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The pair enters its third straight losing day and sheds more than 0.5% on the week, having taken a double hit from high US CPI Inflation yesterday and poor Employment data from Australia today
US Consumer Price Index soared in October, with the Core reading rising to 4.6% y/y, compared to 4.0% in September. The pair’s original reaction was lower, as conventional wisdom dictates, but it quickly reacted higher
The pair is sensitive to the US Bond Yields movements and today’s rise in the 10-Year one, fuels its recovery, along with broader cautious sentiment that seems to also benefit the US Dollar more
The pair struggled for direction yesterday as markets lacked conviction and risk tones were mixed, but today it slides, as risk-off mood prevailed during the Asia-Pacific session
Further to an earlier analysis, GBPUSD has started to lose its upside momentum. Past performance is not an indicator of future results. The right chart shows the daily GBPUSD time frame. Here, price is in the weak area between the lower blue and red bands. The daily RSI is also on the weak side of 50. The right chart shows the hourly times frame. Here, price has rallied to the…
Last month was its first negative one since May and despite a solid start in November, the pair is range-bound this week and lacks conviction, as investors appear to wait for the US CPI inflation data on Wednesday
Yesterday's USDOLLAR article indicated that the primary trend of the greenback is up. Today we zoom in on the price action. Past performance is not an indicator of future results. The left chart shows the USDOLLAR daily time frame. Price remains in the strong area between the upper blue and upper red bands. Moreover, the daily RSI is on the bullish side of 50. The right chart shows the hourly…
The Eurodollar started the day on a solid footing, following its post-NFP’s rebound, but it comes under pressure during the start of the European session
The US Dollar is weighed today by the decline in US 10Year Yields, but the Aussie struggles to benefit
The pair started the week on the back foot and as the US markets open, it faces more selling pressure and deepens its correction, after the multiyear highs of October
Past performance is not an indicator of future results Source: www.tradingview.com Last week's decision by the BoE to hold rates steady surprised the market and GBPUSD was heavily sold. The left chart shows the daily timeframe. Here, GBPUSD is in the weak area – between the lower blue and lower red bands. The right chart shows the hourly timeframe. Here, cable has managed to stabilise in a sideways pattern (red…
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