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Euro: Should We Worry About Demands for More Currency Intervention ?

Talking Points: Dollar Advance Stalls as Yellen Comments and Beige Book Chewed Euro: Should We Worry About Demands for More Currency Intervention? British Pound Rallies on Strong Jobs Data, But Not Enough for Next Bull Leg Dollar Advance Stalls as Yellen Comments and Beige Book Chewed With Friday’s liquidity drain closing in, the dollar is […]

Dollar Pares Losses After Upbeat Manufacturing Data and Other Top Forex News.

The dollar recovered ground lost in early trading after the release of upbeat U.S. manufacturing and employment data pointed to underlying strength in the economic recovery. This mornings report from the Federal Reserve Bank of Philadelphia showed that their manufacturing index rose to 16.6 in April, the highest level since September, from 9.0 in March. […]

Chart Of The Day For April 17th, 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 is stalling at chart support just below the 1.38 figure against the US Dollar having found resistance near the 1.39 mark. A break below support at 1.3793 marked by the 38.2% Fibonacci expansion on a daily closing basis […]

Why the Euro Won’t Go Down

By Boris Schlossberg , Market Drivers April 17, 2014 Tankan up big in March despite sales tax pressure German PPI continues to deflate Nikkei 0.0% Europe -.22% Oil $103/bbl Gold $1298/oz. Europe and Asia: JPY Tankan 25 vs. 18 AUD NAB Business confidence 6 vs. 8 EUR GE PPI -0.3% vs 0.0% North America: USD Jobless […]

Top Trade Idea For April 17th, 2014 – USDJPY

Time to take a look at the usdjpy pair as this resilience to break lower is leading us to a single possible scenario: running variation of a contracting triangle on the daily chart. This scenario is going to be invalidated only by a move below 100.75 level so this should be the stop loss for […]

Pound to Look Past Jobless Claims Data, Dollar Eyes Fed Beige Book

Talking Points: Pound Unlikely to Find Momentum in an On-Trend Jobless Claims Decline US Dollar Rebound May Continue to Pro-Taper Tone in Fed’s Beige Book NZ Dollar Weakens as Soft CPI Erodes RBNZ Bets, Yen Falls as Stocks Rise The March set of UK Jobless Claims figures headlines the economic calendar in European hours. Consensus […]

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 […]

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 […]

Trade Idea USD/JPY

BUY USD/JPY  10160  TARGET 10245  STOP/LOSS 10070 $JPY has double based at 10135…and because of this…we would now be looking to go into a long position. We can hold longs…adding to 10112 and only reversing if we break below 10065.. A loss of this support would make the market look weaker then to 10028…but oversold […]

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. […]

Retail Sales Should be Positive for the Dollar But

By Kathy Lien, This morning’s stronger than expected U.S. retail sales report should have been overwhelmingly positive for the dollar and while we did see the greenback appreciate after the release, it has now given up all of its gains versus the Japanese Yen. Investors have to look no further than Treasury yields for an […]

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 […]

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