GBP/USD Range in Focus Ahead of BoE; Has EUR/USD Made a Lower-Low?
Here you can find all the latest breaking forex and currency news about GBP/USD Range in Focus Ahead of BoE; Has EUR/USD Made a Lower-Low? including currency analysis and forecasts, live foreign exchange rates, central bank interest rates, and currency trading strategies from experienced fx traders and forex platforms.
Talking Points:
- EUR/USD Comes Up Against Key 1.3450-60 Zone; Lower-Low in Place?
- GBP/USD to Face Larger Correction on Unanimous BoE Vote
- USDOLLAR Falls Back From Fresh Monthly High as U.S. Core Inflation Slows
Index |
Last |
High |
Low |
Daily Change (%) |
Daily Range (% of ATR) |
DJ-FXCM Dollar Index |
10451.68 |
10455.43 |
10431.47 |
0.12 |
91.85% |
EUR/USD:
- Slips to a fresh yearly low of 1.3457; outlooks remains bearish as the EUR/USD continues to carve lower highs & lows while Relative Strength Index (RSI) retains downward trend.
- Despite the lack of fundamental event risk coming out of the euro-area, looks as though market players continue to favor selling the EUR/USD despite the weak data prints out of the U.S.
- DailyFX Speculative Sentiment Index (SSI) stands at 1.6233 after flipping into positive territory .
GBP/USD:
- Looks poised to hold above the 1.7020-30 region as it continues to trade above the July low (1.7035).
- Bank of England (BoE) Minutes to heavily influence near-term outlook for GBP/USD as market participants look for a growing dissent within the Monetary Policy Committee (MPC).
- BoE may continue to favor a stronger British Pound as it helps to achieve price stability.
For more updates, sign up for David's e-mail distribution list.
Join DailyFX on Demand for Real-Time SSI Updates Across the Majors!
Read More:
Price & Time: Key Test for the Euro
Managing USD Expectations with EUR/USD, USD/CAD (but not USD/JPY)
USDOLLAR Daily
Chart - Created Using FXCM Marketscope 2.0
USDOLLAR(Ticker: USDollar):
- Dow Jones-FXCM U.S. Dollar Index advances to a fresh monthly high despite the unexpected downtick in the core rate of inflation.
- Looks as though Fed will retain a dovish tone for monetary policy as the stickiness in the headline reading for inflation was largely driven by higher energy costs.
- Nevertheless, close above 10,440 (78.6% Fibonacci retracement) should bring up 10,470 next.
- Interim Resistance: 10,508 (61.8% retracement) to 10,524 (38.2% retracement)
- Interim Support: 10,354 (Oct. low) to 10,375 (50.0& retracement)
Release |
GMT |
Expected |
Actual |
Consumer Price Index (MoM) (JUN) |
12:30 |
0.3% |
0.3% |
Consumer Price Index (YoY) (JUN) |
12:30 |
2.1% |
2.1% |
Consumer Price Index ex Food & Energy (MoM) (JUN) |
12:30 |
0.2% |
0.1% |
Consumer Price Index ex Food & Energy (YoY) (JUN) |
12:30 |
2.0% |
1.9% |
Consumer Price Index Core Index s.a. (JUN) |
12:30 |
238.227 |
238.083 |
Consumer Price Index n.s.a. (JUN) |
12:30 |
238.535 |
238.343 |
House Price Index (MoM) (MAY) |
13:00 |
0.2% |
0.4% |
Richmond Fed Manufacturing Index (JUL) |
14:00 |
5 |
7 |
Existing Home Sales (JUN) |
14:00 |
4.99M |
5.04M |
Existing Home Sales (MoM) (JUN) |
14:00 |
1.9% |
2.6% |
Click Here for the DailyFX Calendar
--- Written by David Song, Currency Analyst
To contact David, e-mail [email protected]. Follow me on Twitter at @DavidJSong.
To be added to David's e-mail distribution list, please follow this link.
Trade Alongsidethe DailyFX Team on DailyFX on Demand
Looking to use the DailyFX Trade Signals LIVE? Check out Mirror Trader.
New to FX? Watch this Video
Join us to discuss the outlook for the major currencies on the DailyFXForums
original source
The article above is about breaking forex and currency news regarding GBP/USD Range in Focus Ahead of BoE; Has EUR/USD Made a Lower-Low?, if you have any question about it. Please contact us by using the link below. Thanks for your patience.
- Japanese Yen Gains, Nikkei Falls as BOJ Leaves Policy Unchanged
- Chinese Business Sentiment Contracts for the First Time in 4 Months
- Dismal UK Retail Sales to Spur Another Test of GBP/USD Resilience
- Forex-Webinar:-FOMC-Minutes-Reinforce-Hike-Forecast
- Trading Video: Dollar Fails to Rally on Hawkish FOMC, Equities Rally
- Among Top Themes, Where is the Risk Most Potent: Fed Hike, China, EM?
- EUR/USD Technical Analysis: Looking to Short on Bounce
- US Dollar Declines as FOMC Minutes Bring Nothing New to the Table
- US DOLLAR Technical Analysis: USD Holds Support on FOMC Minutes
- WTI Crude Oil Price Forecast: What Now That $40bbl Broke?
- Fingertrp Scalping with James Stanley (Using Tradingview Charts)
- EUR/USD Risks Fresh Monthly Lows on Hawkish FOMC Minutes
- Analyst Pick - Kiwi & CAD in Focus
- Price & Time: USD/CAD ? It?s Showtime
- GBP/USD Ranges Ahead of FOMC Minutes
- President Xi Warns That China Faces Considerable Downward Pressure
- FOMC Minutes Later Today - USD Set for October 28 Redux
- Silver Price Is Targeting Its Yearly Low
- FTSE 100: Commodity Markets Wants to See The FTSE 100 at 6040
- DAX 30: Momentum Slows Down, FOMC Minutes on Tap
- US Dollar May Extend Gains as Fed Minutes Foreshadow Rate Hike
- Copper Surplus Faces Falling Premiums; Gold Slides before Fed Minutes
- China Real Estate Market Recovery Slows in October
- Traders Not as Confident of Fed Hike as Markets, Economists
- EUR/GBP Technical Analysis: Euro Drops to 3-Month Low
- Dollar Unmoved After China Treasury Holdings Hit a 7 Month Low
- Can Dollar Climb Continue After FOMC Forecast Shift?
- Dollar’s CPI Rally Lacking, Stall in Risk Raises Yen Crosses Appeal
- NZD/USD Technical Analysis: Short Trade Activated Sub-0.65
- Will the DAX Crack or Cower from Resistance?