Forex Daily Recap – Fiber Slipped 0.37% with Surprise ZEW Number

The Brexit deadlock continued to trouble the Cable. Crude prices jumped for the second time in this week following a drone attack on the Saudi State Oil Company.
Nikhil Khandelwal
Bull Bears


The Cable continued to lose ground amid weak GBP-specific data and Brexit chaos. During the middle of the day, there was a Gap-Down movement showing a huge selling pressure. The GBP/USD pair dropped near its monthly low near 1.2907 levels. All the economic events specific to the GBP came out below the consensus estimates except the March ILO

Unemployment data. Also, the April UK Claimant Count Change reported near 24.7K over the market expectations of 24.2K. Also, UK March Average Earnings Including Bonus (3Mo/Yr) came out near 3.2% over 3.4% estimates. On the Brexit front, things continued to slow progress. UK Theresa May and Corbyn have scheduled to meet shortly.


USDCAD 60 Min 14 May 2019

The Loonie remained capped under the active resistance line near 1.3488 levels amid a light calendar day. During the Asian trading session, the pair had fallen to 1.3454 levels over crude upsurge. The Crude Oil West Texas Intermediate (WTI) Futures was 2.29% up. The Oil prices soared as reports suggested a second attack on a Saudi State Oil Company today. This time, the attacks got identified as drone attacks. Serious supply tensions got waved in the market elevating the crude prices. The changes in the Crude prices have an inverse impact on the Loonie. Hence, the USD/CAD pair dropped twice near 1.3457 levels during the day.


The safe-haven pair remained on recovery mode today, after losing 60 pips yesterday. The pair started trading from 109.17 levels and further got uplifted to 109.75 levels. In the Asian session, the pair managed to stay above the support point near 109.55 levels. But in the European session, the pair suffered a major pullback and marked a fresh low near 109.51 levels.

However, the pair grabbed some quick upward momentum and was hovering near 109.60 levels later. Recent reports suggested that Trump will inform about the final decision over US-Sino trade deadlock in three to four weeks. This news offered the investors to get relief from trade war tensions. The American Dollar got benefited out of Trump’s statements and thereby elevating the USD/JPY pair. Meanwhile, the US economic data came out bearish than anticipated. The pair went slightly down after these indexes got released in the European session.


The Euro pair weakened after the Euro economic data came out bearish. The pair opened up near 1.1233 levels and remained consolidated near 1.1240 levels. After marking a fresh high near 1.1243 levels the pair took a downturn and reached to 1.1210 levels laterwards. At 15:00 GMT the pair hovered around 1.1210 levels. Today, the ZEW May Economic Sentiment for Germany and EMU, recorded negative figures. The consensus had estimated the Deutschland’s investor sentiment to go up near positive 5 percent but came out as negative 2.1 percent.

EURUSD 1 Day 14 May 2019

The EUR/USD pair suffered plunge subsequently to this bearish reports. On the USD front, the Greenback improved as the market observed some stabilizing news over US-China trade talks. Lately, the trade tensions got escalated after China retaliates over the US-led tariffs hike. While today the US President discussed having settlements with China over the ongoing Trade dispute. His opinions have cooled the growing market tensions and allowed the Green money to uplift. The improving Greenback resulted in the plunge in the EUR/USD pair.

Don't miss a thing!

Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Latest Articles

See All

Expand Your Knowledge

See All

Top Promotions

Top Brokers

The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.
This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.