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Day: July 17, 2019
July 172019
Japanese Yen Mixed After Fitch Maintains Credit Rating
The Japanese yen was mixed today after Fitch Rating maintained Japan’s sovereign credit rating. The forecasts made by the agency were not all good, though. Fitch Ratings maintained Japan’s Long-Term Foreign-Currency Issuer Default Rating at ‘A’. The outlook is stable. The rating agency cited the following reasons for its decision: Japan’s ratings balance the strengths of an advanced and wealthy economy, with high governance standards and strong public institutions, […]
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July 172019
Euro Struggles to Rally Despite Upbeat Eurozone Inflation Data
The euro today attempted to rally against the US dollar from the Asian session but encountered massive resistance despite the release of upbeat euro area inflation data. The EUR/USD currency pair could not muster enough momentum to mount a sustained rally as each attempt was quickly countered by a retracement as the bears stepped in. The EUR/USD currency pair today rallied from a low of 1.1200 in the early European session to a high of 1.1233 in the American […]
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July 172019
USD/JPY Possibly Preparing a New Leg Down Towards 107.00
The US dollar versus the Japanese yen might look as if it is ready for a rally, but the chart tells a different story. Long-term perspective After confirming the resistance area at 112.20, the price entered a descending phase that confirmed, on June 25, 2019, the support of 106.92, which corresponds to the psychological level of 107.00. Adding the fact that the same level was confirmed at the beginning of 2019, the price should have appreciated in a very convinced […]
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July 172019
US Dollar Takes a Breather After Strong Data Sparks Rally
The US dollar is taking a breather midweek following a strong session on Tuesday, driven by strong economic data that left investors feeling ebullient. A string of housing numbers did come out, but the market did anticipate weakness in the sector, which could adjust tradersâ minds about the worldâs largest economy being on solid footing. It has been a rough year for the national real estate market, and the mortgage applications data […]
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July 172019
EUR/USD Rebounds on Eurozone CPI
EUR/USD dipped intraday but rebounded later today after the release of a better-than-expected eurozone consumer inflation report. (Event A on the chart.) The session was light in terms of US macroeconomic releases. Both housing starts and building permits fell in June. Housing starts were at the seasonally adjusted annual rate of 1.25 million, down from 1.27 million in May. Building permits were at the seasonally adjusted annual rate of 1.22 million, down […]
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