Despite having reached the 55-day SMA, the US Dollar ultimately sustained losses against its Canadian counterpart.
"Reading the [RBA governor's] statement closely, this suggests the RBA is likely to wait until February when it will have another inflation print, which will likely confirm the lower than previously anticipated inflation trajectory. From here it seems that a rate cut in February is most likely."- ANZ (based on WBP Online) Pair's Outlook [ANNOUNCE][/ANNOUNCE]This time the 55-day SMA provided enough impetus for the
The European currency edged down on Tuesday, with the weekly PP somewhat limiting the losses.
Bears spent the Tuesday's trading session by actively selling the yellow metal, just before the bunch of US statistics is published later on Wednesday.
Although the USD/JPY managed to climb above the 121.00 major level, the 200-day SMA limited the Greenback's gains yesterday.
Even though the Sterling appreciated against the US Dollar, the pair gained only four pips.
EUR/USD pierced through the weekly PP at 1.0998 yesterday, thus reopening the next support zone for bears.
The 20-day SMA helped the New Zealand Dollar to remain in the green, even though the pair closed with only a nine-pip rally yesterday.
The USD/CAD's rally was slowed down by the monthly PP, resulting in the pair's failure to maintain trade above 1.31.
The Aussie appreciated against the US Dollar, but not as much as anticipated, as the 55-day SMA prevented the pair from edging higher.
The EUR/JPY cross remained relatively unchanged over Monday, adding only 18 pips.
As it was expected, the second attempt to penetrate both 55 and 100-day SMAs used to be quite successful.
The 55-day SMA failed to hold the USD/JPY from a corrective rally yesterday.
The better-than-expected UK Manufacturing PMI was insufficient for the Cable to maintain trade near the 1.55 level yesterday.
EUR/USD showed no signs of volatile development on Monday, being that market participants are waiting for major fundamental impetus to come through in course of the second part of this week.
The Kiwi's rally last Friday was insufficient to erase the two-week losses completely.
Disappointing US fundamentals weighed on the Greenback on Friday, pushing the USD/CAD to a fresh one-week low of 1.3055, where the 20-day SMA was located.
The Australian Dollar appreciated against its US counterpart on Friday, but with gains still limited by the 55-day SMA.
The September low limited the EUR/JPY's volatility for another day on Friday, but the pair edged lower only 22-pips.
On Friday the bullion decided to continue trading with somewhat bearish bias, but no decisive attempts to breach 55 and 100-day moving averages took place.
Although the Greenback remained strong through most of Friday, the excessive pressure from the weak fundamental data pushed the USD/JPY towards 120.60.
Last Friday the Cable managed to erase all week's losses and even stabilise above 1.54, amid poor US fundamentals.
The March-October uptrend stays strong for the time being, while being able to keep EUR/USD under bearish pressure.
In spite of rather weak US GDP figures yesterday, the NZD/USD showed no signs of edging higher.