{"id":156560,"date":"2019-10-01T10:05:52","date_gmt":"2019-10-01T14:05:52","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=156560"},"modified":"2019-10-01T08:43:12","modified_gmt":"2019-10-01T12:43:12","slug":"dollar-gains-on-month-end-safe-haven-flows","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/10\/dollar-gains-on-month-end-safe-haven-flows\/","title":{"rendered":"Dollar Gains On Month End & Safe Haven Flows"},"content":{"rendered":"
October 1, 2019<\/div>
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By <\/strong>Orbex<\/strong><\/a><\/p>\n

The US dollar rose to a four-week high on Monday. The gains came amid the end of the month and quarterly flows. The USD also found favor as a safe haven asset as investors await more details from Washington.<\/p>\n

The US administration proposed restricting investments to China. A move that could potentially spark strong reactions from the world\u2019s second-largest economy.<\/p>\n

Euro Slips to a Fresh 2-year Low<\/strong><\/h2>\n

The common currency slid to post a fresh two-year low on Monday. The intraday declines came amid investors piling into the safety of the US dollar. Concerns about the potential restriction on investments to China saw a demand for the greenback.<\/p>\n

Meanwhile, on the economic front, the German retail sales report showed a 0.5% increase, matching estimates. Germany\u2019s preliminary inflation report, however, saw a flat print for September.<\/p>\n

EURUSD Could Bounce Back Higher<\/strong><\/h3>\n

The currency pair is extending declines lower. Following the decline to 1.0884, the common currency is attempting to rebound. This is evident from the bullish divergence forming on the Stochastics. However, to confirm the divergence, EURUSD needs to close above 1.0944. This will open the upside toward 1.1030.<\/p>

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\"EURUSD\"<\/a><\/p>\n

UK GDP Confirmed to Have Contracted 0.2% in Q2<\/strong><\/h2>\n

The UK\u2019s final revised GDP figures were published on Monday. The report showed that the economy contracted 0.2 percentage points in the three months ending June.<\/p>\n

There was little market reaction to the economic data in\u00a0the backdrop of the Brexit drama.<\/a>\u00a0The GBPUSD briefly pared losses before reversing the trend.<\/p>\n

GBPUSD to Resume Declines<\/strong><\/h3>\n

The GBPUSD rose briefly during the intraday session, but prices were rejected promptly. The GBPUSD currency pair has turned flat following a decline 1.2291. The consolidation within 12370 and 1.2291 could result in a breakout from the range. This will potentially set the near term direction in the currency. We expect the downside bias to build up.<\/p>\n

\"GBPUSD\"<\/a><\/p>\n

Gold Prices Slip Amid Mixed Stronger Equities<\/strong><\/h2>\n

The precious metal was seen extending declines on Monday. This came as risk sentiment, although mixed supported equities.<\/p>\n

The stronger dollar was also partly responsible for the decline in gold prices. Investors await the economic reports starting today which will provide insights into how the US economy fared in September.<\/p>\n

XAUUSD Could Retreat to 1485<\/strong><\/h3>\n

The precious metal broke from its sideways range within 1508 and 1485 levels. The downside breakout could see a near term retracement. A retest of the 1485 handle in gold could confirm the downside. The lower support at 1431 \u2013 1428 will be likely tested in the short term.\"xauusd\"<\/a><\/p>\n

By <\/strong>Orbex<\/strong><\/a><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

By Orbex The US dollar rose to a four-week high on Monday. The gains came amid the end of the month and quarterly flows. The USD also found favor as a safe haven asset as investors await more details from Washington. The US administration proposed restricting investments to China. A move that could potentially spark […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-156560","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/156560","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=156560"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/156560\/revisions"}],"predecessor-version":[{"id":156583,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/156560\/revisions\/156583"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=156560"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=156560"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=156560"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}