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The euro is taking a major leg-up against the dollar on Thursday. Gains were capped by the weekly R3 at 1.0780.
Sterling is rallying once again after yesterday’s consolidation phase. Any further gains will likely by fueled by weaker US fundamental data, as there is no fundamental data committed with the UK set to be released during Thursday’s journey. Governor Carney will speak later in the day and a dovish tone will likely push sterling lower.
Dollar/yen gradually moves higher. Though, recovery is awfully taking a long time to be accomplished. At the time of writing this post the exchange in trading slightly above the 109 mark. A close above this level will likely lift the tone for the 109.60 level where the weekly PP is located at and then till the 110 level.
Gold is lower. It rests around the 1.278 level, where the 61.80% retracement is located at.
Oil prices are recovering today after yesterday’s slump. The EIA reported yesterday that crude stocks fell 1.0M barrels in the week ended April 14, though gasoline inventories climbed 1.5M barrels, falling behind expectations of a fall.
The IMF released a report where it states that the euro area, the USA, the UK and China will grow 1.7%, 2.3%, 2.0% and 6.6%, respectively in 2017. A less pessimistic forecast than previously reported.
China’s recent recovery has been built with credit growth offered by financial institutions blessed with PBOC’s softer reserve requirement ratios. The property market is showing signs of overheating and a cooling scenario of it in the 2nd quarter will likely defy IMF’s projection growth for 2017.
Sterling is rallying once again after yesterday’s consolidation phase. Any further gains will likely by fueled by weaker US fundamental data, as there is no fundamental data committed with the UK set to be released during Thursday’s journey. Governor Carney will speak later in the day and a dovish tone will likely push sterling lower.
Dollar/yen gradually moves higher. Though, recovery is awfully taking a long time to be accomplished. At the time of writing this post the exchange in trading slightly above the 109 mark. A close above this level will likely lift the tone for the 109.60 level where the weekly PP is located at and then till the 110 level.
Gold is lower. It rests around the 1.278 level, where the 61.80% retracement is located at.
Oil prices are recovering today after yesterday’s slump. The EIA reported yesterday that crude stocks fell 1.0M barrels in the week ended April 14, though gasoline inventories climbed 1.5M barrels, falling behind expectations of a fall.
The IMF released a report where it states that the euro area, the USA, the UK and China will grow 1.7%, 2.3%, 2.0% and 6.6%, respectively in 2017. A less pessimistic forecast than previously reported.
China’s recent recovery has been built with credit growth offered by financial institutions blessed with PBOC’s softer reserve requirement ratios. The property market is showing signs of overheating and a cooling scenario of it in the 2nd quarter will likely defy IMF’s projection growth for 2017.
