OctaFX | OctaFX Forex Broker
Open trading account
Back

Forex: USD/JPY ranges below 98.00

FXstreet.com (Barcelona) - The USD/JPY remains unable to reach the 98.00 handle after three attempts since the European opening, two capping at 97.97 and the latest at 97.91. After the early fall from 98.00 ground to 97.32 low, this ranging period has been held by 97.65/70 area on the downside. The US economic calendar still has pending home sales and Dallas Fed manufacturing business index ahead.

US Core income disappointed at 0.2% in March, instead of 0.4%, and spending rose 0.2%, instead of 0.0% expected. The price of personal consumption expenditures fell -0.1% (MoM) to an annualized drop from 1.3% to 1.0%, as expected. Core prices came in at 0.0% (MoM) to an annualized drop from 1.3% to 1.1%, below consensus of 0.1% and 1.2%, respectively.

“We think, today the pair may move downwards with the first target at 96. Later, in our opinion, the price may form a consolidation channel to break an ascending channel and then continue falling down to reach the level of 93.70”, wrote Roboforex.com analyst Igor Sayadov

Forex Flash: Draghi and his sweaty palms - Investec

Investec Treasury Analysts believe that Mario Draghi, the head of the European Central Bank (ECB), is likely to have sweaty palms going into one of the most eagerly anticipated ECB rate decisions in months this Thursday.
Read more Previous

Forex: GBP/USD backs away from highs

The British pound is giving up ground versus the dollar at the beginning of the NY session, as the recent rally found resistance at 1.5545 where the pair scored a 2 ½-month high earlier on the day.
Read more Next
Start livechat