|Day's range||1.306 - 1.328|
|52-week range||1.2663 - 1.4377|
The British pound initially tried to rally during the week, reaching towards the 1.33 level before pulling back to form a massive shooting star. This was in a negative sign, and I think it shows that we continue to follow the occasional headline as to where to go next. It looks as if the British pound is ready to roll over for a while, as Teresa May has suggested that the Brexit may be without a deal.
The British pound fell apart during the trading session on Friday, as Teresa May stated that she was sticking with her plan and wasn’t willing to bend watch when it comes to dealing with the European Union. With that being the case, the market looks very likely to continue to be very volatile.
Investing.com - The dollar rose against its rivals on Friday, as investors reined in appetite for emerging-market currencies, while the pound racked up losses as the UK and EU reached an "impasse," on a post-Brexit deal.
The Australian dollar was lower, with AUD/USD down 0.16% to 0.7280. Meanwhile NZD/USD jumped 1.04% to 0.6679 after Moody's reaffirmed the country’s AAA rating.
Investing.com - The pound fell to an intraday low against the dollar on Friday after UK Prime Minister Theresa May said that the UK and European Union were at an impasse in Brexit negotiations.
Limited data for Friday will see continued focus given to Brexit talks, which see cold water beginning to splash on hopes for a peaceable workaround.
The British pound continues to go much higher, as Thursday was more of the same. Now that we are above the 1.3125 level, I am essentially a “buy only” trader when it comes to this pair.
Inflation numbers out of Japan this morning were a reminder of how far off the BoJ is from making a move, focus shifting to the EU and the Oval Office.
Investing.com - The dollar fell to a nearly four-month low against its rivals on Thursday, as investors bet on an ongoing rebound in emerging-market currencies amid improved sentiment in developing economies.
The Euro initially rallied during the day on Wednesday but is facing stiff resistance at the neckline of an inverse head and shoulders pattern that is formed on the daily chart. The market is expected to continue noisy and given the trade wars, USD will experience pressure and “buy on dips” will be the right strategy to continue in this market.
In the Asian markets, it seems that the recovery rally has exhausted. After two days of growth, Asian markets mixed, returning to the levels of the end of last week. Global stocks mostly higher.
The 100-day MA proved a tough nut to crack on the negative Brexit news and investors now await UK retail sales update for fresh impetus to move forward.
The British pound continues to be very noisy as a rumor was released the Teresa May was not happy with the latest compromise involving the Irish border with the EU ministers. Of course, this was released on Twitter, so it could be simple currency manipulation for all we know.
Impressive 2nd GDP numbers drive the Kiwi, with Brexit and retail sales numbers putting the Pound in the spotlight.
Investing.com - The dollar fell against its rivals on Wednesday, shrugging off mostly upbeat U.S. economic data as emerging market currencies made a stand against the greenback on improved sentiment.
The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, fell 0.17% to 94.06 as of 11:45 AM ET (15:45 GMT). The new tariffs are in response to U.S. tariffs on Monday of 10% on $200 billion in Chinese goods, which will go up to 25% at the end of the year. Meanwhile, trade developments with the U.S. and Canada continued, as Canadian Prime Minister Justin Trudeau said he was going to need see “movement” before a deal could be reached.
The pound struggled for direction Wednesday after reports that UK Prime Minister Theresa May was set to reject the European Union’s Irish border solution. The EU had suggested having more checks only in Northern Ireland, but May is expected to reject their offer, insisting that any solution must be UK-wide, The Times reported. The EU’s chief Brexit negotiator Michel Barnier previously suggested that checks would need to be carried out at British and Northern Irish ports on only one category of goods moving from Great Britain to Northern Ireland.
The Euro rallied initially during the Tuesday’s session but as soon as China announced retaliatory tariffs, the market turned extremely volatile. In order to continue with the bullish sentiment, it needs to break above the 1.1725 level, which will send this pair to the 1.1750 level and then to the 1.18 level. The pair is successfully holding above the 1.3125 level and given enough time, it likely that buyers send this market much higher.
Pound buyers are enjoying some Brexit relief as PM May and the EU’s Michel Barnier appear set to begin working together towards a solution.
The British pound went back and forth during the day on Tuesday but has done something rather important in the sense that the 1.3125 level looks to show signs of support after being broken to the upside. Currently, consolidation seems to be the way forward.
It’s been a bullish start to the day, in spite of rising trade war tension, the Aussie Dollar leading the way, focus now shifting to UK inflation.
The major U.S. equity indexes are trading higher shortly after the cash market opening on Tuesday as the latest tariffs on U.S. and Chinese goods failed to lead to lead to knee-jerk selling as anticipated during the pre-market trade. U.S. Treasury yields were trading mixed when the news came out this morning. However, shortly after the stock market opening, yields are trading higher. The U.S. Dollar is trading lower against most major currencies except the Japanese Yen despite rising Treasury yields which tend to drive up demand for the greenback