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Dollar Steady After Yellen Comments and Chinese Data and Other Top Forex News.

The dollar was mostly higher on Wednesday, after Chinese first quarter growth data came in slightly above estimates, while the Canadian dollar suffered following a dovish rate statement from the Bank of Canada. This mornings data from China buoyed the market, with The Chinese Republic posting a 7.4% gain in gross domestic product for the […]

Top Trade Idea For April 16th, 2014 – GBP/USD

The pound extended its gains this morning following the release of some cheerful jobs data out of the UK. The GBP/USD climbed to an initial high of almost 1.6820, which was the previous 2014 high, while the EUR/GBP nearly dropped to last week’s low of 0.8230. Both pairs then paused for a breather as investors […]

Chart Of The Day For April 16th, 2014 – EUR/USD

By Ilya Spivak, EUR/USD Technical Strategy: Pending Short Support: 1.3835 (23.6% Fib exp.), 1.3793 (38.2% Fib exp.) Resistance: 1.3905 (Apr 11 high) The Euro has turned lower anew against the US Dollar having found resistance just above the 1.39 figure. Prices are testing support at 1.3793, the 38.2% Fibonacci expansion, with a break below that targeting the 50% level at 1.3758. Near-term […]

UK Unemployment Drops Below 7% – Pound Blasts Above 1.6800

Market Drivers April 16, 2014 UK unemployment dips below 7% Chinese data mixed Nikkei 3.01% Europe .97% Oil $104/bbl Gold $1301/oz. Europe and Asia: CNY GDP 7.4% vs. 7.4% CNY IP 8.8% vs. 9.1% CNY Retail Sales 12.2% vs 11.9% GBP claimant count -30K vs. -30K GBP 6.9% vs. 7.1% GBP Average earnings 1.7% vs […]

British Pound Bulls Fear Weaker Inflation Statistics

Talking Points: Dollar Bounces Along with Yields, CPI a Key Benchmark British Pound Bulls Fear Weaker Inflation Statistics Euro Takes Another Hit as ECB’s Threats Pick Up Intensity Dollar Bounces Along with Yields, CPI a Key Benchmark US equities may have put up a decent rebound to open the week, but that wouldn’t stop the […]

Dollar Mostly Higher Despite Inflation Data and Other Top Forex News.

The dollar was trading mostly higher against the other major currencies on Tuesday, despite this mornings inflation data coming in higher-than-expected. This mornings data showed that consumer price inflation rose 0.2% in March, exceeding expectations for a 0.1% gain, after a 0.1% uptick the previous month. With core consumer price inflation, which excludes food and […]

Chart Of The Day For April 15th, 2014 – EUR/USD

By Ilya Spivak, EUR/USD Technical Strategy: Pending Short Support: 1.3835 (23.6% Fib exp.), 1.3793 (38.2% Fib exp.) Resistance: 1.3905 (Apr 11 high) The Euro may be carving out a top below 1.39 to the US Dollar after prices put in bearish Evening Star candlestick pattern. A break below support at 1.3835, the 23.6% Fibonacci expansion, initially exposes the 38.2% level at 1.3793. […]

Will Yellen Crush The Dollar?

By Boris Schlossberg, Market Drivers April 15, 2014 UK CPI in line EUR ZEW misses a bit on Ukraine worries Nikkei .62% Europe -.43% Oil $102/bbl Gold $1310/oz. Europe and Asia: GBP CPI 1.5% vs. 1.5% EUR ZEW 43.2 vs. 46.3 North America: USD CPI 8:30 AM USD Empire 8:30 AM Cable saw some early […]

Pound at Risk on Soft UK Inflation Data, Euro to Look Past ZEW Outcome

Talking Points: British Pound May Fall as Soft Inflation Data Erodes BOE Policy Bets Euro Unlikely to Find Lasting Volatility in German ZEW Survey Outcome US Dollar May Rise on QE “Taper” Continuity is CPI Tops Expectations The March set of UK inflation data headlines the economic calendar in European trading hours. The headline year-on-year […]

Dollar Boosted By Upbeat Retails Data and Other Top Forex News.

The dollar began the week in buoyant mood after the release of stronger than expected U.S. retail sales data for March, offset growing concerns over a slowdown in China and rising tensions in the Ukraine. The official data showed that U.S. retail sales came in 1.1% higher for March, exceeding expectations for a 0.8% gain. […]

Top Trade Idea for April 14th, 2014 – EUR/CAD

While there continue to be mixed signals in the forex market in terms of correlations, there still exist basic technical set-ups.  EUR/CAD being one to consider. EUR/CAD is likely to run into resistance into the 1.5150 area where short positions make sense.  Stops are tight, just above 1.5184 and a downside target of 1.5080   […]

Chart Of The Day For April 14th, 2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Pending Short Support: 1.3835 (23.6% Fib exp.), 1.3793 (38.2% Fib exp.) Resistance: 1.3905 (Apr 11 high)

IEuro Starts to Slide as ECB Finally Jawbones

By Boris Schlossberg Market Drivers April 14, 2014 Draghi, Noyer all express concern over exchange rate, deflation euro gaps lower Ukraine standoff remains tense Nikkei -.36% Europe -.52% Oil $104/bbl Gold $1326/oz. Europe and Asia: GBP RICS 2.6% vs. 1.6% EUR IP 0.2% as eyed North America: USD Core Retail Sales 8:30 AM USD Business […]

US Dollar to Weigh Retail Sales Data, Risk Trends for Direction Cues

Talking Points: Euro Falls as ECB’s Draghi and Coeure Talk Up Stimulus Expansion Upbeat US Retail Sales Data May Boost Fed “Taper” Continuity Bets US Dollar May Follow UST Yields Down as S&P 500 Futures Decline The Euro came under pressure to start the trading week, hobbled by comments by ECB President Mario Draghi and […]

Dollar Steadies After Rough Week and Other Top Forex News.

The dollar steadied after a woeful week on Friday after the release of positive U.S. economic report, but Wednesday’s dovish Fed minutes continue to weigh on the market, limiting gains. This mornings data was enough to steady the ship, with the University of Michigan saying that the preliminary reading of its consumer sentiment index rose […]

Chart Of The Day For April 11th, 2014 – EUR/USD

By Ilya Spivak, EUR/USD Technical Strategy: Pending Short Support: 1.3830 (23.6% Fib exp.), 1.3793 (channel top) Resistance: 1.3928 (38.2% Fib exp.), 1.4007 (50% Fib exp.) The Euro continued to push higher against the US Dollar as expected after prices broke above resistance at the top of a falling channel set from mid-March. The pair is now positioned to test the 38.2% Fibonacci expansion at […]

Is ECB Digging Its Own Policy Grave?

By Boris Schlossberg , Market Drivers April 11, 2014 Euro rejected at 3900 Chinese, German inflation in line Nikkei -2.38% Europe -.38% Oil $103/bbl Gold $1315/oz. Europe and Asia: CNY CPI 2.5% vs. 2.5% EUR GE Final CPI 0.3% vs. 0.3% GBP LEI 0.4% vs. 0.6% North America: USD PPI 8:30 AM USD U of M […]

Dollar Broadly Weaker As Fed Minutes Weigh and Other Top Forex News.

The dollar continued to sell-off on Thursday after yesterday’s minutes from the Federal Reserve’s March meeting indicated that rates are likely to remain on hold for some time, and did not elaborate on a possible timeframe for when rates could start to rise. During today’s session the dollar was lower against most of the major […]

Chart Of The Day For April 10th, 2014 – EUR/USD

By Ilya Spivak, EUR/USD Technical Strategy: Pending Short Support: 1.3830 (23.6% Fib exp.), 1.3800 (channel top) Resistance: 1.3928 (38.2% Fib exp.), 1.4007 (50% Fib exp.) The Euro looks poised to extend its recovery against the US Dollar after prices cleared resistance at the top of a falling channel set from mid-March. Buyers now aim to challenge the 38.2% Fibonacci expansion at 1.3928, […]

Aussie Hits Fresh Highs, as ECB Runs out of Excuses

By Boris Schlossberg , Market Drivers April 10, 2014 Aussie takes out 9450 as employment data much better Weidemann – we are watching inflation closely Nikkei 0.0% Europe 0.0% Oil $103/bbl Gold $1320/oz. Europe and Asia: AUD 18.1K vs. 7.3K AUD Unemployment 5.8% vs. 6.1% CNY Trade Balance 7.7B vs. -0.9B EUR French CPI 0.4% vs. […]

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