Tag Archive: usd

EUR/USD advances further to 1.0940

FXStreet (Edinburgh) – The common currency is now accelerating its pace, sending EUR/USD to print session highs near 1.0940.

EUR/USD stronger on USD-selling

The poor performance of US Treasuries – with 10-year yields falling below 1.9%, lowest since late April – is removing an important tailwind for the greenback, which continues to shed gains below the 99.00 handle when tracked by the US Dollar Index.

Nothing worth mentioning in the data space, with the IBD/TIPP index due later across the pond, followed by the speech by Fed’s E.George and the API’s report on crude oil stocks.

EUR/USD levels to watch

The pair is now advancing 0.36% at 1.0934 facing the next resistance at 1.0969 (high Jan.28) followed by 1.1000 (psychological level) and then 1.1053 (200-day sma). On the other hand, a break below 1.0777 (post-ECB low Jan.21) would open the door to 1.0737 (38.2% Fibo of 1.0538-1.1059) and finally 1.0709 (low Jan.5).

The common currency is now accelerating its pace, sending EUR/USD to print session highs near 1.0940…

(Market News Provided by FXstreet)

NZD/USD edges lower after Fonterra’s dairy auction

FXStreet (Córdoba) – NZD/USD edged lower and hit fresh daily lows after Fonterra’s Global Dairy Trade price index fell 7.4% at today’s auction.

NZD/USD fell under previous daily lows and hit a fresh one at 0.6460 after the GDT auction figures were released. However, data had only mild impact on the kiwi, which continues to trade well within yesterday’s range. At time of writing, NZD/USD is trading at 0.6465, down 1.19% on the day.

The previous Fonterra reading on January 19th showed a 1.4% decline in the price index. The index has gained relevance lately, as approximately 7% of New Zealand GDP comes from milk exports.

NZD/USD technical levels

As for technical levels, if NZD/USD breaks below 0.6447 (Feb 1 low), next supports could be found at 0.6410 (Jan 21 low) and 0.6347 (Jan 20 low). On the flip side, resistances line up at 0.6557 (Feb 1 high), 0.6589/93 (Jan 13 high/100-day SMA) and 0.6626 (50- day SMA).

NZD/USD edged lower and hit fresh daily lows after Fonterra’s Global Dairy Trade price index fell 7.4% at today’s auction.

(Market News Provided by FXstreet)

WTI oil extends losses, nears $30/barrel

FXStreet (Mumbai) – The US oil prices extended losses to a new daily low of USD 30.17/barrel as Iran’s plans to increase exports at faster-than-expected rate squashed hopes of a joint production cut.

Oil down more than 4%

At USD 30.120/barrel, WTI futures are down 4.3%. As per Shana news, Iran is targeting 2.3 million barrels of crude oil exports per day. This should put to rest any possibility of a joint OPEC and non-OPEC production cut.

Consequently, the traders are responding by sending oil contracts at both the sides of the Atlantic lower. The API inventory data in the US may make matters worse if it shows a rise in the storage levels.

WTI oil Technical Levels

The immediate resistance is seen at 30.76 (4-hr 100-MA), above which the gains could be extended to 31.58 (hourly 50-MA). On the other hand, a break below 30.00 levels could open doors for a slide to 29.26 (Jan 26 low).

The US oil prices extended losses to a new daily low of USD 30.17/barrel as Iran’s plans to increase exports at faster-than-expected rate squashed hopes of a joint production cut.

(Market News Provided by FXstreet)