15 Apr 2014
Session Recap: The Dollar advances... but not
FXStreet (San Francisco) - The US dollar advanced... a little, on Monday as investors bet on better than expected US retail sales in March. However market experts are doubting about the movement healthy and its strength.
"What would the US dollar be doing if retail sales was weak?" asked Adam Button fro ForexLive.com in a recent report. "The numbers were good and all USD/JPY could muster was a 15 pip bounce that’s since been wiped out completely. And that’s after after 150 pip decline last week."
The USD/JPY advanced for second day as the pair recovered from 101.30 and tested the 102.00 but it was unable to break above this level and it closed at 101.90 with marginal gains.
The EUR/USD extended losses across the Asian and European sessions but movements were limited in the American session around 1.3815. "In the 4 hours chart the pair presents a limited bearish tone, as indicators aim now higher barely below their midlines," comments FXStreet chief analyst Valeria Bednarik. "Current bearish tone may face strong buying interest in the 1.3750/80 area, with bears taking control only with a break below 1.3720 support."
Main headlines in the American session
US: Retail Sales (Mar) up 1.1%
US Feb business inventories +0.4% vs +0.5% exp
Wall Street closes with gains after a furious bounce
"What would the US dollar be doing if retail sales was weak?" asked Adam Button fro ForexLive.com in a recent report. "The numbers were good and all USD/JPY could muster was a 15 pip bounce that’s since been wiped out completely. And that’s after after 150 pip decline last week."
The USD/JPY advanced for second day as the pair recovered from 101.30 and tested the 102.00 but it was unable to break above this level and it closed at 101.90 with marginal gains.
The EUR/USD extended losses across the Asian and European sessions but movements were limited in the American session around 1.3815. "In the 4 hours chart the pair presents a limited bearish tone, as indicators aim now higher barely below their midlines," comments FXStreet chief analyst Valeria Bednarik. "Current bearish tone may face strong buying interest in the 1.3750/80 area, with bears taking control only with a break below 1.3720 support."
Main headlines in the American session
US: Retail Sales (Mar) up 1.1%
US Feb business inventories +0.4% vs +0.5% exp
Wall Street closes with gains after a furious bounce