Although today’s data showed that core durable goods orders (without volatile transportation items) declined by 0.4% in Sept, the U.S. dollar moved higher against its Canadian counterpart as dropping oil prices affected negatively the commodity-linked Canadian currency. Where will USD/CAD head next in the coming days?

• Read more

Earlier today, the Australian dollar moved higher against its U.S. counterpart after the People's Bank of China unexpectedly lowered rates for the sixth time since last November. As a result, AUD/USD reversed and bounced off the support area. Will we see a climb above 0.7300 in the coming week?

• Read more

Yesterday, European Central Bank president Mario Draghi said that the bank is ready to cut interest rates in the euro zone from their current record-low of 0.5% and extend its EUR 60 billion a month bond buying program, as early as its next policy meeting in Frankfurt on Dec. 3. This news in combination with bullish job data (which showed that the number of initial jobless claims in the week ending October 17 increased by 3,000, beating analysts’ expectations for a rise of 9,000) gave the greenback a solid support, which resulted in a sharp rally. In this way, the USD Index surged to an intraday high of 96.50 and approached Sept high. What impact did this increase have on our six currency pairs?

• Read more

Earlier today, official data showed that British retail sales increased by 1.9% in the previous month, beating forecasts for a gain of 0.3%. Additionally, year-on-year, retail sales rose by 6.5% in September, above expectations for a 4.8% gain. On top of that, core retail sales (without automobile sales) jumped 1.7% last month also beating forecasts for a 0.3% increase. Thanks to these bullish numbers GBP/USD rebounded sharply and climbed to the last week’s high. Will we see higher values of the exchange rate in the coming days?

• Read more

Earlier today, the Australian dollar moved lower against its U.S. counterpart as yesterday’s upbeat U.S. housing starts data continued to support the greenback. As a result, AUD/USD declined to important support. Will we see a rebound from here?

• Read more