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Day: July 11, 2019
July 112019
Euro Rallies on Powellâs Testimony, Retreats on Upbeat US CPI Data
The euro today rallied higher in the Asian session as investors reacted to Jerome Powell‘s dovish comments during his testimony before Congress. The EUR/USD currency pair later fell from its daily highs in the American session following the release of upbeat US inflation data. The EUR/USD currency pair today rallied to a high of 1.1285 in the mid-European session before falling to a low of 1.1246 in the American session and was trading near these lows at the time […]
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July 112019
CAD/JPY Tries to Stabilize Above 82.71
The Canadian dollar versus the Japanese yen currency pair managed to get even closer to the resistance line that dates back to the beginning of March 2019, and this brings even more possibilities for the bulls. Long-term perspective Since March 1, 2019, the price is in a downwards move. The support line of the descending channel was pierced, but the price found support at the 80.00 level. It bounced off this level, getting back into […]
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July 112019
Japanese Yen Strengthens Despite Plenty of Unfavorable Data
The Japanese yen is strengthening against several currencies on Thursday, despite plenty of weak data suggesting that the worldâs third-largest economy could be cooling down. The yen might be gaining steam on two things: expectations that the central bank could follow the Federal Reserveâs lead and slash interest rates or breathe a sigh of relief that the US and China have renewed trade talks. The Ministry of Economy, Trade, and Industry released […]
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July 112019
British Pound Extends Gains Following Carneyâs Upbeat Speech
The Sterling pound today rallied higher against the US dollar following Mark Carney‘s speech at a press conference following the release of the UK’s financial stability report for July. The GBP/USD currency pair rallied higher driven by the greenback’s overall weakness as markets continue to price-in future rate cuts by the US Federal Reserve. The GP/USD currency pair today rallied from an opening low of 1.2506 to a high of 1.2564 during Carney’s speech and was trading […]
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July 112019
EUR/USD Fails to Maintain Rally, Pushed Down by US CPI
EUR/USD was attempting to extend yesterday’s rally today but failed and was trading near the opening level after the US Consumer Price Index beat expectations. With unemployment claims being also better-than-expected, the dollar got enough support to rebound a bit. US CPI rose 0.1% in June, the same as in May, while analysts were expecting no change. (Event A on the chart.) Initial jobless claims were at the seasonally adjusted level […]
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