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. Here is a look at key levels on the EUR/USD.
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FX Market Wrap at the Wall Street close
The US Dollar was bearish against all of its major pairs on Tuesday. On the economic data front, Wholesale Inventories fell 1.0% on month in the March preliminary reading (-0.4% expected), from a revised -0.6% in the February final reading. The Conference Board's Consumer Confidence Index dropped to 86.9 on month in April (87.0 expected), from a revised 118.8 in March.
On Wednesday, the Mortgage Bankers Association's Mortgage Applications data for the week ending April 24th is expected. GDP for the first quarter advanced reading is expected to fall -3.9% on quarter, from +2.1% in the fourth quarter third reading. Finally, the Federal Open Market Committee (FOMC) is expected to keep the Federal Funds Target Rate at 0.25%, in line with the last meeting.
The Euro was bearish against most of its major pairs with the exception of the USD. In Europe, France's INSEE has released April Consumer Confidence Index at 95 (vs 83 expected).
The Australian dollar was bullish against all of its major pairs.
Regarding major FX pairs,
• EUR/USD dippped 3pips to 1.0826 the day's range was 1.0810 - 1.0888 compared to 1.0799 - 1.0860 the previous session.
• GBP/USD was relatively flat trading at 1.2431 the day's range was 1.2404 - 1.2518 compared to 1.2360 - 1.2455 the previous session.
• USD/JPY dropped 38pips to 106.87 the day's range was 106.56 - 107.34 compared to 106.99 - 107.64 the previous session.
• USD/CHF slid 5pips to 0.9747 the day's range was 0.9721 - 0.9800 compared to 0.9713 - 0.9767 the previous session.
• AUD/USD jumped 30pips to 0.6495 the day's range was 0.6434 - 0.6514 compared to 0.6380 - 0.6472 the previous session.
• USD/CAD dropped 44pips to 1.399 the day's range was 1.3936 - 1.4073 compared to 1.4029 - 1.4121 the previous session.
• The dollar index declined 0.12pt to 99.924 the day's range was 99.450 - 100.209 compared to 99.833 - 100.319 the previous session.
FX pair in focus
The USD/CAD was the largest decliner on Tuesday and remains capped by a declining trend line. 1.4015 plays an important key level as resistance. For now, The USD looks weak against its major pairs.
Source: GAIN Capital, TradingView
Happy trading.
FX Market Wrap at the Wall Street close
The US Dollar was bearish against all of its major pairs on Tuesday. On the economic data front, Wholesale Inventories fell 1.0% on month in the March preliminary reading (-0.4% expected), from a revised -0.6% in the February final reading. The Conference Board's Consumer Confidence Index dropped to 86.9 on month in April (87.0 expected), from a revised 118.8 in March.
On Wednesday, the Mortgage Bankers Association's Mortgage Applications data for the week ending April 24th is expected. GDP for the first quarter advanced reading is expected to fall -3.9% on quarter, from +2.1% in the fourth quarter third reading. Finally, the Federal Open Market Committee (FOMC) is expected to keep the Federal Funds Target Rate at 0.25%, in line with the last meeting.
The Euro was bearish against most of its major pairs with the exception of the USD. In Europe, France's INSEE has released April Consumer Confidence Index at 95 (vs 83 expected).
The Australian dollar was bullish against all of its major pairs.
Regarding major FX pairs,
• EUR/USD dippped 3pips to 1.0826 the day's range was 1.0810 - 1.0888 compared to 1.0799 - 1.0860 the previous session.
• GBP/USD was relatively flat trading at 1.2431 the day's range was 1.2404 - 1.2518 compared to 1.2360 - 1.2455 the previous session.
• USD/JPY dropped 38pips to 106.87 the day's range was 106.56 - 107.34 compared to 106.99 - 107.64 the previous session.
• USD/CHF slid 5pips to 0.9747 the day's range was 0.9721 - 0.9800 compared to 0.9713 - 0.9767 the previous session.
• AUD/USD jumped 30pips to 0.6495 the day's range was 0.6434 - 0.6514 compared to 0.6380 - 0.6472 the previous session.
• USD/CAD dropped 44pips to 1.399 the day's range was 1.3936 - 1.4073 compared to 1.4029 - 1.4121 the previous session.
• The dollar index declined 0.12pt to 99.924 the day's range was 99.450 - 100.209 compared to 99.833 - 100.319 the previous session.
FX pair in focus
The USD/CAD was the largest decliner on Tuesday and remains capped by a declining trend line. 1.4015 plays an important key level as resistance. For now, The USD looks weak against its major pairs.
Source: GAIN Capital, TradingView
Happy trading.
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.
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