GBP/USD Upbeat in the Aftermath of Supportive UK Data
Following three straight negative weeks, the pair regains its poise, with the help of supportive economic releases and BoE commentary
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Following three straight negative weeks, the pair regains its poise, with the help of supportive economic releases and BoE commentary
The Reserve Bank of New Zealand (RBNZ) released its quarterly Survey of expectations, which revealed increased inflation expectations, boosting the Kiwi
UK core inflation printed at 3.4% y/y, higher than the 3.1% forecast. For the Euro, core came in at 2% y/y, less than the consensus of 2.1%. There is also very different communication from each's central bank. At the monetary policy report hearing on Monday, BoE governor, Andrew Bailey, admitted to being "very uneasy' about inflation. Although the BoE did not raise rates at the last meeting, there were two…
Past performance is not an indicator of future results The left chart shows the USDOLLAR daily time frame. It is in an area of strength - between the upper blue and upper red bands. We note that the daily RSI is trending toward overbought but is not there yet (green rectangle). The right chart shows the USDOLLAR hourly time frame. The buck reacted off of resistance at the R1 pivot.…
It took the Dollar almost a month to break above October multi-year highs, but yesterday it managed to reach its highest levels since March 2017, extending them today
Monetary policy differential, recent dovish remarks by the ECB president, hawkish comments from Fed officials and upbeat data from the United States, have put relentless pressure on the pair
The Aussie started off on a good footing, but dovish comments from the governor of the Reserve Bank of Australia (RBA) eventually push it into negative territory
The Eurodollar had opened the week in good mood, but things deteriorated quickly during the US session and in the aftermath of Ms. Lagarde’s dovish remarks
The current week starts with losses, same way the previous ended, despite the fact that it constituted its third straight profitable one and was accompanied by new month highs
In this article: 1. Poor consumer sentiment hurts dollar. 2. The greenback finds support on shorter-term chart. 3. Longer-term chart looks bullish. 4. Shorter-term particpants need to sync with longer-term trend USDOLLAR Charts: Past performance is not an indicator of future results Further to Friday's article, the dollar weakened after an exceptionally poor preliminary University of Michigan Consumer Sentiment number. The print came in at 66.8 against a consensus of…
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