Sep 12: US dollar has weakened

12 September, 2013

The greenback remained lower versus most of its major counterparts as traders speculated whether the US economy is strong enough for the Fed to consider a reduction in stimulus when they meet next week.

EUR/USD is consolidating above the $1.3300 mark. As for the data releases, today we have the ECB monthly bulletin (8:00 GMT) and industrial production (9:00 GMT). The ECB president Mario Draghi will speak in Latvia around 11:40 GMT – market will pay special attention to his comments. GBP/USD is consolidating around the yesterday’s high of $1.5830 (highest level since February 2013).  Great Britain will start the regular discussion on inflation at 9:00 GMT.

USD/JPY closed below the 100.00 handle yesterday after testing 100.60, the highest level since July 22. Today US dollar slid to 99.50. Asian shares halted a 10-day advance and Japan’s machinery orders stagnated. USD/CHF slid yesterday by about 40 pips to 0.9300 and is now trading little changed in this area.

AUD/USD slid from today’s high around $0.9350 to $0.9250. Aussie dropped after data showed the nation’s employers unexpectedly cut payrolls by 10.8K, while economists expected 0.2K. The nation’s unemployment rate rose to 5.8%. NZD/USD is trading on the upside for the fifth day in a row and has reached to $0.8150 today. New Zealand’s dollar climbed as the Reserve Bank of New Zealand signaled it may raise interest rates earlier than previously expected. USD/CAD has renewed a monthly low at 1.0305.


Source link  
Bulls going to deliver wave 5

There's a possible triangle pattern in wave 4. So, if the price fixates above 6/8 MM Level, bulls are likely going to deliver wave 5. In this case, we should...

Market going to climb even higher

The last "Flag" pattern has been broken, so the price is rising. The main intraday target is the nearest resistance at 1.3345 - 1.3374. If a pullback...

Euro area's PMI

The euro area will release manufacturing and services PMI at 10:00 MT time on August 22. PMI or Purchasing Managers Indexes come from surveys of purchasing managers in manufacturing...


RBA meeting will set the way for AUD

The monetary policy of the Reserve Bank of Australia (RBA) is the key driver of the Australian dollar. The RBA will announce the results of its August meeting...

German IFO business climate

German Ifo business climate will be out at 11:00 MT time on July 25. Germany is the leading economy in the eurozone, so significant changes...

Morning brief for November 18, 2016

USD/JPY surged above 110.55. The greenback was buoyed after Fed Chair Yellen confirmed that a rate hike could come “relatively” soon. Yesterday the BOJ launched an implementation of its yield curve policy buying JGBs to weaken the yen...


Fed rate policy puts South Korea at risk

The South Korean economy is currently facing downside risks. It’s because the American Federal Reserve is all geared up towards raising interest rates, while Korea is busy with overhauling its shipping as well as shipbuilding industries, as the finance ministry reported on Thursday...

USD/JPY: what's limiting growth?

Among the positive factors for this pair we can mention good data from the US and the difference in the monetary policy of the Federal Reserve and the Bank of Japan. In addition...

A.Weber: what to expect from USD?

DXY holds slightly below its 4-year high on Wednesday, pressured by US airstrikes in Syria and by dovish comments of the NY Fed President Dudley. This week he said a stronger currency could hurt the US economic growth...

  


Share: