FX Daily Outlook | 21-07-17
Posted on July 21, 2017 at 9:12 am GMT[..]
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Aussie tumbles on Deputy Governor’s dovish speech; US dollar weak on political woes
Posted on July 21, 2017 at 7:15 am GMTThe Australian dollar tumbled amid a dovish speech by Reserve Bank of Australia Deputy Governor Guy Debelle. The US dollar remained under pressure against most majors following the plunge yesterday when news broke out about expansion of an investigation into Trump’s links with Russia. The aussie fell to $0.7907 during Asian trading as the RBA Deputy Governor said that no importance should be given to the board’s discussion around the neutral rate and that it doesn’t imply monetary policy tightening. [..]
FX Daily Outlook | 20-07-17
Posted on July 20, 2017 at 8:50 am GMT[..]
Technical Analysis – USDCAD near 14½-month low; records bearish cross
Posted on July 20, 2017 at 7:11 am GMTUSDCAD has retreated considerably since reaching 1.3793 – the seventeen-month high from May 5th. Yesterday the pair recorded a fourteen-and-a-half-month low of 1.2578. Turning to the Ichimoku analysis, the negative alignment when the Tenkan-sen line (red) crossed below the Kijun-sen (blue) in late May remains in effect, suggesting a bearish market bias. Regarding the RSI, it is in oversold territory at 24 and currently maintains a moderately positive slope (i.e. it is heading higher). This might hint that momentum in [..]
Forex Market Review (European Session) – Oil surges on inventories draw; dollar drops against yen despite upbeat construction figures
Posted on July 19, 2017 at 2:55 pm GMTToday’s European session was a relatively quiet day as no major data releases were reported. US figures pointing to healthy construction activity and crude oil inventories were the main figures of the day. The dollar continued sliding against the yen while sterling and the euro were under some pressure against the greenback. US homebuilding rebounded more than expected in June after declining for three consecutive months. However, this pick-up did little for the second quarter expansion that remained subdued when [..]
Forex Market Review (European Session) – Loonie hits fresh 14-month high; dollar steady after Friday sell-off
Posted on July 17, 2017 at 2:52 pm GMTThere was limited price action today as investors remained sidelined ahead of three big events this week. Major currencies mostly traded in tight ranges during the European session, while in the absence of major economic releases, the market focus has been on the start of the second round of the Brexit negotiations, the European Central Bank and the Bank of Japan meetings on Thursday. The greenback managed to slightly recoup against most majors following the sell-off on Friday amid the disappointing [..]
Week Ahead – ECB and BOJ meet as policies set to diverge; China eyes slower growth
Posted on July 14, 2017 at 4:03 pm GMTThe European Central Bank and the Bank of Japan policy meetings next week will likely steal investors’ attention as one prepares the ground for tighter policy while the other looks in no hurry to alter course. It will also be an important week for data as China releases first quarter GDP growth figures and inflation numbers come into focus in Canada, New Zealand and the UK. Aussie jobs and New Zealand inflation data to be watched The Australian and New [..]
Investment Theme – BoC acts as the Fed’s dancing mate – will others join the party?
Posted on July 14, 2017 at 2:58 pm GMTAt the start of the year, the Federal Reserve was the only major central bank engaging in as well as communicating that it remains on a path of policy normalization. At that point in time, the Fed had already hiked rates twice since last reducing them back in 2008, while it has delivered two additional rate increases so far during the year. The Bank of Canada’s decision to raise rates for the first time in roughly seven years could be [..]
Forex Market Review (European Session) – Dollar tumbles on disappointing inflation; Kuwait’s OPEC governor boosts oil
Posted on July 14, 2017 at 2:51 pm GMTThe dollar tumbled against all majors after a set of disappointing US data releases. The dollar index fell to a fresh 10-month low of 95.25 immediately following the release. The weaker dollar boosted other majors as well as gold. Both US CPI and retail sales numbers for June came in short of expectations, pushing the dollar to 112.38 yen from 113.04. Headline CPI was weaker than estimated at 0.1% month-on-month in June, mirroring the prior increase of 0.1%. It was [..]
FX Daily Outlook | 14-07-17
Posted on July 14, 2017 at 9:18 am GMT[..]
