The US unemployment rate dropped unexpectedly last month, as companies created more jobs than expected.
Good news came for bears Friday morning as the US Dollar continued reassuring the validity of the senior channel down pattern and paving the way towards strong downward risks for all time-frames.
The bullion continues lower on Friday. However, it seems that the fall of yellow metal seems to have paused.
The Euro has jumped more than 100 base points during Thursday's trading, which is a larger amount than it was expected.
GBP/USD sustained its tendency of lacking momentum to move in any direction and opened flat for the fifth consecutive time, suggesting that the pair might take this path until it meets the bottom trend-line of the senior broadening wedge.
Following a steady climb towards the upper trend-line of the strong largescale bearish channel that has been guiding the motion since mid-December 2016, USD/JPY has at last encountered solid resistance at the upper trend-line of the pattern
GBP/USD remained inside the bounds of an upward sloping channel pattern on the daily chart and opened the day with a slip further away from the upper boundary which it had managed to test twice over the last few weeks.
The bullion has reached the expected target of a long term pattern's lower trend line sooner than expected. However, the future direction of the metal seems unclear.
The Fed has pushed the EUR/USD pair below the 1.09 mark, and it seems that it might stay at that level.
The US economy expanded at its weakest pace since the Q1 of 2014 in the three-month period to March, as consumer spending barely rose; however, a rise in business investment and improving pay growth held out hopes that the economy would regain momentum in the upcoming quarters.
British manufacturing activity hit its best since 2014 last month, supported by a solid global economic recovery and the weak Pound.
The bullions recent moves were easy to forecast, as a strong support cluster keeps the rate from falling.
On Wednesday morning the EUR/USD pair remained in a short term ascending channel, which kept the rate positioned between two notable levels of significance.
The bullion continues on its path lower in the strong and many times confirmed descending channel pattern.
On Tuesday morning the Euro continued the rebound against the US Dollar, which began during the last hours of Monday's trading.
The Purchasing Managers' Index for the US manufacturing sector grew less than analysts estimated.
The Purchasing Managers' Index for the US manufacturing sector grew less than analysts estimated.
The bullion proved once again to be unable to confirm the gains posted on Friday's trading session and erased the motion on Monday, continuing the ranging pattern it has been trading inside of for the last four sessions.
EUR/USD opened in the red zone as several markets were closed on Monday due to banking holidays.
The US economy expanded at its weakest pace since the Q1 of 2014 in the three-month period to March, as consumer spending barely rose; however, a rise in business investment and improving pay growth held out hopes that the economy would regain momentum in the upcoming quarters.
The British economy expanded at a slower than expected pace in the three-month period to March, as consumers began feeling the impact of rising inflation amid the sharp fall in the value of the Pound.
Orders for US-manufactured goods rose less than experts estimated in March, official figures revealed on Thursday.
Orders for US-manufactured goods rose less than experts estimated in March, official figures revealed on Thursday.
The yellow metal seems not able to pass the weekly S2, which is located at the 1,263.56 level. The reasons for that are various.