U.S. dollar maintains gains on hawkish Fed speak

30 March, 2017

The U.S. dollar managed to maintain gains as the buck was supported by hawkish speeches from various central bank officials on Wednesday. The rebound comes as investors had previously sold off the U.S. dollar following the failed Healthcare bill.

Among the Fed officials who spoke on Wednesday were Charles Evans, John Williams and Eric Rosengren, all maintaining the rhetoric that they expect to see at least two rate hikes this year. The comments aren't something new for the markets but helped to boost confidence in the greenback.

In the UK, the Article 50 was formally triggered by PM May which turned out to be a volatile day for the British pound. Many questions remain on the progress of the exit talks with the EU and also the bid for another Scottish referendum which has been rejected so far.

EURUSD intra-day analysis

EURUSD (1.0750): EURUSD has been falling for the second consecutive day as the common currency fell to a 6-day low yesterday, closing at 1.0763. With the Stochastics now moving out from the overbought levels, EURUSD is expected to continue to push lower after breaking down below 1.0800. There was no retracement or a pullback as expected.

With the support level at 1.0800 being cleared, any gains could be limited to this level where resistance could now be established. A continuation to the downside will see the EURUSD push lower towards the support level at 1.0700.

USDJPY intra-day analysis

USDJPY (111.27): USDJPY closed bearish yesterday, but price action is looking bullish in the near term. On the 4-hour chart, however, the Stochastics are currently in the oversold levels but with prices supported above 110.76 - 110.70, the downside is limited.

A continuation to the upside in USDJPY will see prices testing 112.00 resistance level, following which expect further continuation towards 113.78 - 114.00. In the near term, USDJPY could be range bound within 112.00 and 110.76 with a breakout from this level likely to give further direction in the near term.

XAUUSD intra-day analysis

XAUUSD (1249.60): Gold prices remained flat with the precious metal seen consolidating near the 1250 level yet again. On the 4-hour chart, price action has formed a lower high below 1262.50 with prices moving within a broadening wedge pattern. In the near term, gold prices could see another modest rebound to the upside towards 1255.85 - 1256.00 following which we can expect to see further declines towards 1220.00 at the very least. A daily close above 1255.85 - 1256.00 could, however, invalidate the bearish bias.


Source link  
Japan's Q2 GDP rebounds by 3.0%

The latest revised GDP numbers from Japan showed that the economy advanced faster than previously expected. The data on the final reading...

Dollar continues to slide

The greenback continued to weaken against some of the major currencies yesterday amid a quiet trading day...

Dollar looks to a new week

The US dollar index will be looking to a fresh week with the possibility of a rebound following last week's sharp declines..


US dollar rebounds as investor nerves cool

The US dollar managed to stem the strong declines after developments from Washington...

EURUSD unstoppable at a 6-month high

The euro surged ahead to a fresh 6-month high earlier this morning as the price was seen tradingþ...

Will UK's wages catch up?

The US dollar extended declines strongly for another day as economic data...


US dollar stays subdued

The latest monthly manufacturing activity report released by the New York Fed yesterday...

US dollar slips on soft inflation figure

The US dollar fell sharply on Friday after data showed that consumer price index rose 0.2%...

US dollar looking weaker

Economic data from the US continued to remain robust with the initial jobless claims declining to 236,000 for the week...


In the past 24 hours Bitcoin has lost -0.2% and reached $6578.61771346. 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 -7.95% and is now at $209.367337686. 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: