FX Daily Outlook| 04-02-16
Posted on February 4, 2016 at 9:51 am GMT[..]
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European Session – Dollar under pressure on Fed’s Dudley and weak ISM non-manufacturing PMI
Posted on February 3, 2016 at 3:46 pm GMTSterling was one of the best performing major currencies against the dollar today, rallying to a three-week high on upbeat UK data. The UK services PMI index surprised to the upside in January to come in at 55.6 versus 55.5 in December. Most forecasts were for a dip to a reading of 55.4. The upbeat data helped lift the pound above the key psychological mark of $1.45. It was last at $1.4594. The main risk ahead for the British currency [..]
FX Daily Outlook| 03-02-16
Posted on February 3, 2016 at 9:32 am GMT[..]
Asian Session – Yen firmer on equities slide; Kiwi gains on strong jobs data
Posted on February 3, 2016 at 9:08 am GMTRisk sentiment dwindled on Wednesday as global equities continued with their descent and oil prices fell sharply for a second day. Tokyo stocks closed down by 3.2% following a near 2% drop on Wall Street on Tuesday. But Chinese shares cut earlier heavy losses to end the day just 0.4% lower after being boosted by better-than-expected services PMI for January. The US dollar drifted lower against the yen as risk aversion increased the yen’s attractiveness. The dollar hit a low [..]
European Session – Sterling buoyed by UK-EU proposal to prevent Brexit
Posted on February 2, 2016 at 3:15 pm GMTThe markets saw another rise in risk aversion today, helping the euro regain the $1.09 handle against the dollar. Data out of the Eurozone consisted of unemployment data which showed the jobless rate fell to a five-year low at 10.4% in December 2015, down from 10.5% in November 2015. Compared to a year ago, the rate was also down from the 11.4% rate in December 2014. While this is good news, the data may not be enough to sway the [..]
Oil rebound leads to recovery for risk, commodity currencies
Posted on January 29, 2016 at 12:32 pm GMTOne of the most interesting features of the previous week in foreign exchange was how the rebound in the price of oil provided fuel for a comeback by the beaten-down commodity and emerging market currencies. The Russian Rouble led the rebound, followed by the South African Rand, the Canadian Dollar, the Australian Dollar and the Norwegian Krona. The recovery in oil prices also helped risk assets recover as stocks managed to reduce their losses year-to-date. The oil price recovery was [..]
European Session – Euro rallies above $1.09, oil rises to $34
Posted on January 28, 2016 at 3:36 pm GMTThe US dollar was broadly weaker today, while sterling and the Australian dollar were one of the strongest performers. The pound advanced after reacting positively to as-expected UK fourth quarter GDP data. The preliminary estimates showed the British economy expanded by 0.5% between October to December of 2015 compared to the previous quarter. While being in line with estimates, it was an improvement on the third quarter’s 0.4% rate. Sterling gained 0.7% versus the dollar after hitting a session high [..]
FX Daily Outlook| 28-01-16
Posted on January 28, 2016 at 12:14 pm GMT[..]
Asian Session – Dollar rebounds after Fed but Kiwi slumps on dovish RBNZ
Posted on January 28, 2016 at 10:06 am GMTAsian stocks started the day positive after the Fed’s slightly dovish statement but gave up earlier gains to turn negative in late Asian trading. China’s Shanghai Composite index closed lower for a third straight day, ending the day down 2.9%. The US dollar rebounded from yesterday’s lows when it dropped immediately after the FOMC statement. The Fed kept rates unchanged but said it is “closely monitoring” the developments in global financial markets and acknowledged that US growth had slowed towards [..]
Technical Analysis – Oil finds support at $30, bearish outlook remains
Posted on January 28, 2016 at 9:56 am GMTOil seems to have found a bottom around the key $30 level for now. But there is no sign of a shift in the current bearish trend. Since October 2015 prices have been falling in a descending channel from the key $50 level down to $27 – the lowest level in 13 years. In the bigger picture the market has a bearish outlook. Since mid-2014 prices have been making lower highs and lower lows. There was a sharp decline from [..]
