The Euro and Pound have taken turns the past few days falling out of favor Greece’s troubles and Dovish BoE rhetoric the catalysts for bearish sentiment. The EUR/GBP has started to settle onto a narrow range as the currencies remain in a stalemate, despite losing ground against other majors. MPC member Andrew Sentence warned of the potential of a double dip recession and forecasted that inflation would fall back below target levels. This sparked a bearish sterling reaction as it came from the typically hawkish policy masker. Meanwhile, the single currency remain under pressure as Greece appears closer to looking to the IMF for help which would generate questions over the E.U.’s solidarity and threaten the Euro’s future.

EURUSD expectations are for a small 2nd wave to bring price back to 13640-13700 either today (Friday) or Monday.

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Gold 03-19

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US Dollar / Swiss Franc 03-19

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US Dollar / Canadian Dollar 03-19

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US Dollar / Japanese Yen 03-19

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EURUSD: Bears Regain Control Below 1.38 Figure
USDJPY: Prices Stall at Major Channel Top
GBPUSD: Stay Short Through Corrective Upswing
USDCAD: Sellers Break Support, Stall at Fib Level
AUDUSD: Positioning Hints Bearish Reversal Ahead
NZDUSD: Medium-Term Top in Place Below 0.72?

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US Dollar: Is the Uptrend Ready to Resume?

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Canadian CPI Accelerates More Than Expected, USDCAD Plunges

Canadian consumer prices in February slipped to 1.6% from 1.9%, surpassing estimates of 1.4% as energy costs dropped by -1.2%. The core reading which strips out energy costs unexpectedly rose to 2.1% from 2.0%, which is above the BoC’s threshold.

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Core Canadian CPI Breaches Threshold, Putting BoC on Alert