British pound and euro dive after the release of weak economic reports
On Wednesday, the euro and British pound approached their five month-lows after the disappointing economic reports…
Forex today: investors are waiting
The US dollar does not show any big movement. The greenback is again near $89.30. Today investors will look at two important data for the USD: Core Retail Sales and Retail Sales (15:30 MT time). If figures are greater than the forecast, the greenback has chances to rise.
- The USD/JPY pair is falling today. According to the poll, public support for Prime Minister Shinzo Abe's Cabinet has declined to 37.0%. Prime Minister’s cabinet is famous for its dovish policy. So, the news from Japan could encourage the yen. The support lies at 107. If the pair breaks it, the next level of the support (50-days MA) will lie at 106.75.
- The EUR/USD pair managed to break the resistance at 1.2347 and moved further. Now the pair is trading near the next resistance at 1.2365, if it is able to break it, the euro has chances to rise to 1.2386. No important data for the euro is anticipated in the next future days.
- The pound has gained momentum. The GBP/USD pair has broken the resistance at 1.4281. Now the pair is climbing to the next important level of 1.4327. No important data for the pound will be released today, however, tomorrow traders will pay attention to average earnings index. The forecast is greater than the previous figure, however, let’s look at the actual one.
- The Australian dollar is rising. However, its strength is not big. The AUD/USD pair is trading below the pivot point of 0.7773. If the pair is able to break this level, it will climb to 0.7797. However, there is a possibility that the AUD/USD pair will turn around soon. The 50-days MA has crossed the 100-days MA upside down signaling the downward movement.
Tomorrow the RBA will announce monetary policy meeting minutes. Let’s look if the aussie will react.
- The US, Britain, and France hit the territory of Syria on Saturday. Despite the escalation of the conflict in Syria, oil is declining. Last week oil reached the highest levels since December 2014. However, Monday is not so positive for the black gold. Brent fell from $72.58 to $71.60 a barrel; WTI that was near $67.80 declined to $66.50. It is a fact that investors started to fix their profit after such an incredible rise. Moreover, the number of oil rigs rose to 815, the highest number since March 2015.
- Bitcoin is declining again. On Monday the cryptocurrency has fallen below $8,000. The fall of the digital currency between the end of March - the beginning of April can be related to the tax season in the US. According to forecasts, after April 17 bitcoin will reach the bottom. The first support lies at $7,700. If bitcoin breaks it, the 200-hours Moving Average will be the next level of the support at $7,550.
There is no change in the direction of other currencies.
That is all for today. Follow markets news with us!
Similar
US dollar index retreats from 5-month maximum
On Tuesday, the evergreen buck traded below the five-month maximum, taking a breather after the soar underpinned by soaring yields on US government bonds as well as easing tensions in US-China trade relations…
Evergreen buck ascends amid weakening of trade fears
On Monday, the greenback kept soaring against the euro, yen as well as many other currencies amid the easing of fears of a trade conflict between China and the United States and a soar in the yield of US Treasuries…
Popular
America will probe German and Japanese car makers over alleged patent violations
America’s on the verge of starting an investigation into whether thermoplastic components utilized in some Japanese as well as German vehicles sold in the country violate its patent laws or not…
Gold edges down toward 3-week minimum after Congress hits spending deal
On Monday, gold headed south in European trade, making its way toward a three-week minimum after American congressional leaders came to an agreement to fund the government via the fall, thus easing worries as for a shutdown of the federal government…
Crude edges down in Asia on Caixin PMI
On Tuesday, crude prices traded weaker because a poll on Chinese manufacturing came in weaker than expected and market participants looked ahead to American inventories on oil as well as refined products to set the overall tone…
Deposit with your local payment systems
