EUR/USD fades the spike to weekly highs around 1.1180.

EUR/USD clinches fresh tops in the 1.1180/85 band.Germany Unemployment Change dropped less than estimated. US PCE, weekly Claims next of importance in the NA session. EUR/USD embarked on a corrective downside move soon after hitting fresh weekly highs in the 1.1180/85 band on Thursday. EUR/USD looks to USD, geopolitics EUR/USD now comes under some sellingContinue reading “EUR/USD fades the spike to weekly highs around 1.1180.”

GBP/USD Lacks Momentum Ahead Of U.S. Jobs Data.

GBP/USD is trading in the 1.3575 – 1.3600 range.British Pound Is Mostly Flat Against U.S. Dollar.GBP/USD has recently made another attempt to settle above the resistance at 1.3600 but failed to develop sufficient upside momentum and pulled back towards 1.3575 while the U.S. dollar gained ground against a broad basket of currencies. The U.S. DollarContinue reading “GBP/USD Lacks Momentum Ahead Of U.S. Jobs Data.”

GBP/USD retreats from daily highs to 1.3520s amid a risk-off market mood

The British pound begins the week on the wrong foot, spurred by geopolitical jitters and Brexit.The market mood is downbeat as Ukraine-Russian tensions keep arising. Odds of the BoE’s hiking 50 bps are at 50%, per money market futures. Money market futures have priced in 100 bps of rate hikes of the Federal Reserve.The GBP/USDContinue reading “GBP/USD retreats from daily highs to 1.3520s amid a risk-off market mood”

EUR/USD Reaction to 1.1377 Pivot Sets the Early Tone.

EURUSD.The direction of the EUR/USD on Tuesday is likely to be determined by trader reaction to the pivot at 1.1377.The Euro is edging lower against the U.S. Dollar early Tuesday after declining the previous session as investors continued to demand greenbacks despite chatter that the Federal Reserve tightening plans were largely priced in. On Friday,Continue reading “EUR/USD Reaction to 1.1377 Pivot Sets the Early Tone.”