Two of the largest economies in the euro zone, namely Germany and France, will be printing their manufacturing and services PMIs in today’s UK session.
USD
The US dollar was off to a weak start for the week, as the existing home sales report turned out to be a disappointment.
USD/CAD has been selling off aggressively but the pair could take a break from its recent dives, as it approaches the 1.0300 major psychological level. This is in line with a former resistance level and area of interest, as well as the rising trend line connecting the pair’s lows.
USD
The US dollar lost ground to most of its major counterparts on Friday, as EUR/USD broke out from its consolidation and reached the 1.3150 area.
EUR/USD is still stuck in consolidation for now, with an ascending triangle pattern forming on its 1-hour time frame.
USD
The dollar regained ground when the US printed better than expected Philly Fed manufacturing data, with the index climbing from 12.5 to 19.8 instead of dipping to the consensus of 8.5.
The uptrend for Cable is still going on the 1-hour time frame, as the pair is trading inside a channel with higher lows and higher highs. The pair is currently sitting around the middle of the channel, picking a direction to go.
USD
The US dollar experienced a lot of volatility during the US session, as Ben Bernanke’s speech had a confusing impact on dollar pairs.
USD/CAD seems ready to bounce back from its recent selloffs, as the pair formed a reversal pattern on its 1-hour time frame.
USD
The US dollar had a mixed performance yesterday, as it lost ground to some counterparts but managed to advance against others. US CPI was mostly in line with expectations, as the core figure printed the estimated 0.2% uptick while the headline CPI showed a higher than expected 0.5% increase.