The British Pound considerably decreased against the US Dollar after the UK job market report was released.
The US National Association of Realtors reported that in January the existing home sales slumped for the second month in a row.
On Wednesday the yellow metal's price reached the lower trend line of a long term ascending channel pattern.
On Wednesday the USD/JPY currency pair was approaching the resistance of a long term descending channel.
Initially, the British Pound rose against the US Dollar despite lower-than-expected UK retail sales data, growing 11 base points to the 1.4118 mark.
The Euro weakened against the Greenback despite the data showing an unexpected uptick in the German ZEW economic sentiment.
As the yellow metal was failing to pass the levels near the 1,360 mark, a review of the commodity price's charts was conducted.
The Decline of the US Dollar against the Japanese Yen has ended. However, it might not be for long.
Initially, the British Pound rose against the US Dollar despite lower-than-expected UK retail sales data, growing 11 base points to the 1.4118 mark.
The Euro zone's currency advanced against the US Dollar on Monday on continuously growing surplus trend in the Eurozone's current account.
The Labour Department revealed that the US Producer Price Index climbed 0.4% in January, as forecasted.
Initially, the British Pound rose against the US Dollar despite lower-than-expected UK retail sales data, growing 11 base points to the 1.4118 mark.
The Euro continued the trend against the Greenback, despite of the US producer prices showing its forecasted growth in January.
The surge of the metal's price has been continuing tightly next to the upper trend line of the ascending channel pattern.
The fall has forced the currency exchange rate to the 105.50 mark. However, there is a new development on the charts.
The Euro continued the trend against the Greenback, despite of the US producer prices showing its forecasted growth in January.
The Labour Department revealed that the US Producer Price Index climbed 0.4% in January, as forecasted.
The breaking of the resistance has given more gains. However, there was a very notable event, which resulted in a drawdown on Wednesday.
SWFX market sentiment is 71% bullish (-2%) 57% (+4%) of pending orders in the 100-pip range are set to BUY
The release showed that the US Consumer Price Index surged 0.5% over the course of January, beating expectations for only a 0.3% rise.
The EUR/USD currency pair hammered through the floor on Wednesday, as the report showed that the US consumer prices rose more than anticipated in January.
The pair broke the resistance, which kept it down on Tuesday. The metal is set to revel new patterns, which should be aimed upwards.
SWFX market sentiment is 73% bullish (+3%) 53% (-5%) of pending orders in the 100-pip range are set to BUY
The British Pound fell against the Greenback 10 points or 0.07%, following the UK CPI data release.