Currencies

Read the daily market update as we head towards the European open, to get some of the latest developments, main market moves and upcoming events

The pair made as impressive start to the week, as UK political turmoil weighed on the Pound, but today it is on the back foot, ahead of central bank activity

GBPUSD daily threatens to move out of its weak area, between the lower blue and red bands, and into the neutral zone (blue arrow). The red bands have expanded with the currency pair's downside swing (green rectangles). We note that yesterday saw a long blue candle, with follow-through today. Given the increase in volatility from the broader downside move, this rally may provide an opportunity. To this end, we regard…

The EURUSD daily chart is weak, between the lower blue and red bands. Moreover, the red bands have expanded with the currency pair's downside swing (green rectangles). Yesterday saw a long blue candle, and there has been some follow-through today, leaving the price at the border between the weak and neutral areas (blue arrow). Given the increase in volatility from the broader downside move, this rally may provide an opportunity.…

Read the daily market update as we head towards the European open, to get some of the latest developments, main market moves and upcoming events

Australia’s central bank concluded its asset purchase program, as was largely anticipated, but pushed back against rate hikes

Longer-Term Chart & Correlation The charts below show the following: * The top chart is the trimmed PCE inflation rate. * The second chart is the RSI of the trimmed PCE inflation rate. * The third chart is FXCM's USDOLLAR basket. * The fourth chart is a 12-month rolling correlation coefficient of trimmed PCE inflation to the USDOLLAR. Source:www.tradingview.com The red dashed vertical shows when core trimmed PCE, and the…

The pair slumped during the previous week due to the Dollar’s Fed-fueled strength, but the new one begins with difficulties for the greenback

Read the daily market update as we head towards the European open, to get some of the latest developments, main market moves and upcoming events

This was a volatile week, during which the US Dollar strengthened from the Fed’s aggressive tightening prospects, while geopolitical tensions, mostly in eastern Europe, weighed on sentiment

The pair started the day on the front foot after two losing days, but gives up its gains during the European hours and heads towards another negative week