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Asian session – Dollar steadies after Trump protectionism-related sell-off

Posted on January 24, 2017 at 8:35 am GMT

The US dollar steadied during Asian trading after the dollar index briefly traded under the 100 level, while dollar / yen traded at its lowest in almost 2 months. The US dollar index dropped to 99.92 before rebounding to 100.21 in late Asian trading as support emerged for the greenback. In addition, dollar / yen fell to as low as 112.52 before recovering above the 113 handle at 113.12. Overall trading was volatile – particularly in dollar / yen as [..]

Forex News – Trump Inauguration fails to reignite dollar rally

Posted on January 23, 2017 at 4:16 pm GMT

Donald Trump’s conciliatory victory speech following the November 8 election spurred mass optimism in the markets that led to a risk-on period with the dollar recording significant gains against its main counterparts. His inauguration speech though fared little resemblance to the November 9 one, as the themes of protectionism and nationalism reemerged as central ones. The tone of his speech was also confrontational rather than unifying. Market participants have priced in a lot of positive developments associated with the Trump presidency [..]

European Session – Dollar steadies near 1½-month lows as Trump angst continues to worry markets

Posted on January 23, 2017 at 3:33 pm GMT

Investor anxiety over Donald Trump’s policies continued to dampen market sentiment in European trading on Monday as the US dollar languished near 6½-week lows against a basket of currencies. The dollar index hit the lowest since December 8, touching 100.21, before recovering slightly to around 100.45 in late European session. Against the yen, the greenback hovered around 113.50 after dropping as low as 113.16 in the Asian session, while the euro eased slightly from 1½-month highs of 1.0754 dollars. The [..]

Technical Analysis – Gold bullish as it enters the cloud; Records 2-month high

Posted on January 23, 2017 at 9:16 am GMT

Gold is posting some gains during today’s session so far, at one point rising above 1219 recording a 2-month high. Should it close higher, it will mark the 10th trading day of gains out of the last 11. Delving into the Ichimoku analysis, the Tenkan-sen line (red) has crossed above the Kijun-sen (blue) in the beginning of January. This alignment is a bullish short-term signal. The bullish short-term momentum is reinforced by the RSI indicator which is at 66, well [..]

Asian session – US dollar extends losses after Trump inauguration

Posted on January 23, 2017 at 8:28 am GMT

The US dollar extended its decline from Friday, as the market continued to lighten up on long dollar positions after Donald Trump’s inauguration speech. According to analysts, Trump’s speech was nationalistic and protectionist in tone as it stressed the need to produce goods in the United States and to hire US workers. The Trump administration looks more likely to follow a unilateral approach on economic and trade policy. There was less in the speech about upcoming fiscal stimulus; a theme [..]

European Session – Markets steady ahead of Trump’s inauguration; Oil rallies ahead of compliance meeting

Posted on January 20, 2017 at 4:16 pm GMT

Currency markets were relatively calm in Friday’s European session as global attention turns to President-elect Donald Trump’s inauguration ceremony in Washington. Investors will be eagerly watching for further clues on Trump’s economic policies in his inauguration address as much uncertainty remains over whether the new administration will implement many of the pledges made during the election campaign. The greenback fluctuated around 115 yen for much of the session, having recovered from its Asian session low of 114.53 to peak at [..]

Week Ahead – First look at US, UK Q4 GDP; UK Supreme Court to rule on Brexit trigger

Posted on January 20, 2017 at 2:45 pm GMT

GDP and CPI data will dominate the coming week as the UK and the US publish their first estimates of how growth fared in Q4, while the latest inflation numbers out of Australia, New Zealand and Japan will come under the spotlight too. Headlines from Donald Trump’s inauguration speech could have an impact on trading on Monday, and there could also be some volatility from the UK Supreme Court’s ruling on triggering Article 50 on Tuesday. Eurozone economy likely strong [..]

Technical Analysis – AUDUSD near-term uptrend set to continue

Posted on January 20, 2017 at 8:36 am GMT

AUDUSD has been moving up since the beginning of the year with technical indicators currently projecting a continuation of the uptrend in the short-term. The RSI indicator is in bullish territory at 65, well above the 50 threshold that separates positive from negative near-term momentum. This view is reinforced by the stochastics as the %K line is at bullish levels as well (at 73), after recently coming off from overbought territory. The price at the time of writing is 0.7560, [..]

Asian session – Dollar backtracks slightly ahead of Trump inauguration; Chinese GDP in line

Posted on January 20, 2017 at 8:32 am GMT

The US dollar posted some modest losses during today’s Asian session, as a speech by Fed Chair Janet Yellen in Stanford sounded a little less hawkish than the one given the previous day in San Francisco. There was also uncertainty ahead of Donald Trump’s key inaugural address later in the day, where economic issues could be featured given Trump’s pre-election promises of more jobs and faster economic growth. Chair Yellen stressed the need for a gradual approach to higher interest [..]

European Session – Euro tests $1.06 as Draghi plays down threat from rising inflation

Posted on January 19, 2017 at 4:02 pm GMT

The euro came under pressure on Thursday as ECB President Mario Draghi played down any immediate risks from the recent pick-up in inflation across the Eurozone. The US dollar meanwhile continued to advance higher following yesterday’s hawkish remarks by Fed Chair Janet Yellen, and the pound was also back in demand. As widely expected, the European Central Bank held its three key interest rates unchanged today at its first policy meeting of the year. In addition, the Bank kept the [..]

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