GBPUSD Rebounds On Better Than Expected UK Wages And Jobs Data
Over the past week and a half, market participants have been forced to reduce their Bank of England rate hike expectations due to the recent soft patch in UK economic data.
unemployment rate
Eurozone inflation back at 2%
Inflation has made a dramatic return in the Eurozone. In February, the headline CPI measure rose to 2.0% year-over-year, accelerating from 1.8% in January.
ECB’s QE Working Its Magic…Finally
The European Central Bank’s large bond buying programme appears to be finally working its magic. Inflation is on the rise, unemployment is falling and the economic bloc is – believe it or not – growing, all thanks to years of zero interest rates, several versions of bond purchases programme and a resulting weak currency.
USDJPY Short-Term Correction Nov 28, 2016
USDJPY is trending higher on its 1-hour chart, moving above an ascending trend line connecting the latest lows of price action. Price is currently testing this support area, which lines up with the 61.8% Fibonacci retracement level and the 100 SMA dynamic inflection point.
AUDUSD Ascending Channel Apr 4, 2016
AUDUSD has been trending higher on its short-term time frames, moving inside an ascending channel visible on the 1-hour and 4-hour charts. Price is currently testing the top of the channel around the .7700 major psychological level and might be due for a drop towards support.
Breaking News – Non-Farm Payroll
Novembers Non-Farm Payroll Results.
The Argument Against A Rate Hike
The Federal Reserve’s upcoming December meeting is likely to result in an interest rate hike; the majority of analysts are expecting the bank to make a move.
Aussie Dollar Bounces Back On RBA Rhetoric
t only took a shift in rhetoric from RBA Gov Glen Stevens to upset the Aussie dollar bears whose best laid plans went sent completely awry.
GBPUSD Trend Line July 2, 2015
GBPUSD is currently testing the rising trend line connecting the recent lows of price action on the 4-hour time frame. The pair is also drawing support at the 50% Fibonacci retracement level and the 100 SMA.
A Double Wammy for the Aussie dollar
Yesterday’s attempt by the Aussie dollar to break out from the current congestion with a move higher, was promptly snuffed out today, as poor employment data shocked the markets, sending the currency lower against the US dollar.