EUR: The single currency slipped again after meeting renewed selling interest at 1.1212, offers are still noted at 1.1215-25 and 1.1260, sell orders are reported at 1.1285 and 1.1300, selling interest should emerge further out at 1.1325 and 1.1350-60 with stops building up above 1.1390-00. On the downside, bids at
The Canadian dollar was indirectly supported by RBA's decision to hold rates unchanged today and lifted further by stronger than expected growth data. GDP rose 0.3% mom in December versus expectation of -0.1%> IPPI dropped -0.4% mom in January while RMPI dropped -7.7%. Nonetheless, USD/CAD is still stuck in familiar
China's flash manufacturing PMI by HSBC surprisingly drifted back to above 50, a zone indicating expansion of the sector, in February. The headline reading bounced back to a 4- month of 50.1 from 49.7 in January while the flash manufacturing output index rose to a 5- month high of 50.8.
Fed Chair Janet Yellen in the congressional testimony reiterated the message that the rate hike schedule would be data-dependant, rather than time-dependent. She explained the meaning of the "patient" language, which implies that the economic conditions are unlikely to warrant a rate hike for "at least the next couple of
Intraday bias in EUR/USD remains cautiously on the downside for 1.1096. Consolidation pattern from there is likely finished and break of 1.1096 will extend recent down trend to next fibonacci level at 1.0283. Above 1.1379 will dampen this bearish case and bring another recovery. But in that case, we'd expect
Intraday bias in GBP/USD remains neutral for the moment. At this point, rise from 1.4950 is viewed as a corrective move and break of 1.5315 will indicate that it's completed. In such case, bias will be turned back to the downside for retesting 1.4950 first. However, sustained break of 1.5540/51