The upside momentum around the sterling remains unabated today, although GBP/USD still can’t break above 1.4500 on a sustainable basis.

GBP/USD bolstered by USD weakness

Spot has advanced to fresh 4-week highs just above the 1.4500 handle, although the bullish attempt now seems to have lost some momentum, returning to the mid-1.4400s.

The increasing weakness around the greenback post-FOMC meeting has been propping up the important up move in spot, later supported by the steady stance from the BoE at today’s meeting, which it did not sound as dovish as markets were expecting.

GBP/USD levels to consider

As of writing the pair is up 1.42% at 1.4463 facing the next hurdle at 1.4502 (high Mar.17) ahead of 1.4670 (high Feb.4) and finally 1.4948 (high Dec.25 2015). On the other hand, a breakdown of 1.4249 (50% Fibo of 1.4670-1.3833) would target 1.4161 (20-day sma) en route to 1.4028 (23.6% Fibo of 1.4670-1.3833).

The upside momentum around the sterling remains unabated today, although GBP/USD still can’t break above 1.4500 on a sustainable basis…

(Market News Provided by FXstreet)

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Stock markets in the US are wobbly as weakness in bank shares is overshadowing moderate gains in the energy shares.

At the time of writing, Dow Jones Industrial Average (DJIA) was trading largely unchanged on the day. The S&P 500 index was down 2 points, while the Nasdaq was down 23 points or 0.54%.

Shares in UnitedHealth were down 1.8%, followed by a 1.2% loss in JPMorgan shares. Meanwhile, the winning side included names like Procter&Gamble, Wal-Mart stores, Fed-EX.

The weakness in the stocks stands in stark contrast to fireworks witnessed in past following Fed’s dovish talk.

Stock markets in the US are wobbly as weakness in bank shares is overshadowing moderate gains in the energy shares.

(Market News Provided by FXstreet)

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The U.S. Bureau of Labor Statistics released its Job Openings and Labor Turnover Survey (JOLTS) report on Thursday. Job openings rose to 5.541 million in January from 5.281 million in December. December’s figure was revised down from 5.607 million. Th…

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Another wave of USD selling hit the markets, pushing the EUR/USD in the vicinity of the session high of 1.1342 set earlier today.

Weak stocks support EUR

The major US equity indices are trading in the red, which adds to the bullish tone around EUR. Meanwhile, US desks are once again offering the greenback in response to Fed’s backtracking from December’s hawkish stance.

A slightly upbeat US data released a few minutes ago failed to help the greenback. Ahead in the day, dollar selling may continue as there is no data release that could change overall sentiment in the favor of the US dollar.

The spot currently trades around 1.1330; up 1% on the day.

EUR/USD Technical Levels

The spot could target 1.1376 (Feb 11 high), if the immediate hurdle at 1.1342 (daily high) is taken out. On the other hand, a breakdown of immediate support 1.1256 (61.8% of 1.1376-1.0517) would expose 1.12 handle.

Another wave of USD selling hit the markets, pushing the EUR/USD in the vicinity of the session high of 1.1342 set earlier today.

(Market News Provided by FXstreet)

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The greenback, tracked by the US Dollar Index, remains under pressure today, currently testing the lower end of the range near 94.70.US Dollar in 5-month lowsThe greenback has accelerated its depreciation following the dovish statement from the FOMC me…

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Opening in the US took place on neutral levels, after a while the major indices began to slope downwards. Earlier today, a series of reinforcing economic data was published on Poland: Poland’s industrial output increased by 6.7% y/y in February vs….

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