Dollar retreat

December 1, 2015

The dollar has been in retreat overnight as the risk environment at the start of the new month is positive. The latest PMI data in China was largely shaken off, the headline manufacturing series falling marginally from 49.8 to 49.6. The best illustration of the better risk tone has been the Aussie, AUDUSD pushing levels last seen since mid-October above the 0.7283 level, as the RBA leaves rates unchanged after its latest meeting. As we’ve pointed out before, the Aussie has shown a lot of resilience recently, helped by the fact that the secular bearish forces that have been pushing it lower over recent years could well be over. The kiwi has also been pushing ahead, pushing above the 0.6650 level on the strength of the latest house price data. Elsewhere, the euro has also seen some recovery, but the moves have naturally been a lot more muted ahead of Thursday’s crucial ECB meeting, EURUSD currently stalling just below the 1.06 level.

Today sees final PMI data for the Eurozone, with German labour market data also released just before 09:00 GMT. More risk comes from the UK manufacturing PMI data at 09:30 GMT, given no preliminary numbers are released beforehand. Cable touched the 1.50 level yesterday, but not on a sustained basis and the overnight dollar weakness has taken it back to the 1.51 level. This should keep the bears contained for now, but given the moves we’ve see on short-term interest rates, cable continues to look vulnerable to further losses. EURJPY continues to sit on the 130 level, as has been the case for the past week now.

Publication source
FxPro information  FxPro reviews

January 19, 2017
U.S. reports revealed a hefty 0.8% December industrial production
Asian stock markets traded mixed, with Japan and ASX moving higher, as Fed’s Yellen said she expects to hike rates few times a year through 2019 to 3% neutral rate...
January 19, 2017
Yellen repeats Fed is close to meeting targets, USD up
The speech by the US central bank governor Janet Yellen did not offer any new insights on the attitude of FOMC, nor did it cause large shifts in the pricing of future rate hikes (even if now 3 rate hikes in 2017 look again more probable than only one, with 2 remaining the most expected outcome)...
January 19, 2017
Trump vs Yellen & Draghi vs Weidmann
The U.S. dollar has been on a roller-coaster this week. After dropping by more than 1% on Tuesday the dollar index recovered 0.9% from its lows...

Fort Financial Services Rating
FXCM Rating
Larson&Holz IT Ltd Rating
FBS Rating
HotForex Rating
Grand Capital Rating

EZTrader Rating
UKoptions Rating
OptionRally Rating
Empire Option Rating
GTOptions Rating
Porter Finance Rating