The Australian dollar is trading lower against most of its major counterparts early on in today’s session following the release...
The EURUSD is holding well above the resistance at 1.10655 formed by the neckline of the October 2019 double top in Monday’ s New York trading session. The pair had completed the measured move from the breakdown of this neckline to confirm the double top, but has since reversed upwards to record gains in three trading sessions to take the pair to intraday highs of 1.1071.
The latest Commitment of Traders (COT) report for the week ended November 12 has been released by the CFTC. According...
USDCAD trades slightly higher after Friday’s sharp correction from 1.3251 as a result of macro data from US that pressured USD across the board. The US retail sales for October registered at 0.3% above forecasts of 0.2%; the Retail Sales Control Group came in at 0.3% in line with analysts forecasts. The Empire Manufacturing for November came in at 2.90, below expectations of 6.00.
USDJPY trades 0.27% higher at 109.03 in a fresh attempt to regain the 109 mark as the pair continues the consolidation close to five-month highs as investors run away from safe-haven assets on positive signs in China-US trade talks.
The EURGBP is trading lower today on the recent economic projections for the Eurozone by the Bundesbank. In its monthly economic report, the Bundesbank (Germany’s Central Bank) said that economic slowdown in Germany could extend into the fourth quarter of 2019, capping off a miserable year for Europe’s number 1 economy.
AUDUSD trades in just 13 pips trading range after Moody’s credit rating reduced Australian growth forecast to 2.2% and the unemployment rate to 5% for 2020. In US on Friday macro data failed to impress investors, the Empire Manufacturing for November came in at 2.9, below expectations of 6.0. Advance Retail Sales for October rose 0.3%, beating the expected 0.2%, while Retail Sales Less Autos for October fell 0.2%, below forecasts of 0.4%.
USDTRY gives up 0.21% at 5.7326 registering loses for fourth consecutive trading session. The Unemployment rate in Turkey increased to 14.0% in August from 11.1% in the same month of the previous year. It was the highest jobless reading since March. Turkey's inflation rate dropped to 8.55% in October from 9.26% in September. That was the lowest reading since December 2016. Turkish Exports climbed from previous $14.44B to $15.66B in October supported by weaker Turkish lira.
The British pound is starting this week with a bang! EURGBP is trading at new six-month lows as European markets...
Investor sentiment seem to have improved enough to push equities and higher-yielding currencies higher to start this week’s trading. The...