EUR/USD is steady in Tuesday trade, as the pair remains at high levels. In the European session, the euro is trading in the mid-1.38 range. German Trade Balance dipped to a three-month low and was short of the estimate. In the US, today’s highlight is JOLTS Job Openings. The markets are not expecting much change in the February release.
Here is a quick update on the technical situation, indicators, and…Continue
Added by Yohay Elam on March 11, 2014 at 11:33am — No Comments
The ECB convenes to to make its monthly rate decision as the level of inflation remains low, but is it low enough for using the “nuclear option” of setting a negative deposit rate? Probably not. Nevertheless, the ECB could still take action in the face of strong exchange rate. In addition, there is a “wild card” of the ECB’s 2016 staff projections.
Here is the background, the options and 4 scenarios for the ECB decision.
The level of…Continue
Added by Yohay Elam on March 5, 2014 at 9:56am — No Comments
EUR/USD has steadied on Tuesday, as the pair trades in the mid-1.37 range in the European session. The standoff in the Ukraine continues to rattle markets around the world. On Monday, US Manufacturing PMI improved in February and beat the estimate. Tuesday has little action on the release front, with just three releases on the schedule. Spanish Unemployment Change posted a small decline, surprising the markets which had…Continue
Added by Yohay Elam on March 4, 2014 at 11:28am — No Comments
EUR/USD began the trading week with a gap lower from the highs it reached on Friday, as the situation in the Ukraine continues deteriorating and is currently taking away the focus from the ECB decision later in the week. The Russian army is effectively in control of the Crimea peninsula and could advance further into other eastern regions of the Ukraine. The large outstanding debt the country has worry many. A long list…Continue
Added by Yohay Elam on March 3, 2014 at 9:19am — No Comments
EUR/USD had an excellent week, breaking the double top and reaching a 2 month high. Is this the beginning of a big rally or just a short lived move? Manufacturing and Services PMI’s, German Industrial Production and the all important rate decision are the highlights of this week. Here is an outlook on the major events and an updated technical analysis for EUR/USD, now on higher…Continue
EUR/USD is screaming higher after stronger than expected inflation numbers. CPI is at 0.8% and core CPI at 1%. Strong German numbers gave the euro early support, but reports about a Russian invasion of the Crimea peninsula weigh. As implications for the ECB decision are digested, the focus moves again to the US with the second estimate of GDP and other important indicators. A strong end to the week and month are…Continue
Added by Yohay Elam on February 28, 2014 at 10:30am — No Comments
After an uneventful week, EUR/USD lost ground on Wednesday and remains under pressure in Thursday trade. In the European session, the pair is trading in the mid-1.36 range. The dollar was broadly stronger as US New Home Sales jumped in January. In Thursday news, German Unemployment Claims beat the estimate. Over in the US, we’ll get a look at Core Durable Goods Orders and the all-important Unemployment Claims. As well,…Continue
Added by Yohay Elam on February 27, 2014 at 12:08pm — No Comments
EUR/USD has looked listless all week and we’re seeing more of the same on Wednesday, as the pair continues to trade in the mid-1.37 range. German Consumer Confidence continues to rise and hit its highest level in seven years. In the US, today’s highlight is New Home Sales. The markets are braced for a weaker reading than last month.
Here is a quick update on the technical situation, indicators, and market…Continue
Added by Yohay Elam on February 26, 2014 at 11:23am — No Comments
EUR/USD started the trading week on a positive note, riding on better than expected data. However, the common currency showed how vulnerable it is to the topic of negative deposit rates, as one comment sent it back down, setting a double top.
Here is a quick update on the technical situation, indicators, and market sentiment that moves euro/dollar.
Added by Yohay Elam on February 24, 2014 at 1:06pm — No Comments
GBP/USD reversed directions last week, shedding about 150 points. The pair closed the week slightly above the 1.66 line. This week’s highlight is Second Estimate GDP. Here is an outlook for the main events moving the pound, and an updated technical analysis for GBP/USD.
British CPI came in just under the 2.0% inflation and Claimant Count Change continues to impress. US releases hit…Continue
Added by Yohay Elam on February 23, 2014 at 4:41pm — No Comments
The euro continues to trade at high levels, asEUR/USD remains above the 1.37 on Friday, The euro managed to shrug off weak data out of the Eurozone on Thursday, as PMIs did not impress and inflation indicators posted declines. In the US, Unemployment Claims and Core CPI met expectations, but the Philly Fed Manufacturing Index slumped to a nine-month low. Friday is quiet on the release front, with the markets keeping a…Continue
Added by Yohay Elam on February 21, 2014 at 9:40am — No Comments
EUR/USD has posted modest losses in Thursday trade. In the European session, the pair is trading just shy of the 1.37 line. It’s a very busy day on both sides of the pond. There wasn’t much to cheer about in the Eurozone, as PMIs were mostly weak, and German and French inflation indicators posted declines. In the US, there are three key events on the schedule – Core CPI, Unemployment Claims and the Philly Fed…Continue
Added by Yohay Elam on February 20, 2014 at 11:36am — No Comments
EUR/USD is showing little movement in Wednesday trading, as the euro continues to look sharp after gains on Tuesday. In Wednesday’s European session, the pair is trading in the mid-1.37 range. Today’s sole release out of the Eurozone is the German 10-year Bond Auction. It will be a busy day over in the US, with the release of two key events – Building Permits and the Producer Price Index. As well, we’ll get a look at the…Continue
Added by Yohay Elam on February 19, 2014 at 11:15am — No Comments
EUR/USD is steady in Tuesday trading, as the pair trades above the 1.37 line in the European session. The first releases of the week were dismal, as Eurozone and German ZEW Economic Sentiment faltered badly in January and were well off the estimates. Eurozone Current Account continues to impress, beating the estimate for a third straight time. It’s a quiet day in the US, with no major events on the schedule. Today’s…Continue
Added by Yohay Elam on February 18, 2014 at 11:16am — No Comments
EUR/USD started the week with a small move to the upside, but is not going very far. European finance ministers are meeting and one of the topics is Greece. Unsurprisingly, the country is facing another financing gap despite reaching a primary surplus. Angela Merkel’s coalition is facing some issues. In the meantime, the USD is sliding ahead of a bank holiday.
Here is a quick update on the technical…Continue
Added by Yohay Elam on February 17, 2014 at 11:22am — No Comments
The British pound was red hot last week, asGBP/USD jumped about 340 points. The pair closed the week at 1.6744. This week’s highlights include CPI, Claimant Count Change and Retail Sales. Here is an outlook for the main events moving the pound, and an updated technical analysis for GBP/USD.
In the UK, comments from Mark Carney that interest rates could be raised in 2015 sent the…Continue
Added by Yohay Elam on February 16, 2014 at 11:26pm — No Comments
EUR/USD managed to move higher within range as economic growth trumped inflation fears. Is a break out coming soon? German economic sentiment and purchasing managers’ indices are among the main market movers of the week. Here is an outlook on the major events and an updated technical analysis for EUR/USD.
Europe’s locomotive …Continue
EUR/USD continues its climb after taking a break. The important GDP releases came out better than expected, and allow the common currency to tick higher after the big move higher seen yesterday. Deflation worries were put aside. Consumer confidence in the US is the main event to close the week with. Where will the pair end the week?
Here is a quick update on the technical situation, indicators, and market sentiment that…Continue
Added by Yohay Elam on February 14, 2014 at 9:38am — No Comments
EUR/USD has posted gains on Wednesday, recovering the losses we saw on Wednesday. In the European session, the pair is trading in the high-1.36 level. German Final CPI declined, hitting a three-month low. In the US, it will be a busy day with three key releases – Core Retail Sales, Retail Sales and Unemployment Claims.
Here is a quick update on the technical situation, indicators, and market sentiment…Continue
Added by Yohay Elam on February 13, 2014 at 10:25am — No Comments
EUR/USD is listless on Wednesday, as the pair trades in the mid-1.36 level in the European session. Eurozone Industrial Production looked weak, posting its third decline in four months. Later in the day, ECB head Mario Draghi will speak at a banking conference in Brussels and the markets will be all ears. In the US, it’s a quiet day, with just three releases on the schedule. On Tuesday, Janet Yellen testified…Continue
Added by Yohay Elam on February 12, 2014 at 11:05am — No Comments