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To begin with, a few words about the forecast for the previous week, which was a week full of speeches by senior Central Bankers globally. Forex trends were influenced by the ECB head Mario Draghi, as well as his colleagues from the Bank of England Mark Carney and Bank of Japan Haruhiko Kuroda...
EURGBP- The cross closed lower the past week after rejecting higher prices. This development now leaves risk lower as we enter a new week. Support lies at the 0.8700 level where a violation will turn focus to the 0.8650 level. A break will expose the 0.8600 level. Resistance resides at the 0...
USD/CHF moved to the upside during the American session amid a decline of the Swiss franc across the board. The pair climbed to 0.9597, hitting a fresh highs while other crosses of the forex market remained sideways, in minor ranges...
According to analysts from Danske Bank, it is too early for a discussion about the exit strategy from the Bank of Japan. They see EUR/JPYmoving toward 137 in a year from now. Key Quotes: “We see any discussions regarding an exit from unconventional policy by the Bank of Japan (BoJ) as premature...
Although the earlier data from the euro area showed that the inflation increased more than expected in June (1.3% vs. 1.2% YoY), the shared currency struggled to gather further strength against the USD. As we approach the end of the last trading day of June, the EUR/USD pair is trading at 1...
Cable’s near-term outlook stays neutral/bearish, according to Chief FX Strategist at Socotiabank Shaun Osborne. Key Quotes “Intraday price action looks a little soft again with Cable struggling to hold above 1.30...
The shared currency stays within the daily range following releases in the US docket, with EUR/USD navigating around the 1.1400 handle. EUR/USD upside still capped near 1.1450 The pair keeps the daily correction lower unchanged after US personal income expanded more than expected in May, up 0...
Switzerland's KOF Leading Indicator reversed the prior month’s weak read surging to 105.5 (from 102.0 in May). The jump nearly covered last month’s decline and highlighted that the upwards trend indicates near term outlook remains solid...
Unexpectedly, China's NBS PMI surprised higher providing evidence that the China growth story remains undervalued and there is still solid external demand. China's June NBA manufacturing PMI increased to 51.7 above 51.0. The good data was driven by new orders and higher production readings...
Daily economic digest from Forex.ee Stay informed of the key economic events Friday, June 30th The EUR/USD pair broke out of its consolidation phase to the downside in early Europe, stepping away from the region of its 14-month highs, marked yesterday at 1.1445 level...
Oil prices continue to recover. The rise of the last days has become the longest since April. The price of Brent crude is growing for the seventh consecutive session. Prices received additional support from data on the reduction of oil production in the US last week by 100,000 barrels per day...
EUR/USD resumed the upside during the American session as the spread between US and European bond yields narrowed further and amid a decline in equity prices in Wall Street. The pair reached a new 1-year high at 1.1444 and remains near the top, holding a strong bullish tone...
Currently, USD/CHF is trading at 0.9563, down -0.33% on the day, having posted a daily high at 0.9601 and low at 0.9558. USD/CHF is down to test a key support area in a continuation of the broader bearish trend from the 1.0340's and a weekly double top area...
Analysts at Nomura explained that among G4 central bank chiefs, Governor Kuroda's stance has not materially changed. Key Quotes: "JPY weakness against European G10 FX is in line with our view of monetary policy divergence, and the EUR/JPY appreciation trend may continue in the medium term...
The USD/JPY pair, which lost its bullish momentum near the 113 handle in the early NA session, came under a renewed selling pressure and fell below the 112 mark. As of writing, the pair is trading at 111.97, losing 0.28% on the day. The latest blow to the greenback came from the St...
Hello traders, Currently GBPUSD is in momentum ahead of the 2nd stage breakout, and vice versa will enter a period of consolidation. This image has thousands of words better than my explanation, and people who understand to work with : Support, Resistance and...
USDJPY: The pair continues to press higher as it saw price extension during Thursday trading today. On the downside, support comes in at the 112.00 level where a break if seen will aim at the 111.50 level. A cut through here will turn focus to the 111.00 level and possibly lower towards the 110...
Politics and BoE are filling the hard data void as markets leapt on apparent shifts in BoE towards accommodation reduction, suggests Tim Riddell, Research Analyst at Westpac...
The upside momentum around the single currency now seems to have lost some vigour, prompting EUR/USD to slip back to the 1.1400 neighbourhood...
