News / Page 135

Asian Session – Oil rebound helps market sentiment; dollar firm but off highs

Posted on January 25, 2016 at 8:54 am GMT

Asian stocks moved higher on Monday following a 10% rally in crude oil prices on Friday. The prospect of increased demand in oil as a result of the cold snap in large parts of the northern hemisphere pushed oil prices away from the 12-year lows seen in the middle of last week. US crude futures climbed above $32 a barrel late on Friday before slipping just below it in late Asian session. The US dollar was off highs today, easing [..]

Technical Analysis – EURAUD in ascending channel

Posted on January 25, 2016 at 8:28 am GMT

EURAUD was rising in an ascending channel for the past two months since bouncing from a low of 1.4346. The pair peaked at 1.6074 before falling back down to the lower end of the channel and below the key 1.55 level. Prices are now testing this key level and bounced back above it early on Monday. The 1.5600 and the 1.5700 are the next resistances that the pair might witness during its bounce. To the downside, the 50% Fibonacci level [..]

European Session – Sterling rallies, oil up 5%, lifting loonie, dollar above 118 yen

Posted on January 22, 2016 at 3:33 pm GMT

There was improved risk sentiment in the markets today, spurred by comments from European Central Bank President Mario Draghi on Thursday to support the Eurozone economy. The ECB chief signaled that more stimulus measures could be deployed, due to low inflation in the Eurozone. Draghi stressed again the ECB’s ability to act during a speech today at the World Economic Forum in Davos. The expectations of more easing (which some expect to come as soon as March), helped lift European [..]

Technical Analysis – NZDUSD mini rally takes a pause; downside bias remains

Posted on January 22, 2016 at 2:35 pm GMT

NZDUSD rallied by almost 2% in the previous two trading days but slipped back today to around the 0.65 level. Near term indicators are mixed with the stochastics still rising but RSI peaked before reaching 50 and has dipped back down again. The pair could still have some upside momentum for the coming days but may struggle to make significant gains. The outlook in the medium term remains bearish with prices below the Ichimoku cloud and the moving averages. The [..]

Week Ahead – Central banks in focus again as Fed, BoJ and RBNZ meet; GDP data to be watched

Posted on January 22, 2016 at 12:33 pm GMT

The continued fall in oil prices has raised expectations of policy easing by the Reserve Bank of New Zealand and the Bank of Japan as they meet next week. But they may decide to stand pat for now like the Fed is expected to when it also holds its policy meeting. On the data front, GDP releases for the US and UK for the fourth quarter of 2015 will be watched closely. Starting the week with Japan, which will see [..]

Asian Session – Oil posts sharp rebound as ECB and BoJ stimulus expectations rise

Posted on January 22, 2016 at 8:50 am GMT

Talk of more stimulus boosted markets on Thursday and Friday as the ECB hinted that it may ease policy as early as March and there were reports that the Bank of Japan is taking a serious look at expanding monetary policy at its meeting next week. A sharp rebound in oil prices also helped market sentiment. Shares across Asia rallied today as a result with Tokyo’s Nikkei 225 index surging 5.9% at the close. Chinese shares were less buoyant with [..]

Technical Analysis – USDJPY breaks above key 118 barrier

Posted on January 22, 2016 at 8:30 am GMT

USDJPY managed to surpass the key upside barrier of 118 yen, hence driving the pair up to fresh one-week high. Upside momentum picked-up pace over the last hours and USDJPY is now attempting to retake the 118 handle. The next immediate hurdle on the upside is 118.37, the January 13 high. A break above this would open the way towards the key 120.00 level. To the downside, this week’s low of 115.96 is important support. Technical indicators on the daily [..]

Euro drops 1% after Draghi suggests possibility of further ECB easing in March

Posted on January 21, 2016 at 3:39 pm GMT

The European Central Bank made no surprises when it decided to keep monetary policy unchanged today at its first meeting of the year. January’s decision comes just six weeks after the ECB cut its deposit rate to -0.3% and extended the duration of its asset purchase program by 6 months. However, at the press conference that followed today’s announcement, Mario Draghi, President of the ECB, was keen to stress that the downside risks to the Eurozone economy and price stability [..]

European Session – Euro sub-1.09 as Draghi hints at more ECB stimulus

Posted on January 21, 2016 at 2:45 pm GMT

The euro was the main focus of the currency markets today due to the European Central Bank policy meeting. As expected the ECB kept interest rates on hold but the highlight of the day was ECB President Mario Draghi’s press conference. The benchmark refinancing rate was left at 0.05% while the marginal lending facility was unchanged at 0.3%. The overnight deposit rate remains at minus 0.3%. The euro moved up marginally on the announcement but then fell drastically as ECB [..]

Technical Analysis – GBPJPY drops below 165 on increased bearishness

Posted on January 21, 2016 at 12:09 pm GMT

GBPJPY has turned sharply bearish since the start of the year on increased economic and political concerns for the pound and safe haven appeal for the yen. The pair has been trading below the 50- and 200-hour moving averages since December. Prices are currently stuck below the Ichimoku cloud as the upside momentum from earlier in the day proved too weak to push the pair above the 50-hour moving average and RSI has dipped back below 50. Any renewed attempt [..]

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