News / Page 26

Asian session – Pound recovers ahead of May, dollar drops, safe havens gain

Posted on January 17, 2017 at 8:33 am GMT

The British pound steadied ahead of a speech by Prime Minister Theresa May later today on the UK’s priorities regarding Brexit. Markets were also worried by the increasingly protectionist tone coming out of the Trump administration and the uncertainty regarding his policies when he takes office this Friday. These factors caused some profit-taking in risk assets and a rise in safe havens such as gold and the Japanese yen. According to reports from her office, May will not seek a [..]

European Session – Sterling attempts to move away from 32-year lows; Dollar struggles to cling onto 114 yen

Posted on January 16, 2017 at 4:18 pm GMT

The British pound was attempting a rebound in today’s European session after the currency opened sharply lower today on newspaper reports on Sunday that the UK Prime Minister will signal a ‘hard Brexit’ in her speech tomorrow. Growing fears that the UK government is prepared to abandon the EU single market drove the pound to as low as 1.1986 dollars earlier in the day, making it the lowest since 1984 if October’s flash crash is excluded. British PM, Theresa May, [..]

Technical Analysis – EURJPY in bearish short-term alignment

Posted on January 16, 2017 at 11:34 am GMT

EURJPY has been edging lower during today’s trading session. The price at the time of writing is at 120.964. Looking at the Ichimoku analysis, the Tenkan-sen line (red) has recently crossed below the Kijun-sen (blue). This alignment is a signal of negative short-term sentiment for the pair. Adding to evidence of a downside bias over the short-term is the RSI indicator which is at 43, below the 50 threshold that distinguishes negative from positive short-term sentiment. On the upside, the Tenkan-sen [..]

Technical Analysis – EURUSD recording gains despite longer-term bearish trend

Posted on January 16, 2017 at 8:59 am GMT

EURUSD opened Monday lower from Friday’s close but it’s been posting some minor gains since the beginning of today’s trading session. The price at the time of writing was 1.0616. The RSI indicator is in bullish territory indicating positive short-term momentum. It has remained in this area during the three previous trading days as well; a period that the pair has been on the rise. It is of note though that RSI is currently at 55, not far above the [..]

Asian session – Sterling drops on reports May will opt for ‘hard’ Brexit

Posted on January 16, 2017 at 8:20 am GMT

The pound fell sharply during Monday’s Asian trading as the market waited nervously for a key speech by British Prime Minister Theresa May on Brexit later this week. According to press reports, the UK would aim to abandon the EU’s tariff-free area in exchange for control over its immigration policy. Pound / dollar fell below the psychologically important 1.20 level to trade as low as 1.1986; levels unseen since the October sterling flash crash. The pound managed to reclaim the [..]

European Session – Dollar makes late rebound despite retail sales miss; euro hits 2-month high versus pound

Posted on January 13, 2017 at 3:59 pm GMT

A late comeback by the US dollar led to a sharp reversal in most major pairs in an otherwise quiet session on the week’s last trading day. The greenback made an unexpected move upwards despite disappointing retail sales numbers out of the US today, with some analysts attributing this to a short squeeze. US retail sales came in lower-than-expected in December, and ‘core’ retail sales were particularly concerning. On the headline level, the month-on-month growth in December came in at [..]

Week Ahead – China GDP, ECB meeting and May’s Brexit speech in focus

Posted on January 13, 2017 at 2:29 pm GMT

The coming week will be a busier one for financial markets as key data releases and central bank meetings get underway. GDP figures out of China and the European Central Bank’s policy meeting will be the highlights but the biggest headline grabber could be the much-awaited speech on Brexit by British Prime Minister, Theresa May. Also coming up next week is the World Economic Forum in Davos, Switzerland on January 17-20, though major central bank heads appear to be giving [..]

Technical Analysis – Germany 30 stock index recording gains, reaching 17-month high

Posted on January 13, 2017 at 9:16 am GMT

The Germany 30 stock index has eased off from the 17-month high reached on January 11, but it has been trading close to that level since. Looking at the Ichimoku analysis, the Tenkan-sen line (red) has been above the Kijun-sen (blue) since late November. This positive alignment is bullish. The index is also currently trading above the cloud, another short to medium-term sign of upside potential. At the time of writing the index is at 11573.50; roughly the level of [..]

Asian session – US dollar steadies ahead of retail sales

Posted on January 13, 2017 at 8:45 am GMT

The US dollar was trying to contain the damage from Trump’s press conference on Wednesday, as the dollar index came back by around 0.5% from the previous day’s low. There was little fresh news for the market to digest and it seemed movements were still related to Wednesday’s inconclusive Trump press conference. Euro / dollar dropped back to 1.0625, compared to the previous day’s high of 1.0684, while dollar / yen was nearly a yen higher than its previous day’s [..]

European Session – Dollar steadies around 114 yen; Euro hits one-month high on ECB QE split

Posted on January 12, 2017 at 4:08 pm GMT

The slide in the US dollar continued to lift other currencies to multi-week highs in today’s European session as investors shun the greenback after Donald Trump failed to offer any new insight on his policy direction. The dollar index fell to a one-month low of 100.72 as the greenback sank against most currencies. Against the yen, the dollar hit a one month low of 113.75 yen at the start of European trading before rebounding to around 114 yen in late [..]

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