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Key risk events today: UK Average Earnings Index 3m/y; UK Claimant Count Change; UK Unemployment Rate; German ZEW Economic Sentiment; FOMC Member Clarida Speaks. EUR/USD: EUR/USD movement opened the new week a shade higher, consequently snapping a five-day bearish phase from 1.1175. The dollar index, or DXY, receded from highs of 98.40, poised to revisit … Continue reading Tuesday 12th November: Dollar snaps five-day winning streak; a retest of 98.00 likely in store.

Five successive days of selling, primarily opening by way of a clear-cut bearish engulfing candlestick formation, witnessed the EUR/USD tunnel through prominent support at 1.1072.

The European shared currency traded lower against the buck Thursday, erasing more than 0.15% and recording its fourth successive losing session. The dollar index firmed yesterday, breaching 98.00 to the upside as US Treasury yields rose sharply – 10-year note trades at 1.919% – amid positive US/China trade headlines that triggered safe-haven outflows.

Europe’s shared currency shifts into Thursday a shade lower against the buck, retreating from Wednesday’s high at 1.1092. Tier-1 macroeconomic data was limited Wednesday, though better-than-expected Eurozone services PMIs did provide fresh impetus.

Key risk events today: Crude Oil Inventories. EUR/USD: In recent sessions, the euro, shaped by way of a near-full-bodied daily bearish candle, fell to a three-week low vs. the buck. The dollar reigned supreme, bolstered by a promising ISM non-manufacturing PMI print and the continuation of positive trade rhetoric between the US and China. According … Continue reading Wednesday 6th November: Dollar circulates below 98.00; eyes weekly trend line resistance.