Dollar ends lower on caution ahead of U.S. data

AceTrader Team AceTrader

The greenback fell against majority of its peers on Monday as investors remained cautious ahead of incoming U.S. inflation and retail sales data.

Versus the Japanese yen, dollar met renewed selling at 109.77 in New Zealand and fell to 109.48 in Asia before rebounding to 109.61 at European open but only to tumble to session lows of 109.25 ahead of New York open due to usd's broad-based weakness. The pair then recovered to 109.45 in New York afternoon and then moved sideways.

Although the single currency fell form 1.1904 in New Zealand to session lows of 1.1872 in European morning on cross-selling in euro, price erased intra-day losses and rallied to 1.1919 due to renewed usd's weakness and the moved broadly sideways in subdued New York session.

The British pound met renewed selling at 1.3720 in New Zealand and re-tested last Friday's 2-month low at 1.3670 ahead of European open. However, cable then erased intra-day losses and rallied to session highs of 1.3776 at New York open on cross-buying in sterling together with usd's weakness before retreating to 1.3732 on profit-taking.

Data to be released on Tuesday :

New Zealand NZIER confidence, retail sales, Australia NAB business conditions, NAB business confidence, U.K. BRC retail sales, GDP, Industrial output, manufacturing output, construction output, trade balance, Italy industrial output, Germany wholesale price index, ZEW economic sentiment, ZEW current conditions, EU ZEW survey expectation, U.S. core CPI, CPI, redbook.

Author

AceTrader Team

AceTrader

Led by world-renowned technical analyst Wilson Leung, we have a team of 7 analysts monitoring the market and updating our recommendations and commentaries 24 hours a day.

EUR/USD flat lines below 1.1900; divergent Fed-ECB expectations offer support

The EUR/USD pair struggles to capitalize on the overnight bounce from the 1.1835-1.1830 region and oscillates in a narrow band during the Asian session on Thursday. Spot prices currently trade around the 1.1875 area, remaining nearly unchanged for the day and staying within striking distance of an over one-week high, reached on Tuesday, amid mixed cues.

GBP/USD bullish outlook prevails above 1.3600, UK GDP data looms

The GBP/USD pair gains ground near 1.3635, snapping the two-day losing streak during the early European session on Thursday. The preliminary reading of UK Gross Domestic Product for the fourth quarter will be closely watched later on Thursday. The UK economy is estimated to grow 0.2% QoQ in Q4, versus 0.1% in Q1.

Gold down but not out as focus shifts to more US data

Gold is back in the red near $5,050 early Thursday, having faced strong offers at around the $5,100 mark once again. Buyers keep a close eye on the mid-tier US Jobless Claims data and US-Iran geopolitical developments to regain control.

UK GDP set to post weak growth as markets rise bets on March rate cut

Markets will be watching closely on Thursday, when the United Kingdom’s Office for National Statistics will release the advance estimate of Q4 Gross Domestic Product. If the data land in line with consensus, the UK economy would have continued to grow at an annualised pace of 1.2%, compared with 1.3% recorded the previous year.

The market trades the path not the past

The payroll number did not just beat. It reset the tone. 130,000 vs. 65,000 expected, with a 35,000 whisper. 79 of 80 economists leaning the wrong way. Unemployment and underemployment are edging lower. For all the statistical fog around birth-death adjustments and seasonal quirks, the core message was unmistakable. The labour market is not cracking.

XRP sell-off deepens amid weak retail interest, risk-off sentiment

Ripple (XRP) is edging lower around $1.36 at the time of writing on Wednesday, weighed down by low retail interest and macroeconomic uncertainty, which is accelerating risk-off sentiment.