May 2019

EUR/JPY plummeted to a new four-month low of 121.80 earlier today, continuing the selling interest from the 123.75 resistance zone. The EUR/JPY pair also dropped beneath the 20- and 40-simple moving averages (SMAs), which recently posted a…

The second estimate of US GDP for Q1 will hit the markets on Wednesday while the Fed’s preferred inflation gauge for April is due on Friday, both at 12:30 GMT. Investors may focus mainly on the PCE inflation numbers, where risks seem…

The Bank of Canada (BoC) is widely expected to keep its policy unchanged on Wednesday at 14:00 GMT. Recent economic data and some remarks by Governor Poloz argue for a slightly more confident tone overall, which may lift the loonie. That…

EUR/USD is flirting with the 40-day simple moving average (SMA) today, after the aggressive rebound on the two-year low of 1.1106, achieved last Thursday. Currently, the EUR/USD pair has been developing within a narrow range of 1.1110 –…

As the euro searches for a bottom, business survey data out of the Eurozone this week could help the single currency put a floor under its recent declines. The flash PMIs from IHS Markit for May will be released on Thursday at 08:00 GMT,…

AUD/USD held losses over the last five days, dropping to a new four-month low of 0.6864 last Friday and penetrating the descending triangle formation to the downside. The RSI in the 4-hour chart continues to lack direction near the oversold…

The minutes of the latest Fed meeting are due out at 18:00 GMT on Wednesday. Chairman Powell was less cautious than markets had anticipated back then, downplaying the prospect of rate cuts. The minutes could echo a similar message,…

GBP/USD sank to a fresh four-month low of 1.2708 today, creating a strong negative rally after the pullback on 1.3175. The negative bias in the near term is supported by the deterioration in the momentum indicators. The %K line of the…