followed by a slight period of recovery until the rate reached the …Read More
Action begins at 07:00 GMT with a pair of German reports centered on inflation. The wholesale price index will provide a snapshot of wholesale values in Europe’s largest economy. Meanwhile, the consumer price index (CPI) will show the average price change for all goods and services purchased by German households. The CPI indicator is forecast to rise 0.6% in December, …Read More