News / Page 295

Asian Session – Yen weaker after Japanese data, euro under pressure ahead of GDP

Posted on August 14, 2014 at 7:00 am GMT

The yen weakened for a second day against the dollar after another run of weak Japanese data. An unexpected plunge in new machinery orders from Japanese companies raised concerns about Japanese businesses’ appetite for investment. Orders rose less-than-expected by 8.8%, well below the 15.3% gain forecasted. The weak data increases speculation that the Bank of Japan might have to provide additional stimulus, which would not be helpful for the yen. The dollar inched up to a high of 102.64 yen, [..]

Forex News – Flat US retail sales in July places dollar under pressure

Posted on August 13, 2014 at 3:17 pm GMT

The dollar tumbled against the yen and other major counterparts and US Treasuries reversed earlier gains following a soft US retail sales report on Wednesday. According to a report from the US Commerce Department, retail sales missed forecasts in July and fell short of the 0.2% projections to remain flat from June’s 0.2% increase. The catalyst behind the drop was the decline in auto sales for a second straight month. Also lagging were sales of furniture and electronics and appliances. [..]

European Session – Sterling dives on dovish Bank of England forecasts

Posted on August 13, 2014 at 1:14 pm GMT

Sterling was one of the worst performers of the major currencies today after a dovish Bank of England report which forecast subdued growth in wages in coming months. This dampened speculation of a rate hike this year. The BoE cut its forecast for wage growth this year in half, to 1.25 percent. It then expects wages to grow more strongly in 2015. The pound fell to a 10-week low of 1.6698 against the dollar from 1.6837. The euro struggled against [..]

Technical Analysis – EURJPY within bearish channel

Posted on August 13, 2014 at 8:20 am GMT

EURJPY continues its decline within the downward channel and remains bearish below the 200-day moving average. The pair is hovering around a key level at 136.80. This is where the 61.8% Fibonacci retracement level of the 131.18 – 145.65 upleg lies (November – December) and has proven to be an important support level. Next key support lies at 135.71 (August 8 low) and solid resistance lies at 138.01 (August 1st high). A daily close above this resistance level would weaken [..]

Asian Session – Japan GDP misses, focus turns to BoE economic report

Posted on August 13, 2014 at 6:56 am GMT

The yen was little changed despite poor Japanese growth data which showed the economy contracted the most since 2011 when the nation was struck by a massive earthquake. Japan’s GDP shrunk the most in almost three years as the nation’s sales tax hike implemented on April 1st is affecting the economy. GDP fell 6.8% at an annualized rate in Q2, although the figure was slightly less than a median market forecast for a 7.1% drop. The dollar traded within a [..]

European Session – Euro hit by soft German investor sentiment

Posted on August 12, 2014 at 2:31 pm GMT

The euro was one of the worst performing major currencies today as it plumbed close to a one year low, losing 0.2% to reach 1.3332. The catalyst to the euro’s decline was a weak German ZEW investor confidence survey for the month of August. The index dropped to a 1 ½ year low 8.6, worse than forecasts for a decline to 18.2 from a prior 27.1. Hurting German investor sentiment was the Ukraine crisis. Focus shifts to Wednesday’s German CPI [..]

Forex News – German morale knocked down to 1 ½ year low as Ukraine crisis take its toll

Posted on August 12, 2014 at 12:37 pm GMT

Disappointing data from Germany caused the euro to extend losses today to hit its lowest level versus the US dollar in almost a year as investors were concerned about the strength of economic recovery in Europe’s largest economy. The ZEW survey of investors’ economic expectations fell to 8.6, the lowest since the end of 2012. This was down from a previous 27.10 and below forecast for a decline to 18.2. Meanwhile the index for German investors’ current assessment fell to [..]

Technical Analysis – EURUSD downside bias

Posted on August 12, 2014 at 7:28 am GMT

EURUSD has fallen back below the key 1.3400 level and the underlying long-term downtrend remains. On the 4-hour chart price crossed below the tenkan-sen line giving a sell signal. Only a daily close above the tenkan would threaten the bearish bias. Technicals are showing a bearish bias. The market is currently below the Ichimoku cloud. RSI is bearish below 50 and the stochastic is showing oversold levels. The target to the downside lies at 1.3332 (August 6 low). To the [..]

Asian Session – Yen slides for second day, euro weak ahead of German ZEW

Posted on August 12, 2014 at 6:37 am GMT

The only major economic data released during the Asian session was from Australia. The National Australia Bank’s monthly survey of business confidence hit a 10-month high in July after rising from 8 to 11 points. The aussie was briefly boosted after the data to 0.9267 but came under pressure again to last trade at 0.9250. The pair has failed to break above the key psychological level of 93 US cents since falling below it on August 7. Geopolitical concerns have [..]

European Session – Sterling weak ahead of key data this week

Posted on August 11, 2014 at 1:21 pm GMT

The risk environment was improved today, with the easing in concerns over Ukraine overshadowing tensions in Iraq. The yen remained weak against the dollar as an uptick in risk appetite today reduced demand for the safe haven currency. The key risk for the Japanese currency will be this week’s Japanese GDP numbers, expected to drop 1.8% quarter on quarter and down 7% year-on-year. The dollar retained gains made from Friday’s relief rally against the yen, trading above the key 102.00 [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.

News

XM Live Chat