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US Consumer Sentiment Leaps – USD/JPY Breaches 103, EUR/USD Dips Below 1.28

US Consumer exceeded expectations and this triggers a fresh wave of USD strength. The Reuters / University of Michigan preliminary consumer sentiment for the month of May jumped from 76.4 to 83.7 points, significantly above expectations for a score of 77.9 points. The Conditions Index rose to 97.5 points, exceeding predictions for 89.9 points. The “Expectations” sub-component is at 74.8, more than 68.1 initially estimated.

EUR/USD slid under the support line of 1.2805 and fell as low as 1.2797 at the time of writing before ticking a bit. Update: EUR/USD rebounded quite fast back up, and is now around the previous levels of 1.2820. Lots of action.

Read the rest of the article US Consumer Sentiment Leaps – USD/JPY Breaches 103, EUR/USD Dips Below 1.28
EUR/USD breaks lower – lowest in 6 weeks – 4 reasons
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EUR/USD breaks lower – lowest in 6 weeks – 4 reasons

EUR/USD finally broke out of range, and it is to the downside: the pair is now trading at 1.2822, falling below the previous lows of 1.2842. The move came on top of no particular fresh news, but the euro certainly has reasons to fall. Here are 4 reasons and the next lines: EUR/USD is at

Published by on May 17, 2013 14:43
USD/CAD Extends Gains as Canada Nears Deflation
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USD/CAD Extends Gains as Canada Nears Deflation

Canadian Consumer Price Index (CPI) dropped by 0.2%. It was expected to remain flat in April after rising 0.2% in March. Year over year, inflation stands at only 0.4%, lower than 0.6% expected. Core CPI, which is more important from the central bank, also fell short of expectations by rising by only 0.1%. It was

Published by on May 17, 2013 14:30
EUR/USD Hit by Double Negative Talk
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EUR/USD Hit by Double Negative Talk

EUR/USD made an attempt to rise, but the pair only barely managed to climb above 1.2880 in a gradual move before sliding back down to around 1.2860. A report that the ECB has been checking the possible consequences of a negative deposit rate with banks was joined by worrying comments from a German member of

Published by on May 17, 2013 13:03
EUR/USD May 17 – Little Change After Weak US Data
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EUR/USD May 17 – Little Change After Weak US Data

EUR/USD continues to trade quietly, with the pair trading in the high-1.28 range in Friday’s European session. On Thursday, US key releases, notably Unemployment Claims, were disappointing, but the euro failed to take advantage and didn’t make up ground against the dollar. There are no Eurozone releases on Friday. In the US, there are just three releases, highlighted by

Published by on May 17, 2013 11:59
Japan presents new stimulus – not enough for the yen
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Japan presents new stimulus – not enough for the yen

Japan’s prime minister Shinzo Abe, took the stage to present new stimulus (sometimes called Abenomics 2.0). He pledged to enlarge Japanese infrastructure exports to 30 trillion yen by 2020. Abe wants to bring capital spending to an annual level of 70 trillion yen. USD/JPY, which already slid from the highs of 102.62 before the publication,

Published by on May 17, 2013 11:44
Expect the USD to continue its move higher
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Expect the USD to continue its move higher

The USD resumed its upward move overnight, after having a mixed day during yesterday’s trading sessions. The USD continued its upward move, despite a CPI release yesterday that showed CPI retreated 1.1% year on year in April from 1.5% in March, which is far away from the FED target of 2%. Jobless claims release yesterday

Published by on May 17, 2013 11:16
Aussie presents a total collapse: a look at 5 Aussie pairs
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Aussie presents a total collapse: a look at 5 Aussie pairs

The selling of the Australian dollar continues at full steam. AUD/USD already reached a low of 0.9736, and the old and important support line of 0.9650 isn’t too far.  The Australian dollar also lost critical levels against other currencies. Where will it stop? Here is an examination of 5 Aussie dollar pairs, accompanied with charts:

Published by on May 17, 2013 11:00
Bye bye Aussie
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Bye bye Aussie

GBP: MPC member Weale speaks early on, but only small risk of an impact on sterling. CAD: Inflation data is released at 12:30 GMT. The CAD has performed well in the face of the stronger dollar, only easing modestly vs. the greenback and holding below the 1.02 level for the most part. Inflation is seen

Published by on May 17, 2013 09:41
VP of European Commission wants lower euro, and gets it
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VP of European Commission wants lower euro, and gets it

Antonio Tajani, a vice president of the European Commission from Italy finally said what policymakers are always afraid to say: that the ECB should manage the euro lower. This would boost exports. Indeed. And the euro reacted: it erased previous gains from weak US figures and is now struggling below 1.29. Update: EUR/USD remains depressed

Published by on May 16, 2013 18:24
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