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Daily Report: Dollar Stays Weak on Doubt of 2015 HikeDollar remains generally weak as economic data continues to raise doubt on the case for Fed to hike interest rate by the end of the year. In particular, markets noted that there were two Fed governors arguing the case for delaying the hike, including Lael Brainard and Daniel Tarullo this week. Brainard urged Fed to wait to see "if the risks to outlook diminish". Tarullo was even more straightforward and said he "wouldn't expect it would be appropriate to raise rates” this year. Dollar broke near term support against Euro and Swiss Franc yesterday. The greenback is also pressing near term support against Yen and Canadian dollar for the moment. We'd probably see more selling in dollar till the end of the week. |
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| Featured Technical Report | |
USD/CAD Daily OutlookDaily Pivots: (S1) 1.2883; (P) 1.2960; (R1) 1.3009; More... USD/CAD's recovery could have completed after hitting 4 hours 55 EMA and focus is back on 1.2900 support. Break will extend recent decline from 1.3456 for 1.2834 support.. As noted before the medium term trend is possibly reversing. Break of 1.2834 will affirm this bearish case and target next key support level at 1.1919. In any case, risk will now stay on the downside as long as 1.3456 resistance holds. |
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Remark: Due to holidays, update will resume on Monday 19 Oct 2015. Candlesticks Intraday Trade Ideas Update Schedule (GMT): Elliott Wave Daily Trade Ideas Update Schedule (GMT): | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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