Euro FX Dec '19 (E6Z19)
Euro FX Futures Market News and Commentary
The dollar index (DXY00) on Monday fell -0.05 (-0.05%). Dec euro-fx futures (E6Z9) closed up +0.0008 (+0.07%), and EUR/USD (^EURUSD) rose +0.0003 (+0.03%). Dec yen futures (J6Z9) closed down -0.0006 (-0.07%), and USD/JPY (^USDJPY) rose +0.06 (+0.06%).
The dollar index moved slightly lower Monday on global economic concerns, which are dovish for Fed policy, after China's Nov exports unexpectedly fell -1.1% y/y, weaker than expectations of +0.8% y/y. Also, an upward revision to Japan Q3 GDP supported the yen and GBP/USD gained on the outlook for the Conservative party to win a majority in Thursday's UK election.
USD/JPY dropped to a 2-week low Monday before short-covering emerged, leaving USD/JPY little changed. Stronger-than-expected Japanese economic data on Monday was hawkish for BOJ policy and boosted Japanese government bond yields. Japan's Q3 GDP on Monday was revised upward to +1.9% (q/q annualized), stronger than expectations of +0.6% (q/q annualized). Also, the... Read more
- EUR/USD have donwtrend to 1.1017 while trading below 1.1097
The downtrend may be expected to continue, while pair is trading below resistance level 1.1078 - 1.1097, which will be followed by reaching support level...
- USD/JPY Fundamental Weekly Forecast Risk Over Trade Deal Primary Concern for Traders
Demand for risk will be the primarily driver of the price action this week, but there are some domestic reports that should be watched. Traders may not...
- Its Geopolitics in the Day Ahead, with Trade and the UK Elections in Focus
With stats on the lighter side, we can expect geopolitics to be in focus. Trade and the UK General Election are likely to be the talking points
- British Pound Struggling At New Resistance
For many weeks running, GBP/USD has been trading sideways in the pink consolidation. After moving higher recently, just what are the chances...
- EURUSD Hesitates But Remains Vulnerable
EURUSD with the pair continuing to retain its consolidation threats, directional move is now a challenge.
- The Week Ahead The ECB, the FED, the UK General Election and Trade in Focus
Its a big week ahead, with the ECB, the FED, trade, and the UK General Election in focus. Expect the stats to play second fiddle in the week.