EUR/USD has lost 10 pips to a new low at 1.3432 and has been driven by selling in the yen cross through 137.00. Bids are next seen at 136.80.
Slowly the buck is making a move through various close levels and so we could be setting up for a move out of the short term ranges. USD/JPY is above the 55 dma and using it as support at 101.80 … Continue reading
Forex headlines for July 24, 2014: US initial jobless claims fall to lowest since 2006 July 2014 US Markit manufacturing PMI flash 56.3 vs 57.5 exp IMF cuts 2014 global growth forecast to 3.4% from 3.7% prior IMF cuts US … Continue reading
Is this the big turn in the New Zealand dollar? It certainly could be. Technically, NZD/USD balked at the 2011 high and even before that it was showing signs of losing momentum. Today’s RBNZ decision added the missing fundamental piece … Continue reading
I’ve been zoned in on the AUD/USD trade for the past few days. I wrote about buying on CPI on Tuesday and then cutting longs yesterday. The pair has given back most of the post-CPI gains as the 0.9400 magnet … Continue reading
State Dept cited by Reuters. The fog of war is certainly getting thicker.
USD/JPY has only been able to grind a few pips higher since the spike on initial jobless claims but the breaks of last week’s high and the 55-dma are important. Better yet if the moves are extended and held into … Continue reading
Renzi said the 2014 growth target of 0.8% will be “very difficult to reach” in a newspaper article. The consensus on Italian growth this year is just 0.3% so that comes as no surprise to the market.
Bloomberg reports that Espirito Santo Financial Group is seeking creditor protection in Luxembourg. It’s the third part of the Espirito Santo empire to crumble along with Rioforte and Espirito Santo International. The market seems to be concluding that Banco Espirito … Continue reading
Does today’s break of 1.70 change the story?
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