USD: Neutral
The U.S. dollar lost a lot of ground to its major currency counterparts during yesterday’s trading as we saw a short squeeze, particularly for GBP/USD and EUR/USD.
After yesterday’s short squeeze on EUR/USD, which pushed the pair back above the 1.3000 major psychological support level, many are wondering if the rally of this pair would actually last.
USD: Bullish
The U.S. dollar once again found support from stronger than expected economic data during yesterday’s trading.
NZD/USD got sold off strongly after the RBNZ announced its interest rate decision during today’s Asian session.
USD: Bullish
The U.S. is set to release its retail sales report for February at 1:30 pm GMT today. The headline figure could show a 0.5% increase while the core version of the report could also show a 0.5% uptick as well.
GBP/USD has just broken below the 1.5000 major psychological level in the past week but the pair appears prime for a retest within the day.
USD: Neutral
There are no major reports due from the U.S. or other major economies today so dollar pairs could simply move sideways for the rest of the day.
Cable has been on a downtrend for the past few weeks and has recently made a strong break below the 1.5000 major psychological support level.
USD: Bullish
The U.S. dollar enjoyed a nice strong rally after the NFP figure came in higher than expected. The U.S. economy was able to add 236K jobs in February, higher than the estimated 162K increase.
Last Friday’s NFP release, which came in stronger than expected, pushed EUR/USD back to the 1.3000 major psychological level.