Friday 22nd March: Greenback regains Fed-induced losses; 96.50 potentially on the radar.
US dollar rebounded Thursday, reclaiming a large portion of Wednesday’s lost ground after the Federal Reserve jolted markets by abandoning all plans to raise interest rates this year.
Thursday 21st March: Sterling continues to be whipped around on Brexit headlines ahead of today’s BoE rate decision
The US Federal Reserve, as expected, kept interest rates unchanged at 2.25-2.50% Wednesday. The trajectory of rate hikes was also narrowed, with the central bank stating it will not hike interest rates this year amid a slowing economy.
Wednesday 20th March: FOMC takes centre stage; the central bank widely expected to keep policy unchanged.
Underpinned by a softer greenback, the EUR/USD extended gains for a third consecutive day Tuesday, up 0.13%. The buck is seemingly weaker on fears of a dovish Fed, with the central bank widely expected to keep policy unchanged today.
Tuesday 19th March: Sterling consolidates ahead of UK job’s data.
EUR/USD bulls went on the offensive Monday, extending Friday’s rally. Up 0.10%, the pair is closing in on a daily channel resistance etched from the high 1.1569.
Monday 18th March: Weekly technical outlook and review.
Following three stormy days, Thursday and Friday were somewhat calmer in comparison. Leaving 1.32 unchallenged Friday, the day concluded testing the underside of 1.33 after conquering March’s opening level at 1.3264.
Friday 15th March: US dollar turns higher breaking a four-day bearish phase
On more of a broader outlook, weekly price continues to reflect a bullish stance out of demand coming in at 1.1119-1.1295, eclipsing a large portion of the prior week’s losses.
Thursday 14th March: Sterling in the spotlight once again as MPs vote on delaying Brexit.
MPs rejected the United Kingdom leaving the European Union without a Brexit deal in any circumstances Wednesday as Parliament took control of Britain’s divorce from the bloc.
Monday 11th March: Weekly technical outlook and review
The US unemployment rate also declined to 3.8%, beating expectations of 3.9%, and US average hourly earnings ticked higher at 0.4% vs. expected 0.3%.
Friday 8th March: US non-farm payrolls eyed at 1.30pm GMT – remain vigilant.
The ECB cut growth forecasts and indicated rates would be on hold through 2019 (previously it had guided it would be on hold through summer).
