USDCAD Next Leg Lower Underway

Key Highlights US Dollar moved lower against the Canadian Dollar and broke a crucial support zone. Canadian Building Permits released by the Statistics Canada increased by 11.6% in April 2015, compared with the preceding month. Canadian Housing Starts report was also released, which posted a reading of 201.7K, compared with the forecast of 185.0K in May 2015. USDCAD ...
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EURUSD Bull Run Has Come to an End Ahead of DEU Trade Report

Key Highlights Euro lost most of its gains this past week and ended the week lower against the US Dollar. EURUSD broke an important support area, which suggests that sellers are in control. Today, the German Trade Balance report will be released by the Statistisches Bundesamt Deutschland, which might ignite moves in EURUSD. In Japan earlier today, the Gross Domestic P...
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AUDNZD Targets Fresh Lows

Key Highlights New Zealand Dollar gained traction recently against the Aussie Dollar, and looks set for more gains. AUDNZD pair is trading around the key support area, which if broken might ignite healthy losses. Australian HIA/AiG Performance of Construction Index released by the Australian Industry Group and the Housing Industry Association increased from 47.0 to 47.8...
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A downward drift for AUDUSD

Key Highlights Australian Dollar after trading towards 0.7800 against the US Dollar failed to maintain gains and looks set for a move lower. In the US, the Challenger Job Cuts was released by Challenger, Grey & Christmas, which posted a reading of 41.034K in May 2015, lower compared with the last reading of 61.582K. US Initial Jobless Claims were also published by t...
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GBPUSD Resilience Gives us Pause, but not out of Woods Yet

Key Highlights British Pound managed to trade above a major resistance versus the US Dollar and looks set for more upsides. GBPUSD has an intermediate resistance at 1.5370-80 and support at 1.5280. In Australia, the Retail Sales released by the Australian Bureau of Statistics posted no change in May 2015 whereas the market was expecting a rise of 0.4%. GBPUSD – Tec...
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USDCHF Remains as Risk of Declines

Key Highlights US Dollar struggled during the past couple of sessions against currencies such as the Euro and the Swiss Franc. USDCHF is trading lower with support at 0.9300, which if breached might ignite more losses. US Services Purchasing Managers Index (PMI) released by Markit Economics posted a decline from the last reading of 56.4 to 56.2 in May 2015. US Servic...
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GBPJPY Climbed Higher– 190.00 is Significant Resistance

Key Highlights British Pound climbed higher against the Japanese Yen, but facing an uphill task around 190.00. UK Consumer Credit report will be released by the Bank of England, which can cause swing moves in GBPUSD and GBPJPY. In New Zealand, the Terms of Trade Index released by the Statistics New Zealand posted an increase of 1.5% in Q1 versus 1.7% forecast. GBPJPY...
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USDJPY Hit Fresh Highs Post ISM Manufacturing PMI

Key Highlights US dollar rocketed higher against the Japanese Yen after the US ISM Manufacturing PMI release. US Institute for Supply Management (ISM) Manufacturing PMI rose to 52.8 in May 2015, compared to April’s reading of 51.5. US Manufacturing Purchasing Managers Index (PMI) released by the Markit Economics missed the forecast by a minor margin and came in at 54....
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EURUSD Is at a Critical Juncture

Key Highlights Euro after trading as low as 1.0810 moved back higher against the US Dollar. A nice bullish trend line is formed, which is acting as a major support for the EURUSD pair. Chinese HSBC Manufacturing Purchasing Managers Index (PMI) released by the Markit Economics came in at 49.2 in May 2015, up from the last reading of 49.1. EURUSD – Technical Analysis...
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NZDUSD – New Zealand Dollar Could Make a Sustained Move Lower

Key Highlights New Zealand Dollar weakened versus the US Dollar, and looks poised for more downsides in the short term. New Zealand Business Confidence released by the ANZ fell sharply from 30.2 to 15.7 in April 2015. In Australia, the HIA New Home Sales released by the Housing Industry Association posted an increase of 0.6% in April 2015, compared with the last gain of...
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