Aussie Dollar Sell-off Could Continue Ahead of RBA Decision

Key Highlights Aussie Dollar/Japanese Yen exchange rate is trading around a crucial support area. Australian Building Permits released by the Australian Bureau of Statistics registered an increase of 2.8% in March 2015, compared to the preceding month. A sharp decline in AUDJPY stalled around an important support trend line that might act as a catalyst moving ahead. ...
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EURUSD above 1.1250 Would Make Case for Larger Rally

Key Highlights EURUSD climbed higher as the US Dollar weakened a lot recently versus a basket of currencies. Euro if manages to break and settle above 1.1250, then it could attempt a run towards 1.1500. US Institute for Supply Management (ISM) Manufacturing Index will be released today, which is expected to come in at 52.0 in April 2015. Technical Analysis Recentl...
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New Zealand Dollar at Clear Risk of Further Losses

Key Highlights New Zealand traded sharply lower against the US dollar, despite the latter one weakening against other currencies. RBNZ Interest Rate Decision announced by the Reserve Bank of New Zealand was a major risk event, which failed to help the Kiwi Dollar. NZDUSD Dived and traded below an important support area of 0.7650. RBNZ Aftermath Earlier during the ...
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US Dollar Crushed Post Disappointing GDP Report

Key Highlights US dollar moved sharply lower against a basket of currencies, as the US GDP came below the expectation. US Gross Domestic Product Annualized reading was 0.2% in the first quarter of 2015, which was a lot lower compared with the expectation of a 1.1% increase. US Gross Domestic Product Price Index decreased by 0.1% in Q1 2015, compared to the forecast of a...
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Aussie Dollar Remains in Clear Uptrend versus US Dollar

Key Highlights Aussie dollar rocketed higher against the US dollar and traded close the 0.8000-40 resistance area. AUDUSD is correcting lower towards 0.7950 where it might find buyers. US Gross Domestic Product Annualized will be released by the US Bureau of Economic Analysis today, which is expected to increase by 1% in Q1 2015. Technical Analysis The AUDUSD pair...
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US Dollar Nosedives as Sentiment Faded

Key Highlights US dollar traded sharply lower against a basket of currencies including the Euro and the Swiss franc, and looks set for more losses. US Consumer Confidence released by the Conference Board declined to 95.2 in April 2015. Richmond Fed Manufacturing Index also fell to -3 in April, compared to the forecast of -2. US S&P/Case-Shiller Home Price Index ma...
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Euro Looks to Break Higher Against Yen

Key Highlights Euro is following a nice bullish trend against the Japanese yen, and looks set to trade higher moving ahead. EURJPY has a major support formed at 129.10-20, which is likely to act as a barrier for sellers. Today, the Japanese Retail Trade report was released by the Ministry of Economy, Trade and Industry, which posted a decline of 9.7% in March 2015, comp...
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Risk of Break Lower Grows In GBPJPY

Key Highlights British Pound managed to clear the 180.00 resistance area against the Japanese yen, but it looks like struggling to hold gains. GBPJPY is trading around an important support area and if it is breached more losses are possible. Today, the UK CBI Industrial Trends Survey will be released by the Confederation of British Industry i.e. expected to increase fro...
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EURUSD – 1.0760 is a Pivot Zone

Key Highlights Euro surged higher recently against the US dollar, but the EURUSD pair was contained around 1.0840 by sellers. EURUSD has a major pivot area around 1.0750-60 area where buyers might take a stand to protect more losses in the near term. Today, the German business sentiment index will be released by the CESifo Group, which is expected to increase from 107.9...
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NZDUSD Nosedives as Sellers Gain Control

Key Highlights New Zealand dollar was crushed against the US dollar after a speech by the Reserve Bank of New Zealand’s Assistant Governor John McDermott. NZDUSD breached the 0.7600 support area to test the 0.7580 hurdle. US Manufacturing Purchasing Managers Index (PMI) will be released by the Markit Economics today, which is expected to post a minor decline to 55.5. ...
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