News / Page 181

Technical Analysis – GBPUSD gains upside momentum, clears 200-MA

Posted on September 8, 2015 at 6:50 am GMT

GBPUSD is continuing the recovery rally on Tuesday after bouncing off Friday’s low of 1.5162. Prices have cleared the 200-day moving average so this resistance level has been broken and there is scope for further upside. The daily RSI is pointing upwards and if it rises above 50 into bullish territory then we would be more confident that upside momentum will hold. The next barrier would be the 50-day moving average and the Ichimoku cloud around 1.5530. Looking at the [..]

Technical Analysis – NZDUSD approaches new 6-year lows; outlook bearish

Posted on September 7, 2015 at 2:23 pm GMT

NZDUSD extended Friday’s losses today as it headed nearer to the August 24 low when the pair plunged to a 6-year low of 0.6140. The August 24 trough remains the nearest support level, which, if broken, would deepen the downtrend and take prices to fresh lows last seen in May 2009. Near term momentum is weak with RSI dipping down below 50 and the stochastics heading back towards oversold territory. The medium-term outlook is not looking much better either as [..]

European Session – Risk appetite, US holiday lead to quiet markets; sterling rises

Posted on September 7, 2015 at 2:08 pm GMT

Currency markets were relatively quiet today due to the US Labor Day holiday. Meanwhile there were no key data releases during the European session. Overall risk sentiment was up today as Chinese stock markets posted only modest losses after beign closed for four days. The US dollar only rose against the yen and the Swiss franc but elsewhere it was broadly lower. The euro moved off Friday’s post-nonfarm payrolls low of 1.1090 and rose to trade within a range 1.1120 [..]

Mixed US jobs report fails to deliver decisive rate hike case for Fed

Posted on September 7, 2015 at 11:59 am GMT

US nonfarm payrolls rose by 173,000 in August – the slowest pace in five months and below consensus estimates of a gain of 220,000. However, upward revision to previous months’ numbers revealed that jobs growth has been stronger than initially estimated, leading to a drop in the unemployment rate to 5.1% from 5.3% in July. This takes the unemployment rate to the lowest level since April 2008. But the drop in the unemployment rate looks less impressive when considering the [..]

Asian Session – Dollar bounces back after mixed NFP report; Oil and China stocks extend losses

Posted on September 7, 2015 at 7:27 am GMT

The dollar dipped in early Asian trading on Monday but recovered in late session as it struggles for direction after Friday’s mixed nonfarm payrolls data. Nonfarm payrolls rose by 173k in August, less than the 220k forecast, but the unemployment rate fell to 5.1%. The slower pace of jobs growth puts into question whether the Fed would raise interest rates in September in the midst of global market volatility. But a pick-up in average hourly earnings to 2.2% means a [..]

Technical Analysis – GBPAUD above cloud and 200-day MA

Posted on September 7, 2015 at 7:18 am GMT

GBPAUD bias has returned to the upside after the pair closed back above the tenkan – sen line on Friday. Momentum remains positive as the RSI is above 50. There is scope to retest the August 24 high (a 6-year high) at 2.2386. Immediate support is expected at the tenkan-sen line at 2.1760. Below this level, the daily Ichimoku cloud remains supportive. The 200-day moving average and the Ichimoku cloud are rising – both are bullish technical indicators. As long [..]

European Session – Dollar remains below 120 yen after mixed NFP report

Posted on September 4, 2015 at 2:21 pm GMT

The US nonfarm payrolls report was the main event today, with most major dollar pairs consolidating in the build-up to the release. Ahead of the NFP data, the greenback was only declining against the yen. There was a lot of volatility after the jobs data which missed expectations by far and showed an increase of 173,000 jobs in August versus a 220,000 estimate and was below July’s upwardly revised 245,000 jobs. But overall the report was mixed and also had [..]

Week Ahead – RBNZ expected to cut rates; China exports to come in focus again

Posted on September 4, 2015 at 12:01 pm GMT

The coming week will shed some light on how industrial production fared in August in Europe’s five largest economies, and the RBNZ, Bank of Canada and Bank of England meet for their September policy meeting. After the RBA and ECB left policy unchanged this week, the Reserve Bank of New Zealand may be the one to act next week as the Bank of England and Bank of Canada are not expected to announce any changes. The Reserve Bank of New [..]

Asian Session – Aussie hits fresh 6-year low while yen gains on risk aversion ahead of NFP

Posted on September 4, 2015 at 7:28 am GMT

Friday’s Asian session was mainly characterized by steep falls in the region’s stock exchanges as Japan’s Nikkei fell more than 2% and other stock markets were down as well. The sense of risk aversion boosted safe haven currencies such as the Japanese yen, as dollar / yen traded comfortably below the 120 key level, while driving down currencies such as the Australian dollar. It was suggested that some market participants were closing positions in anticipation of the August US employment [..]

Technical Analysis – USDCAD consolidates at 11-year high, holds bullish bias

Posted on September 4, 2015 at 7:11 am GMT

USDCAD is consolidating around an 11-year high of 1.3352 that was reached on August 25. The technical indicators remain bullish, with the market above the Ichimoku cloud and the tenkan-sen and kijun-sen positively aligned. The market is also above the 200-day moving average. The 21-day moving average and the kijun-sen line are both expected to provide support around 1.3148. Momentum remains in bullish territory, as the RSI is above 50. Only if it falls below 50 will the bullish bias [..]

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