Weekly EUR/USD Outlook: 2017,April 09 - April 16 (based on the article)
EUR/USD made its way to lower ground, struggling to gain ground. The week including Good Friday features business surveys and also some inflation figures. Here is an outlook for the highlights of this week
Dollar Index - "Next week, a speech from Fed Chair Janet Yellen is likely to reiterate an intent to press on with stimulus withdrawal and CPI data is expected to show a pickup in core inflation. That may keep the greenback marching higher as traders weigh the US policy path against standstill elsewhere in the G10."
GBP/USD - "Market participants may put increased emphasis on the fresh rhetoric coming out of the FOMC with Chair Janet Yellen scheduled speak next week, and the greenback may stage a larger advance over the days ahead should the central bank head show a greater willingness to implement higher borrowing-costs over the coming months."
AUD/USD - "The intertest rate backdrop is that US rates will continue to rise while their Aussie counterparts are going nowhere this year, and possibly into next (protracted hostilities involving the US in Syria could change all this, of course). The Reserve Bank of Australia has said little which might challenge this view. More importantly, it put its worries about a stronger currency front and center in the minutes of its last monetary policy conclave. This is not an environment conducive to a higher Australian Dollar."
USD/CNH - "Among all the event risks, exports and imports reads could have a greater direct impact to the Dollar/Yuan than others. China has been shifting from an export-driven economy to domestic-consumption-driven. However, this will need to take a long process; so far, Chinese producers still largely rely on international demand. In the U.S.-China leaders meeting, Trump told that the U.S. has “made progress” in the relationship with China and “lots of very potentially bad problems will be going away”. The bilateral trade issue is considered to be one of those “bad problems”. For China, avoiding major conflict with its U.S. counterpart will give it more time to upgrade the manufacturing industries that still heavily depend on exports, and in turn, will help to stabilize the economic growth when a slowdown is already seen."
Crude Oil - "The oil market also faces a couple of important data releases next week which could push the market if tensions in Syria ease. The monthly OPEC report is released on Wednesday April 12, providing traders with a detailed analysis of key developments in world oil demand, supply and the closely watched oil market balance. The US EIA crude oil inventories are also released on Wednesday, ahead of the IEA oil market report on Thursday and the Baker Hughes oil rig count on Friday April 14."
CAC 40 - daily bullish with 5,132 resistance level to be testing (based on the article)
Daily price is located above Ichimoku cloud in the bullish area of the chart. The bullish trend is going to be continuing with ascending triangle pattern together with 5,132 level to be broken, otherwise - bullsh ranging within the levels.
Intra-Day Fundamentals - EUR/USD, NZD/USD and Hang Seng Index (HSI): Fed Chair Yellen Speaks
2017-04-10 21:10 GMT | [USD - Fed Chair Yellen Speaks]
[USD - Fed Chair Yellen Speaks] = The speech at the University of Michigan.
From wsj article - "Federal Reserve Chairwoman Janet Yellen Sees Monetary Policy Shifting":
EUR/USD M5: range price movement by Fed Chair Yellen Speaks news events
NZD/USD M5: range price movement by Fed Chair Yellen Speaks news events
Hang Seng Index M5: range price movement by Fed Chair Yellen Speaks news events
GBP/USD Intra-Day Fundamentals: U.K. Consumer Price Index and range price movement
2017-04-11 09:30 GMT | [GBP - CPI]
if actual > forecast (or previous one) = good for currency (for GBP in our case)
[GBP - CPI] = Change in the price of goods and services purchased by consumers.==========
From official report:
GBP/USD M5: range price movement by U.K. Consumer Price Index news event
GBP/USD Technical Analysis: bullish ranging near bearish reversal level (based on the article)
Daily price is located near and above Ichimoku cloud for the ranging within the following support/resistance levels:
"Cable responded to the 50% retracement of the March advance at 1.2362 this week with the rebound now approaching initial resistance targets. The broader focus remains weighted to the topside while above 1.23 / the lower parallel (blue) with a breach above the monthly open needed to validate a more meaningful reversal targeting confluence resistance at the 200-day moving average at ~1.2630s & key resistance at 1.2675-1.2706."