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Asian Session – Aussie briefly rises after RBA holds rates; kiwi jumps on inflation expectations

Posted on February 7, 2017 at 8:18 am GMT

The antipodean currencies were in focus in today’s Asian session due to news headlines out of the region. The Reserve Bank of Australia announced its policy decision to hold rates while inflation expectations in New Zealand were up. The aussie rose against the greenback after experiencing some volatility soon after the RBA policy decision and oscillated in a range of half of 1 percentage point during the session. It eventually reached a session high of $0.7680 before reversing back down [..]

European Session – Euro under pressure on French election concerns; Dollar stays mixed after NFP

Posted on February 6, 2017 at 4:02 pm GMT

The 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 [..]

Technical Analysis – AUDJPY still ranging; Positive medium-term outlook

Posted on February 6, 2017 at 1:40 pm GMT

AUDJPY has been posting losses since the day’s open. The RSI indicator is currently at 51, in close proximity to the 50 threshold that separates bullish from bearish bias. This is an indication that the recent sideways movement is likely to continue. The area around 87 has managed to hold a successful close above it numerous times in the recent past and is likely to provide some resistance to upside moves. Should the price break above it, the December 12 [..]

Technical Analysis – EURUSD short-term bullish; Price inside the cloud

Posted on February 6, 2017 at 8:15 am GMT

EURUSD has been falling in today’s trading so far, roughly paring the gain of the previous trading day (Friday). Looking at the Ichimoku analysis, the positive alignment recorded in mid-January when the Tenkan-sen line (red) crossed above the Kijun-sen line (blue) is still in place. This is a short-term bullish signal that is reinforced by the RSI indicator, which is in bullish territory at 57. Continuing with Ichimoku, the price is currently within the cloud. Should it emerge on top, [..]

Asian Session – Aussie hurt by weak retail sales numbers; USD steadies after post-jobs data

Posted on February 6, 2017 at 8:13 am GMT

The US dollar dipped below Friday’s post-nonfarm payrolls low against the yen in Monday’s Asian session before steadying. Elsewhere, the greenback made gains, especially against the aussie which fell after weak Australian retail sales data. Australia reported an unexpected drop in retail sales for December 2016, with the month-on-month figure slipping 0.1 percent. This follows a rise of 0.1 percent seen in November and missed expectations for a 0.3% increase. The aussie fell versus the greenback after the data and [..]

Week Ahead – RBA and RBNZ meetings eyed in quiet data week

Posted on February 3, 2017 at 4:34 pm GMT

Central 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 slips despite solid jobs report

Posted on February 3, 2017 at 4:17 pm GMT

There was an abundance of important economic data out today. In the US all eyes were on the non-farm payrolls jobs report, the first under President Trump, while the ISM non-manufacturing PMI and factory goods orders were also of significant interest. We had important PMI releases from the UK and the Eurozone as well. The much-anticipated US jobs report today showed a gain of 227,000 jobs in the US economy for January, which followed a 157,000 rise in December and [..]

Forex News – Gain in US jobs overshadowed by fall in annual wage growth; dollar falls

Posted on February 3, 2017 at 3:45 pm GMT

The much-anticipated US jobs report for January was released today but the strong headline nonfarm payrolls number failed to lift the dollar. After a knee jerk reaction to the upside, the greenback saw a big tumble against the yen. Despite the gain of 227,000 jobs in the US economy in January, the market focus was elsewhere – on average hourly earnings, which were lower. The increase in payrolls followed a 157,000 gain in December and beat forecasts for an increase [..]

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

Posted on February 3, 2017 at 8:08 am GMT

EURGBP has been posting gains for the second day in a row, though it is currently mostly unchanged from the previous day’s close. Yesterday it rose by slightly more than 0.9%. The RSI indicator is currently at 52, in close proximity to the 50 neutral level that distinguishes positive from negative short-term market sentiment. The stochastics are painting a neutral short-term picture as well, since the %K line is in neutral area while it is converging with the slow %D [..]

Asian Session – Yen slips on BOJ bond buying, dollar steady ahead of jobs data

Posted on February 3, 2017 at 8:02 am GMT

Central banks moved the markets in Friday’s Asian session, ahead of the much anticipated US nonfarm payrolls report later in the day. The yen swung wildly in reaction to the Bank of Japan’s move to control rising Japanese bond yields. In an unscheduled operation, the BOJ bought an unlimited amount of bonds at a fixed rate in an effort to cap yields and maintain a five-month old policy of holding 10-year debt at around zero percent. The BOJ’s action resulted [..]

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