|Day's Range||1.132 - 1.135|
|52 Week Range||1.1223 - 1.2478|
Euro zone headline consumer inflation slowed slightly in January because of a sharp deceleration of energy price growth, but core inflation watched closely by the European Central Bank in policy decisions edged slightly higher, data showed on Friday. The European Union's statistics office Eurostat said consumer prices in the 19 countries sharing the euro fell 1.0 percent month-on-month in January for a 1.4 percent year-on-year rise, in line with previous estimates and market expectations. Without the volatile components of energy and unprocessed food, or what the ECB calls core inflation, prices fell 1.2 percent month-on-month for a 1.2 percent year-on-year increase, accelerating from 1.1 percent in annual terms in December.
The pair witnessed a bit of selling from the 1.1350 level in Thursday’s session, as it reached down towards the 1.1320 level. The area above is expected to remain noisy and volatile as the resistance extends up to the 1.14 level. Short term pullbacks in the market will continue to attract a lot of attention and also the Federal Reserve’s soft attitude towards rate hike will support the pair going higher. …Read MoreGBP/USD
The pair is to continue range bound action for a majority of the day but likely to see a change in momentum post-speech by central bank members later in the day.
A choppy start to the day sees the Aussie Dollar on a rollercoaster. The focus will be on economic data out of the Eurozone, trade talks and Brexit.
The dollar was steady and on track for its first weekly loss in a month in early trading in Europe Friday, although it had recovered most of the ground it lost Thursday in reaction to some weak numbers from the U.S. manufacturing sector.
Investing.com - The U.S. dollar edged up on Friday in Asia even after a set of weak U.S. data released overnight. The Aussie Dollar was little changed after sliding to a 10-day low yesterday.
The Euro continues to grind overall, as we see a lot of volatility around the 1.1350 level. This is an area that should continue to be very noisy, due to microstructure. At this point, I think the larger consolidation needs to be paid attention to though.
Investing.com - The U.S. dollar traded near session highs Thursday, despite a slew of negative U.S. economic reports pointing to signs of slowing growth in the underlying economy.
Based on the early price action, the direction of the EUR/USD on Thursday is likely to be determined by trader reaction to the downtrending Gann angle at 1.1364.
The greenback recovered from its sudden fall after disappointing economic data on Thursday raised concerns about the strength of the U.S. economy and supported the Federal Reserve’s decision to hold rates steady for the foreseeable future. The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, fell to 96.239 after the data before recovering to 96.391 as of 10:30 AM ET (15:30 GMT). New orders for durable goods, excluding volatile items, fell unexpectedly in December, while business activity in the mid-Atlantic region declined to its weakest level since May 2016, according to the Philadelphia Fed's monthly survey.
The pair is currently stationed around the 1.1350 level as there are a lot of developments around the market and is also looking for clarity on the future momentum. The weak momentum around the USD is likely to support the EURO to reach higher, and if it breaks above 1.15 level, it will be extremely bullish and will attract many buyers.
The pair trades range bound as traders await macro data updates for short term profit opportunity and ECB Preat speech for directional cues.
Economic indicators out of Japan this week have proven to be more of an economic alarm bell than an indicator. What’s next for the BoJ?
Economic data out of Japan spells more trouble, with a particularly busy economic calendar placing focus on the EUR and USD.
Investing.com -- The euro turned higher against the dollar in early trading in Europe Thursday, as purchasing manager indices from France and Germany signalled that the euro-zone economy may be bottoming out after its slowdown at the end of 2018.
The Euro went back and forth during the trading session early on Wednesday, as we await the Federal Reserve meeting minutes. Beyond that, we also have the US/China trade relations discussions going on, and that of course will affect what’s going on with the dollar itself.
Investing.com - The U.S. dollar pared some losses against a basket of major currencies Wednesday, even as the minutes from the Federal Reserve strengthened expectations the central bank will leave interest rates on hold this year.
Based on the earlier price action, the direction of the EUR/USD on Wednesday is likely to be determined by trader reaction to the uptrending Gann angle at 1.1354.
Investing.com - The greenback was flat on Wednesday, as investors waited for the Federal Reserve to release the minutes from its latest monetary meeting.
The Euro initially pulled back during Tuesday’s session but received strong support around the 1.13 area, which helped to rally higher. The pair is likely to continue its long-term consolidation which now ranges between the 1.12 and 1.15 level. If the pair can clear above the 1.1350 level, then it will be a bit positive for the market and could reach another 100 pips higher. …Read MoreGBP/USD
EURUSD pair trades flat post overnight rebound on dollar’s weakness as investor took cautious stance awaiting Fed meeting minutes for directional cues.
Trade data out of Japan suggests more doom and gloom as trade negotiations. Brexit chatter and the FED minutes will be in focus through the day.
Investing.com -- The dollar was lower against the euro and the British pound in early trading in Europe Wednesday as a fall in U.S. Treasury yields reduced its attractiveness amid expectations of dovish news on interest rates from the Federal Reserve.