The Euro extends recovery on Thursday, as better than expected German labor and inflation data added to positive near-term sentiment. The single currency was also supported by weaker dollar, driven by dovish Fed and month-end selling. Although the fundamentals are positive, it is unlikely that positive impact would last longer, as daily technical…

The dollar index extended near-term weakness zone after dovish Fed further soured the sentiment. Although the US central bank pointed to strong economic recovery, changed rhetoric about the health condition, which is not any more the key obstacle for recovery and moved expected time for the first rate hike from 2024 to 2023, the tone was still…

The Australian dollar accelerates lower in early European session on Tuesday, driven by risk aversion on further drop in Chinese stocks. The situation with Covid-19 is mixed, as Victoria state is about to ease measures but New South Wales records new virus cases that continues to sour the sentiment and weigh on risk-sensitive Aussie dollar. The…

WTI oil remains steady on Monday, following strong rebound in past three days (up 8.5%), but the action faces headwinds from strong resistances at $72.39/50 (Fibo 61.8% of $76.95/$65.02 pullback / converged 20/30DMA’s). Signals that crude supply is set to be tight for the rest of the year, support oil prices, but fresh spread of coronavirus…

The Euro maintains positive near-term tone with immediate negative impact from weaker than expected German data (July Ifo business climate 100.8 vs 102.1 f/c and 101.7 in June) being minor. Recovery attempts from new 3 ½ month lows probe through initial barriers at 1.1800 zone (falling 10DMA / psychological), but extension and close…

The dollar index eases in early Monday’s trading, pressured by rise in riskier currencies, but remains near its 3 ½ month high, posted last week. Larger uptrend is intact, with extended sideways mode ahead of this week’s Fed policy meeting and US GDP data, seen as likely scenario. Market expects hawkish stance from Fed and possible change in…

Cable eased on Friday after strong rally in past two days failed to clear pivotal barrier at 1.3780 (falling 10DMA / Fibo 61.8% of 1.3910/1.3571 downleg). Conflicting signals from solid economic indicators and fears of stronger spread of the Delta variant of coronavirus, keep the pound without clear direction, with mixed technical studies…

The EURUSD is holding near new multi-week low in early European trading on Friday, after strong upside rejection and subsequent drop on Thursday. Short-lived positive impact from ECB resulted in brief correction which was capped by initial barriers (falling 10/20DMA’s). Upbeat German PMI data keep the pair afloat, but the reaction was so far…