After a dip below the 1.13 level on Wednesday, the US Dollar received a bullish impetus and formed an attack towards the 1.14 mark.
The Aussie has managed to outperform the US counterpart despite the majority of the technical indicators being to the downside.
This week has been rather similar to the last one and most likely the EUR/JPY cross will set a fifth straight weekly advance.
"What I can tell you is that we are making progress towards our objectives but there is considerable further progress still to go."- New York Fed President William Dudley (based on Reuters)Pair's OutlookOn Thursday, the USD/CHF currency pair continued trading around the weekly pivot point at 0.9658 and below the important resistance, represented by October high at 0.9687. Despite four
"The market likes the idea of a snap election and a delay in the sales-tax hike, and the yen is being sold against the dollar."- Union Bank NA (based on Bloomberg)Pair's OutlookAfter three days of unsuccessful attempts, the USD/JPY managed to advance above the important resistance line, represented by weekly R1 at 115.87. The pair is now trading well above
"The Congressional Budget Office expects the annual deficit to shrink once again in 2015, but begin to rise in 2016 as the government spends more on retirement and health-care programs for the baby-boom generation."- Based on MarketWatchPair's OutlookAs expected, the GBP/USD did not manage to stabilize after a sharp decline on Wednesday. The pair declined to down to monthly and
"The recovery is continuing, but it is a very weak recovery, which will remain slow."- Dekabank (based on Bloomberg)Pair's OutlookEUR/USD currency cross decided to trade in the narrow range between 1.2430 and 1.2475 for a fourth consecutive day. Yesterday, the pair gained some value to return back above the weekly pivot point, which is located at 1.2465. It seems that
As of today the pair has been fighting to surpass the major level at 0.79 and the 55-day SMA at 0.7905.
USD/CAD is underpinned near the major level at 1.13; although, yesterday the pair slipped even below this level.
The Australian Dollar is continuing to perform explicitly well, it has gained for three straight days and it is poised for weekly gains.
EUR/JPY has traded in a very narrow range today, with the highest level below the weekly R1 that is located at 144.49.
"This is almost going to be like a horse race to the finish line on who's going [Bank of England or Fed] to go first now, whereas only three or four months ago that wouldn't have even been close."- J.P.Morgan Asset Management (based on Businessweek)Pair's OutlookUSD/CHF refused to move in any direction during the trading session on Wednesday. The pair
"It looks like Prime Minister Shinzo Abe has finally made up his mind and it's fair to consider that he decided to go to the people."- Former deputy chief of Japan's Liberal Democratic Party (based on Reuters)Pair's OutlookUSD/JPY continues trading between the monthly and weekly R1 for a third day in a row. It seems that the latter level looks
"We are seeing encouraging signs with respect of pay... we expect this pick-up to accelerate."- Mark Carney, BoE Governor (based on BBC)Pair's OutlookGBP/USD declined significantly on Wednesday due to inflation report from the Bank of England. The pair breached a number of strong support lines, including monthly and weekly S1. The current trading level is located below the weekly S1
"Resolute action by national authorities and other European bodies is needed to reduce the risk that the region could fall into a deeper slump. The world cannot afford a European lost decade."- Jack Lew, US Treasury Secretary (based on CNBC)Pair's OutlookThe most traded currency pair decided to prolong its sideways movement for a fourth consecutive day. The EUR/USD is trading
The Kiwi has started this week strongly, it already has added more than 100 pips to its value and it has all the prerequisites to climb even higher.
It seems that the US Dollar is likely to prolong its yesterday's decline, as it has touched the 20-day SMA at 1.1291 today.
The Aussie continues its rebound from last week's 200-pip slump; although, the pair managed to appreciate just slightly today.
EUR/JPY has dipped below the major level at 144, after yesterday's advance of 144.72,which is just 40 pips away this year's high.
"The 2012 precedent suggests that the SNB might intervene and purchase euros at around 1.2010."- UBS (based on Bloomberg)Pair's OutlookAfter an unsuccessful attempt to breach the Oct high at 0.9687, the pair continues to hover below this important level for a third day in a row. It has even plunged even more, namely below the weekly pivot point at 0.9658.
"The market's looking at the discussion of the possibility of a Japanese election as a negative for the yen. Pressures are likely to remain in place as long as the incentives to invest abroad are in place and the Japanese economy underperforms."- Citigroup (based on Bloomberg)Pair's OutlookUSD/JPY pair took a pause below the weekly R1 at 115.87, as it is
"Japan's experience and now Europe's current situation both indicate that indifference to very low inflation rates can generate a significant loss of confidence in the ability of a central bank to hit its inflation goal."- Boston Fed President Eric Rosengren (based on Reuters)Pair's OutlookGBP/USD currency pair returned back to the levels seen in the middle of the previous week, as
"There are many indicators that tell us interest rates are too low."- Philadelphia Fed President Charles Plosser (based on CNBC)Pair's OutlookAfter a confirmation of the resistance line at 1.25, the EUR/USD pair returned back below this level and is trading there for a second consecutive day. Concerning the fact that today there are no bullish signals on a daily chart
The NZD/USD cross is not actively trying to climb higher and to reverse its losses; however, currently it also looks quite well supported around the weekly PP at 0.7756.