US Retail Sales came in better than expected which helped to boost the US$ and this, in turn, helped to develop weakness in both Gold and the EUR/USD; moves that started at the end of the Asian trading session. The DXY remains within the weekly triangle but keep watch for any momentum breakout.

The market to and fro continues and I’m not the only one to notice. Check comments here and here. What is is going to take for greater clarity to emerge? Today’s US Retail Sales, the next FOMC or a DXY breakout? Both FX indices, USDX and EURX are stuck within their weekly Ichimoku Cloud, and […]

US CPI was softer than expected and this resulted in a risk-off shift into the US$ and Yen and out of stocks. The Kiwi continues to hold up relatively well though which I think is worth keeping in mind. Market top periods of ‘Distribution’ are renown for being choppy so I do wonder if this […]

There hasn’t been a whole lot of market movement but watch to see if today’s US CPI data gets things going at all. Most of the charts are little changed from the w/e update.

Any hope that the ECB update might trigger some new movement and clarity has been put to rest. Most instruments are lacking direction on low momentum and the Currency Strength Indicator screen shot of the 4hr chart reflects this rather clearly. There is US CPI and Retail Sales data next week so maybe these items […]