FTUKcom

FTUKcom

EUR/USD upside remains active. The pair looks to the end day around its 21 DMA (1.2180) but nonetheless nearer to the top its tighter 1.2146-90 range. Looking ahead, tomorrow’s German ZEW survey will likely gain focus in early hours whilst BoE’s Chief Economist Haldane is ready to make an appearance close to the US cash open. Relatively flat intraday around the...

FTUKcom

The Dollar is mixed vs major counterparts, but maintaining recovery momentum after extending gains in wake of yesterday’s largely supportive US releases, and now looking at NFP as further validation or another fall from grace as the headline number disappoints again. The index made a firm break above 90.000 on Wednesday and is now losing strength. 89.00 is the...

FTUKcom

USD/CAD is trading defensively under 1.2100 irrespective of ongoing strength in crude ahead of Canada’s payrolls showdown with the US. NFP pushed it the right direction, down we go from here! 1.2000... Then 1.1900... Hope everyone has had a good week! Drop your comments below!

FTUKcom

The Pound derived strength at the expense of its US counterpart, albeit with extra impetus from strong oil prices, Nationwide hpi and hawkish rhetoric via BoE’s Ramsden in the Guardian, though Cable came up against a barrier around 1.4250 and lost grip of the 1.4200 handle even before a downgrade to the final manufacturing PMI. From here we are looking for a short...

FTUKcom

Prior chart: A sparse UK agenda in terms of economic releases following the deluge last week saw conflicting news in the form of weakness in CBI distributive trades, but strength in the Lloyds business barometer. However, the big domestic event came from the BoE, and not in testimony by Governor Bailey and several MPC members to the TSC on May’s MPR....

FTUKcom

90.000 could well be unsustainable for the index short-term, but the Greenback has retested some psychological levels vs the Yen and Gold for example, around 109.00 and Usd 1900/oz respectively, as it attempts to stabilise again from todays session. The latest recovery began with a bounce from 89.584 vs yesterday’s 89.533 base and continued after an early dovish...

FTUKcom

Pound looking relatively strong in advance of CBI UK distributive trades and a speech from BoE’s . The Aussie is only just maintaining its GBP peer respectively, albeit off best levels in wake of somewhat mixed data for the former via preliminary trade, weekly payrolls and wages, before attention switches to the RBA on Wednesday with option pricing implying a 45...

FTUKcom

Loonie hand back gains vs their US counterpart following firm rebounds yesterday. UUSD/CAD is hovering below 1.2050 in advance of Canadian retail sales. The Buck remains fundamentally, technically and even psychologically weak as the DXY languishes below 90.000, but the index is trying to resist another bout of selling pressure that could yet culminate in further...

FTUKcom

The Pound maybe feeling the weight of another downturn in Brent and WTI, as Cable seems reluctant or just unable to extract much from the broad Buck wane within a 1.4141-01 range and Sterling is also losing out to the Euro in cross terms with EUR/GBP forming a firmer base on the 0.8600 handle. Overall further upside can be expected with eyes on the 1.4250 level...

FTUKcom

Overall the next immediate target to the upside is $1,940-50 region before we can then look at $2,000 which is not to far away. The dollar may have reached the bounds of its recovery limits after the index peered above 90.000, but could not sustain momentum long enough to establish a platform in the absence of any fundamental catalyst or reason in contrast to...

FTUKcom

Prior chart: The Yen has held comfortably above 133.00 after recently hitting its target. Euro looking weaker with expected drop in Q1 GDP. Further upside will be expected from this level.

FTUKcom

The Dollar is slightly mixed against G10 currencies, but lagging vs precious and base metals, like Gold, after the latter partly due to strengthened forecasts of strike action at BHP’s Spence and Escondida mines in Chile after the rejection of a contract offer. Conversely, spot bullion has taken advantage of softer US Treasury yields and a flatter curve that are...

FTUKcom

The Aussie has overcome another pretty sharp reversal in copper and iron ore overnight to bounce firmly from the low 0.7700 area vs its US counterpart, but may find the half round number above tough to breach again given 1.3 bn option expiry interest rolling off at the NY cut. More bullish price action incoming...

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Both looking susceptible to steeper depreciation vs their US rival, with the Euro only just recovering from a stop-chase through the 18 DMA (1.2060) in time to avoid more sell orders sitting at or beneath 1.2050. Nevertheless, EUR/USD also faces heavy and layered option expiry interest from the round number above to 1.2150, including 1.3 bn at 1.2100, 1 bn from...

FTUKcom

Please don't forget to give us a like and follow if you find our analysis useful. Prior chart: The dollar appears to be getting a second wind after big beats in US headline and core US inflation, even allowing for base effects that implied an upside bias to market expectations, but initial gains were swiftly erased and reversed to leave the index languishing...

FTUKcom

Prior Chart: The Pound unwinds some of its all round appreciation, though keeps its head above water amidst robust UK consumption surveys and confirmation from PM Johnson that the 3rd phase of lifting lockdown restrictions will go ahead next Monday. Elsewhere, the GBP/JPY has reached our upside target of 154.00 with pinpoint accuracy. Another 200 pips bagged....

FTUKcom

Before: Sterling is sharply outperforming in similar vain to this time last Monday when most in the UK where absent due to the early May Day Bank holiday, and several factors are aligning to propel the Pound beyond key or psychological levels against its major counterparts. Indeed, Cable has breached the 1.4000 mark that has been impervious since late...

FTUKcom

Hello everyone, if you like the idea, do not forget to support with a like and follow. Prior chart: After a nice break above the $1,780, we have came up and reach the first upside target of 400 pips at $1,820. I have also included the 200 MA to show the final touch position. More upside is expected on this one! NFP out today so trade safe and stay tuned for...