Good afternoon,
FX Market Wrap at the Wall Street close
The US Dollar was bearish against most of its major pairs on Monday with the exception of the CHF. On the economic data front, no major economic data was released. On Tuesday, Wholesale Inventories for the March preliminary reading are expected to fall 0.4% on month, from -0.7% in the February final reading. The Conference Board's Consumer Confidence Index for April is expected to drop to 88.0 on month, from 120.0 in March.
The Euro was bearish against most of its major pairs with the exception of the CHF and USD. In Europe, there was no major economic data released.
The Australian dollar was bullish against all of its major pairs.
Regarding major FX pairs,
EUR/USD gained 4pips to 1.0827 the day's range was 1.0799 - 1.0860 compared to 1.0727 - 1.0829 the previous session.
GBP/USD rose 54pips to 1.2421 the day's range was 1.2360 - 1.2455 compared to 1.2298 - 1.2377 the previous session.
USD/JPY fell 23pips to 107.28 the day's range was 106.99 - 107.64 compared to 107.37 - 107.76 the previous session.
USD/CHF rose 27pips to 0.9757 the day's range was 0.9713 - 0.9767 compared to 0.9727 - 0.9803 the previous session.
AUD/USD jumped 87pips to 0.6458 the day's range was 0.6380 - 0.6472 compared to 0.6337 - 0.6398 the previous session.
USD/CAD dropped 59pips to 1.4044 the day's range was 1.4029 - 1.4121 compared to 1.4024 - 1.4120 the previous session.
The dollar index fell/declined/dropped 0.29pt to 100.086 the day's range was 99.833 - 100.319.
FX pair in focus
The EUR/USD currency pair broke above our key resistance level of 1.0835. The USD was weaker across the majors on Monday however the EUR failed to gain momentum to the upside. Traders are watching 1.08155 support to see if price action can hold above a declining trend line.
Source: GAIN Capital, TradingView
Happy trading.
FX Market Wrap at the Wall Street close
The US Dollar was bearish against most of its major pairs on Monday with the exception of the CHF. On the economic data front, no major economic data was released. On Tuesday, Wholesale Inventories for the March preliminary reading are expected to fall 0.4% on month, from -0.7% in the February final reading. The Conference Board's Consumer Confidence Index for April is expected to drop to 88.0 on month, from 120.0 in March.
The Euro was bearish against most of its major pairs with the exception of the CHF and USD. In Europe, there was no major economic data released.
The Australian dollar was bullish against all of its major pairs.
Regarding major FX pairs,
EUR/USD gained 4pips to 1.0827 the day's range was 1.0799 - 1.0860 compared to 1.0727 - 1.0829 the previous session.
GBP/USD rose 54pips to 1.2421 the day's range was 1.2360 - 1.2455 compared to 1.2298 - 1.2377 the previous session.
USD/JPY fell 23pips to 107.28 the day's range was 106.99 - 107.64 compared to 107.37 - 107.76 the previous session.
USD/CHF rose 27pips to 0.9757 the day's range was 0.9713 - 0.9767 compared to 0.9727 - 0.9803 the previous session.
AUD/USD jumped 87pips to 0.6458 the day's range was 0.6380 - 0.6472 compared to 0.6337 - 0.6398 the previous session.
USD/CAD dropped 59pips to 1.4044 the day's range was 1.4029 - 1.4121 compared to 1.4024 - 1.4120 the previous session.
The dollar index fell/declined/dropped 0.29pt to 100.086 the day's range was 99.833 - 100.319.
FX pair in focus
The EUR/USD currency pair broke above our key resistance level of 1.0835. The USD was weaker across the majors on Monday however the EUR failed to gain momentum to the upside. Traders are watching 1.08155 support to see if price action can hold above a declining trend line.
Source: GAIN Capital, TradingView
Happy trading.
