When will this USD weakness end
Price action on most pairs has been range bound for the month of June to the noticeable exception of the USD/CAD. With June coming to an end as the second quarter just prior to the 4th of July weekend, high volatility is certainly expected. Most traders and fund managers will be taking profit or cutting losses to close out the first half of the year on all markets. Bear in mind that the stock markets have put in an incredible performance in this second quarter and profit taking may trigger a
Comprehensive FX and Futures Daily Research
EUR/USD Bounces Back Above 1.40 The EUR/USD’s upswing on Friday fell short of 6/24 highs as we anticipated since volume wasn’t strong enough to create a more significant movement to the upside. The currency pair is propelling from our 2nd tier uptrend line on Monday after the EU reported a better than expected consumer sentiment and economic confidence numbers. However, despite the improvement, the -31 consumer sentiment number is still a far cry from 2005 lows of -15. Additionally, the