FX Daily Outlook | 06-06-17
Posted on June 6, 2017 at 8:30 am GMT[..]
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Technical Analysis – Gold resumes bullish momentum
Posted on June 6, 2017 at 8:01 am GMTGold maintains its bullish outlook as it resumes its upside momentum following a pause in the rally for a few weeks in May after rebounding from a low of 1214.17. There is scope to target the key level at 1300. Prices would have to pass the April 17 high of 1295.38 in order to confirm that a lower low is in place at 1214.17 (May 9 low) and to strengthen the bullish bias. A successful break above 1300 would open the [..]
Forex Market Review (Asian Session) – Dollar extends decline; aussie rallies after RBA; oil under pressure
Posted on June 6, 2017 at 7:16 am GMTThe dollar was broadly weaker and the yen gained on safe haven demand. The aussie rallied after the RBA meeting. Oil remained under pressure. The Reserve Bank of Australia announced its decision to hold its benchmark interest rate steady at 1.5% and said that its unchanged policy was consistent with sustainable growth and hitting its inflation target. The markets took comfort from the RBA statement and this helped the aussie erase earlier losses to reach a session high of $0.7495. [..]
Forex Market Review (European Session) – Sterling boosted by election poll; gold hits 6-week high
Posted on June 5, 2017 at 3:10 pm GMTThe dollar was mixed against its major counterparts. The euro slipped and the pound rallied despite soft UK data. Oil prices erased earlier gains while gold hit a six-week high. The pound rose to its highest level against the dollar in over a week after an election poll showed the Torie’s lead was back in double digits. The ICM poll showed an eleven-point lead for Prime Minister Theresa May’s Conservative Party over the opposition Labour Party just days before the [..]
FX Daily Outlook | 05-06-17
Posted on June 5, 2017 at 7:29 am GMT[..]
Forex Market Review (Asian Session) – Sterling slips after London attacks; oil surges on tensions in the Gulf
Posted on June 5, 2017 at 5:43 am GMTThe dollar hovered near seven-month lows against the yen following Friday’s disappointing US jobs report, while sterling weakened after the news of the attacks in London over the weekend. Gold hit its highest in over six week and oil was lifted due to tensions in the Middle East. The greenback held onto losses made on Friday after the release of the non-farm payrolls report which showed fewer jobs were added to the US economy in May, while the previous two [..]
Forex Market Review (European Session) – Dollar tumbles to 7-month low versus euro after big NFP miss; gold surges
Posted on June 2, 2017 at 3:03 pm GMTMost major pairs were mostly range-bound until the big moves after the all-important US non-farm payrolls report. Despite a drop in the unemployment rate to a 16-year low of 4.3%, this was not enough to make up for the huge miss in the non-farm payroll number, causing a big tumble in the dollar. During the month of May, a mere 138,000 new jobs were added to the US economy, versus an expected 185,000. Adding to the disappointing headline number, the [..]
Forex Market Review (Asian Session) – Dollar firmer after ADP jobs; all eyes on NFP; oil drops after US decision to withdraw from Paris Climate Accord
Posted on June 2, 2017 at 7:19 am GMTThe dollar consolidated gains made after a solid ADP jobs report on Thursday which gave investors optimism that today’s non-farm payrolls number could also be upbeat. This would strengthen expectations for a rate hike by the Federal Reserve at its meeting this month. The ADP private employment report was better than expected and increased by 253,000 jobs in May versus forecasts for a gain of 185,000 jobs. A separate report showed US factory activity picked up last month after slowing [..]
Forex Market Review (European Session) – Dollar jumps higher on strong ADP employment data; pound recoups losses but aussie slumps
Posted on June 1, 2017 at 2:52 pm GMTThe US dollar turned sharply higher in today’s European session after the ADP employment report showed a bigger-than-expected increase in private sector payrolls. The pound managed to recoup its earlier losses but the Australian dollar extended its slide to three-week lows. The greenback had its best day in a fortnight against the yen today as it got a boost from strong jobs data. Private sector employment rose by 253k in May according to the ADP employment report. Analysts were expecting [..]
FX Daily Outlook | 01-06-17
Posted on June 1, 2017 at 8:57 am GMT[..]
