NZD/USD rose above 0.6600 on Tuesday as the Kiwi outperformed on the back of strong New Zealand trade data and USD weakness. New Zealand’s monthly trade deficit saw a significantly larger-than-expected decline in December to below NZD 500m (vs. NZD 700m forecast) from previously above NZD 1tn, are helping the NZD to outperform on Tuesday. […]
Tag: Macroeconomy
AUD/JPY falls towards 78.78, bears expect a close below 80.70
The Australian dollar fell against the Japanese yen, down 0.77%. Market sentiment has improved on the session, but in the forex market safe haven pairs are higher. AUD/JPY bears expect a weekly/Friday close below 80.70, which would increase the chances of a drop towards 78.78. On Friday, as the North American session progresses, the AUD/JPY […]
Existing home sales fall 4.6% in December
Existing home sales fell 4.6% in December. The data did not lead to a reaction from the foreign exchange market. US existing home sales fell 4.6% in December, much worse than the expected 0.8% increase, according to data released by the National Association of Realtors on Monday. That pushed the 12-month moving average of sales […]
EUR/GBP hits 2-week highs at 0.8375 area, despite strong UK data
EUR/GBP rose to two-week highs on Tuesday in the 0.8375 area, despite strong US jobs data. Analysts interpreted the latest UK jobs release as reinforcing the likelihood of another BoE rate hike in February. A strong UK labor market report failed to lift sentiment towards sterling on Tuesday, with GBP among the session’s worst performing […]
GBP/USD cannot break above the 200 DMA and defend the 1.3700 level
British pound falls for the first time in the week, falls from weekly highs. Worse than expected, US economic data failed to boost sterling. Strong UK economic data failed to support the GBP. GBP/USD Technical Outlook: Failure at the 200 DMA opens the door for a drop towards the 100 DMA. On Friday, a set […]
USD / CAD claims the DMA of 200 and 1.2500 amid disappointing US economic data.
The Loonie loses ground against the dollar amid the release of worse-than-expected US economic data. US retail sales suffered the biggest contraction in 10 months. USD / CAD Technical Outlook: Bullish bias, although the pair is above the 200 DMA. The USD / CAD it rises during the American session after the December retail sales […]
AUD / USD closes in on 0.7300 amid risk aversion
The Australian dollar is up for the fourth day in a row. A risk-off market failed to stop the AUD’s rally, courtesy of the broad weakness of the US dollar. Market participants mainly ignored the mixed macroeconomic data from the US. The AUD advances as the US session rose 0.08%, courtesy of the continued selloff […]
USD / CAD falls below the 200 DMA as sellers watch the 1.2400 level
The selloff of the US dollar spreads despite US inflation exceeding 7%. Market participants expect the Fed’s first interest rate hike in March 2022. USD / CAD Technical Outlook: Bearish bias, but a daily close below the 200 DMA could keep CAD bulls in charge. During the American session, the selloff of the US dollar […]
Dollar struggles to shake selling pressure awaiting mid-level data
This is what you need to know to trade today Thursday, January 13: The dollar faced heavy selling pressure in the second half of the day on Wednesday after data released by the US Bureau of Labor Statistics showed the annual Consumer Price Index (CPI) rose to 7%, as expected. After losing more than 0.6%, […]
USD / JPY falls below 115.00
USD / JPY falls 100 pips in the American session. USD / JPY Technical Outlook: Bullish despite Wednesday’s pullback towards a four-month uptrend line. On Wednesday, after the Bureau of Labor Statistics (BLS) revealed that US inflation reached a level not seen since 1982, the USD/JPY plummets, trading at 114.60 at the time of writing. […]
