News / Page 15

Forex News – Australian jobs report mixed; Aussie eases after initial jump

Posted on February 16, 2017 at 1:20 pm GMT

Australia’s unemployment rate unexpectedly declined in January, significantly boosting the Australian dollar against other major currencies. However, a more careful look into the details underpinning the data painted a more of a mixed picture and led to the aussie dollar easing off from earlier gains. Delving into the numbers, January’s unemployment rate fell to 5.7% from 5.8% the previous month. Expectations were for the rate to stay put at 5.8%. The economy added 13,500 jobs in January, far higher than [..]

Mid-European Session – Euro and pound edge higher as dollar runs out of steam

Posted on February 16, 2017 at 12:55 pm GMT

Rising expectations of a near-term rate hike by the Fed were unable to reverse the US dollar’s slide in European trading on Thursday. The US currency extended its Asian session losses to hit a low of 113.53 yen in mid-European trading. The declines were mainly triggered by profit taking following a two-week rally for the greenback since the start of the month. The dollar had hit a 2½-week high versus the yen yesterday, while the dollar index rose to 5-week [..]

Asian Session – USD loses strength; Aussie hits near 2-year high against euro after Australian jobs data

Posted on February 16, 2017 at 8:52 am GMT

The US dollar lost some strength against the yen today after making some strong gains on the back of hawkish comments from Fed Chair Janet Yellen on Tuesday and Wednesday. The main focus in the Asian session was the aussie, which saw some volatility after Australian jobs data. The aussie initially spiked up after the data showed that the unemployment rate in Australia unexpectedly fell in January to 5.7 percent from a prior 5.8 percent. This led euro/aussie to revisit [..]

Technical Analysis – GBPJPY neutral in the near- and medium-term

Posted on February 16, 2017 at 8:32 am GMT

GBPJPY is currently down since the day’s open, though not by much. Should it finish the day lower, it will mark the third day of losses for the pair, though losses in the previous two days were only minor ones. The RSI indicator is currently at 52, close to the 50 neutral level. It’s been in this area throughout the last number of days of relative stability in prices. On the upside, the 50-day moving average (MA), currently at 142.77, [..]

Technical Analysis – EURJPY neutral bias in short-term

Posted on February 16, 2017 at 8:00 am GMT

EURJPY maintains a neutral bias in the near term. The horizontal 50-day and 200-day moving averages are indicating that there is no trend in the market now. The RSI is flat, also suggesting no direction in the market. Since February 10, EURJPY has been trapped between 120.21 and 121.37, after falling to a low of 119.30 on February 8. Prices bounced back up from here but have since found strong resistance at 121.37. This level is defined by the 23.6% [..]

European Session – Dollar extends gains on strong inflation and retail sales data

Posted on February 15, 2017 at 4:06 pm GMT

Today was a busy day in terms of economic data with major releases from the US and UK grabbing investors’ attention for the most part. On top of that, Federal Reserve chair, Janet Yellen, continued with her second day of testifying before US Congress as scheduled. The annual US headline inflation reading came in at 2.5% for January, the fastest pace in five years. It was up from a previous 2.1% and beat forecasts for a 2.4% increase. Higher gasoline prices [..]

Forex News – Higher US inflation and retail sales boost chance of March Fed rate hike

Posted on February 15, 2017 at 3:32 pm GMT

The dollar extended gains after US inflation and retail sales data, which bolstered the case for higher interest rates, perhaps as soon as next month. The annual headline inflation reading came in at 2.5 percent for January, the fastest pace in five years. It was up from a previous 2.1 percent and beat forecasts for a 2.4 percent increase. The month-on-month CPI figure also saw a big jump to 0.6 percent in January from December’s 0.3 percent rise. Higher gasoline [..]

Technical Analysis – GBPUSD neutral medium-term, pivoting key 1.25 level

Posted on February 15, 2017 at 3:28 pm GMT

GBPUSD has been in a consolidation phase since the beginning of the year and has been pivoting around the key 1.2500 level. The medium-term neutral bias is also highlighted by the fact that the 200-day moving average has leveled off, indicating a lack of direction in the market. The 200-day moving average is acting as an important support level at 1.2390. A daily close below this would bring another key support level into view at 1.2346. This is where there is [..]

Forex News – Dollar lifted by hawkish Yellen but odds of March hike remain low

Posted on February 15, 2017 at 3:07 pm GMT

Expectations of a near-term Fed rate hike were bolstered on Tuesday after Janet Yellen, the Chair of the Federal Reserve, gave an upbeat assessment of the US economy in her semi-annual testimony to Congress. Speaking before the Senate Banking Committee, Yellen said “waiting too long to remove accommodation would be unwise”, adding that any delay in raising rates could disrupt financial markets and drive the economy into recession if rates were to rise too rapidly at a later stage. While [..]

Asian Session – Dollar holds firm after hawkish Yellen

Posted on February 15, 2017 at 8:35 am GMT

The US dollar held onto gains after a strong rally on Tuesday following comments made by Fed Chair Janet Yellen. In her semi-annual testimony before the Senate Banking Committee in Washington DC, Yellen signaled to the markets that the US central bank could raise interest rates as soon as at its next policy meeting in March. The tone of her pre-prepared speech was more on the hawkish side and this helped drive the greenback higher. The dollar index ,which measures the [..]

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