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Day: April 24, 2018
April 242018
EUR/USD Currency Pair Acts in Contradiction to Macroeconomic Data
EUR/USD acted in contradiction to economic reports released during the current trading session. The currency started its rally after the surprisingly weak German Ifo Business Climate (event A on the chart) and continued to rise even as US data was good for the most part. The possible reason for such a weird behavior was profit-taking after the dollar’s recent rally in preparation for tomorrow’s policy announcement by the European Central Bank. S&P/Case-Shiller home price index climbed […]
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April 242018
EUR/USD Rallies Higher Despite Weak German IFO Survey Data
The EUR/USD currency pair today rallied higher despite the release of the disappointing German IFO business climate index early in the European session. The pair maintained its uptrend into the early North Americans session despite the release of positive US macro data. The EUR/USD currency pair today rallied by over 55 points from a low of 1.2184 to trade at a high of 1.2243 at the time of writing. The release of the German IFO Business Climate data triggered […]
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April 242018
Pound Rallies Higher Boosted by Improved Public Sector Finances
The British pound today rallied slightly against the US dollar following the release of upbeat UK public sector finances report early in the European session. The GBP/USD currency pair was on track to reverse the massive decline that occurred during the last 5 trading sessions where the pair lost over 450 points. The GBP/USD currency pair today gained over 65 points to rally from a daily low of 1.3917 to trade at a high […]
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April 242018
US Dollar Boosted by Bond Yields, EURUSD Likely to Fall Further
USD Talking Points – US dollar index touches a three-month high. – 2-year German-UST yield spread widens to over 300 basis points. Check out our new Trading Guides: they’re free and have been updated for the first quarter of 2018. IG Client Sentiment data show 51.3% of traders are net-long EURUSD and the number of […]
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April 242018
GBPUSD Brushes Off Dip in Business Optimism as Investors Eye UK GDP
GBP News and Talking Points UK Business Optimism falls as manufacturing output slows, however remained above average. GBPUSD unfazed by CBI report with focus on the UK GDP release on Friday See our Q2 GBP forecast to learn what will drive the currency through the quarter. Mixed Report sees muted Sterling Response The CBI Business […]
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April 242018
US AM Digest: US Treasury Yield Resistance Keep DXY Buying at Bay
Receive the DailyFX US AM Digest in your inbox every day before US equity markets open – signup here US Market Snapshot via IG: DJIA +0.5%, NASDAQ 100 +0.5%, S&P 500 +0.5% USD: Tepid price action for the US Dollar for much of the morning after its recent stellar gains, the key 3% level in […]
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April 242018
Bitcoin (BTC) Price Hits Resistance, Bitcoin Cash (BCH) Soars
Bitcoin and Bitcoin Cash News and Talking Points – Bitcoin has rallied around 45% this month. – Fibonacci resistance may prove troublesome but the move higher is expected to continue. IG Client Sentimentshow that 75.5% of traders are net-long of Bitcoin with retail less net-short over the last week. Download our free guide to see […]
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April 242018
Consumer Confidence Rose in April, Despite Market Expectations
Talking Points: – The Confidence Board Sentiment Index rose from the previous month at 128.7 despite bearish market expectations – The present and business conditions indices rose as well, though responses were fairly mixed – US Dollar Index impact was limited as – See the DailyFX Economic Calendar for upcoming economic data and for a […]
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April 242018
EUR/USD Currency Pair Acts in Contradiction to Macroeconomic Data
EUR/USD acted in contradiction to economic reports released during the current trading session. The currency started its rally after the surprisingly weak German Ifo Business Climate (event A on the chart) and continued to rise even as US data was good for the most part. The possible reason for such a weird behavior was profit-taking after the dollar’s recent rally in preparation for tomorrow’s policy announcement by the European Central Bank. S&P/Case-Shiller home price index climbed […]
Read more
April 242018
New Zealand Dollar Weakest Major Currency During Tuesday Trading
The New Zealand dollar was the weakest major currency today, falling for the sixth straight trading session versus the US dollar and for eighth versus the euro and the extremely weak Japanese yen (which was the second weakest). There was no apparent reason for such a sell-off. Some market analysts speculated that it happened due to diminishing prospects for an interest rate hike from the Reserve Bank of New Zealand in the foreseeable future. Currently, […]
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