April 12, 2018 – The Plot

April 12
2018

EUR/USD Accelerates Decline After ECB Minutes

EUR/USD, which was holding ground yesterday, was falling today and accelerated its decline after the European Central Bank released minutes of its March policy meeting. (Event A on the chart.) The notes showed that policy makers were discussing repercussions of potential trade wars with the United States and voiced concerns about the strong currency. The current trading session was light on economic data from the United States, which had […]

April 12
2018

Euro Declines Against US Dollar on ECB Minutes and US Jobless Data

The euro today dropped significantly against the US dollar after the European Central Bank released the minutes of its latest monetary policy meeting. The single currency’s decline started in the Asian session due to the imminent risk of an escalation in Syria involving the USA and Russia. The EUR/USD currency pair today lost over 79 points to decline from a high of 1.2379 to trade at a low of 1.2299 at the time of writing. The currency pair’s decline started during the Asian […]

April 12
2018

EURUSD Looks To Bundesbank’s Weidmann For Hawkish Boost

EURUSD News and Talking Points – Bundesbank President Jens Weidmann speech about the euro-zone currency union may well spark a bid for the single currency. – EURUSD may be the best pair for euro bulls if US President Trump keeps to his word on Syria. The DailyFX Q2 Trading Forecasts for all major currencies, commodities […]

April 12
2018

Bullish Outlook for Oil Prices Amid Escalating Geopolitical Tensions

Oil Bulls in Driving Seat Crude oil futures have surged over 8% this week, rising from $67.50 to a high of $73 (highest level in over 3 years) amid a slew of supportive developments. Today’s OPEC monthly report stated that the cartels crude production fell by 201k bpd in March to average 31.96mln bpd, while […]

April 12
2018

US AM Digest: Euro Falls on Dovish ECB Minutes; EURGBP Eyes 2018 Low

Receive the DailyFX US AM Digest in your inbox every day before US equity markets open – signup here US Equities set to open on the front foot with equity futures showing gains of around 0.5%. Slight reprieve in equities with geopolitical headlines on the lighter side this morning, also some slide backtracking from President […]

April 12
2018

Bitcoin Chart Analysis – BTC Price Soars on Technical Breakout

Bitcoin News and Talking Points – Bitcoin surges through the December downtrend. – Higher prices ahead or another false dawn? IG Client Sentimentshow that 74.0% of traders are net-long of Bitcoin but recent changes in client holdings leaves the outlook for BTC mixed. Download our free guide to see what this means and how traders […]

April 12
2018

Japanese Yen Drops Despite Kuroda Expressing Optimism

The Japanese yen dropped against its major rivals today despite optimistic comments from Bank of Japan Governor Haruhiko Kuroda. The likely reason for that was the improving market sentiment. Kuroda showed optimism about inflation in today’s speech, saying: With the output gap improving and medium- to long-term inflation expectations seen heightening, we expect inflation to accelerate as a trend and head toward 2 percent. He also said, though, […]

April 12
2018

Australian Dollar Firm After Weak Data

The Australian dollar fell against its US counterpart slightly but gained on other most-traded peers today even though domestic macroeconomic data was not particularly helpful to the currency. The Melbourne Institute inflation expectations fell by 0.1 percentage point to 3.6% in April. The number of home loans fell by 0.2% in February from January. That is compared to the predicted drop by 0.3% and the previous month’s decline of 1.0%. AUD/USD traded at 0.7749 […]

April 12
2018

Can Volatility Push NZD/USD Above Key Resistance as US CPI Looms?

Talking Points: New Zealand Dollar implied volatility is the most elevated of its major counterparts The currency faces US CPI, FOMC minutes and a speech from RBNZ’s McDermott NZD/USD could be heading higher and it faces a critical resistance line from 2017 Build confidence in your own NZD/USD strategy with the help of our free […]

April 12
2018

GBPUSD Fails to Benefit From Firm UK Economic Data

GBPUSD talking points: – UK retail sales rose strongly in March, according to a trade body, and Bank of England policymaker Ian McCafferty said the central bank should not delay raising interest rates. – Yet GBPUSD just edged higher, suggesting its rally is losing momentum. Check out the IG Client Sentiment data to help you […]

Day: April 12, 2018