2019-11-11 • Updated
Thursday American CPI data pulled the US dollar index below the psychological level at 95.50. Traders are looking for Retail Sales figure that will be out at 15:30 MT time. The forecast is weak, but if the actual data is greater than the forecast, the USD will have chances to recover.
The weakness of the US dollar has been pulling the euro up. Moreover, yesterday the market evaluated the statement of the European central bank as optimistic. The President of the ECB didn’t mention risks related to the emerging markets that boosted the European currency a lot. In case of the weaker USD, the pair will be able to break the resistance at 1.1711 and continue its upward movement to 1.1760. However, as we can see on the H4 chart, the level is really strong. So the USD should fall much further to let EUR/USD appear above 1.1711. If the USD recovers, EUR/USD may appear below 1.1680. The next support is at 1.1632.
The governor of the Bank of England will give a speech at 13:00 MT time. The British pound needs additional support to stick at highs it reached yesterday. There are risks of the pound’s fall, as the Bank of England wasn’t hawkish yesterday during its statement. The central bank worries about growing Brexit uncertainties. If the governor sounds hawkish today, the pound will get additional support to test the resistance at 1.3151. The resistance is strong as 100-day MA has been moving to this level. It will put additional pressure on the pair. If the governor doesn’t give optimistic comments on the economic conditions, there are risks of the pound’s weakness. The support lies at 1.3033.
During the Asian session on Wednesday, the USD/CAD pair rebounded after two days of losses, reaching around 1.3590. This uptick is fueled by a stronger US dollar and lower crude oil prices, which put pressure on the Canadian dollar. The decline in Western Texas Intermediate (WTI) oil prices to approximately $80.70 is attributed to...
The Australian Dollar (AUD) rebounds on Monday, despite a slight dip in the US Dollar (USD) and higher US Treasury yields. Investors are eyeing Australian monthly Consumer Price Index (CPI) data for February and US Gross Domestic Product (GDP) for Q4 2023. The AUD gains momentum as the ASX 200 Index rises, especially in mining and energy sectors. Additionally, the Aussie...
Gold prices rose on Monday as the US Dollar weakened amidst speculation about potential Federal Reserve rate cuts starting in June. This weakened Dollar was partly due to improved risk sentiment pushing US Treasury yields lower. Despite facing challenges from declining yields, gold prices recovered to nearly $2,170 per troy ounce, driven by the Dollar's weakness. Federal Reserve Chair...
Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...
Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.
Your request is accepted.
A manager will call you shortly.
Next callback request for this phone number
will be available in
If you have an urgent issue please contact us via
Live chat
Internal error. Please try again later
Don’t waste your time – keep track of how NFP affects the US dollar and profit!
|
