The U.S. currency fell 0.3 percent to 121.04 yen

Good morning from beautiful Hamburg and welcome to our last Daily FX Report for this week. French President Francois Hollande opened the prospect of striking a political deal with Greece to unlock bailout aid, as three-way talks with Prime Minister Alexis Tsipras reached deep into the night. Hollande, speaking on Thursday as he arrived for a European Union summit in Latvia, said the meeting with Tsipras and German Chancellor Angela Merkel would help pave the way for an accord to be hammered out by finance ministers at the end of May or early June. Negotiations between the three leaders began in a Riga hotel on the Daugava River after dinner and stretched beyond midnight. “With Tsipras we want to find solutions to restore confidence and release the funds that have been planned,” Hollande told reporters before the summit.

Anyway, we wish you a successful trading day!

Market Review – Fundamental Perspectiv

The United States dollar fell as tepid economic reports damped demand for the currency after minutes from the Federal Reserve’s last policy meeting left bulls with little to cheer. The U.S. currency snapped three days of gains versus the euro after housing and jobs data missed forecasts. The greenback weakened versus most of its major peers as traders digested minutes released Wednesday that suggest the Fed is unlikely to increase rates in June, while remaining open to tightening later this year. The dollar weakened 0.2 percent to $1.1112 per euro as of 5 p.m. in New York, after touching $1.1062 on Wednesday, its strongest level since April 29. The U.S. currency fell 0.3 percent to 121.04 yen, halting a five-day gain. Dollar bulls had been enjoying their best week since March, as a gauge of the currency rallied 1.9 percent into Wednesday’s close from an almost four-month low reached last week. By contrast, euro-area reports showed services and manufacturing expanded this month, supporting the 19-nation shared currency. U.S. stocks advanced, with the Standard & Poor’s 500 Index rising to an all- time high, while gauges on the strength of economic growth were mixed. The S&P 500 rose 0.2 percent to 2,130.82 at 4 p.m. in New York, its fourth all-time high in the last six sessions. The Dow Jones Industrial Average added 0.34 points, or less than 0.1 percent, to 18,285.74. The Nasdaq Composite Index climbed 0.4 percent. Both the Dow and Nasdaq briefly rose above their record closing levels. About 5.7 billion shares changed hands on U.S. exchanges, 12 percent below the three-month average.

Daily Technical Analysis

NYMEX.CL (Daily)

Crude Oil was able to recover slightly above the level of $60. Both Exponential Moving Average’s crossed after a long period to long which generated a buy signal. The Price touched now the long-term downward trendline. It might be possible that the recovery continue in the next weeks to the next resistances.

Support & Resistance (Daily)