News / Page 23

Asian session – Dollar index stays below 100 while pound rallies to 6-week highs

Posted on January 26, 2017 at 8:41 am GMT

The US dollar remained under pressure because of various protectionist initiatives by the new US administration, while the pound rallied to 6-week highs on optimism of a quick trade deal between the UK and the US, as well as progress on triggering Article 50. Despite a rising US stock market as well as higher US Treasury yields, the dollar was unable to make headway as foreign investors were wary of Trump’s protectionist policies, according to analysts. The new president authorized [..]

European session – Sterling up after May agrees Brexit white paper; Dollar hits 7-week low

Posted on January 25, 2017 at 3:55 pm GMT

UK 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 [..]

Forex News – Aussie slides on weak inflation as data keeps RBA rate cut prospect alive

Posted on January 25, 2017 at 2:35 pm GMT

Inflation data out of Australia on Wednesday failed to match analysts’ expectations, suggesting price pressures remain subdued despite rates being cut to a record low of 1.5%. The 12-month CPI rate rose from 1.3% in the third quarter to 1.5% in the final three months of 2016. The figure is the highest in a year but below forecasts of 1.6% and still below the Reserve Bank of Australia’s target band of 2-3%. On a quarter-on-quarter basis, CPI was up 0.5%, [..]

Technical Analysis – EURJPY looking neutral in the near-term

Posted on January 25, 2017 at 10:45 am GMT

EURJPY has posted some minor gains in today’s trading so far. The price at the time of writing is at 122.12. The RSI indicator has been hovering close to the 50 neutral level over the last couple of weeks and it is still in that area. During this time period, prices have been moving within a relatively narrow range. The stochastics are painting a neutral picture as well, with the %K line currently at 50. However, note that the %K [..]

Technical Analysis – EURUSD within the cloud following the uptrend since the start of the year

Posted on January 25, 2017 at 8:40 am GMT

EURUSD is experiencing some losses for the second day in a row. The pair has been trending upwards since the beginning of the year. The short-term bias as indicated by the RSI is bullish as the indicator is at 58, above the 50 mark that separates positive from negative sentiment. Looking at the Ichimoku analysis, the Tenkan-sen line (red) crossing above the Kijun-sen one (blue) is also a near-term positive signal. However, prices are currently inside the cloud. If they [..]

Asian session – Aussie drops following inflation; US dollar in uneasy calm

Posted on January 25, 2017 at 8:34 am GMT

The US dollar declined a little but then rebounded back to almost unchanged during today’s Asian session, as traders were still trying to weigh the impact of the new administration’s trade and economic policies. The dollar index traded in a relatively narrow range of 100.15 to 100.41, while there were few new developments out of the United States. Existing home sales for December dropped 2.8% instead of a drop of only 1.1% expected by economists, but the miss was mostly [..]

European Session – Pound fluctuates on Supreme Court ruling; Loonie jumps on pipeline deal

Posted on January 24, 2017 at 4:41 pm GMT

The 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 [..]

Technical Analysis – NZDUSD short-term bullish, medium-term neutral

Posted on January 24, 2017 at 1:29 pm GMT

NZDUSD has recorded a 10-week high during today’s intraday movement. The pair has been in an uptrend since effectively the start of the year. Looking at the RSI indicator it is in bullish territory at 63, well above the 50 level that separates positive from negative short-term sentiment. The near-term positive bias is supported by the stochastics as well as the %K line is also in bullish territory, while it has recently crossed above the slow %D line. A note [..]

Forex News – UK Supreme Court decision ruling brings relief to both government and opponents

Posted on January 24, 2017 at 1:21 pm GMT

The Supreme Court in the UK ruled on Tuesday that the British government is not authorised to bypass parliament in invoking Article 50 – the formal notice given to the EU for triggering the exit process from the bloc. The decision follows an appeal by the government to overturn the High Court’s initial ruling back in November when the court had ruled in favour of the businesswoman, Gina Miller, who had brought the legal case to the courts. The judges [..]

Technical Analysis – GBPUSD near-term bullish with the strength of the signal under question

Posted on January 24, 2017 at 9:26 am GMT

GBPUSD has recorded a near-term 6-week high before falling below yesterday’s close in today’s trading so far. Technical indicators indicate a continuation of the short-term uptrend momentum. The MACD histogram has recently turned positive and the RSI is in bullish territory at 57, although not far away from the neutral 50 level, perhaps indicating that the short-term bullish signal is not that strong. On the downside, the 50-day moving average (MA) at 1.24 is expected to act as support. Should [..]

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