GBPUSD Eyeing Services PMI For Gains

Key Highlights In the last 24 hours the British Pound has surged higher, however it has run into resistance right around the 200 hourly MA, and eased slightly lower in recent hours. UK Services Purchasing Managers Index (PMI) will be released by both the Chartered Institute of Purchasing & Supply and the Markit Economics, and expected to decline from 58.9 to 58.5. G...
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USDCHF – Could finally be Start of US Dollar Weakness?

Key Highlights US Dollar weakened a lot against a few major currencies, including the Swiss franc as US Services PMI came below the forecast. US Services Purchasing Managers Index (PMI) released by Markit Economics declined from 57.8 to 57.4 in April 2015. US ISM Non-Manufacturing Index released by the Institute for Supply Management (ISM) managed to post a rise from 56...
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EURGBP – Euro at Clear Risk of Further Declines

Key Highlights EURGBP pair continues to correct lower from recent high of 0.7418 just shy of the key barrier at 0.7420. Nothing eventful in Euroland data wise today, which means action might be sentiment based. Earlier today in Australia, the RBA reduced interest rates from 2.25% to 2% as forecasted. RBA Interest Rate Decision Today, there was a monster release in...
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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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