The USD traded flat against most of the majors, historic correlation between DJIA Vs DX suggests the major trend is still bearish in the Dollar Index though short covering can be expected; only weekly close above 76.70...
The Aussie has been outperforming last week. The high yield currency took advantage of the renewed risk appetite on a confused market driven by macro-economic events.
The USD/CAD has been under intense pressure in the beginning of last week testing and breaking below its multi-year low at 0,9450 to print a new fresh low at 0,9425.
After a break below its daily range the pair has been consolidating last week despite the strong pressure on the US Dollar.
The pair is now following a clear downtrend and we might see additional pressure going forward.
The GPB/USD has been well bid after a bounce on top of key 1,60 level. The market has validated a bullish structure which now potentially exposes 1,66 (weekly bollinger band).
The EUR/USD has broken and closed above 1,4280 which validates a cup&handle pattern. But the pair is currently testing a strong descending trendline passing by 2 important lower tops in June and July.
The USD depreciated for the second trading session against the Euro, the Cable and the Aussie Dollar whereas traded flat against the Japanese Yen and the Swiss Franc. It seems that the all the eyes are Euro...
European Summit expectations increase the demand for the high-risk assets.
Crude Oil prices rose yesterday, reaching as high as $99.60 per barrel in late trading. Growth differentials between the Atlantic states have risen into view this week while manufacturing output and service data revealed mild weakness in...
