Forex news for trading for 18 August 2016
- Deutsche Bank in trouble again
- Crude oil futures settle at $48.22
- A technical look at the NDX index
- USDCHF trades at 8 week lows.
- Merkel: I'd like to be the first to lift Russian sanctions but...
- Federal Reserve launches a Facebook page
- My view hasn't chan ged since Tuesday says Dudley
- Fed's Dudley: Strong jobs allayed fears about a slowdown
- Forex technical analysis: AUDUSD up on the day but gives back employment gains
- USDJPY moves below 100.000 again.
- Forex technical analysis: EURUSD inches higher. Trades above 100 week MA
- Aug Philly Fed business outlook +2.0 vs +2.0 expected
- US initial jobless claims 262k vs 265k exp
- July 2016 US leading index 0.4% vs 0.3% exp m/m
It's been a tough day for the US$ as markets chew over last night's FOMC Minutes while better UK retail sales data earlier has put a bid under the pound.
A European morning session saw USDJPY rally strongly from 99.73 lows to 100.50 only to run into fresh supply and general yen demand. Currently back to 99.87 the retreat has put a general USD-neg sentiment under other pairs and that's given support to GBPUSD into 1.3120 and EURUSD at 1.3130.. Similar trend/support on other core pairs but rallies tempered by JPY-pair supply in the rallies.
EURGBP had a look at 0.8585 support before NA desks got going and we're currently back testing pivot levels into 0.8630 which is helping to cap cable rallies still.
AUDUSD found support into the pivotal 0.7660 area again but has yet to breach 0.7700 while USDCAD has been on the backfoot down to 1.2770 from 1.2830 on a USD-neg/stronger oil double whammy.
US Fed's Dudley offered some bullish tones to little avail. Fed's Williams up speaking shortly.
Oil had a good session as USD retreated and both Brent and WTI currently sit just below session highs.
Let's see now what Asia makes of it all.
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