Forex Insights

July 3, 2019

 

 

EURUSD

  • EUR/USD is consolidating in the lower end of the weekly range around 1.1280 as market participants continue to adjust to the appointment of IMF’s Christine Lagarde to succeed Mario Draghi at ECB.

  • EUR/USD comes under pressure near 1.1280.

  • Yields of the 10-year Bund drop to all time lows near 0.40%

  • The renewed dovish stance from the ECB and USD-dynamics should dictate the price action around the pair in the near term, helped at the same time by the broad risk-appetite trends and the recent positive developments from the US-China trade front.

USDJPY

  • USD/JPY struggles near weekly lows, just above mid-107.00s

  • Reviving safe-haven demand benefits the JPY and keeps exerting downward pressure. USD/JPY struggles near weekly lows, just above mid-107.00s

  • Having failed to capitalize on the weekly bullish gap, the pair remained under some selling pressure for the second consecutive session.

  • The latest optimism over the US-China trade truce faded rather quickly, with resurfacing trade war fears - especially after the US threatened to impose additional tariffs on $4 billion worth of European goods

GBPUSD

  • GBP/USD is trading below 1.2600 as UK services PMI missed with 50.2.

  • BOE Gov. Mark Carney expressed concerns about the global economy that may lead to a change in policy. US data fell short of expectations.

  • According to the official report, “subdued activity was often attributed to sluggish domestic economic conditions and greater risk aversion among clients in response to ongoing Brexit uncertainty.”

AUDUSD

  • The AUD/USD pair gained momentum and broke above 0.7000 during the European session.

  • China is Australia's largest trading partner with over 30% of Australian exports going into the second world's largest economy, with the Aussie directly correlated with Chinese growth.

  • Trade tensions have fueled the economic slowdown of the Asian giant, which, in the third quarter of 2018 grew just by 6.5%, the weakest year-on-year quarterly GDP growth since the first quarter of 2009.

For the Best Forex Signal| Accurate Stock Signal| Profitable Comex Signals, Try Equidious Research Services. We have a team of best and well experienced Research Analysts.

Trading is an art of making handsome amount.

Enjoy Trading!

 

 

 

 

 

 

Share on Facebook
Share on Twitter
Please reload

Featured Posts

What are Currency Pair Correlations?

January 2, 2019

1/10
Please reload

Recent Posts

July 3, 2019

Please reload

Archive