Daily FX Analysis
Forex News: The U.S. Producer Price Index released yesterday matched analysts’ expectations of 0.4%, so the release didn’t generate strong movement. However, the session was controlled in most part by the bears and the pair touched support.
Forex News: Yesterday the economic scene was calm and without any major data releases; however, the pair continued higher at a relatively slow pace and touched the 50 period Exponential Moving Average.
Forex News: The Non-Farm Payrolls released Friday showed a better than expected reading but the previous value was revised lower and this generated a mixed reaction and a perfect bounce at support.
Forex News: The pair continued on a downward path yesterday but price action was mostly choppy due to the lack of economic releases. The speech of ECB President Draghi did not have a strong impact on the single currency.
Forex News: The ADP Non-Farm Employment report came very close to the anticipated value, so the release did not have a major impact. However, the US Dollar continued to drag the pair lower, generating a bearish session with only brief moments of upside movement.
Forex News: Yesterday the pair tried again to break 1.1875 but bounced lower and reached the bottom of the channel. A worse than expected U.S. Services PMI then weakened the US Dollar, creating a brief climb.
Forex News: The US Dollar seems to have recovered from Friday’s weakness, partly aided by better than expected Factory Orders. Also, the U.S. Senate passed the tax-reform bill and this brought a breath of fresh air to the battered greenback.
Forex News: U.S. politics took center stage Friday as Michael Flynn, Trump’s ex-national security adviser pleaded guilty of lying to the FBI regarding his communication with the Russian ambassador. The news weakened the US Dollar and reversed the pair from an earlier drop.
Forex News: The pair showed choppy movement early during yesterday’s session but in the afternoon the US Dollar came under heavy selling pressure and price shot through 1.1875 resistance.