SGX IForex Recommendations

TRADING TIPS :
GBP/USD hit 1.4797 during European morning trade, the pair’s lowest since March 20; the pair subsequently consolidated at 1.4820, slipping 0.20%.The pound fell to one-week lows against the U.S. dollar on Friday, as demand for the greenback remained supported by the previous session’s upbeat U.S. data and as markets eyed an upcoming report on U.S. fourth quarter growth.The dollar found broad support after data on Thursday showing that the number of people filing unemployment assistance in the U.S. last week fell to a five-week low sparked optimism over the strength of the job market.

INTRADAY OUTLOOK

Support: 1.4837

Resistance: 1.4897

RECOMMENDATION:

1. Buy GBP/USD Above 1.4899-TG: 1.4919/1.4949 SL 1.4869

2. Sell GBP/USD Below 1.4835-TG: 1.4815/1.4785 SL 1.4865

INTRADAY OUTLOOK

Support: 1.0788

Resistance: 1.0848

RECOMMENDATION:

1. Buy EUR/USD Above 1.0850-TG: 1.0870/1.0900 SL 1.0820

2. Sell EUR/USD Below 1.0786 -TG:1.0766/1.0736 SL 1.0816

Forex Market Update

The U.S. dollar booked its largest two-week decline against the euro since September 2012 on Friday, sliding on expectations that the Federal Reserve will begin raising interest rates later, and more gradually, than market participants had previously anticipated.

The euro EURUSD, +0.04%  traded at $1.0886, compared with $1.0880 late Thursday. The dollar traded at 119.19 yen, compared with ¥119.19 level seen late Thursday.

The ICE U.S. Dollar Index DXY, -0.03% which gauges the dollar’s strength against six major currencies, was down EURUSD, +0.04%  slightly at 97.39.

The pound GBPUSD, +0.22%  traded at $1.4907, compared with $1.4853 Thursday.

Forex Market Update

The dollar lost ground against the yen Thursday, but traded higher against the euro after falling for most of the past week.

The dollar USDJPY, -0.02%  was down at ¥119.20 from ¥119.50 late Tuesday.

Meanwhile, the euro EURUSD, +0.02%  bought $1.0875, down from $1.0971 late Wednesday in New York, after gaining ground earlier Thursday against the dollar. The ICE U.S. Dollar Index DXY, -0.05% which gauges the dollar’s strength against six other currencies, was flat at 97.4040.

Forex Market Update

The dollar traded lower against its rivals Wednesday, continuing a bearish pattern that has persisted since Federal Reserve policy makers signaled one week ago that they would begin raising interest rates later than the market had expected.

The euro EURUSD, +0.17%  was at $1.0974, compared with $1.0924 late Tuesday in New York. 

The dollar has weakened against the euro during three of the past five sessions.

The dollar USDJPY, -0.41%  was at ¥119.41, compared with ¥119.74. The pound GBPUSD, +0.07%  rebounded against the buck, trading at $1.4916, compared with $1.4847.

Forex Market Update

The dollar gained against the euro Tuesday, supported by a spate of strong U.S. economic data and reports that Greece could soon run out of money.

One euro EURUSD, +0.02%  bought $1.0920, compared with $1.0946 late Monday.

The dollar USDJPY, -0.11%  was little changed at 119.69 yen, compared with ¥119.65 Monday.

The ICE U.S. Dollar Index DXY, -0.09% a measure of the dollar’s strength against a basket of six currencies, gained 0.1% to 97.1890.

The euro EURUSD, +0.03%  traded at 73.57 pence, compared with 73.20 pence late Monday. One pound GBPUSD, +0.07% bought $1.4848 compared with $1.4962.

Forex Market Update

The dollar traded lower against its rivals Monday after recording its largest weekly percentage decline against the euro since October 2011.

The euro EURUSD, -0.24%  traded at $1.0945, its highest end-of-session level against the buck in three weeks, compared with $1.0821 Friday evening.

The dollar USDJPY, -0.04%  traded at 119.72 yen, its lowest level against the Japanese currency in nearly a month. It traded at 120.04 Friday.

The ICE U.S. Dollar Index DXY, +0.29% a measure of the buck’s strength against a basket of six rival currencies, was about 1% to 97.0000.

The pound GBPUSD, -0.11%  traded at $1.4953, compared with $1.4953 Friday. Meanwhile, one euro traded at 73.20 pence, compared with 72.36 pence Friday.

Forex Market Update

The dollar finished the week about 1.5% lower against the euro Friday, snapping three weeks of gains.

The bulk of the dollar’s losses occurred after Federal Reserve policy makers said that they expect to begin raising interest rates later in the year—and more gradually—than the market expected.

The euro EURUSD, +1.50%  traded at $1.0821, compared with $1.0668 Thursday.

The ICE U.S. Dollar Index DXY, -1.28% a measure of the dollar’s strength against six rival currencies, finished the week down 2.4% at 97.6000.

Forex Market Update

The dollar recovered against its rivals Thursday after an unexpectedly dovish statement from Federal Reserve policy makers triggered the largest intraday selloff in the buck since 2009.

The euro EURUSD, +0.19%  traded at $1.0653, compared with $1.0831 at Wednesday’s close. The single currency briefly climbed above $1.10 after the close of the Fed’s news conference, its highest intraday level in two weeks.

The U.S. Dollar index DXY, -0.13% a measure of the dollar’s strength against six rival currencies, fell 3.6% intraday on Wednesday, its largest move since a 3.7% decline in March 2009. The index bounced back to 98.0760, up 0.5% on the day.

Against the yen, the dollar USDJPY, -0.02%  on Thursday fetched ¥120.81 compared with ¥120.09 late Wednesday.

Forex Market Update

The dollar dropped against its rivals, falling to its lowest level against the euro in eight days, after the Federal Reserve’s monetary policy statement implied that the central bank will keep its benchmark rate lower for longer.

After briefly rising above $1.10, the euro EURUSD, -0.85%  finished the North American session at $1.0873, recording its largest one-session move against the buck since December 2008. The shared currency had traded at $1.0598 Tuesday.

In other currency action, the dollar CADUSD, -0.29%  dropped to 1.2580 Canadian dollars, compared with $1.2766 late Tuesday. It USDJPY, +0.27%  traded at 120.23 yen, compared with ¥121.34 Tuesday.

Forex Market Update

The dollar traded flat against most rivals Tuesday, and inched lower against the euro for the second session, ahead of the expected release of the Federal Open Market Committee’s monetary policy statement Wednesday afternoon.

The euro EURUSD, +0.07%  traded at $1.0599, compared with $1.0578 Monday.

Meanwhile, the dollar USDJPY, -0.02%  was largely unchanged against the yen at ¥121.37, compared with ¥121.33 late Monday in New York. The pair has been largely unchanged since March 9, when the ECB began buying €60 billion in euro-denominated bonds.

The pound GBPUSD, +0.07%  traded at $1.4743, off a nearly 4½-year low reached last week, compared with $1.4829 Monday.

The WSJ Dollar Index BUXX, -0.05% a measure of the dollar’s strength against a basket of major currencies, was flat at 89.01, while the ICE dollar index DXY, -0.09%  rose 0.1% to 99.67.

Forex Market Update

The euro bounced back from a 12-year low versus the dollar Monday, but the shared currency is widely expected to remain under pressure as the Federal Reserve and the European Central Bank move in opposite directions on monetary policy.

Ahead of the Federal Open Market Committee policy meeting scheduled to end Wednesday, the euro EURUSD, -0.04%  was at $1.0568 after trading as low as $1.0457, its weakest against the greenback since Jan. 10, 2003. That compared with $1.0496 late Friday in New York.

Meanwhile, the dollar was little changed versus the yen USDJPY, +0.02%   at ¥121.37, compared with ¥121.43 late Friday in New York.

The ICE dollar index DXY, +0.02% a measure of the U.S. currency against a basket of six major rivals, fell to 99.70, compared with a level of 100.19 late Friday.

The WSJ Dollar Index BUXX, +0.01% a measure of the dollar against a wider basket of major currencies, was up slightly at 89.02.

Forex Market Update

The euro lost more than 3% of its value against the buck for the second straight week Friday, as the dollar’s eight-month rally resumed.

The euro EURUSD, -1.32% traded as low as $1.0465, its weakest level since January 2003, while the pound GBPUSD, -0.94% traded as low as $1.4700, its lowest level since June 2010, before both currencies staged a slight recovery. The euro traded at $1.0634 late Thursday, while the pound traded at $1.4849.

The ICE U.S. Dollar Index DXY, +0.91% a measure of the dollar’s strength against a basket of six currencies, was up 0.76% to 100.1900 in recent trade.

Forex Market Update

The dollar retreated against its rivals Thursday after the Commerce Department said U.S. retail-sales fell for the third-straight month in February.

The dollar USDJPY, +0.16%  changed hands at 121.35 yen Thursday afternoon after falling as low as ¥120.66 in the wake of the data. The buck traded at ¥121.47 Wednesday evening.

The euro EURUSD, -0.29%  traded at $1.0632, compared with $1.0547 Wednesday.

The British pound, however, surrendered its early gains against the dollar in afternoon trade, falling to a 20-month low of $1.4850 GBPUSD, -0.13% compared with $1.4910 Wednesday.

The ICE U.S. Dollar Index DXY, +0.13% a measure of the dollar’s strength against six rivals, fell 0.5% to 99.30.

Forex Market Update

The euro’s depreciation against the dollar accelerated Wednesday, pushing it closer to parity, as expectations for a June rate hike by the Federal Reserve drew more investors to the already-crowded dollar trade.

The euro EURUSD, -0.31%  traded as low as $1.0547, a nearly 12-year low, compared with $1.0700 late Tuesday in New York. The euro was down 1.4% against the dollar Wednesday, following a 1.4% decline Tuesday.

Against the yen, the dollar USDJPY, +0.00%  traded at ¥121.43, compared with ¥121.13 on Tuesday.


Disappointing U.K. manufacturing data pushed the pound GBPUSD, +0.01%  to $1.4928, its lowest level since mid-2013. 

Forex Market Update

The dollar rose against five of its six rival G-10 currencies Tuesday as investors worried that the Fed could raise rates prematurely, and that negotiations between Greece and its creditors could capsize.

The ICE U.S. Dollar Index DXY, +0.09%  , a measure of the buck’s strength against a basket of six rival currencies, rose 1.1% to 98.62, as U.S. stocks plummeted, with the Dow Jones Industrial Average seeing its worst day since Oct. 9.

The euro EURUSD, -0.10% traded at $1.0700 Tuesday evening, a level not seen since April 2003. That compares with $1.0853 late Monday in New York.

The greenback traded at ¥121.13, after rising to ¥122.01 during the European trading day, its highest level against the Japanese yen USDJPY, +0.17% since July 2007. The dollar bought ¥121.15 late Monday.

Meanwhile, the dollar traded at $1.50 to the pound GBPUSD, +0.09% compared with $1.51 Monday; at 8.56 krona USDSEK, +0.14%  to the dollar, compared with 8.49; at 0.9994 franc USDCHF, -0.07%  to the dollar, versus 0.9864 and 78.79 cents to the Canadian dollar CADUSD, -0.02%  , up from 79.21.

Forex Market Update

The dollar weakened Monday as traders bought back pounds and euros at lower levels following sharp falls in the value of those currencies on Friday.

The euro EURUSD, -0.42%  rose off a 12-year low to trade at $1.0853, compared with $1.0844 Friday. The pound GBPUSD, -0.30%  traded at $1.5126, compared with $1.5037.

The dollar USDJPY, +0.49%  inched higher against the yen, trading at ¥121.14, compared with ¥120.81 Friday.

The ICE U.S. Dollar Index DXY, +0.36% a measure of the buck’s strength against a basket of six rival currencies, was flat at 97.63.

Forex Market Update

The U.S. dollar hit an 11-year high against the euro Wednesday after pushing through a key technical threshold, shrugging off a weaker-than-expected ADP jobs report and strong eurozone reports.

The euro EURUSD, -0.16%   tumbled to $1.1073, its lowest level since late 2003.

The dollar USDJPY, +0.15%  inched higher against the yen after a measure of February service-sector activity in the U.S. came in higher than analysts had expected. The dollar traded at ¥119.70, compared with ¥119.67 late Tuesday.

The pound GBPUSD, -0.10%  traded at $1.5258, compared with $1.5362 Tuesday.

The ICE U.S. Dollar Index DXY, +0.18% a measure of the dollar’s strength against six of its largest trading partners’ currencies, was 0.62% higher at 95.9750.

Forex Market Update

The dollar inched lower against key rivals Tuesday after strong data out of Europe and the U.K. implied that economic growth in the rest of the world is beginning to catch up to the U.S.

The euro EURUSD, -0.05%  traded at $1.1175, compared with $1.1183 Monday evening, while the pound GBPUSD, -0.08%  traded at $1.5363, compared with $1.5359.

The dollar USDJPY, +0.01%  also drifted lower against the yen, trading at ¥119.70, compared with ¥120.14.

The ICE U.S. Dollar Index DXY, +0.10% a measure of the dollar’s strength against six of its largest trading partners, was down 0.06% on the day to 95.4090.

Forex Market Update

The dollar shrugged off a slate of weak economic data Monday to trade higher against the euro, yen and pound, benefiting from a surprise rate cut from the People’s Bank of China.

The euro EURUSD, +0.12%  fell to $1.1182, flat compared with its Friday-afternoon value of $1.1198. The buck USDJPY, -0.34%  traded at 120.18 yen, its highest level in nearly three weeks. It traded at ¥119.63 Friday. The pound GBPUSD, +0.10%  traded at $1.5366, compared with $1.5440 Friday.

The ICE U.S. Dollar Index, a measure of the greenback’s strength against a trade-weighted basket of six rival currencies, DXY, -0.20%  rose 0.2% to 95.47.

Forex Market Update

The U.S. dollar index posted a monthly gain after spending much of February in consolidation mode as investors await further signals on the timing of the Federal Reserve’s next interest-rate increase move.

The ICE dollar index DXY, +0.00% which tracks the U.S. currency against a basket of six major rivals, traded at 95.256, up from a level of 95.150 in North American trade late Thursday and near a level last seen in 2003. 

The euro EURUSD, -0.02%  traded at $1.1197, little changed from its level in late North American trade on Thursday.

The dollar was at ¥119.63 compared with USDJPY, +0.18%  ¥119.49 late Thursday in New York.