No Hope For Dollar Bulls?
Dear Traders, We welcome you to a new trading week. Last week ended with a spike high of 1.1212 in the EUR/USD while continuing U.S. dollar weakness remains the dominant market theme. The greenback still struggles to gain ground as political instability fears weigh on the Federal Reserve’s rate hike outlook. Investors fear that political […]
Euro Traders Profit From Weakening U.S. Dollar
Dear Traders, The U.S. dollar is taking its cue from political turmoil surrounding the Trump administration. In times of political uncertainty and unpredictability in the U.S., many investors got rid of their dollar positions which contribute to the recent dollar weakness. The euro, in return, benefited from the weakening greenback and rose towards 1.1175. There […]
Will U.K. CPI Data Prompt Sterling Bulls For A Run For 1.30?
Dear Traders, Euro bulls have regained control and pushed the EUR/USD up to a test of 1.10 this morning. Traders are now on the look-out for a sustained upside-break of that psychological level. If the euro breaks above 1.1023, the opening price following the first round of French elections, we see chances of a climb […]
Euro Bulls Profit From U.S. Dollar Weakness
Dear Traders, The U.S. dollar traded lower against the euro and British pound after U.S. retail sales and CPI data fell short of estimates. Following Friday’s softer reports, the odds for a Federal Reserve rate increase next month have fallen to about 70 percent, even though data was still good enough to bolster the case […]
BoE Disappoints, Pound Falls, What’s Next?
Dear Traders, The Bank of England disappointed investors that have been buying the British pound ahead of the Inflation report as the medium-term inflation forecast came in lower than expected. Traders who had hoped for a hawkish tone or more than one dissent calling for a rate hike in the BoE’s monetary policy statement were […]
Euro And Cable Test Crucial Support Levels On USD Strength
Dear Traders, Sellers in the EUR/USD and GBP/USD profited from a stronger U.S. dollar on Tuesday. The current strength in the greenback is of a more technical nature since market participants are tending to take profit on long positions when currency pairs approach overbought territory. Hence, a pullback was the logical consequence. Moreover, the Federal […]
