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Day: December 21, 2017
December 212017
AUD/USD in a Tight Bullish Pennant on Daily Chart
AUD/USD is currently consolidating inside a perfect example of a bullish pennant pattern. The daily chart shows that after four days of rally, the currency pair stalled and is now trading in a narrowing range for five days in a row. The pennant itself is marked with the yellow lines on the image below. The cyan line is my entry level in case of a bullish breakout. It is placed at 10% of the pennant’s width above the upper border. […]
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December 212017
EUR/USD Flat After Mixed US Data
EUR/USD was flat today following mixed US data. While the currency pair halted its rally that it has started at the beginning of the week, so far EUR/USD was still trading 1.1% higher on the week. US GDP rose at the annual rate of 3.2% in Q3 2017 according to the final estimate. Analysts had expected the same 3.3% increase as in the preliminary estimate. GDP grew by 3.1% in Q2. (Event A on the chart.) Philadelphia […]
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December 212017
Canadian Dollar Rallies Against US Dollar on Canada and US Data
The Canadian dollar today rallied massively against its US counterpart after Canada’s CPI print for November was recorded at the highest level since January. The loonie’s rally against the greenback was also boosted by the release of third quarter US GDP growth data, which missed expectations. The USD/CAD currency pair lost over 100 points after the US and Canadian releases to drop from a daily high of 1.2840 to a low of 1.2719. […]
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December 212017
British Pound Rallies Briefly on UK Public Sector Finances Report
The British pound today rallied higher against the US dollar after the release of the UK public sector finances report for November. The pound was lagging against the greenback during the Asian session due to the recovery in US Treasury yields, which slowed down the demand for the pound. The GBP/USD currency pair rallied by over 35 points from a daily low of 1.3350 to hit a high of 1.3387 on the public finances report, but had retraced most […]
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December 212017
NZ Dollar Fails to Keep Gains Caused by Solid GDP
The New Zealand dollar edged lower today despite the GDP report released overnight that showed solid growth of the nation’s economy. The currency jumped sharply immediately after the release, but was gradually moving lower since then, and is now trading slightly below the opening level against its most-traded rivals. New Zealand gross domestic product rose 0.6% in the September quarter from the previous three months, in line […]
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December 212017
Yen Moves Lower After BoJ Doesn’t Mention End of Stimulus
The Japanese yen slipped today after Haruhiko Kuroda, Bank of Japan Governor, disappointed markets as he failed to mention plans to end aggressive monetary accommodation. As was widely expected, the BoJ kept its main interest rate at -0.1% and the size of annual asset purchases at ¥80 trillion. Considering the previous comments from Kuroda about dangers of keeping monetary policy extremely accommodative for a long time, market participants were expecting that […]
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