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Written by Imran Allana
Forex Analysis - 6th January 2015
EURUSD technical analysis
EUR/USD opened the Asian trading session at 1.1932 after recovering from 1.1887 overnight as long-dated treasury yields fell sharply and as USD/JPY led USD broadly lower. Dipping to 1.1927 early, it grinded higher still to 1.1955 with the move higher in AUD/USD keeping the USD on the defensive. Sentiment remains decidedly bearish however, with uncertainties surrounding the Greek election on January 25th and ECB policy on January 22nd.
United Kingdom & Euro Zone
Sunday 19th April 2015
|00:45||New Zealand||Consumer Price Index (CPI) q/q||April||%||-0.2|
|An inflationary indicator that measures the quarterly change in the cost of a fixed basket of products and services, including housing, electricity, food, and transportation.||Importance:
Written by easy-forex team
Weekly Outlook - 6th April 2015
If you asked traders before Good Friday about the upcoming Nonfarm Payrolls (NFP) data for March, you would be surprised to find that they would not be particularly optimistic about the U.S. dollar’s ongoing strengthening. In fact, some would say that a possible result under the previous month’s 201,000 would urge them to buy the EUR/USD. And that’s exactly what happened. The U.S. dollar lost ground against many of its trading peers after the NFP data showed that only 126,000 new jobs were filled, and that most probably nullified any slim hopes by market participants that the Federal Reserve (Fed) would consider increasing interest rates by June. On the contrary, it is most likely that the Fed will proceed to an interest rate hike after September of this year now that it has a solid reason to hold on to its hesitations.
The markets moved in an interesting manner after the NFP results because although there was an obvious depreciation of the U.S. dollar against a lot of major currencies, gold and oil markets were closed on Good Friday and so there was no reaction by the yellow shiny metal nor the ‘black gold’. And while the discouraging NFP result was an opportunity for the world’s most popular currency pair to surge even further, Good Friday was an opportunity for many traders to spend some time with friends and family instead of opening new trading positions and so the currency pair once more remained below the stubborn 1.10 level. Is there a technical and psychological ceiling being created at that level? If the answer to that is yes, then it may be interesting to see whether a possible breakthrough above that level would possibly push even more EUR/USD bulls to place more trading positions.
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