"The euro is coming under pressure from monetary policy divergence as the ECB looks set to prolong its accommodative stance, while the Fed is probably paving the way for a December rate hike." - Jun Kato, Shinkin Asset Management (based on Bloomberg) Pair's Outlook The common European currency began the week by treading even lower against the US Dollar, as the currency exchange
The Kiwi continued the fall against the Greenback, which occurred after the currency exchange rate encountered resistance put up by the 55-day SMA at 0.7249 and the second weekly resistance at 0.7256.
By the middle of the day it looked like the US Dollar is going to depreciate against the Loonie after it hit the weekly R1 at 1.3265.
Thursday's employment data caused the AUD/USD currency pair to erase almost all this week's gains, finding support only in front of the third demand area.
The Euro remained almost completely unchanged against the Yen yesterday, after having experienced substantial upside volatility.
The bullion retreated back to near 1,260 levels on Friday morning, as the metal failed to break through the resistance cluster, which it faced on Thursday.
Even though the USD/JPY pair was able to climb over the weekly PP, the 104.00 level was still not overcome.
The British currency ended trade on Thursday with a 33-pip loss against the US Dollar, managing to retain its position above the monthly S3.
The common European currency fell below the Brexit low level of 1.0912 against the US Dollar on Friday morning.
The Kiwi remained almost unchanged by midday on Thursday against the US Dollar.
The USD/CAD exchange rate surged mid-Thursday, as the Canadian Dollar continued to depreciate against the US Dollar in the aftermath of comments made by the Governor of Bank of Canada Poloz.
The Aussie edged higher for the sixth day in a row yesterday, easily retaking the 0.77 level, while meeting resistance only around the 0.7725 level.
The Yen managed to outperform the European single currency for the fifth consecutive day on Wednesday, being driven by a spark of risk-off sentiment.
The yellow metal was in the process of breaking through one more resistance cluster on Thursday morning.
A spark of risk-aversion caused the USD/JPY pair edge lower on Wednesday, thus, fully breaking the three-week up-trend.
The Cable remained relatively unchanged on Wednesday, unable to make its way above the 1.23 level, but with the immediate support cluster also limiting the losses.
The common European currency traded slightly lower against the Greenback on Thursday morning.
The New Zealand Dollar extended its gains against the Greenback on Wednesday, as the currency exchange rate faced almost no resistance at the beginning of the trading session.
The US Dollar continued to book losses against the Canadian Dollar, as the currency exchange rate fell for the fifth consecutive trading session by midday on Wednesday.
The boost received from the RBA Meeting Minutes caused the Australian Dollar to reach the first resistance area around 0.77 yesterday, but was insufficient to trigger a sharper rally.
Yesterday the European single currency erased all intraday gains and edged lower for the fourth consecutive day, finding support only in front of the 114.00 mark.
The yellow metal battled resistance on Wednesday morning, as it faced the first weekly resistance level at 1,261.62.
Relatively weak US inflation data yesterday caused the USD/JPY pair to negate all intraday gains and close trade with only a two-pip loss.
The common European currency had remained rather unchanged against the US Dollar on Wednesday morning.