Forex News, Page 14

It’s a busy day, with the EUR and USD in the spotlight. It’s also a busy day on the earnings front, which will need to be positive to support risk appetite.

The EUR/USD moved beyond the 1.1180 levels. The safe-haven and AUD/USD pair getting pushed up with rising greenback. Pound sterling hovered around 1.2918 levels amid Brexit deadlock. The loonie pair gained momentum following the US PCE events.

It’s all eyes on personal spending and inflation figures out of the U.S this afternoon. With the FED delivering on Wednesday, will today’s figures influence?

The Aussie Q1 Producer Price Index & Export Price Index reported lower than the market expectation. The Japanese March YoY Housing Starts Data was 4.2% above estimates.

Corporate earnings and U.S GDP numbers will keep the markets busy later today. Risk appetite could be tested if the U.S economy sees sub-2% growth…

The EUR/USD continued to stay intact near its lowest vicinity while the greenback stood at its mirrored position. The safe-haven pair fell flat on the face after BoJ monetary statements. The Pound pair slumped and soared back to the same opening position of the day.

The Bank of Japan downwardly revises growth and inflation forecasts. The focus will now shift to the ECB Economic Bulletin and corporate earnings.

The US Dollar Index touched the pinnacle near 97.85 levels on Euro plunge. EIA reported higher crude inventory data, dragging down the oil prices. The BoC decided to keep the interest rates unchanged. The Aussie pair stood on the back foot amid poor CPI figures.

The main takeaway from the report is that quarterly inflation fell to an annual rate of just 1.42%. This put it well below the bottom of the RBA’s 2-3% medium-term target. With underlying inflation decelerating away from the RBA’s mandated level, the odds of a central bank rate cut over

The Kiwi Dollar and Aussie Dollar take another hit early. The Bank of Canada and corporate earnings could give the Greenback more upside on the day.

Along with the greenback upliftment, the primary rival (EUR/USD) which always benefits from a dollar plunge, dropped significantly. Crude WTI Futures traded at a new high near $66.60 per barrel elevating the commodity-linked CAD. USD/JPY lost 30 pips in a matter of a few minutes.

It’s a mixed start to the day for the majors. While the Pound managed to hold steady, things could change later today as MPs return from recess.

The Market remained silent in the middle of insufficient economic data on Easter Monday. The Cable was down, still sustained near 1.1300 levels. Oil price upsurged on the news suggesting Iranian sanction waiver rejection, making the loonie pair tumble further.

Given the new CPI data, New Zealand economists are now predicting the Reserve Bank will cut its official cash rate from its present record low at 1.75 percent to 1.5 percent in May. Although traders are pricing in an RBA rate cut for later in the year, the employment report

USD/JPY sustained near the 112 levels, staying apathetic over BoJ’s bond purchase cuts. The EUR/USD showed less reaction to the greenback weakness today. USD/RUB marks day’s high near 64.05 levels.

With the major financial markets closed for the day, volumes will be on the lighter side. U.S housing data will be the only numbers for the Dollar to respond to.

The AUD/USD enjoyed a 0.39 percent boost in the Asian session following strong employment data. The Cable underwent extended slump even in the absence of Brexit headlines.

It’s a busy economic calendar. Weak numbers all round and expect the Dollar to claw its way back…

The loonie touched the month low near 1.3272 levels amid influential Canadian CPI figures. GBP/USD doused in plunge as events came out below-expectation. This time, the EIA reported a negative US Crude Inventory data.

China data was skewed to the positive. Whilst failing to spur the equity markets, the EUR and the Aussie Dollar benefited.