It has been a disastrous session for AUD/USD, which has plunged 1.26% and is trading at 0.6899. RBA Governor Philip Lowe faced a grilling from Australian lawmakers earlier. Higher rates and high inflation have caused a cost-of-living crisis and the RBA has been heavily criticised for the sharp rate-tightening cycle. Lowe confirmed that more rate hikes were on...
The euro has fallen for three straight sessions and has extended its losses on Tuesday. Earlier in the day, EUR/USD fell below the 1.07 line for the first time since Jan. 23. German and eurozone numbers have been soft this week, adding to the euro's woes. Eurozone retail sales fell 2.7% in December, worse than the estimate of -2.5% and well off the November read...
The euro continues to lose ground and has started the week in negative territory. In the European session, EUR/USD is trading at 1.0783, down 0.19%. Earlier in the day, the euro has now fallen to its lowest level since Jan. 23. The euro sent market participants on a roller-coaster ride last week. The Fed's rate increase pushed the euro higher by 1.16%, but the...
The Canadian dollar is unchanged on Friday, trading at 1.3466 in the European session. We could see some volatility in the North American session, as Canada releases retail sales. The markets are bracing for a downturn in retail sales for November, with a forecast of -0.5% m/m for the headline figure and -0.4% for the core rate. This follows a strong report in...
The Australian dollar has extended its slide on Thursday. AUD/USD is trading at 0.6884 in Europe, down 0.82%. Australia's December employment report was weaker than expected, sending the Australian dollar sharply lower. The headline reading showed a loss of 14,600 in total employment, which may have soured investors. The release wasn't all that bad, as full-time...
The British pound is in full flight upwards on Wednesday. In the North American session, GBP/USD is trading at 1.2393, up 0.86%. UK inflation eased for a second straight month in December. Headline CPI dipped to 10.5%, down from 10.7% in November and just below the forecast of 10.6%. Core CPI, however, did not show an improvement as it remained unchanged at...
Today’s news will cause new movements and gives new trade opportunities. Over the past few days we’ve been looking at GBPUSD. Yesterday the price reached 1.2300 and made a new top. Thus, the expected movement after the news has been completed. Today we will look for another rise. Upon a breakout of 1,2315, the next resistance levels are 1,2370 & 1,2427.
US and Japanese markets are open on Tuesday, but trading remains thin after the Christmas holiday. There are some key Japanese events on the calendar, although US releases are all tier-2 events. In the North American session, USD/JPY is trading at 133.41, up 0.44%. There are a host of events out of Japan today. Retail sales rose for a ninth consecutive month in...
I don't like the setup yet on EMTY - but there is a lot of fundamental evidence pointing to a rough 2023 for retail. Container imports are plummeting - that is a sure-fire sign of falling retail demand: www.descartes.com AMEX:EMTY
GBP/USD is sharply lower on Wednesday. In the North American session, the pound is trading at 1.2093, down 0.74%. There was an unexpected surprise from the UK CBI Realized Sales today. December sales volumes showed a strong rebound, rising 11 points. This easily beat the November reading of -19 and the consensus of -21. However, retailers expect the rebound to be...
The euro has climbed to its highest level since June 29th, as the US dollar continues to struggle. In the North American session, EUR/USD is trading at 1.0496, up 0.85%. German consumers are being squeezed by the double-whammy of rising interest rates and double-digit inflation, and the October retail sales report shows that consumer spending was sharply lower....
USD is having upside from the shaky risk perceptive that is the result of CCP protests in China. AUDUSD has traded into support following the dissapointing AU retail sales data. Despite this I'm bullish the pair, as generally the market sentiment feels USD bearish & I'm looking for this trend to resume. Find out if the AUDUSD will appreciate alongside me.
The New Zealand dollar continues to gain ground this week. In the North American session, NZD/USD is trading at 0.6267, up 0.35%. New Zealand will release retail sales for Q3 later in the day. The markets are expecting a small gain of 0.5%, which would be a turnaround from a disappointing -2.2% in Q2. Consumers continue to struggle with high inflation and rising...
The Canadian dollar is in positive territory on Tuesday. In the North American session, USD/CAD is trading at 1.3400, down 0.39%. The Canadian consumer was not in a spending mood in September, as retail sales declined by 0.5%, following a 0.4% gain a month earlier. The forecast stood at -0.4%. Core retail sales fell by 0.7%, worse than the consensus of -0.4% and...
- Key points: 1- The fall statement came in the context of weak economic growth, high inflation rates and high interest rates. The Office of the Balance Sheet projected that the UK would be in recession from the third quarter which would last for just over a year until the third quarter of 2023, with GDP falling 2.1% ...
$DXY - Soon to break out either direction! Stay tuned for DXY - It's soon to break out as we see data decline in US - will the retail sales today be the same or will it be as expected, higher?! Have a great day ahead, Trade Journal
Yesterday EURUSD reached 1,0440 followed by 200 pips drop to 1,0284. There will be further volatility caused by the news today. ( US October Retail Sales) This could be a good time to reverse the movement in EURUSD. New upward movement to 1,0500 is possible, but no buys are recommended from these levels. There will be sales opportunities in case of new pullback.
I think euro will go for 0.97976 price level this NY session Also be aware of the high impact news driver Caution: This is not entry point