The Australian Dollar slightly overshot our target, as the exchange rate reached the 100-day SMA, rather than the expected 0.72 level yesterday.
"We have had some more dovish comments from Draghi and that has driven the euro down just now. It does now seem like the ECB is heading down this road and the market is positioning for it."- Rabobank (based on CNBC)Pair's OutlookAs was expected, the Euro remained relatively unchanged against the Japanese Yen, as it added only 11 pips over the
Gold surged the most since Oct 14 on Thursday, by jumping from July low at 1,070 towards the weekly pivot point at 1,084.
The US currency lost over 75 pips against the Yen yesterday, caused by the FOMC meeting minutes results, in spite of the December hike possibility remaining in play.
The GBP/USD reached as high as the 200-day SMA on Thursday, but lost some of the gains and closed under 1.53.
Yesterday the EUR/USD cross strengthened the most since Nov 12, by piercing through the 1.07 mark and consolidating somewhat below 1.0750 by the end of trading.
On Wednesday the Kiwi failed breached neither the closest support nor the resistance, thus traded flat by the end of the day.
The Greenback gave up on its intraday gains and ended the day in the red zone.
The AUD/USD remained unchanged over the day, after having reached a fresh one-week low yesterday.
"In Europe and Japan, central banks are carrying on with easy monetary policy to support growth and this plays in favor of stock markets." - Ambrosetti Asset Management (based on CNBC) Pair's Outlook The EUR/JPY currency pair behaved in accordance with expectations, as it underwent a correction and closed trade slightly above the target. Despite yesterday's surge, the situation remains unchanged. The given cross
Gold was fully unchanged in value yesterday, with both bulls and bears failing to establish a lead after minutes of the latest FOMC meeting.
The USD/JPY appreciated only 18 pips on Wednesday, piercing the nearest resistance, which is now forming a support cluster along with the weekly R1.
After having tested the immediate support cluster, the Sterling managed to preserve the bullish momentum yesterday, but failed at reaching the closest resistance.
EUR/USD gained value on Wednesday, despite hawkish FOMC meeting minutes mentioning a potential rate hike in December.
The New Zealand Dollar's fall was stopped by the immediate support, causing the NZD/USD to close trade at 0.6468 yesterday.
The American Dollar suffered a small decline against its Canadian counterpart on Tuesday, as the Industrial Production data disappointed, causing an 11-pip loss.
Despite initial weakness, the AUD/USD succeeded in maintaining trade above the weekly PP.
The Euro failed to edge higher for another day yesterday, but the immediate support limited the losses.
Precious metal confirmed the lowest level since year 2010 at 1,070 which was reached back in July.
Although the Greenback appreciated against the Japanese Yen on Tuesday, a new 13-week high was not reached.
Yesterday the disappointing Industrial Production figures weighed on the US currency, giving the Sterling the upper hand and, thus, allowing the Cable to recover from intraday losses.
Ignoring fundamentals, EUR/USD continued to underperform and closed below 1.0650 on Tuesday.
On Monday the Kiwi suffered a 56-pip loss against the US Dollar, ignoring the immediate support and settling slightly below the 0.65 level.
The USD/CAD surprised with its performance, as it stabilised at the highest in six weeks yesterday.