Earlier today, the USD Index extended gains as yesterday’s positive data (which showed that U.S. trade deficit narrowed to $40.44 billion in March and the Institute of Supply Management‘s index increased to a four-month high of 55.7 in the previous month) continued to support the greenback. Thanks to these circumstances, USD/CHF moved higher once again and approached the first resistance area. Will it encourage currency bears to act in the coming days?

• Read more

Yesterday, the U.S. dollar moved sharply higher against its Canadian counterpart as declining price of crude oil weighed on the commodity-related currency. As a result, USD/CAD increased above the medium-term declining resistance line. Breakout or Fakeout?

• Read more

Although USD Index declined under the level of 92, the long-term support lines and levels stopped currency bears, triggering a rebound. What impact did this move have on the euro, pound and Australian dollar?

• Read more

Earlier today, official data showed that the euro zone’s Manufacturing PMI increased to 51.7, beating earlier forecasts, which pushed the euro higher against the greenback. As a result, EUR/USD hit a fresh 2016 high and approached the key resistance zone. What happened at the same time with our other currency pairs?

• Read more

Earlier today, official data showed that the euro area’s gross domestic product increased by 0.6% in the first quarter of the year, beating expectations for a growth of 0.4%. Additionally, the euro zone’s GDP (on a year-on-year basis) increased by 1.6% in the first quarter, also beating forecasts for a 1.4% growth. Thanks to these solid numbers, the euro extended gains against the greenback, which resulted in a comeback above the Feb high. Will we see a test of the recent peak in the coming week?

• Read more