|Day's range||0.993 - 0.998|
|52-week range||0.9189 - 1.0127|
Today, in the EU markets’ focus is the ECB meeting, which often causes strong volatility. Mario Draghi is expected to confirm that the Central Bank will finally stop buying assets by the end of this year.
Considering a month long symmetrical triangle formation on EURUSD chart, the pair is less likely to register much momentum till it trades within the present range of 1.1305 and the 1.1435. Though, comparative strength of the US Dollar favor brighter chances of the pair’s decline than the otherwise, which in-turn highlights the importance of 1.1260 and the 1.1215 supports after 1.1305 break. In case prices continue drowning past-1.1215, the 1.1110 & 1.1080 may become Bears’ favorites. Meanwhile, an upside break of 1.1435 can trigger the pair’s rise to 1. ...
By Saqib Iqbal Ahmed NEW YORK (Reuters) - The dollar weakened against major peers on Thursday as U.S. Treasury yields fell and traders scaled back expectations on the number of rate hikes the Federal Reserve would implement amid weakening economic data and heightened market volatility. The benchmark 10-year yield hit a three-month trough of 2.826 percent. It was last down over 5 basis points at 2.867 percent. The euro was 0.26 percent higher against the dollar at $1.1373. "The problem for the dollar is really a decline in U.S. ...
With nearly 100-pip range between 1.0010-05 and 0.9920-15 aptly limiting the USDCHF moves, the pair is presently expected to revisit the 0.9950 rest-point ahead of testing the 0.9915 range-support for one more time. However, pair’s drop beneath the 0.9915 can quickly fetch it to 0.9885 and the 0.9860 marks ahead of highlighting the 0.9845 as a support. Meanwhile, an upside clearance of 1.0010 could propel the quote to 1.0050 and then to the 1.0080 resistances whereas pair’s successful trading beyond 1.0080 enables it to aim for 1.0100 and the 1.0130 numbers to north.EUR/CHF
Weekly closing beyond 1.0045 wasn’t enough for the USDCHF to register its strength as 1.0105-15 horizontal-region still stands tall to challenge the buyers, which if broken can escalate the pair’s rise to 1.0170 and the 1.0215 prior to highlighting the 1.0250 upside barrier. Given the successful price rally above 1.0250, the 1.0340 and the 61.8% FE level of 1.0550 may gain market attention. Alternatively, a W1 close beneath the 1.0045 could recall the 0.9980 and the 0.9900 as on the chart. During the pair’s extended downturn below 0.9900, the 0. ...
Recent price action in the U.S. dollar is showing another attempt to make a clear break above parity against the Swiss franc. On several occasions, traders bullish on the USD/CHF have failed in their attempts to move into these areas. Since last November, this is the fourth time the USD/CHF currency pair has tried to overcome these resistance levels. But most of the evidence suggests that this most recent attempt could be stronger in terms of its directional influence on the longer-term timeframes. All of this prior activity has created a triple-top formation on the daily charts, and so a clear break higher from current levels would mark a highly bullish event for those long USD/CHF.
In this piece, we will describe the situation on the EURCHF, where a week ago, we were waiting for the buy signal. Usually, you need to wait for the proper signal. The price broke the lower line of the flag and the short-term horizontal support.
During the first part of the day, we could experience a significant weakness of the Greenback and the second half of the day, brought us a proper rise in the value of the American currency. Thanks to this, DXY, Dollar Index is giving us a sweet buy signal. A similar setup can be seen on the USDCHF chart, where the price created the Head and Shoulders pattern.
Generally speaking, October for the EUR was pretty bad. We are not talking here only about the main pair (with the USD) but about the broad market. The fortune may be changing though. The pair, where we can see the ray of light is the EURCHF.EURCHF Daily Chart
Early-month risk-on moves recently helped the AUD to recover some of its latest losses and AUDUSD is no exception to this as it crossed 0.7145-40 region; however, the pair needs to sustain the breakout in order to aim for 0.7200 and the 0.7235-40 resistance-area. Given the quote continue rising past-0.7240, the 0.7260 & 0.7300 are likely following numbers to appear on the Bulls’ radar to target. If at all prices fail to hold their strength and slide beneath 0.7140, the 0.7120 & 0.7100 can come-back on the chart. Assuming the pair’s extended downturn below 0.7100, the 0. ...
In order to understand the risks presented by the Italian economy, it is important to recognize why the situation in 2018 is so familiar to what we witnessed in 2011. Can Italy be the next Greece?
Net income stood at 424 million Swiss francs, a 74 percent increase from a year ago. However, the numbers missed analysts' forecast of 449 million Swiss francs, according to data from Reuters.
Failure to cross 100-day SMA seems fetching the EURUSD towards 1.1300-1.1285 support-zone, which if broken highlights the importance of 1.1210 rest-point. In case the pair continue trading southwards past-1.1210, the 1.1180 and the 1.1100 are likely following numbers to appear on the chart. Alternatively, the 1.1430, the 1.1500 and the 1.1530 may keep restricting the pair’s near-term upside, breaking which 100-day SMA level of 1.1600 can please the buyers. Assuming the pair’s D1 close beyond 1.1600, the 1.1655-60 and the 1.1750 could play their roles of resistances.GBP/USD
Swiss online pharmacy Zur Rose Group said it was proposing an ordinary capital increase of 200 million Swiss francs(156.15 million pounds)to finance its recently announced acquisition of the mail-order activities of German peer medpex. The capital increase will be conducted through a rights offering and existing shareholders will receive rights pro-rata to their shareholding to subscribe for the new shares, said Zur Rose, which listed on the Swiss stock exchange last year. Morgan Stanley and UBS are acting as joint global coordinators and joint bookrunners on the proposed rights offering, which is fully underwritten by the two banks, the company said.
The 1.6 PCE reading puts inflation back below the Fed’s 2-percent goal which means it may alter its plans to raise rates in December or as many as three times in 2019. Some analysts are saying the Fed rate hikes may become more gradual. Instead of raising rates once a quarter, it may now decide to raise rates once every three meeting.
Money manager GAM Holding AG suffered a 17.7 billion Swiss francs (14 billion pounds)slump in the value of its assets after the suspension of a top asset manager prompted investors to withdraw billions of francs from its funds, the company said on Tuesday. Investors withdrew a net 8.1 billion francs in the third quarter after the group suspended absolute return bond fund (ARBF) director Tim Haywood while it investigated possible misconduct. It also liquidated 7.7 billion francs in funds he managed, and together with usual market effects, group assets under management fell overall by 17.7 billion francs to 146.1 billion as at Sept. 30.
U.S.-China trade relations remain the focus for traders. Things heated up somewhat on Monday when a Chinese official told American Investors at a meeting that Beijing did not “fear” a trade war with Washington.
Adding to the dollar’s weakness was the consolidation of Treasury yields. After yields surged to multi-year highs last week, the rise in yields has subsided, reducing demand for the dollar. Gold improved on Tuesday, but the market posted an inside move, which typically indicates investor indecision and impending volatility. Traders said the gains were related to short-covering. New longs appeared to be scarce since the rally in the equity markets forced them to re-evaluate their reasons for being long. U.S. West Texas Intermediate and international-benchmark Brent crude oil futures settled higher on Tuesday after the American Petroleum Institute reported a surprise crude oil draw.
A Commerce Department report on Monday showed that U.S. retail sales barely rose in September as a rebound in motor vehicle purchases was offset by the biggest drop in spending at restaurants and bars in nearly two years.
Investing.com - Wall Street opened lower on Monday as concerns over geopolitical tensions related to Saudi Arabia and a weak reading on U.S. retail sales added to caution seen in the previous week.
Investing.com - U.S. futures pointed to a lower open on Monday as a combination of concerns over rising U.S. yields, trade conflict and rising geopolitical risks weighed on market sentiment.
In spite of bouncing from the three-week long support-line, USDCHF couldn’t sustain its U-turn and is likely to revisit the 0.9860 rest-point, breaking which 0.9825 & 0.9800 could come back on the chart. Though, the 0.9770 horizontal-line may confine the pair’s declines past-0.9800, if not then 0.9755 & 0.9700 can appear in the sellers radar. In case the quote surpasses 0.9900 immediate resistance, a month old downward slanting TL, at 0.9955, followed by the 0.9985 and the 1.0000 round-figure, might please buyers. Moreover, pair’s successful trading beyond 1. ...
Swiss speciality chemicals maker Clariant expects to raise 1 to 2 billion Swiss francs (1.5 billion pounds) from selling portions of its plastics and coatings business, Chief Executive Hariolf Kottmann said in an interview with the Tages-Anzeiger newspaper. Clariant and 25 percent-shareholder Saudi Basic Industries Corp (SABIC) are merging their high-performance materials businesses, a move that will include the sale of some plastics and coatings activities. Kottmann, who is stepping down as CEO to become chairman of Clariant, said he is still convinced SABIC has no plans to take its stake to a majority.