Uptrend disturbed for USD

7 December, 2015

Imre Speizer, Senior Markets Strategist at Westpac, notes that the faith in the US dollar’s uptrend has understandably taken a knock amid stretched positioning and the disappointing stimulus package the ECB delivered last week.

Key Quotes

“However, Chair Yellen has put her final seal of approval in favour of Dec lift-off and Friday’s strong payrolls report removed the risk of any last-minute data shocks.”

“US rates have further to go to before December is fully priced in - it may not be much but mechanically the front end-can rise a touch further and thus confer a little more support for USD.”

“The USD index (DXY) could have another stab below 98.0 near term but should eventually sustain a rise beyond 100.0.”


Source link  
Gold drops to 4-month low

Gold (XAU/USD) hits a four-month low of $1256. 08 today as yield curve continues to collapse on speculation that tax reform would open doors for faster...

Euro approaching the support level

A break of $1.1800 would be technically important. Sterling, like the euro, appears to have traced out a reversal candlestick pattern-shooting...

Gold holds steady near 6-week highs

Gold trimmed of the early gains to a six-week high and retreated to the $1262 region during early the European session, albeit has managed to hold...


USD stays under pressure on politics

The US dollar inched up from a 13-month low against a basket of six major currencies touched in early trading, assisted by strongerthan-expected...

Dollar rebounds from multi-month lows

The greenback selling pressure seems to have abated for the time being, with the key US Dollar Index (DXY) bouncing off 9-month lows...

EUR/GBP jumps to fresh yearly tops

The EUR/GBP cross was seen building on previous session's strong up-move and has now jumped to fresh yearly tops near 0.8875...


USD: Fed being a little more hawkish

The dollar picked up over the past week, and this continued to be in reaction to a Fed that is being a little more hawkish...

EUR sluggish in recent weeks

EUR has also been surprisingly soft in light of the convincing win by French President Macron...

EUR/USD sinks to session lows

The single currency is now losing the grip vs. the buck, sending EUR/USD to test the area of daily lows in the 1.1240/30. Spot met extra downside pressure...

  


Share: