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Asian Session – Dollar firm above 105 yen, bond yields rise

Posted on November 10, 2016 at 7:39 am GMT

Bonds extended their sell-off in Asia today as markets made an astonishing comeback in the aftermath of Trump’s victory. The bold changes that President-elect Donald Trump touted in his victory speech on Wednesday led to a huge turnaround in stock and currency markets. The dollar surged as bond prices fell and yields jumped. The dollar held onto gains in Asian trading today as the US 10-year treasury yield hovered around 2%, its highest since January. Increasing odds of a Fed [..]

Forex News – US Treasury yields jump, helping dollar recover; Trump looks to boost US economy with fiscal spending

Posted on November 9, 2016 at 3:25 pm GMT

Donald Trump defied polls and defeated Hillary Clinton in what was a very tight US presidential race. The election results on Wednesday caused concern in financial markets, as a Trump administration raises doubts about globalization since it would be in favour of more protectionist trade policies. Trump wants to revive the US rust belt and punish American companies such as auto makers who produce in Mexico due to lower wages. A Trump administration would be a backlash for globalization and [..]

Forex News – Markets calmer after being rocked by volatility from shock Trump win

Posted on November 9, 2016 at 12:03 pm GMT

Financial markets steadied after the start of European trading, reversing some of the sharp gains from just a few hours before when the early counts pointing to a Trump win triggered a wave of panic globally. Expectations of Hillary Clinton winning the US presidential election had been rising in the days prior to the vote, with most polls giving the Democratic candidate a slim lead against her Republican rival, Donald Trump. Clinton’s increasing odds had boosted risk assets, with global [..]

Technical Analysis – EURUSD jumps to 1.1300 before reversing gains

Posted on November 9, 2016 at 9:34 am GMT

EURUSD surged early on Wednesday from around 1.1000 to 1.1300, its highest level in two months. The rally was short-lived and the strong resistance level at 1.1300 was left in tact. Looking at the 4-hour chart, RSI rose to overbought levels above 70 and turned back down nearing 50. EURUSD reversed lower to break below the 1.1100 level. It remains to be seen now whether EURUSD can maintain its bullish move that took place from the October 25 low of [..]

Asian Session – Gold surges, dollar tumbles, Mexican peso at record low as news outlets project Trump win

Posted on November 9, 2016 at 7:48 am GMT

Risk sentiment took a hit and the dollar tumbled against the yen early on Wednesday along with other risk currencies as it appeared that Donald Trump took the lead in the US presidential election. As election results were coming out showing that Trump won some key states and he was leading in the vote count, it was looking more likely that he could win the election to become the 45th president of the US. Republicans are also projected to keep [..]

European Session – Dollar subdued as voting opens in US presidential election

Posted on November 8, 2016 at 4:07 pm GMT

Trading was subdued in Tuesday’s European session as most major currencies held steady as voting began in the United States for the country’s next President. The dollar extended yesterday’s gains to climb to a fresh one-week high of 104.85 yen, while US equities opened slightly lower in cautious trading on election day. Risk sensitive currencies such as the Australian and New Zealand dollars gave up some of their gains from the Asian session as some traders became skittish ahead of [..]

Forex News – China’s exports continue to decline on subdued demand

Posted on November 8, 2016 at 1:32 pm GMT

Exports from China declined for a seventh consecutive month in October, showing little sign of a turnaround. Imports also disappointed as the latest trade numbers raised concerns about the sustainability of growth in the world’s second largest economy. According to today’s data, exports fell by 7.3% year-on-year in October, missing estimates of a milder decrease of 6.0%. However, the figure was an improvement on the previous month’s 10% drop. Imports declined by 1.4% y/y in October, which was also better [..]

Technical Analysis – AUDUSD overall neutral bias; needs to remain above key 0.7700 level to keep bulls in play

Posted on November 8, 2016 at 8:52 am GMT

AUDUSD started trading today near Monday’s high of 0.7728 but fell during Asian trading to briefly dip below the key 0.7700 level. The pair has steadied above the 0.7700 level for now but it is an immediate support level which if breached would target next support of 0.7656 (Monday’s low). Below this level, next support lies at 0.7630. Clearing Monday’s high of 0.7728 could see further upside towards the October 20 high of 0.7733 and then the August high of [..]

Asian Session – Dollar steady ahead of voting; aussie down on disappointing China trade data

Posted on November 8, 2016 at 7:42 am GMT

The currency market is clearly positioning for a Clinton win and this helped the US dollar remain firm against the yen today after a big jump on Monday. The latest polls are showing that Democrat Hillary Clinton has a lead of four percentage points against Republican candidate Donald Trump as voting begins in the US today. Investors appear to be mainly focused on the US elections and data out of China today had little impact on the markets. US equity [..]

European Session – Dollar holds near day’s highs as equities rally, yen retreats

Posted on November 7, 2016 at 3:34 pm GMT

The risk-on sentiment brought on by the FBI’s decision not to bring criminal charges against Hillary Clinton continued to prevail financial markets in Monday’s European session. Yesterday’s announcement by the FBI that they are closing their investigation into Clinton’s use of a private email server has given a last-minute boost to the Democrats’ campaign. This in turn has led to a relief rally ahead of Tuesday’s presidential election in the US. The dollar hit a one-week high of 104.62 yen [..]

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