The US$ edged lower after US CPI came in better than expected. This may seem counter intuitive, from a fundamental perspective, but it fits in rather neatly with the current technical landscape: there is considerable resistance ahead for the US$ and there was the look of a bullish-reversal descending wedge on the EUR/USD. This US$ […]

There hasn’t been a lot of change since last session and I suspect traders are waiting for guidance from today’s US CPI data. The EUR/USD remains heavy and just above 1.15 but, remember, 1.13 is the line in the sand level here. There is US Retail Sales to come this week and Earnings season is […]

The main talking point for the start of the week has been Yen weakness which helped to develop great trend line breakouts across the USD/JPY, AUD/JPY and GBP/JPY. There isn’t a lot of change across other charts but I am surprised to see the EUR/USD holding up so well considering the US$ strength.

Last week: US stocks closed lower on Friday after the disappointing monthly jobs report but the S&P500, DJIA and NASDAQ still managed to close higher for the week. The NFP report showed upward pressure on wages but a lower than expected number of new jobs added which some attribute to concerns about returning to work in […]

Stocks are a bit higher and the AUD a bit firmer but many charts are still in a consolidation phase ahead of today’s NFP.