|Day's Range||97.88 - 98.04|
|52 Week Range||96.33 - 98.67|
In our opinion, there are a number of elements to the unfolding global market economics that play into our future expectations. China becomes one of the biggest unknowns simply because we believe the best information we have at the moment is shaded and hidden in terms of true values. Let’s take a minute to discuss a few of them…
June U.S. Dollar Index traders should keep an eye on the Euro since it is heavily weighted in the index. The Dollar Index could weaken if the EUR/USD takes out 1.1164 and strengthen if the EUR/USD breaks through 1.1152.
Our research team, at www.TheTechnicalTraders.com, have been pouring over the charts and data to identify what is likely to happen over the next 60+ days in terms of global stock market volatility vs. the US stock market expectations.
Robust growing USD Index pushed down all its major rivals. Hence, EUR/USD pair plunged despite positive Euro-specific data. Meanwhile, the Cable continued to douse in fall amid Brexit chaos.
Based on the earlier price action and the current price at 97.780, the direction of the June U.S. Dollar Index the rest of the session is likely to be determined by trader reaction to the downtrending Gann angle at 97.850.
Traders are taking advantage of a lull in news flow stemming from US-China trade tensions to send Asian stocks higher.
A relatively quiet economic calendar leaves Brexit and trade war chatter in focus. Is the trade spat about to get worse and can Theresa May deliver?
Loonie remained seesawed during the day. The Aussie pair continued plunge rally for four days in a row. The Fiber lost hold of its early consolidation mode and slipped to weekly lows near 1.1173 levels.
Based on the early price action, the direction of the June U.S. Dollar Index the rest of the session is likely to be determined by trader reaction to the 50% level at 97.450.
Buying sentiment towards the Dollar took a hit on Wednesday afternoon after US retail sales unexpectedly declined in April for the second time in three months.
The Aussie Dollar touches sub-$0.69 as more stats disappoint. Chatter on trade and a sparse economic calendar will be in focus today.
The Greenback slipped drastically over poor US April Retail Sales figures. USD/CNY pair got elevated earlier the day underpinned weaker-than-expected Chinese data.
Based on the current price at 97.470, the direction of the June U.S. Dollar Index the rest of the session is likely to be determined by trader reaction to the short-term 50% level at 97.448.
The early Wednesday movements in Asia suggest that investors are tepidly putting some risk back on the table, even as uncertainties surrounding US-China trade tensions continue to cast a cloud over market sentiments.
Economic data out of China set the tone early. How much of an impact has the trade war really had on both economies? Are we about to find out?
The Brexit deadlock continued to trouble the Cable. Crude prices jumped for the second time in this week following a drone attack on the Saudi State Oil Company.
A sense of calm in the forex markets early on as the U.S futures point to a positive open in the equity markets. It could all change in a second…
As a response to the recent US additional tariffs, the Chinese today retaliated by imposing tariffs on over $60 Billion of US imports. The investor sentiment dropped.
Traders should be looking for comments on whether Clarida feels a prolonged trade dispute will have a negative effect on the U.S. labor market and inflation.
It’s risk off early on as the markets respond to the weekend chatter on trade talks and Asia wakes up to yet another week without a deal…
Bullish Canadian Employment data made the Loonie drop 0.74% within a matter of minutes. The Fiber attempted to breach the robust 1.1252 levels during the day. UK March YoY GDP was in-line at 0.5%.
Gold bulls fought incredibly hard to keep prices above the $1280 support level this week, as uncertainty over US-China trade talks simulated the flight to safety.
The Loonie topped reaching 1.3500 levels. China stated readiness over trade tariff hikes, supporting the USD/CNY pair. The USD/NZD took a drop and reached 1.5174 levels.
Economic data will likely take a backseat once more, with the U.S and China set to resume trade talks today. Updates from talks will drive the markets today.