Key risk events today: EU Economic Forecasts; US ADP Non-Farm Employment Change. (Previous analysis as well as outside sources – italics). EUR/USD: EUR/USD found itself under significant pressure Tuesday following the German Constitutional Court’s ruling on the ECB purchase programme. 1.09 ceded ground on the H4 timeframe, as did trend line support, taken from the … Continue reading Wednesday 6th May: Dollar Trades Higher Ahead of ADP Employment
Global Markets: Asian Stock Markets : Hang Seng up 1.04%, ASX up 1.64% Commodities : Gold at $1703.10 (-0.60%), Silver at $14.84 (+0.28%), Brent Oil at $29.18 (+7.28%), WTI Oil at $22.55 (+10.59%) Rates : US 10-year yield at 0.670, UK 10-year yield at 0.241, Germany 10-year yield at -0.547 News & Data: (EUR) Spanish … Continue reading Tuesday 5th May: Asian markets gain as lockdowns ease.
Key risk events today: RBA Cash Rate and Rate Statement; German Constitutional Court Ruling; UK Final Services PMI; Canada Trade Balance; US ISM Non-Manufacturing PMI; New Zealand Employment Change q/q and Unemployment Rate. (Previous analysis as well as outside sources – italics). EUR/USD: EUR/USD exhibited a clear defensive play Monday as the US dollar index, … Continue reading Tuesday 5th May: Technical Outlook and Review
Global Markets: Asian Stock Markets : Hang Seng down 4.47%, ASX up 1.41% Commodities : Gold at $1713.90 (+0.76%), Silver at $15.07 (+0.88%), Brent Oil at $25.77 (-2.53%), WTI Oil at $18.37 (-7.13%) Rates : US 10-year yield at 0.615, UK 10-year yield at 0.242, Germany 10-year yield at -0.562 News & Data: (USD) Wards … Continue reading Monday 4th May: Asian markets lose on Trump’s comments on virus origins
EUR/USD witnessed a resurgence of bidding last week, establishing a robust position north of the 2016 yearly opening level at 1.0873. Should the single currency remain on the winning side of the table going forward, the 2020 yearly opening level from 1.1222 could eventually put in an appearance, followed by Quasimodo resistance at 1.1239.
