Forex Morning Briefing Major Pairs

Forex Morning Briefing, Major Pairs

$DXY, $EUR, $JPY, $GBP, $AUD, $CNY

Commentary: NKorea fires another missile, the markets yawn.PE

August US CPI came in at 1.9% yesterday, compared to expectation of 1.8% and 1.7% in July. This sent the EUR at 1.1911 down momentarily to 1.1836 and USD/JPY at 110.18)up to 111.04.

The US Dollar (.DXY) Index at 92.13 rose to 92.66.

The single currency remained above support during in the US session, in line with expectation. And then Friday’s early morning missile firing by NKorea pushed it up a bit. The Japanese Yen also strengthened and the USD and it came down below 92.50.

Now watch the German-US 10Yr Yield Spread (-1.77%). This has held above the Support at -1.79% and is indicative of EUR strength, which can move up to 1.1950+ again.

And the .DXY can come down to 91.80 or lower.

USD/JPY at 110.18 may be ranged between 110.70-109.70 Friday.

EUR/JPY at 131.19 dipped to 130.50 Thursday and remains below the resistance at 132.00. Expect it to be ranged within 132.25-130.00 for the next few days.

Sterling (GBP) at 1.3389 surprised and spiked up after the BOE hinted at a rate hike to a high of 1.3405. Be wary of long-term resistance between 1.3415-65.

AUD (Aussie) at 0.7995 continues to hold above support at 0.7950 and has a chance of seeing 0.8025 over the next few days.

USD/CNY at 6.5476 will move up to 6.60 soon I beleive.

Have a terrific weekend

.DXY, AUD, Bullish, consolidation, direction, EUR, forex, GBP, jpy, pairs, range

Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.