US dollar slips on soft inflation figure

15 May, 2017

The US dollar fell sharply on Friday after data showed that consumer price index rose 0.2% on a month over month basis in April. This was a modest improvement following the 0.3% decline in March. Economists polled were expecting inflation to rise 0.3% instead. Retail sales numbers were also soft, rising 0.4%, less than the forecasts of 0.6% increase. March's retail sales numbers were revised from -0.2% to 0.1%. The US dollar was seen trading subdued on today's open. Economic data released so far showed China's industrial production rise 6.5%, less than the expected 7.0%, while retail sales rose 10.7%, slightly below forecasts of 10.8%. Later in the day, the NY Fed's Empire State Manufacturing index is coming up with economists’ expecting the manufacturing activity in the New York area to rise to 7.2 after slipping to 5.2 the month before. Manufacturing activity in the New York area was seen weakening for the past two consecutive months.

EURUSD intraday analysis

EURUSD (1.0930): EURUSD brushed past the 1.0900 price level on Friday, and further gains are likely to come by if support is seen being established at 1.0900. This would potentially keep the upside target towards 1.1000 in sight. However, a continuation without a pullback could see EURUSD test 1.0950 where resistance could be formed. This would mark a pullback from the recent declines and could signal a continuation towards 1.0850 followed by 1.0750.

GBPUSD intraday analysis

GBPUSD (1.2905): The British pound gapped lower this morning, opening at 1.2801 with price posting strong gains, currently trading at 1.2899 and recovering the past losses. On the 4-hour chart, the test to 1.2800 comes as a retest of the upside break-out from the bullish flag pattern that emerged three weeks ago. With prices testing 1.2900 level, further upside could be seen coming but watch for the familiar resistance at 1.2988 - 1.2965.

XAUUSD intraday analysis

XAUUSD (1230.86): Gold prices have been posting a modest recovery for the past three days after the price fell to a two month low at 1214.24. The upside recovery could continue if gold posts a higher low on the 4-hour chart. The downside correction could see price retest the support at 1221.47 where a higher low could confirm the upside in price. Resistance is seen coming in at 1250.00, although a continuation to the upside could see further gains pushing gold prices to 1263.00 and 1274.00.

Source link  
Retail Sales See Biggest Drop

Yesterday was not great for the Fed as the latest US data added to fears of a growth slowdown. December Retail Sales fell 1.2% over the month, wildly...

Non-manufacturing activity slips down

The services sector in the United States expanded at a slower pace in January. The Institute of Supply Management's non-manufacturing PMI...

Slowdown Worries Plague Eurozone

The Eurozone's economy got off to a sluggish start in 2019. Latest forward-looking indicators showed as some of the Eurozone's major economies...

UK Trade Deficit Widens On Brexit

Alongside the weaker than anticipated GDP print released yesterday, GBP was weighed down by data which showed a widening of the UK trade...

New Zealand Unemployment Rate

The latest unemployment report from New Zealand showed a disappointing performance from the labor market for the period. Data released...

Further Round Of US/China Trade Talks

Traders will be hoping for some positive headlines this week around the ongoing US/China trade talks, following the disappointing announcement...

RBNZ to keep rates on hold

The week ahead will see the RBNZ holding its monetary policy meeting. Interest rates in New Zealand should remain unchanged at this week's meeting...

Fourth Quarter NZ Employment

We could have some volatility in NZD pairs coming up on Wednesday at 20:45 CET (or 14:45 CET) with the release of a series of unemployment...

U.S. hiring continues at a steady pace

The latest monthly jobs report from the United States showed that the economy posted a steady pace of job growth during January. The data comes...

In the past 24 hours Bitcoin has lost -0.4% and reached $3625.51196641. Open your trading account with the best cryptocurrency brokers on special terms today.

In the past 7 days the EUR/USD pair has lost -0.5573% and is now at $1.1277. Start trading and making money on Forex today.

In the past 7 days Ethereum has gained 6.87% and is now at $127.418643695. Have the most popular cryptocurrencies compared online 24/7.

Top Brokers offering Forex Market Analysis

Forex Currencies Forecasts

Top 10 Forex Brokers 2019

# Broker Review
5FIBO GroupFIBO Group84%
10FP MarketsFP Markets70%