The EUR/SUD trades around 1.1590, slightly up on the day. The US Philly Fed Manufacturing Index fell to 19.9 points, well below 29.9 expected and this weighs on the USD. Earlier, concerns about Italy sent the pair down.
The GBP/USD is trading around 1.3240, up some 0.50% on the day. The BOE came out with an optimistic message about the economy and three members voted for a hike. The US Philly Fed figure badly disappointed.
Concerns are growing over the economic damage inflicted by Trump's tariffs, especially the recent $200 billion number that was circulated, and the consequent retaliation. Commodity currencies are battered, the Euro and Pound are falling, and the safe-haven yen sees some demand.
There is no press conference following the Bank of England June meeting, but Governor Mark Carney is set to deliver Mansion-house dinner speech later on Thursday.
BTC/USD reached a strong resistance at $6,750, created by an upper line of Andrew's pitchfork. Breaking above this line, BTC will effectively threaten the bearish trend that has been developing since the beginning of May and eaten over 30% of its value.
Bitcoin Cash price analysis: BCH/USD trims gains after rejecting supply zone support; UK self-regulatory body tells MPs to regulate cryptocurrencies or miss out on the technology
Bitcoin Cash price has been restricted below $930 for over a week now owing to the extended selling pressure that commenced two weeks ago. Moreover, the support provided by the 23.6% Fib retracement level with the previous swing high of $925.
Ripple, the third largest coin by market value, is changing hands at $0.5360, off Wednesday's low at $0.5229, but still way below critical $0.5600. The coin is 1.3% higher than this time yesterday but mostly unchanged on the day.
Dash to launch state of the art DashCopay wallet app in the wake of AloGateway partnership: Dash price still range-bound
Dash is cryptocurrency that has been transforming outlook since its inception. It was launched in 2014 as XCoin but because of the privacy features it rebranded to Darkcoin but in it change again to Dash to allow it to be a global payment processing system.
The Bank of England is expected to leave the Bank rate unchanged at 0.50% with statement remaining dovish.
The US weekly jobless claims are expected to reach 220K.
Canada’s ADP employment report is expected to see 20K new jobs added in June.
The Bank of England Governor Mark Carney is set to deliver a Mansion-house dinner speech at 20:15 GMT.Read Full Report
A hawkish Fed and a dovish ECB made the EUR/USD pair collapse toward weekly lows
What a week! Things moved in slow motion until Thursday across the FX board, but intense headlines kept coming pretty much since the week started. The dollar refused to surge despite encouraging local data, as speculative interest wanted to asses all the first-tier events before making up their minds one way or the other.
The EUR/USD consolidated its previous losses and stabilized below 1.1600. What's next? Rising may be harder than falling.
The Technical Confluences Indicator shows that that the pair faces a dense cluster of resistance lines at 1.1580 which is the confluence of the Simple Moving Average 100-15m, the Fibonacci 61.8% one-day, the Simple Moving Average 50-15m, the SMA 200-15m, the SMA 5-4h, the SMA 50-1h, and the SMA 10-4h.
Should the pair break above this level, there are quite a few lines of resistance with the 1.1645 level standing out as the convergence of significant levels: the Fibonacci 161.8% one-day, the Fibonacci 23.6% one-month, and also the Pivot Point one-day Resistance 2.
NEXT LIVE SHOWS
|Date||Event Title||Sponsor||More Info|
|Premium||How to Make Money Even When You Are Wrong Alex Ong||Event Details|
|Premium||3 Ways to Trade Engulfing Patterns Walter Peters||Event Details|
|Premium||Automating supply & demand trading with proof of concept Sarid Harper||Event Details|
|LIVE NFP: 147th Non-Farm Payrolls Coverage Wayne McDonell||Event Details|