Dollar recovers, but euro holds ground

March 31, 2015

The dollar is just about regaining the upper hand and certainly in the case of the Aussie, AUDUSD has retraced all the way back from above 0.7900 just a week ago to 0.7630 at the time of writing, not all that far off testing a near six year low. Downward pressure on the Aussie is coming from growing concerns about China and commodity prices that remain depressed. This hasn’t put off risk appetite in many Asian equities which continue to test and push to new seven year highs, but iron ore and crude are languishing indicating that investors see a tough run for China over the longer term, whereas short term stimulus measures could keep indices supported.

The dollar recovery has not played out so much against the euro with EURUSD at 1.0780, still some way off its lows, as recent data continues to surprise with yesterday showing decent German inflation figures and some surprisingly strong Italian confidence numbers all allowing the single currency to hold its ground. Already this morning German retail sales have come in slightly better than expected month-on-month and even French consumer spending has managed a 0.1% rise as opposed to the expected 0.0%. Eurozone inflation data this morning will be closely watched and then later in the day we see US consumer confidence expected to post a figure of 96.0, just slightly down on the previous month’s number of 96.4. Overnight keep an eye out for the Japanese Tankan data and Chinese non-manufacturing PMI as we commence the new month and quarter.

Publication source
FxPro information  FxPro reviews

December 2, 2016
It's not the jobs numbers
It’s not bee the economy that has been driving the dollar over the past 3 weeks, of that we can be pretty sure. Rather, it’s been expectations of tax cuts and spending increases, together with incentives for dollar repatriation under the new President...
December 2, 2016
OPEC alliance stuck a global agreement
The Oil prices jumped on Wednesday after the organisation members agreed to pare production first time since 2008, to reduce global oversupply, which made the prices collapse by half since mid-2014...
December 2, 2016
Rebound continues in UK construction
The latest data on the UK construction sector was released this morning, and will likely be seen as positive overall as the recovery from the Brexit shock appears to be persisting. Despite this the FTSE 100 is under pressure this morning...

 FXTM Rating
XTB Rating
Fort Financial Services Rating
OANDA Rating
Z.com Trade Rating
FOREX.com Rating

IQ Option Rating
TropicalTrade Rating
24option Rating
Anyoption Rating
Porter Finance Rating
OptionBit Rating