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Forex News – Clinton FBI boost spurs dollar and risk rally

Posted on November 7, 2016 at 12:01 pm GMT

Risk appetite was back on in Monday’s trading just a day before Americans go to the polls to vote for their next president. The dramatic shift in sentiment comes after the FBI on Sunday said it had not changed its initial findings that Hillary Clinton did not break the law by using a private email server when she was Secretary of State. The unchanged conclusion follows the FBI’s announcement 10 days ago that it had reopened its investigation after the [..]

Technical Analysis – EURUSD reverses from 4-week high to drop below 1.11

Posted on November 7, 2016 at 8:57 am GMT

After a steady 2-week rally that took EURUSD above the key psychological 1.11 level, the pair tumbled sharply on Monday to touch a low of 1.1052 in the Asian trade. This was quite a big drop from Friday’s 4-week high of 1.1139. RSI has reversed its advance and is now close to the 50 line which demarcates bullish and bearish territory. A break below 50 would see momentum turn bearish and further downside is expected for the EURUSD. Looking at [..]

Asian Session – Risk appetite boosts dollar above 104 yen as FBI clears Clinton of criminal charges

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

There was a relief rally in the markets on Monday as the FBI released a letter on Sunday reaffirming that Hillary Clinton was clear from criminal charges regarding her email scandal. This news comes on the eve of the US elections and boosted the dollar against the safe haven yen as risk appetite was boosted. Last week the FBI reopened the Clinton email investigation after some new evidence appeared related to her use of a private e-mail server. After reviewing [..]

European Session – Payrolls report fails to move dollar; Loonie hits 8-month low on oil, mixed data

Posted on November 4, 2016 at 4:04 pm GMT

A solid gain in US jobs in October was unable to lift the US dollar in today’s European session as markets remain gripped by the American presidential race as polling day draws nearer. Uncertainty over the outcome of the US election next Tuesday kept most major currencies within their recent trading range despite a relatively a busy day for economic data, the highlight of which was the non-farm payrolls report. US non-farm payrolls rose by 161k in October, slightly below [..]

Forex News – Nonfarm payrolls rise by 161,000 in October, muted reaction by markets as US elections in focus

Posted on November 4, 2016 at 2:52 pm GMT

The US jobs report that was released today indicated that employment growth was solid and suggested a Fed rate hike in December is still on the table. The jobs report came after Wednesday’s Fed meeting and just days before the US elections. In October, nonfarm payrolls rose by 161,000 which was below expectations of 175,000. The year-to-date monthly average is 181,000 jobs created and today’s number falls short of this but it is still a respectable number. What was encouraging was [..]

Week Ahead – US elections take centre stage in quiet data week; RBNZ also eyed

Posted on November 4, 2016 at 2:08 pm GMT

The presidential election in the United States looks set to dominate the markets next week as investors become increasingly uneasy about the ever tightening race between Clinton and Trump. A win by either candidate would likely rule the market theme beyond Election Day in what is a relatively quiet week for economic data. The main non-political event next week will be the Reserve Bank of New Zealand’s policy meeting, while Chinese, Eurozone and UK data will fill up the economic [..]

Technical Analysis – EURGBP falls to key support but remains in range

Posted on November 4, 2016 at 8:33 am GMT

EURGBP saw strong selling pressure on Thursday as the recent 2-week rally lost steam and prices reversed back down from the 0.9048 high. RSI has turned down which also highlights the loss in the market’s upside momentum. The pair has reached a critical support area now and it maintains its trading range between important support at 0.8880 and resistance at 0.9050. EURGBP therefore is neutral for now but looking at the market structure since the end of August, the pair [..]

Asian Session – Dollar rises back above 103 yen as polls show Clinton leading

Posted on November 4, 2016 at 7:09 am GMT

US election worries are still pressuring the dollar and supporting safe haven assets but in Friday’s Asian session there appeared to be some easing in risk aversion. The dollar index moved off yesterday’s three-week low and halted its decline against the yen after two polls had Democrat Hillary Clinton leading Republican Donald Trump in the race for the White House. While US politics is the biggest driver in the markets these days, the US nonfarm payrolls report out later today [..]

European Session – Sterling soars above $1.24 on UK court Brexit ruling and less dovish BoE

Posted on November 3, 2016 at 4:30 pm GMT

The British pound was one of the best performing currencies in Thursday’s European session as a UK High Court ruled the government could not trigger Article 50 without Parliament’s permission. The US dollar meanwhile bounced off from 4-week lows against the yen as political worries eased slightly, but its gains were capped from weak US data. A narrowing lead for Hillary Clinton in the polls continued to pressure the dollar today but the greenback managed to pare some of its [..]

Forex News – Sterling propelled to 4-week high as UK High Court rules Parliament must vote on Brexit plans

Posted on November 3, 2016 at 3:22 pm GMT

There was a lot of focus on the UK and sterling today due to some important events and data taking place. The pound rallied significantly on the news of the UK High Court ruling that Parliament must vote before Article 50 is invoked. So any Brexit plan has to be approved first by lawmakers before being implemented. After the court ruling, PM Theresa May’s office said that she still plans to trigger Article 50 before the end of March. Sterling [..]

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