US Dollar wavers but holds its ground

​​The US Dollar wavered on US economic data last night. Better-than-expected GDP growth once helped the Dollar make gains but the data afterwards pared the Dollar and assisted the Euro and Sterling bounce to their day’s highs. Even with downbeat housing prices and consumer confidence, it doesn’t seem that the uptrend will change for the Dollar. The Euro Dollar took the chance to recover half of its loss last Friday. It has rebounded over 100 pips from its month low and the critical support level of 1.2360, but the bearish trend has far from being changed.

NZ dollar maintained a negative course against the Greenback

​​The aggressive monetary easing by China continued to wane on Tuesday and the NZ dollar maintained a negative course against the Greenback. Inflation expectations printed as expected with the results having a muted affect leading the higher yielding Kiwi to continue to remain under pressure.

Euro lifted by a firm German IFO ahead of today's US GDP/Confidence data

​​A firmer German IFO business reading underpinned the Euro today and it would appear there may be some room for further short term gains as positions are squared ahead of the US Thanksgiving holiday. Direction today will be decided by the outcome of the GDP data due from Germany and the US

Economic Indicator News »

Visitor Arrivals increased in New Zealand during October

Statistics New Zealand reported that visitor arrivals came in at 8% during...

Actual

8%

Forecast

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Previous

1.2%

Economic Indicator News »

Consumer Price Index in Singapore dipped in October

Statistics Singapore reported that Consumer Price Index came in at 0.1 compared...

Actual

0.1

Forecast

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Previous

0.6

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Fundamental

US Dollar wavers but holds its ground

​​The US Dollar wavered on US economic data last night. Better-than-expected GDP growth once helped the Dollar make gains but the data afterwards pared the Dollar and assisted the Euro and Sterling...


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Technical

EURUSD Price Action - Looking to Sell

Moving into Sell Zone (4hr chart) Continuing the bounce from the range support, the Euro gained solidly today for most of NY trading. I’ll be looking to sell above 1.25, ideally closer towards the key...