Earlier today, the USD Index gave up some gains, but the greenback remains close to a seven month high as hopes that the Federal Reserve will raise interest rates in Dec continued to support the U.S. currency. In this environment, USD/JPY climbed to the key resistance lines. Will we see a breakout in the coming days?

• Read more

Earlier today, the USD Index extended gains and hit a fresh Nov high of 99.78 as demand for the greenback continued to be supported by expectations that the Fed will hike interest rates in Dec. As a result, USD/CHF climbed to the March highs. Will we see a breakout and further rally in the coming days?

• Read more

Although today’s data showed that the Empire State Manufacturing Index missed analysts’ expectation (the index improved to -10.7 this month from a reading of -11.4 in Oct, missing forecasts for a rise to -6.0), the USD Index still remains around last week’s highs. In these circumstances, EUR/USD extended losses and tested the recent lows. What’s next?

• Read more

Yesterday, the U.S. Department of Labor showed that the number of initial jobless claims in the week ending November 7 was unchanged from a week earlier (at 276,000), which missed analysts’ expectations for a fall by 6,000. These disappointing numbers, in combination with the Fed Chair Janet Yellen commentary (which gave no indications on the near-term outlook for the U.S. economy or monetary policy) weakened the greenback. As a result, the USD Index declined below the level of 99. What impact did this drop have on the short-term picture of our six currency pairs?

• Read more

Earlier today, the Australian Bureau of Statistics reported that the number of employed people increased by 58.600 in the previous month, beating analysts’ expectations for a 15.000 rise. Thanks to these bullish numbers, AUD/USD extended gains and re-approached the resistance line. Will we see a breakout in the coming days?

• Read more