Currency movers for August 03, 2015

3 August, 2015

EURUSD, Daily

EURUSD, continues to seek support from buyers as price remains above the downward channel line. The EUR found support around the 1.0920’s, as the USD dropped on Friday following weaker than expected U.S. Q2 ECI data. In my July 29th analysis, I reported that EURUSD price “may return towards the 1.0970’s, before flipping to the long side for a re-test of the 1.1120’s.” The fact that recent price action has exceeded the 1.0970’s to test and establish a higher low at 1.0920 from the July 20th low of 1.0808, opens up a renewed recovery towards the July 27th 1.1120’s resistance area. Price may now attempt to extend the recovery to the 1.1220’s before resumption of the multi-week decline.

Today’s Currency Movers

Friday saw better EU inflation data as inflation remained stable at 0.2%, although, it was weaker than U.S. employment data, which sent the EURUSD sharply lower. The move was seen by the market as overdone and the EURUSD quickly made it back to test the 1.10’s.

The U.S. Fed funds median still shows a 25 bp rate hike in September, Key reports are on tap this week, including payrolls, PMIs, income, and spending.

TB AUG 3 2015-08-03 11:00:09

Currency Pairs, Grouped Performance (% change)

The Currency Movers Charts show the percentage change from previous five day close to the current moment against the other major currencies.

The GBP is trading firmer against the majors on the back of accelerating UK GDP data.

The CAD trades lower against most pairs, as Canada missed GDP expectations.

Significant daily support and resistance levels for these pairs are:

CM AUG 3 V2 2015-08-03 11:23:17

Main Macro Events Today

• UK Manufacturing PMI: There is downside risk after last week’s July CBI industrial trends survey unexpectedly declined to a -10 in the realized sales reading, which was the weakest since July 2013, reflecting the UK manufacturing sector’s sensitivity to the prevailing trade-weighted strength of the pound.

• USD Manufacturing PMI: July ISM will be released today and it’s expected that the headline to remain steady at 53.5 (median 53.8) for a second month.

EC Aug 3  2015-08-03 10:49:07


Source link  
Stock markets were underpinned

Asian Market Wrap: Core yields moved higher and stock markets were underpinned as Trump tweeted enthusiastically about the summit with North Korea's leader...

Gold spikes to near two-week tops

Last week’s recovery move supported by persistent USD weakness. Reviving safe-haven demand/subdued US bond yields provides an...

Gold falls at Friday close to 1275

The key commodity was pivoting around $1285 with support at $1282 and resistance around 1286. The London close, put pay to that as a raft of futures...


Stock market recovery continued

Still, U.K. and U.S. futures are also moving higher, indicating that abating fears over North Korea are keeping markets underpinned, while earnings optimism...

NZDJPY beneficiary of Asian session

With a the NZD is overvalued on one side and Sabre rattling between North Korea and the US continuing overnight there was really only...

Euro above 1.18 against the dollar

Asian stock markets moved higher, with a rally in banks underpinned by earnings reports and helping to offset pressure on exporters and automakers...


Gold support at 1258 but rolled over 15m

Gold remains bullish having posted at high over 1265 yesterday. My bias remains long and I entered again at 1258 last night. However, the intraday...

FOMC held rates steady

The Fed’s reluctance to commit to a time for QT beyond “relatively soon” and the fact that the Fed appeared to be moderately more concerned...

FOMC decision to outline its balance

U.S. markets will have a lot on their plates this week as they continue to assess the June jobs data, global developments in the aftermath of the G20 meeting...


In the past 24 hours Bitcoin has lost -0.84% and reached $6527.11401215. Open your trading account with the best cryptocurrency brokers on special terms today.

In the past 7 days the EUR/USD pair has gained 0.6352% and is now at $1.1587. Start trading and making money on Forex today.

In the past 7 days Ethereum has lost -6.99% and is now at $206.211271948. Have the most popular cryptocurrencies compared online 24/7.


Top Brokers offering Forex Market Analysis



Forex Currencies Forecasts



Top 10 Forex Brokers 2018

# Broker Review
1easyMarketseasyMarkets91%
2FXTMFXTM88%
3HYCMHYCM87%
4Alfa-ForexAlfa-Forex86%
5FxProFxPro85%
6FIBO GroupFIBO Group84%
7OctaFXOctaFX83%
8HotForexHotForex82%
9FXCMFXCM80%
10AvaTradeAvaTrade77%
  


Share: