Directionless mode extends as downbeat UK retail sales had minor impact on pound
Weaker than expected UK retail sales (Oct m/m -0.1% vs 0.2% f/c; y/y 3.1% vs 3.7% f/c) had minor negative impact on sterling.
Cable is slightly bid on Thursday but still holding within narrow range that extends into third day.…
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Aussie falls to 1-month low on weak Australian / Chinese data
The Australian dollar dipped below 0.6800 mark (50% retracement of 0.6670/0.6929) and hit new one-month low at 0.6792 in early European trading on Thursday.
Data released overnight showed strongest fall in Australian employment in past…
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Aussie extends weakness as trade optimism fades
The Australian dollar fell to two-week low against its US counterpart on Wednesday, extending weakness into fourth straight day and breaking through important Fibo support at 0.6830 (38.2% of 0.6670/0.6929).
Lack of breakthrough in…
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Larger bears temporarily on hold after weaker than expected UK CPI
The cross jumped to the session high at 0.8585 after weaker than expected UK inflation data deflated sterling.
UK CPI (y/y Oct 1.5% vs 1.6% f/c and 1.7% prev) fell to its lowest since Nov 2016, with BoE’s expectations for further fall…
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Weak UK inflation could hurt pound
Cable is holding within tight range in early Wednesday’s trading ahead of UK inflation report.
Near-term action is biased lower after daily Tenkan-sen (1.2870) repeatedly capped and Tuesday’s action ended in Doji candle, with uncertainty…
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Lira remains at the back foot and pressures cracked pivotal support
The USDTRY pair extends bounce from 5.6850 (4 Nov low) where rising 200DMA contained bear-leg from 5.9378 (14 Oct high).
Recovery returned above ascending and thickening daily cloud which twisted today and underpins the action.
Monday’s…
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Bears consolidate ahead of key Fibo support; Trump’s trade speech in focus
Spot gold remains in bearish mode and pressuring Monday’s new 13-week low at $1448, which lays just above key Fibo support at $1445 (38.2% of $1266/$1557 ascend.
The metal’s price holds in red for the fourth consecutive day and was down…
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Bias remains with bears despite failure to close below 3-week range floor
The cross is consolidating above new multi-month low at 0.8557, posted on Monday, with near-term action being slightly underpinned by unexpected improvement in German ZEW figure (Nov -2.1 vs -13.2 f/c, but the indicator remains in negative…
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Bulls in control above 200DMA, President Trump’s trade speech in focus
The pair edged higher on Tuesday after 200DMA (109.01) repeatedly limited dips, on track for another attack at cracked key Fibo barrier at 109.36 (61.8% of 112.40/104.44) which so far resisted two attacks.
Daily techs are mixed (momentum…
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Bears are taking a breather before resuming; German ZEW data remain negative and unlikely to change…
The Euro holds in extended consolidation above new three-week lows (1.1016) but remains biased lower, with consolidation being capped by broken 55DMA (1.1038).
Bearish daily studies maintain negative stance, however, further…
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