Yen Consolidates Post Production Report

Key Highlights Japanese yen was seen consolidating against major currencies after the industrial production report. Japanese Industrial Production released by the Ministry of Economy, Trade and Industry posted a decline of 3.4% in February 2014, which is lower than the last gain of 3.7%. USDJPY trading above the all-important 119.00 support area where sellers might stru...
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USDCAD Facing an Uphill Task Ahead of US GDP

Key Highlights USDCAD pair after falling sharply managed to recover the ground, but faces a major resistance on the way up. USDCAD has a major resistance at 1.2530 where sellers are likely to take a stand. Today, the US Gross Domestic Product Annualized will be released by the US Bureau of Economic Analysis with forecast slated for a 2.4% rise. Technical Analysis ...
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EURUSD Dips Remain Attractive To Buyers

Key Highlights Euro traded higher against the US dollar and breached a crucial resistance at 1.0950. EURUSD is currently consolidating and looks set for a making a move ahead. Today, the German GfK Consumer Confidence i.e. a leading index that measures the level of consumer confidence in economic activity will be released and expected to gain from 9.7 to 9.8. Technic...
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NZDUSD On Back Foot Post Trade Balance Report

Key Highlights NZDUSD was seen trading lower during the Asian session after an important economic release. New Zealand Trade balance report released by Statistics New Zealand registered a trade deficit of $-2.180B in February 2015, compared to the same month a year ago. NZDUSD dropped by around 30 pips to trade towards the 0.7635 support area. New Zealand Trade Balan...
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Can Chinese Manufacturing PMI Dent Risk Sentiment?

Key Highlights US dollar traded lower against many major currencies, as sellers were in control. Chinese HSBC Manufacturing Purchasing Managers Index (PMI) released by the Markit Economics posted a contraction of 49.2 in March 2015. USDCHF pair was seen correcting higher after finding buyers around the 0.9640 support area. Chinese HSBC Manufacturing PMI Earlier du...
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GBPUSD at Potentially Significant Turning Point with RSI

Key Highlights British pound tumbled this past week against the US dollar, as the latter one gained strength. Later, the GBPUSD pair managed to recover ground after finding buyers around 1.4600-40. Today, the CBI Industrial Trends Survey will be released by the Confederation of British Industry in the UK, which is expected to decline from 10 to 9. Technical Analysis ...
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AUDUSD Upside Bias Remains Vulnerable Around 0.7720

Key Highlights Aussie dollar surged higher recently, but failed around a monster resistance to trade back lower in the near term. Reserve Bank of Australia Governor Stevens spoke in front of the American Chamber of Commerce in Australia during the Asian session, which helped AUDUSD to hold the ground. AUDUSD has a major resistance on the upside at 0.7720. RBA Steven...
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Solid New Zealand GDP Increasing 0.8% Pushes NZDUSD Higher

Key Highlights US dollar weakened a lot overnight as the fed stayed away from aggressive stance for hiking rates. In the New Zealand, the Gross Domestic Product was released by the Statistics New Zealand posted an increase of 0.8% in the fourth quarter of 2014. NZDUSD breached a major resistance of 0.7440, which might now act as a support. New Zealand GDP Earlier ...
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USDJPY Facing Hurdle Around 121.50 Ahead of Fed Meeting

Key Highlights US dollar continued to trade in the positive territory, but struggling to clear an important resistance at 121.50. Fed interest rate decision is a major release lined up today, which is likely to ignite moves in the US dollar. USDJPY has a support around 121.10 and resistance ahead at 121.50. Technical Analysis The USDJPY pair continuously finding b...
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USDCAD Continues To Push Higher Breaking Above 1.28

Key Highlights US dollar continued to trade higher against the Canadian dollar, and eyes a break above 1.28. In the US, the Net Long-Term TIC Flows was released by the US Department of Treasury, which came in at $-27.2B in January 2015. USDCAD has a support around 1.2730 and resistance ahead at 1.2800-20. US Net Long-Term TIC Flows Recently, the US Net Long-Term T...
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