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US Open Note – Euro unchanged as ECB meets PEPP expectations; dollar stable

Taper - ECB style Starting bond tapering could be an unwise decision when the pandemic is still propagating worldwide through its threatening variants.

EURGBP quickened its pace higher on Tuesday, putting the August uptrend back on the wires to peak at a fresh seven week high, marginally above the previous top of 0.

US Open Note – Dollar consolidates losses as jobs day looms; stocks mildly up

US Jobless claims pin fresh low as expected The downbeat ADP private jobs survey and the dip in the employment component of the ISM manufacturing PMI created plenty of interest in the US initial jobless claims numbers on Thursday as anxiety continues to grow about whether Friday’s nonfarm payrolls will meet the criteria for the Fed’s bond tapering plans to start sooner rather than later.

Technical Analysis – EURGBP backs off near six-week high

EURGBP faltered after barely surpassing the 0.8600 level on Wednesday in the four-hour chart. The 61.8% Fibonacci retracement of the 0.

Technical Analysis – EURGBP finds support near trendline; next resistance at 0.8568

EURGBP refused to close below the 50-period simple moving average (SMA) in the four-hour chart and the supportive trendline, raising optimism that the upward pattern could see further continuation even if the flattening SMAs are providing little hope for an uptrend improvement at the moment.

US Open Note – Risk currencies become the best performers as delta fears persist

Jackson Hole in focus, as delta strain challenges policy decisions Although not a game changer yet, the RBNZ policy announcement showed last week that the spread of the delta virus strain could bring some rescheduling in monetary policy plans, and therefore some exciting volatility in FX markets.

UK inflation and retail sales likely eased in July but pound to stay elevated – Forex News Preview

It’s a data-heavy week for the UK, with investors turning to Wednesday’s CPI readings and Friday’s retail sales numbers (all due at 06:00 GMT) after today’s employment report.

EURGBP closed the previous session marginally above the 20-period simple moving average (SMA) on the four-chart, but a sustainable move above the steep descending trendline, which connects the highs from July’s top of 0.

Sterling awaits UK growth numbers - Forex News Preview

British economic growth data for Q2 will hit the markets at 06:00 GMT Thursday. Forecasts point to a solid report as widespread vaccinations enabled the reopening of the economy.

Technical Analysis – EURGBP tests 0.85 lower border of trading range

EURGBP is in the vicinity of the base of the 3½-month sideways market after having surrendered its recent gains up to 0.

US Open Note – ECB delivers new guidance but no surprises; stocks stay on recovery mode

Risk-aversion fades Concerns over the Covid delta variant and its potential drag on global growth took a back seat on Thursday, letting risk-sensitive currencies such as the Aussie and the kiwi pare some of Monday’s damage and become the best performers of the day.

US Open Note – Stocks sluggish at highs and dollar returns to yesterday’s levels

Stocks ease a tad ahead of Fed Chairman Powell’s upcoming comments The poker face of the Chairman of the Federal Reserve seems to still have markets convinced that inflation is transitory, after delivering rhetoric of a cautious but dovish nature yesterday in his remarks.

EURGBP is creating a bearish move in a downward sloping channel, which has been holding since April 26 and any further falls in the next sessions could pierce this pattern to the downside.

US Open Note – Safe havens shine as risk-off sentiment spikes; euro in the green despite ECB’s policy review

Demand for safe havens resurfaces Thursday’s trading session had a bitter taste for riskier assets as investors slipped into second thoughts about how sustainably the global economy could grow in the year ahead, with global stocks plummeting, and safe havens rocketing.

EURGBP is constructing a negative rally, following the bounce from the Ichimoku cloud. Since April 26, the market has been moving in a declining channel, and any further dips could pierce this pattern to the negative in the coming sessions.

US Open Note – Dollar continues to move north after ADP release

The dollar held on to recent gains as virus concerns arose in a market already on edge before the NFP report on Friday that is considered as critical to the Federal Reserve's monetary policy outlook.

Technical Analysis – EURGBP soars in downward sloping channel near 0.86

EURGBP is forming an upside rally, following the bounce off the 0.8530 support area. However, the market has been developing within a descending channel since April 26 and a strong boost may penetrate this pattern to the upside in the next few sessions.

US Open Note – Markets are calm ahead of data exposure later this week

Dollar flirts with 111 yen; euro retreats near $1.19 as greenback gains ground It’s been a quiet start to the week as the greenback is trying to improve its long-term structure with all the attention turning on the NFP report on Friday.

EURGBP has been out of the spotlight over the past two months as the sideways pattern kept traders in a wait-and-see mode.

EURGBP has been trading in a short-term descending triangle over the last two months with the top border at the 0.


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