Yohay Elam | TalkMarkets | Page 249
Contributor's Links: Forex Crunch
Yohay Elam has been into forex trading for over 5 years, and shares the experience and the knowledge accumulated after taking a short course about forex. Like many forex traders, Elam has earned the significant share of his knowledge the hard way. Macroeconomics, the impact of news on the ...more

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EUR/USD Extends Fall – Only 2 More Support Levels Left – Bounce Or Parity?
EUR/USD is currently trading at 1.0650, the lowest level since December 2015. The pair extended its fall as US data was good enough to support a rate hike and so were Yellen’s words.
Yellen Is Cautiously Optimistic – USD Wobbles
The US dollar was taking a second breather from its gains after breaking further ground yesterday, with new highs in USD/JPY and new lows in EUR/USD.
Mixed Bulk Of Us Data – USD Sees Glass Half Full
Core CPI has slipped to 2.1% y/y, worse than expected. On the other hand, jobless claims drop to 235K, the lowest in years.
Euro-Zone Inflation Confirmed At 0.5% Y/y – EUR/USD Holds Up
Prices in the euro-zone advanced by 0.5% in the final read for October, as expected. Month over month, prices rose by only 0.2%, slightly below 0.3% expected.
UK Retail Sales Beats Expectations – GBP Jumps
Much better than expected retail sales numbers from the UK: they advanced 1.9% m/m in October, far better than 0.4% predicted. Year over year, the gain is 7.4%.
EUR/USD: Damage On 3 Fronts: Targeting Parity – Credit Suiss
EUR/USD has already dropped to the lowest levels of 2016 and remains under pressure. The team at Credit Suisse lists the common currency’s three issues and circles parity as a target.
Australian Jobs Report Does Not Look Good – AUD/USD Pressured
Australia reported a drop of 0.1% in the unemployment rate, from 5.7% to 5.6%, but this is basically the only positive detail in the report. The participation rate is down to 64.4%.
CAD: Post-Trump: More Reasons To Be Bearish CAD
The Canadian dollar had a weak hand from the very start and there are more reasons to bearish on the loonie.
EUR/USD: Justifiably Weaker On 2 Factors – Barclays
EUR/USD weakness following the US election should persist through out this week and reflects two factors: i) Widening US-EA interest rate differentials; and ii) increased euro area political risk premia.
UK Jobless Claims Jump By 9.8K – GBP/USD Suffers
Mixed figures from the UK. The good news comes from September: the unemployment rate dropped to 4.8% from 4.9%. Wages are OK, with average earnings rising remaining at 2.3% and excluding bonuses, at 2.4%.
USD/JPY Towards 112 Initial Target; EUR/USD: 1.07 Key Now – Morgan Stanley
Dollar/yen is already topping 109 but there may be more room for rises. However, EUR/USD could be limited. Here is the view from Morgan Stanley.
USD/JPY Tops 109 As Dollar Marches Forward – What’s Next?
Dollar/yen is defying all expectations: instead of crashing on safe-haven demand for the Japanese currency (something that did happen but lasted only a few hours), the pair is surging higher on expectations for “Trumponomics”.
AUD: Fade Attempts Above 0.78; GBP: To Recover Into 1.28 In Coming Weeks – BNPP
Despite a strong performance last week, Cable has been lower today because of broad USD strength. We still expect recovery to 1.28 in the weeks ahead.
US Retail Sales Beat Expectations With +0.8% – USD Rises
The USD is on the rise but is not going very far. The upside in the greenback could accelerate as the report is an absolute blockbuster. Consumption is fundamental to the US economy and could be decisive in determining a rate hike in December.
EUR/USD Bounces Within Perfect Range – Will It Last?
Yesterday, EUR/USD dropped to the lowest levels in 2016, testing support at those January lows. From there, the pair stabilized and eventually made a move to the upside.
UK Inflation Misses With 0.9% Y/y – GBP/USD Falls
Prices advanced by 0.1% m/m in October, significantly less than 0.3% expected. Year over year, price gains slowed down from 1% to 0.9%.
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