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The Bank of England decided not to cut rates in a move that surprised many and boosted the pound. However, it kept us waiting for the next decision, just three weeks away. Here are three reactions: Here is their view, courtesy of eFXnews: BoE On Hold As We Expected; Paving The Way To An August Rate [...]

The post BOE keeps us waiting 3 weeks – 3 reactions appeared first on Forex Crunch.

EURUSD Daily Analysis   EURUSD (1.112): EURUSD has been bullish for the past two days with price action seen clearing above 1.110 yesterday. Following the break of the inverse head and shoulders pattern yesterday, EURUSD remained largely flat with brief retest back to the broken neckline resistance of 1.110 to establish support. Further upside is [...]

The post EURUSD , GBPUSD , USDJPY and XAUUSD TA – July 15 2016 appeared first on Forex Crunch.

The Australian dollar continues looking good. After Australian employment data seemed good enough, figures from Australia’s No. 1 trade partner look even better. China reported a growth rate of 6.7% in Q2 2016 slightly better than 6.6% expected and identical to Q1. Industrial output surprised to the upside with 6.2% instead of 5.9% expected and 6% last [...]

The post AUD/USD continues trending higher in channel after Chinese data appeared first on Forex Crunch.

A villain murdered more than 80 people celebrating France’s Bastille Day in Nice, southern France. The horrific stampede is clearly an act of terror and it joins previous attacks in Paris and in the Brussels, Belgium. France has extended the state of emergency hours after President Hollande announced the planned removal of this measure. We also heard that [...]

The post Terror attack could impact GBP more than EUR appeared first on Forex Crunch.

A mixed jobs report from Canada: the nation lost 0.7K jobs instead of gaining ones. However, the unemployment rate dropped to 6.8%. The participation rate slides to 65.5%, and that explains the drop in the unemployment rate. All in all, a slightly disappointing publication from Ottawa.  USD/CAD is at 1.3030, up, but that’s mostly because of the great [...]

The post Canada loses 0.7K jobs – USD/CAD up (also on NFP) appeared first on Forex Crunch.

Analysts from Lloyds Bank point out that next week main events in the United Kingdom will be the testimony of Mark Carney on Tuesday and the second reading of Q1 GDP on Thursday.

Key Quotes:

“In the UK, Bank of England Governor Carney (Tue) will appear before the Treasury Select Committee to answer questions on the latest Inflation Report. He will no doubt face questions about the economic forecasts, including his views on the potential risks surrounding the EU referendum.”

“Data wise, we expect the second estimate of UK Q1 GDP (Thu) to be unrevised at 0.4%q/q, though there will be the first expenditure breakdown of the figures which should show consumer spending remaining firm and a rebound in investment after the contraction in Q4.”

“The GfK consumer confidence index (Fri) will provide a more up-to-date indicator of sentiment in the current quarter. The index fell to a 16-month low of -3 in April, though we look for stabilisation at the current level in May. BBA figures on house purchase loans (Thu) will also be watched to gauge the impact of the Chancellor’s stamp duty levy on second homes which began in April.”
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