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European Session – Euro see-saws on Deutsche Bank rumours; Dollar unfazed by Fed, data

Posted on September 28, 2016 at 3:05 pm GMT

The euro was under focus for much of today’s European session as uncertainty over the fate of Germany’s largest lender caused the currency to fluctuate. Meanwhile, the dollar held steady against the yen as traders awaited Fed Chair Janet Yellen’s semi-annual testimony in Congress. The future of Deutsche Bank was the main theme in European markets on Wednesday amid rumours that the German government is preparing a rescue plan for the troubled bank, which has been hit by a mega-large [..]

UK government confusion over Brexit weighs on pound even as economy holds steady

Posted on September 28, 2016 at 12:37 pm GMT

The British pound has retraced about 80% of its August-September rally when a series of much stronger-than-expected data helped pull sterling away from near 31-year lows. Post-Brexit data out of the UK have surprised even the most optimistic economists of the possible impact on the British economy from the shock vote to leave the EU. However, the rosier outlook has not much changed the view of the Bank of England that the UK economy will likely still need more stimulus, [..]

Technical Analysis – Gold neutral on daily chart, in the cloud; 1300 key level

Posted on September 28, 2016 at 7:40 am GMT

Gold has had a very good 2016, but its Brexit-inspired rally seems to have fizzled out in early July. The high it reached has been $1375 an ounce on 6 and 11 July (also a near 2 ½ – year high). Since then there has been some consolidation, although the precious metal has managed to hold the 1300 level. Looking at the Ichimoku analysis, although longer-term price action is generally bullish, this momentum has weakened lately. The faster-moving red Tenkan-sen [..]

Asian Session – US dollar steady against yen and euro after Fed speakers, data

Posted on September 28, 2016 at 6:53 am GMT

The US dollar held on to the gains of the previous day against the euro and was off its lows versus the Japanese yen, as incoming data was positive for the greenback despite some relatively dovish Fed speakers. The euro was pinned near the 1.12 mark versus the dollar, due to re-emerging worries about the health of Europe’s banks and political uncertainty in Italy ahead of a key referendum in December. Deutsche Bank’s shares fell to a new record low Tuesday on [..]

European Session – Dollar erases gains versus yen; Oil slumps as hopes of deal fade

Posted on September 27, 2016 at 2:57 pm GMT

The positive risk sentiment brought on by last night’s Presidential debate in the US eroded during today’s European session. The US dollar reversed its post-debate gains when it rose against the yen after polls showed Hillary Clinton was seen as the stronger candidate. The greenback hit a high of 100.98 yen just before the European open but touched a low of 100.08 yen in late session. European stock markets also failed to benefit from the risk-on mood prevailing in today’s [..]

Clinton debate win boosts risk-on sentiment but dollar reaction limited

Posted on September 27, 2016 at 11:09 am GMT

Viewers in America and across the world watched in anticipation the first debate between US presidential candidates Hillary Clinton and Donald Trump yesterday, as the 2016 race to the White Housing is proving one of the tightest in history. The Democratic nominee Hillary Clinton was seen as the winner of the first of three debates taking place before the Presidential election on November 8. The markets clearly have their favourite as indicated by the reaction to Monday’s televised debate. A [..]

Technical Analysis – GBPUSD remains in 1.28-1.35 post-Brexit range with negative bias

Posted on September 27, 2016 at 7:29 am GMT

Pound / dollar has recently fallen below the psychologically important 1.30 level, but so far the post-Brexit low (1.2794) has held. Following the Brexit vote on June 23 and the huge move in the pound, pound / dollar has been spending its time in the broad 1.28-1.35 range. Right now it is closer to the bottom of that range. Any upward reactions of the pound might be capped by the 50-day moving average at 1.3140. Note that the 200-day average [..]

Asian session – Mexican peso surges on Clinton win after first debate; yen and gold weaken

Posted on September 27, 2016 at 5:29 am GMT

Risk appetite was back in the currency markets on Tuesday after the first US presidential debate suggested that Democratic candidate Hillary Clinton won the debate late on Monday against Republican candidate Donald Trump. A poll by CNN/ORC indicated that 62% of respondents said that Clinton won the debate. There was a relief rally in risk assets and the S&P rose, while safe havens like the yen and gold saw losses. The Mexican peso benefitted the most from the results because [..]

European Session – Euro extends gains on strong Ifo; Dollar eyes Fed speakers and Clinton-Trump debate

Posted on September 26, 2016 at 2:22 pm GMT

Risk sentiment deteriorated during the course of the day with the US dollar coming under renewed pressure in Monday’s European session. Key risk events such as a series of speeches by Fed policymakers today and in the rest of the week, as well as the US presidential election debate later in the day, kept the dollar under pressure against most major currencies. Global equities also took a tumble as investors around the world await the first of three televised debates [..]

Technical Analysis – EURUSD remains range-bound between 1.1365 and 1.1122

Posted on September 26, 2016 at 7:32 am GMT

Euro / dollar, the world’s most widely traded currency pair, has been unusually quiet for the past month and a half. It made a high of 1.1365 on August 18, while testing a low of 1.1122 both on August 31st and September 21st. The Ichimoku analysis shows a positive bias in the short-run, as the shorter-term Tenkan –sen line has crossed above the longer-term Kijun-sen on September 22. Price action has to rise and remain above the cloud at 1.1237 [..]

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