News Update for Currency Pairs

Discussion in 'Currency Pairs' started by Profiforex_Victory, Mar 10, 2016.

  1. Larry

    Larry Administrator

    USDJPY managed to rebound by 20pips, but still in red

    The pair bounces of lows on Thursday, but still in the red zone. There is now a pause to its bearish slide for the time being. The US Treasure Yields picked up and helped the pair to find support near the 112.65 region.

    The Japanese Yen continues to suffer from the prevalent cautious sentiment around European equity and might be a blockage to any meaningful recovery amid pre-holiday thin liquid conditions. USDJPY watchers now look forward to the US economic docket, which includes the initial weekly jobless claims, Chicago PMI and some goods trade balance data, for fresh signs of movement during the NA session.
     
  2. Larry

    Larry Administrator

    AUD Under Pressure From Economic Data

    Global Head of Currency Strategy at BBH reported news of a sharp decline in the Australian Trade Balance in October and November, which managed to halt the AUD uptick. Here is a quote from the analyst:

    The Aussie was trading near $0.7500 in early December and finished the year near $0.7800. The gains were extended to almost $0.7870 before the trade report. Initial support in the $0.7835-$0.7840 area was tested. The RSI has turned down, and the MACDs are poised to do so in the coming days. The MACD needs more work. A break of $.07760-$0.7780 is needed to boost confidence a top is in place. Note too that the Australian two-year yield is set to fall back below the US two-year rate (as was the case for most of the first half of December).”
     
  3. Larry

    Larry Administrator

    EUR/USD struggles below mid-1.1900s, hangs near 1-1/2 week lows

    The EURUSD edges closer to its previous one week low as the U.S Treasury bond yields get an upsurge. This has been a major factor weighing on the major. Investors believe that the Fed would continue with its gradual monetary policy tightening cycle through 2016, which helped the 10-year bond yield to a 10-month high and pulled the greenback upward.

    The key focus, however, would be on this week's other US macro data, namely the latest inflation figures, which might turn out to be a key determinant of the pair's near-term trajectory.
     
  4. Larry

    Larry Administrator

    EUR/USD moves past the 1.20 handle after ECB meeting

    The EURUSD continued its bullish momentum and moved passed the key level 1.20 (Psychological mark), making it to a three day highs early Thursday NA session. The pair previously fell to the 1.1930 region before regaining its feet during the mid-European session.

    The Bulls were strengthened after the ECB meeting that a possible shift in guidance could come in early 2018. There was also the release of US economic data, which fell short of consensus estimates and added pressure on the dollar. The dollar continued to weaken during the early NA session after the released Data showed that Producer prices plunged in December, missing expectation dramatically and deflating the most since August 2016.

    Fxstreet indicates the following Technical Levels to Watch:

    “Immediate resistance is now pegged near 1.2065-70 zone, above which the pair is likely to make a fresh attempt to clear 2017 yearly highs resistance around the 1.2090 region and aim towards testing its next major hurdle near the 1.2165 region. On the flip side, 1.2015 level, closely followed by the 1.20 round figure mark now seems to protect the immediate downside, which if broken might accelerate the slide back towards 1.1930 horizontal support en-route the 1.1900 handle.”
     
  5. Larry

    Larry Administrator

    EUR/GBP likely to remain in the hands of investor appetite


    EUR/GBP bounced above 0.89 yesterday driven by the EUR rally, which was triggered by hawkish ECB headlines, points out Senior Analyst, Jens Nærvig Pedersen at Danske Bank.

    Key Quotes

    “In the near term, EUR/GBP is likely to remain in the hands of investor appetite for EUR and Brexit news, and we still look for the cross to remain within the 0.8650- 0.90 range. Longer term, we still see potential for a break lower in EUR/GBP driven by possible clarification on Brexit negotiations and valuations. However, yesterday’s ECB minutes and the rally in EUR is a reminder that while GBP is set to strengthen on a lower Brexit risk premium, a general EUR recovery driven by the ECB moving towards an exit could potentially limit the downside potential.”

    “We target 0.87 in 6M and 0.86 in 12M, but stress the risks are that a break lower in the cross could come sooner than our forecast indicates.”
     
  6. Larry

    Larry Administrator

    EURUSD Met With Multiple Obstacles as it Tries to Continue Its Recovery

    The Pair started the week on a bullish note and witnessed two good price movements in a positive direction. However, its recovery was put to a stop in early Europe session on Tuesday and dropped as low as 1.2216 after the report that the German SPD rejected coalition talks with Merkel’s Conservative parties. The EURUSD was hit hard but the bulls managed to fight back and took control somewhat as the German coalition breakdown fears subsided. The pair moved back toward the 1.2270 region.

    Unfortunately once again a fresh buying wave caught by the US dollar drove the pair to the 1.22 handle, as recovery was pinned.

    There is nothing of note for the pair in the day ahead, except for the second-liner US regional manufacturing index. Hence, attention turns towards the Eurozone final CPI and US industrial figures slated for release tomorrow
     

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