FX Daily Outlook | 14-02-17
Posted on February 14, 2017 at 10:01 am GMT[..]
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Technical Analysis – USDCAD extends losses to approach critical 1.30 level
Posted on February 14, 2017 at 6:08 am GMTUSDCAD has been testing the 200-day moving average in the past three weeks. The immediate risk is to the downside, as RSI is trending down. The 50-day moving average is sloping down as well, suggesting the bias has shifted to the downside. The market is now approaching a critical area where important support levels are likely to be provided by the key 1.3000 level and the level at 1.3028, which is defined by the 50% Fibonacci retracement level of the [..]
European Session – Euro and pound firmer as dollar slips back below 112 yen
Posted on February 8, 2017 at 4:08 pm GMTMarkets remained mired in risk-off mood in Wednesday’s European session as global uncertainty regarding Trump’s presidency, European elections, Brexit and the Greek debt crisis all weighed on risk sentiment. The US dollar found itself back below 112 yen as the Japanese currency benefited from safe-haven demand and the yields on US Treasury Notes fell. The greenback was struggling around 111.90 yen in late European session in the absence of any major data release out of the US today. The euro [..]
European Session – Euro under pressure on French election concerns; Dollar stays mixed after NFP
Posted on February 6, 2017 at 4:03 pm GMTThe euro came under pressure on Monday as French election jitters led to a sell-off in French government bonds while the dollar was struggling for direction following Friday’s non-farm payrolls report. Uncertainty about the French election unsettled investors in European trading today as pressure grew on France’s conservative presidential candidate, Francois Fillon, to quit the race. It follows allegations that his wife was paid by the state for work she never did and comes amid ongoing strong support for the [..]
Week Ahead – RBA and RBNZ meetings eyed in quiet data week
Posted on February 3, 2017 at 4:35 pm GMTCentral bank meetings in Australia and New Zealand will come into focus next week in an otherwise muted seven days for economic data. Industrial output and trade data from Germany and the UK will also be eyed, while Canadian employment figures will be watched too. Clouded outlook for RBA rates The Reserve Bank of Australia will meet on Tuesday for its first policy meeting of 2017. It is expected to keep rates unchanged at the current record low of 1.50% [..]
European Session – Dollar bounces back on higher treasury yields, pushing euro and pound lower
Posted on January 26, 2017 at 4:29 pm GMTThe positive sentiment from the Dow Jones’ record break above the 20,000 level carried forward to Thursday’s European session, though risk appetite ebbed slightly in afternoon trading. European equities were mixed in late session, while 10-year US treasury yields rallied to a 4-week high. The higher yields spurred the US dollar to finally break out of the past day’s tight trading range, helping it climb above 114 yen. Investor concerns about Donald Trump’s policies on trade and immigration have been [..]
European session – Sterling up after May agrees Brexit white paper; Dollar hits 7-week low
Posted on January 25, 2017 at 3:55 pm GMTUK Prime Minister Theresa May said on Wednesday that she plans on producing a policy document (a so called ‘white paper’) for parliament outlining her proposals on how the Brexit process should take place. The news helped push sterling higher as it hit a near 6-week high against the dollar and a near 3-week high against the euro. In afternoon European session GBP / USD was last at 1.2563 (up 0.34%) and EUR / GBP at 0.8535 (down four-tenths of a [..]
European Session – Pound fluctuates on Supreme Court ruling; Loonie jumps on pipeline deal
Posted on January 24, 2017 at 4:42 pm GMTThe pound see-sawed in today’s European session as the British currency saw volatility both before and after the Supreme Court’s ruling on the triggering of Article 50. The US dollar recovered from earlier lows, while the Canadian dollar surged after Donald Trump approved the construction of a major pipeline from Canada to the United States. The greenback struggled for upwards momentum on Tuesday as it attempted to move away from multi-week lows. The dollar index pared most of its losses [..]
European Session – Markets steady ahead of Trump’s inauguration; Oil rallies ahead of compliance meeting
Posted on January 20, 2017 at 4:16 pm GMTCurrency markets were relatively calm in Friday’s European session as global attention turns to President-elect Donald Trump’s inauguration ceremony in Washington. Investors will be eagerly watching for further clues on Trump’s economic policies in his inauguration address as much uncertainty remains over whether the new administration will implement many of the pledges made during the election campaign. The greenback fluctuated around 115 yen for much of the session, having recovered from its Asian session low of 114.53 to peak at [..]
European Session – Euro tests $1.06 as Draghi plays down threat from rising inflation
Posted on January 19, 2017 at 4:03 pm GMTThe euro came under pressure on Thursday as ECB President Mario Draghi played down any immediate risks from the recent pick-up in inflation across the Eurozone. The US dollar meanwhile continued to advance higher following yesterday’s hawkish remarks by Fed Chair Janet Yellen, and the pound was also back in demand. As widely expected, the European Central Bank held its three key interest rates unchanged today at its first policy meeting of the year. In addition, the Bank kept the [..]
