EUR/USD Retains its Bullish Bias after its Best Week of the Year
The pair loses some momentum, but sustains its bullish bias after its best week of 2023, which was fueled by the soft CPI inflation report from the United States
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The pair loses some momentum, but sustains its bullish bias after its best week of 2023, which was fueled by the soft CPI inflation report from the United States
Watch today’s US Open for insights on the soft US CPI inflation report that brings the US Dollar down, the watershed pause by the central bank of New Zealand and more
Earlier in the week we tracked the USDOLLAR’s symmetrical triangle pattern, noting that the lower boundary was being tested. FXCM’s USDOLLAR basket has now broken down out of the pattern, close to the apex of the triangle. In conjunction the weekly RSI has dipped below 50, which is on the bearish side of the oscillator. The longer the RSI maintains this position, the greater the likelihood of further downside pressure…
The pair extends its gains to new 2023 highs, after both core and headline US CPI eased significantly in June, which weighs on the greenback as it may constrain the Fed’s aggressiveness
The RBNZ kept rates unchanged after twelve consecutive increases, in watershed moment for a central bank that has been at the forefront of monetary tightening
Watch today’s US Open for commentary on UK’s strong wage growth that keeps pressure on the BoE, China’s deflation concerns, key upcoming events and more
The dollar’s consolidation continues. FXCM’s USDOLLAR basket has drifted sideways in a symmetrical triangle pattern.
The pair extends it 2023 highs as another hot jobs report keeps pressure on the Bank of England for further monetary tightening
Watch today’s US Open for insights on Meta’s Twitter-rival platform, the Fed minutes that sustained expectation for a hike later in the month and more
Watch today’s US Open for insights on the new rate pause by the Reserve Bank of Australia, the latest Sino-Western disputes, key upcoming releases and more
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