Friday 31st January: Dollar Index Tests Daily Support at 97.86; Eyes Resistance at 98.45.
The Bank of England left UK interest rates on hold. The Bank also cut its growth forecasts and downgraded its expectations for productivity growth, in a sign that the UK economy has suffered from Brexit uncertainty.
Thursday 30th January: Pound Hesitant Ahead of BoE Rate Decision.
Cable marginally firmed in US trade following the Federal Reserve keeping its benchmark interest rate steady, lifting price north of the key figure 1.30 on the H4, Quasimodo support at 1.2988, as well as a 78.6% Fibonacci retracement at 1.2884.
Wednesday 29th January: Dollar Trades South of 98.00 Ahead of FOMC.
Scoring highs of 98.16, the US dollar index continued to explore higher ground Tuesday, while on the data front we had mixed US durable goods before better-than-expected US consumer confidence.
Tuesday 28th January: Coronavirus Weighs on Risk Sentiment; Increased Demand for Safe-Haven Assets.
Overall risk aversion, coupled with consequences of the Coronavirus, guided AUD/USD lower Monday, erasing more than 60 points and closing towards the bottom of its 0.6818/0.6752 range.
Monday 27th January: Weekly Technical Outlook and Review.
Europe’s single currency glided to a fourth consecutive weekly loss vs. the buck in recent trade, as sellers strengthened their grip south of long-standing channel resistance, drawn from the high 1.1569.
Friday 24th January: Pound Trades North of 1.31 Ahead of Key UK Manufacturing Data.
Relatively subdued, sterling mildly dipped lower Thursday and refreshed daily lows around the 1.31 mark. As the market assesses the possibility of a BoE rate cut, focus shifts to todays UK flash PMI metrics, with consensus forecasting a rise across the board.
Thursday 23rd January: US Dollar Index Retesting Channel Resistance-Turned Support (99.67); Eyes Nearby Resistance at 97.86.
Key risk events today: EUR Main Refinancing Rate, Monetary Policy Statement […]
Wednesday 22nd January: USD/CAD Consolidates Ahead of BoC.
Europe’s single currency concluded the day a shade lower against the US dollar, despite EUR/USD gleaning some traction via an encouraging German/Eurozone ZEW survey earlier in the session.
Tuesday 21st January: Technical Outlook and Review.
Key risk events today: BoJ Outlook Report and Monetary Policy Statement; […]
