FX Daily Outlook | 25-04-17
Posted on April 25, 2017 at 9:00 am GMT[..]
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Forex Market Review (Asian Session) – Euro steady while yen and gold ease; Canadian dollar weakens
Posted on April 25, 2017 at 7:51 am GMTThe euro remained steady, near five-month highs against the dollar, while the yen and gold retreated as the outcome of the French elections dampened demand for safe havens. Markets shrugged off North Korean artillery drills carried out today to mark the 85th anniversary of the Korean People’s Army. Currency markets were relatively quiet during Asian trading due to a lack of key economic data releases as well as a public holiday in Australia and New Zealand, which left investors to [..]
Forex Market Review (European Session) – French election outcome dominates markets; risk-on appetite resumes
Posted on April 24, 2017 at 3:01 pm GMTThere were some economic releases hitting the markets during today’s European session trading, including the German Ifo survey measuring business morale in Europe’s largest economy. But the outcome of the first round of French presidential elections was undoubtedly the factor underlying most major movements in financial markets today. The pro-EU Emmanuel Macron coming in first, ahead of anti-EU rival Marine Le Pen, in the first round of French presidential elections helped boost the euro in today’s trading. Specifically, the single [..]
FX Daily Outlook | 24-04-17
Posted on April 24, 2017 at 8:17 am GMT[..]
Technical Analysis – Gold bullish momentum fades; price further away from last week’s 5-½-month high
Posted on April 24, 2017 at 7:21 am GMTGold is down from the day’s open with the price further distancing itself from the five-and-a-half-month high hit last week. The short-term indicators are projecting a weakening positive momentum. In particular, the RSI indicator is bullish at 56 but has recorded a steep fall to reach the level it’s currently at. Looking at MACD, the histogram is on the one hand positive, but it has fallen below the red signal line. The area around the 1280 handle has been a [..]
Forex Market Review (Asian Session) – Euro spikes and gold slips as markets see relief rally after first round of French elections
Posted on April 24, 2017 at 6:48 am GMTThe euro spiked to a five-month high against the dollar on the news that Emmanuel Macron passed through to the second round of the French elections with the most votes. The centrist candidate is viewed as market-friendly as he is pro-business and pledges to boost the French economy with a multi-billion-euro stimulus plan if he becomes president. The latest vote count showed Macron winning 23.9% of the votes against 21.4% for far-right candidate Marine Le Pen, according to figures from the [..]
Forex Market Review (European Session) – Euro slips ahead of French vote; sterling hit by disappointing UK retail sales data
Posted on April 21, 2017 at 2:51 pm GMTSterling tumbled after UK retail sales data significantly missed expectations on all counts. The euro slipped despite stronger PMIs as French elections loom. The safe haven yen was supported against a backdrop of event and geopolitical risk. Cable dipped below the key $1.2800 level in response to a disappointing UK retail sales report. Month-on-month retail sales fell 1.8% in March after a 1.7% increase in February. The headline figure came in at 1.7% year-on-year versus the 3.4% forecast. The quarterly [..]
FX Daily Outlook | 21-04-17
Posted on April 21, 2017 at 8:37 am GMT[..]
Forex Market Review (Asian Session) – Euro holds above $1.07; dollar supported by Mnuchin comments on tax reform
Posted on April 21, 2017 at 7:42 am GMTRisk aversion dominated the markets, following news of the terrorist attack in Paris and risk ahead of the French elections, giving safe havens a boost. Investors were already in countdown mode to Sunday’s first round vote in France, which kept the euro subdued. A recent poll showed Macron at 24%, Le Pen at 21.5%, Fillon at 20% and Melenchon at 19.5%, making it a very tight race. Limited action is expected for the euro ahead of the vote although flash PMI [..]
Forex Market Review (European Session) – Euro and sterling hold gains against dollar while yen underperforms
Posted on April 20, 2017 at 2:48 pm GMTThe euro was relatively firm on the day while the yen was one of the worst performing major currencies. The dollar was mixed but softer against the majors like the euro and sterling, which helped commodity prices higher. The dollar index, which gauges the US currency against six major counterparts, fell to a three-week low of 99.37. Data out of the Eurozone included German PPI which was flat in March, versus expectations of a 0.2% month-on-month gain. It rose 3.1% [..]
