The dollar pared losses against the euro after data showed the pace of business activity in the U.S. Midwest rose in July.
The euro last traded at $1.2280, up 0.2 percent on the day, compared with $1.2297 before the data.
"What it does do, however, is guarantee the Fed won't take any action tomorrow because we have not seen enough pullback in the U.S. economy to justify any action," said Kathy...
WRAPUP 1-Slower Canada growth may keep rates 'low for longer'
* GDP growth disappoints, casts doubt on Q2 forecasts
* Bank of Canada seen in "low for longer" rate stance
* Natural resources, retail, finance main drivers of growth
* Manufacturing and construction shrink
* Industrial product, raw materials prices fall in June
OTTAWA, July 31 (Reuters) - Economic growth in Canada shifted into low gear in May on unexpected weakness in the manufacturing...
EURUSD Measured Support at 1.2153
The implications from the model are that the USD weakens (on balance) for another several weeks before ‘take-off’.
The AUDUSD has tagged the line that extends off of the July highs. This line, in conjunction with the 3/6 and 3/19 lows at 10509 and 10557 is a good place for the beginning of a larger pullback (probably a b wave).
The EURUSD continues to consolidate the 5 wave advance from 12040. A drop below 12225 could compose wave...
Dollar pares loss ahead of Fed, ECB.
The dollar pared a decline against the euro and gained ground versus other major currencies on Tuesday, as traders awaited the kickoff of a two-day meeting of U.S. Federal Reserve policy makers and Thursday’s policy meetings at the European Central Bank and Bank of England.
The ICE dollar index DXY -0.20% , which measures the greenback against a basket of six currencies, traded at 82.820, down from 82.829 in late North...
FOREX-Euro loses momentum, Aussie up on stimulus hopes.
* Euro takes a breather, retreats from 3-week high
* Euro zone data dismal, businesses more pessimistic
* Aussie still strong on European stimulus hopes
By Ian Chua
SYDNEY, July 31 (Reuters) - The euro consolidated recent gains on Tuesday following a slew of negative economic news, while high expectations that major central banks were poised to add more stimulus helped keep risk currencies like...
UPDATE 1-Obama warns of economic 'headwinds,' sees euro surviving.
President Barack Obama warned on Monday the U.S. economy would face continuing "headwinds" over the next few months, with Europe's debt crisis still posing a challenge, but predicted the euro zone and its currency would remain intact.
"I don't think ultimately that the Europeans will let the euro unravel but they are going to have to take some decisive steps," Obama said at a campaign...
How to Manage Losing Trades.
If there is one feeling that traders universally abhor, it would probably be the emotion derived from watching a losing trade turn deeper, and deeper against them.
At this specific point in time – you are watching yourself getting poorer; the complete antithesis of why you trade.
If the trade is left unchecked, things can get really ugly very fast. An overleveraged position can lead to an outsized loss;...
MONEY MARKETS-Draghi offers Spanish bank, sovereign CDS respite
The cost of insuring debt issued by Spanish banks and by the sovereign against default fell on Monday on bets the European Central Bank could soon resume its bond-purchasing programme in a bid to bring Spain's borrowing costs to sustainable levels.
ECB President Mario Draghi said last week the central bank would do whatever it takes to protect the euro, prompting a majority of money market traders...
MONEY MARKETS-Draghi offers Spanish bank, sovereign CDS respite
The cost of insuring debt issued by Spanish banks and by the sovereign against default fell on Monday on bets the European Central Bank could soon resume its bond-purchasing programme in a bid to bring Spain's borrowing costs to sustainable levels.
ECB President Mario Draghi said last week the central bank would do whatever it takes to protect the euro, prompting a majority of money market traders...
MONEY MARKETS-Draghi offers Spanish bank, sovereign CDS respite
The cost of insuring debt issued by Spanish banks and by the sovereign against default fell on Monday on bets the European Central Bank could soon resume its bond-purchasing programme in a bid to bring Spain's borrowing costs to sustainable levels.
ECB President Mario Draghi said last week the central bank would do whatever it takes to protect the euro, prompting a majority of money market traders...
Merkel, Monti: will do all to protect eurozone.
Germany's Merkel, Italy's Monti agree to do everything to protect eurozone; to meet next month.
The German and Italian leaders have pledged to do everything to protect the eurozone, adding to a string of assurances over recent days that Europe is determined to get a grip on the continent's debt crisis — but their governments again gave no details of any action.
Sunday's statement from Germany...
