Euro And Pound Soar Amid Low Liquidity
Dear Traders, The euro and pound sterling have soared to fresh highs amid low trading volumes. The upward movement in both EUR/USD and GBP/USD was not only driven by low liquidity but also by a weakening U.S. dollar. While trading volume was low with most U.S. market participants being offline for the long holiday weekend, […]
EUR/USD Remains Below 1.18, GBP/USD Faces 1.33
Dear Traders, The euro ended the trading day virtually unchanged against the U.S. dollar after a bullish reversal towards 1.18 has proved short-lived. We now expect the EUR/USD to trade lower towards 1.1680 unless we see a sustained break above 1.18 and farther 1.1840, which would shift the bias in favor of the bulls. The […]
USD Weakness Sends EUR And GBP Soaring
Dear Traders, While the House passed its version of tax bill Thursday, the U.S. dollar was little impressed and plunged during the Asian session amid low trading volumes. The EUR/USD traded higher in the early European trading hours and we now focus on the 1.1850-barrier, which could prove crucial in terms of further bullish momentum. […]
The Dollar’s Fate Is In The Hands Of The U.S. Tax Reform Bill
Dear Traders, U.S. inflation data, at the end of the day, did not have a major impact on the U.S. dollar with the greenback ending the trading day virtually unchanged against the euro and British pound. The EUR/USD soared to a high of 1.1860 before it fell back below 1.18. Our assumption of a slight […]
Monetary Policy Speak And U.K. CPI Data Could Boost Risk Appetite
Dear Traders, The price trend in both GBP/USD and EUR/USD remains disappointing overall. The price of the euro has barely changed with the currency pair still oscillating around 1.1670. The British pound found some halt near 1.3060 and ended the trading day above 1.31. The lethargic market situation might soon come to an end as […]
USD Dips On Concerns Over Tax Cut
Dear Traders, We finally saw larger market swings Thursday with the EUR/USD finding directional bias toward the North. The catalyst for the weakening USD was news the U.S. Senate would delay tax cuts to the corporate rate until 2019 and while a delay is not what dollar bulls want to hear right now, they sold […]
