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Investment themes – Political developments trump fundamentals for dollar, pound

Posted on January 12, 2017 at 3:17 pm GMT

One interesting theme for the second half of 2016 as well as for the first few days of 2017 has been how political developments are moving two of the world’s most important currencies: the dollar and the pound. The two currencies are paying less attention to economic fundamentals and more on the pronouncements of the two countries’ new leaders, Prime Minister Theresa May and President-elect Donald Trump on Brexit and possible fiscal stimulus respectively. In the UK, statements by May [..]

Forex News – Lack of Trump policy detail drives dollar to one-month lows; peso tumbles

Posted on January 12, 2017 at 1:13 pm GMT

Donald Trump’s highly anticipated press conference on Wednesday left financial markets disappointed as the US President-elect provided little new detail on what economic policies he will pursue once he takes office on January 20. The US dollar fell sharply against its major counterparts as traders had been hoping that Trump would clarify some of his campaign pledges such as on tax cuts, infrastructure spending and trade policy. Expectations of a fiscal stimulus by the incoming administration had triggered the latest [..]

Technical Analysis – Gold climbs above 1200, marking a 7-week high

Posted on January 12, 2017 at 12:53 pm GMT

Gold managed to surpass the 1200 psychological level during today’s trading session after testing it several times since mid-November but failing to cross above it. The price at the time of writing, at 1205, marks a 7-week high for the precious metal. Today’s upside movement has allowed gold to rise above the 50-day moving average (MA), a bullish near-term signal, and should the daily close be indeed higher than yesterday’s it will mark the fourth straight day of gains. The [..]

Technical Analysis – AUDJPY in overall uptrend, eyes December’s 11-month high

Posted on January 12, 2017 at 8:57 am GMT

AUDJPY has been posting some daily losses (including in today’s trading session so far) but it’s been in an uptrend since virtually the beginning of the second half of 2016. Prices for the pair are currently above both the 50-day moving average (MA) and the 200-day one, while a bullish cross was recorded as well (start of December) with the 50-day MA crossing above the 200-day one. Both these facts are indicative of the positive sentiment that is currently in [..]

Asian session – Dollar extends sell-off following lack of economic policy details from Trump

Posted on January 12, 2017 at 8:23 am GMT

The US dollar sold off following the press conference of President-elect Donald Trump as there was little in the press conference itself to suggest that fiscal stimulus in the form of tax cuts or infrastructure spending was imminent once the new President assumes office on January 20. The dollar index lost almost 2 percent from its pre-conference high as it fell from 102.95 to today’s Asian session low of 101.14. Given the lack of fiscal policy details and Trump’s focus [..]

European Session – Markets look to Trump press conference for direction; dollar edges higher

Posted on January 11, 2017 at 3:22 pm GMT

Major currencies see-sawed in their recent trading ranges, with the US dollar edging upwards ahead of the much anticipated press conference by Donald Trump later in the day. The President-elect is due to hold his first press conference since his election win at around 1600 GMT where he is expected to provide some clarity on his policies. Investors will be particularly interested in his trade and economic policies given much talk about a fiscal stimulus and import tariffs. The dollar [..]

Technical Analysis – NZDUSD in consolidation mode; Bearish crossover recorded recently

Posted on January 11, 2017 at 9:37 am GMT

NZDUSD has been mostly moving within a narrow range over the last five trading days (between 0.6950 and 0.7050). This neutral tone is also projected by the RSI indicator which is currently at 50 and has remained in this 50 area throughout this period of consolidation. However, the bearish cross recently recorded with the 50-day moving average (MA) crossing below the 200-day one could indicate that we’re about to enter a period of downward movement for the pair. On the [..]

Asian session – US dollar recovers a little ahead of key Trump conference but Mexican peso hits record low

Posted on January 11, 2017 at 8:33 am GMT

The US dollar recovered some ground during Wednesday’s Asian trading, but it had given back some of those gains by the end of the session. The dollar index was around the 102 level, having traded as high as 102.20. Currency markets were relatively quiet ahead of a press conference by President-elect Donald Trump, where he is expected to outline some of his economic policies. There is considerable uncertainty about what economic policies the new President will adopt. On the positive side, fiscal [..]

European Session – Dollar struggles for direction in subdued trading

Posted on January 10, 2017 at 3:51 pm GMT

Currency markets were muted in European trading today as the absence of major data and investor angst about US President-elect’s press conference on Wednesday led to more cautious trading. The US dollar see-sawed around the 116 yen level while the euro was unable to hold above $1.06 by late European trading. Market concerns about what Donald Trump might reveal about his policies, particularly on trade, tax cuts and relations with China when he holds his first press conference since the [..]

Technical Analysis – GBPUSD in downtrend; 1.21 level comes into view

Posted on January 10, 2017 at 9:19 am GMT

GBPUSD has been under pressure for the third trading day in a row, sinking to more than 2-month lows. Prices are well below the 200-day moving average (MA), as well as below the 50-day one. This is indicative of the downward trend that is in place. Looking at the RSI indicator, it is in bearish territory well below 50, hinting to further declines in the near term. As regards the stochastics, the %K line has recently crossed below the slow [..]

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