Market News

Volatility remains high after Trump’s “strong dollar” comments contradicted the Treasury Secretary’s “weak dollar” bomb dropped the day before.  Sterling, yen & euro are sitting halfway between the extremes of levels reached after each headline as we await this morning’s U.S. GDP & durable goods data as well as any more headlines emanating out of

The dollar index remains under pressure after breaking below key support at 90.00 and now targets channel support at 86.80 (see chart).  Momentum indicators are warning of oversold conditions but with headlines & emotion dominating trading, technical and fundamentals are taking a back seat at the moment.  The ECB has left rates unchanged as the

The U.S. dollar is broadly weaker after United States Secretary of the Treasury Steve Mnuchin said the U.S. is “open for business” and welcomed a weaker dollar saying that it would benefit the country.  Speaking at a press conference during the World Economic Forum being held in Davos he also was quoted as saying the

The dollar index continues to trade in a sideways fashion but whippy movements in several G10 currencies continue to exacerbate the market psyche with major events such as German Coalition talks, U.S Government shutdown/reopening & the BoJ rate decision having come and gone.  While no major surprises came to fruition, the market’s susceptibility to headlines

The DXY remains near its recent lows after posting an outside day yesterday which means it traded above the high & below the low of the previous day’s session.  Technically speaking this often indicates the end of a current trend which, in the DXY’s case, was lower.  With long term trend line support a mere

With no other significant data releases, speeches or meetings on tap today it’s all about the Bank of Canada announcement at 10AM EST.  Expectations are for a rate hike of 0.25% and the tone of their Monetary Policy Report, which will be released simultaneously, is going to be just as important as the rate decision.

The DXY is holding above trend line support discussed yesterday with euro coming in 80 points off its highwater mark and the remainder of the G7 bloc trading within 50 point ranges in overseas sessions.  No significant data releases are scheduled until later in the week when Chinese GDP, U.S. building permits & UK retail

The dollar index (see attached chart) has taken a big hit over the last 4 trading days and currently sits just above long term trend support of 90.20.  These levels have not been seen since January 2015 and a firm break of 90.00 would lead to a test of the 84.80-85.50 area in future sessions.

Yesterday’s U.S. PPI data, which usually does not garner a great deal of attention, came in under economists consensus which caught the attention of market participants resulting in a weaker dollar across the board.  Euro has surged above 1.2100 and Sterling above 1.3600 while the remainder of G7 currency pairs had a more muted reaction.