Macro Releases: EUR/USD, USD/CAD, AUD/USD [Video]

Dukascopy Bank Team Dukascopy Bank SA

EUR/USD: US Retail Sales

The European Common currency traded sideways against the US Dollar, following the US Retail Sales data release on Wednesday at 12:30 GMT. The EUR/USD exchange currency rate lost 6 pips or 0.06% right after the release. The Euro continued trading at the 1.1185 level against the Greenback.

Census Bureau released the US Core Retail Sales data, which came out worse-than-expected of 0.1% compared with forecast 0.7%.

According to analysts, the US Retail Sales dropped unexpectedly due to the decreased demand for automobiles and building materials.

USD/CAD: Canadian CPI

The US Dollar traded sideways against the Canadian Dollar, following the Canadian CPI data release on Wednesday at 12:30 GMT. The USD/CAD exchange currency rate lost 9 pips or 0.07% right after the release. The US Dollar continued trading at the 1.3480 level against the Canadian Dollar.

Statistics Canada released the Canadian CPI data, which came out in line with expectations of 0.4%. Note, that the US Retail Sales were released at the same time.

According the official release: "The Consumer Price Index (CPI) rose 2.0% on a year-over-year basis in April, following a 1.9% increase in March. The gasoline index decreased 1.6% year over year, following a 4.4% decline in March, while prices increased 10.0% month over month. Excluding gasoline, the CPI rose 2.3% year over year."

AUD/USD: Australian Wage Price Index

The Australian Dollar traded sideways against the US Dollar, following the Australian Wage Price Index data release on Wednesday at 01:30 GMT. The AUD/USD exchange currency rate lost 8 pips or 0.12% right after the release. The Aussie continued trading at the 0.6930 level against the Greenback.

Australian Bureau of Statistics released the the Australian Wage Price Index data, which came out worse-than-expected of 0.5% compared with forecast 0.6%.

The Reserve Bank of Australia has emphasized that it would focus on developments in the labour market at its upcoming meeting. Despite weak data release, the Australian policymakers remain to stay optimistic about the current situation on the labour market.

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Dukascopy Bank SA

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EUR/USD trims gains, hovers around 1.1900 post-US data

EUR/USD trades slightly on the back foot around the 1.1900 region in a context dominated by the resurgence of some buying interest around the US Dollar on turnaround Tuesday. Looking at the US docket, Retail Sales disappointed expectations in December, while the ADP 4-Week Average came in at 6.5K.

GBP/USD comes under pressure near 1.3680

The better tone in the Greenback hurts the risk-linked complex on Tuesday, prompting GBP/USD to set aside two consecutive days of gains and trade slightly on the defensive below the 1.3700 mark. Investors, in the meantime, keep their attention on key UK data due later in the week.

Gold loses some traction, still above $5,000

Gold faces some selling pressure on Tuesday, surrendering part of its recent two-day advance although managing to keep the trade above the $5,000 mark per troy ounce. The daily pullback in the precious metal comes in response to the modest rebound in the US Dollar, while declining US Treasury yields across the curve seem to limit the downside.

Bitcoin Cash trades lower, risks dead-cat bounce amid bearish signals

Bitcoin Cash trades in the red below $522 at the time of writing on Tuesday, after multiple rejections at key resistance. BCH’s derivatives and on-chain indicators point to growing bearish sentiment and raise the risk of a dead-cat bounce toward lower support levels.

Dollar drops and stocks rally: The week of reckoning for US economic data

Following a sizeable move lower in US technology Stocks last week, we have witnessed a meaningful recovery unfold. The USD Index is in a concerning position; the monthly price continues to hold the south channel support.

Bitcoin Cash trades lower, risks dead-cat bounce amid bearish signals

Bitcoin Cash (BCH) trades in the red below $522 at the time of writing on Tuesday, after multiple rejections at key resistance. BCH’s derivatives and on-chain indicators point to growing bearish sentiment and raise the risk of a dead-cat bounce toward lower support levels.