FX Daily Outlook | 19-04-17
Posted on April 19, 2017 at 8:07 am GMT[..]
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Forex Market Review (Asian Session) – Sterling holds gains at six-month highs; aussie underperforms
Posted on April 19, 2017 at 7:39 am GMTSterling held on to gains made after surging to its highest level in more than six months on Tuesday in reaction to an announcement by UK Prime Minister Theresa May who surprised markets by calling a snap general election in June. Markets see a sure win for Theresa May and the Conservative party and expect that this would strengthen her position during the Brexit negotiations as well as stabilize domestic politics. The pound rallied to a high of $1.2904 by [..]
Forex Market Review (European Session) – Pound surges on early election call by PM May; Dollar index below 100
Posted on April 18, 2017 at 2:53 pm GMTIn the absence of major data releases, the main movements today pertained to political developments including the UK Prime Minister Theresa May’s decision to call early elections in order to, among others, establish a stronger mandate in negotiating the nation’s exit from the EU. Looking at the dollar index, a broader measure of dollar strength, it touched a near three-week low as it fell below the 100 mark to reach 99.82. The index was marginally below 100 in late European [..]
Technical Analysis – EURGBP increasingly bearish in short-term after beak below 0.8400
Posted on April 18, 2017 at 2:17 pm GMTEURGBP dropped to a four-month low today after breaking below the key 0.8400 level. This important support is now at risk. A daily close below it would increase further downside towards another key level at 0.8300. Technical indicators are giving bearish signals. MACD is negative and RSI is trending down in bearish territory. Additionally, the 50-day moving average (MA) is now below the 200-day MA. The short-term outlook has turned bearish after several tests of resistance at 0.8600. This proved [..]
Forex News – Sterling extends gains after UK jobless data
Posted on April 12, 2017 at 2:17 pm GMTThe pound extended its gains for a third day on Wednesday after UK data showed the number of unemployed Britons continue to fall in the three months to February. Today’s jobs report from the Office for National Statistics (ONS) gave little cause for concern about the health of the UK labour market amid worries that Britain’s economy may be losing steam in the run up to the Brexit negotiations. The number of people out of work fell by 45,000 to [..]
Forex Market Review (European Session) – Yen extends gains on risk aversion; Pound edges up after UK inflation data
Posted on April 11, 2017 at 2:06 pm GMTThe Japanese yen extended its gains into today’s European session as investors sought safety amid the heightened risk-off sentiment following tensions in the Middle East and in North Korea. US treasury notes were also in demand, with the yield on 10-year notes dropping to an intra-day low of 2.323%, which weighed on the greenback. Gold meanwhile climbed back towards last week’s 5-month high, hitting $1266 an ounce in late European trading. The US dollar wallowed around 110.60 yen for much [..]
Forex News – Pound jumps after UK inflation remains above BOE 2% target
Posted on April 11, 2017 at 11:14 am GMTSterling rose after inflation data showed UK consumer prices remained above the Bank of England’s 2% target in March. According to the Office for National Statistics, the annual CPI figure came in at 2.3% last month, as was widely expected, and was the same rate of increase as in February when CPI rose at the fastest since June 2013. That was the first time inflation exceeded the BoE’s 2% target in more than three years. The pound jumped to high [..]
Forex Market Review (European Session) – Dollar down despite 4-week high earlier in the day; upbeat housing data boost the loonie
Posted on April 10, 2017 at 2:47 pm GMTToday’s European session was lacking any major economic releases as only the Sentix survey measuring Eurozone investor morale and housing starts out of Canada gathered some attention. Beyond those, recent geopolitical developments played a role in today’s movements as well. The dollar index was down one-tenth of a percent during late European session trading. The index, a broad gauge of dollar strength versus the currencies of major US trade partners, rose to a near four-week high of 101.34 earlier in [..]
Forex Market Review (European Session) – Dollar rebounds after closer look at latest job report; Pound slides to nine-day low
Posted on April 7, 2017 at 3:36 pm GMTThe highlight of the day in terms of data was the US jobs report but other developments on the geopolitical front, namely the US attack in Syria, also shaped market behavior during today’s European session trading. The dollar was stronger for the day relative to the euro and sterling but slightly weaker versus the Japanese currency in late European session trading. Dollar / yen hit an eleven-day low of 110.12 in Asian trading as news of a US missile launch [..]
Forex News – UK industrial and trade data heightens slowdown fears; pound slips
Posted on April 7, 2017 at 10:44 am GMTEconomic data out of Britain today heightened fears about a possible slowdown in UK growth, just as Brexit negotiations officially get underway. After a strong surge in industrial production at the end of 2016, output fell for the second consecutive month in February, raising expectations of weak first quarter growth. Industrial output fell 0.7% month-on-month in February, missing estimates of a 0.2% increase, while the annual rate eased from an upwardly revised 3.3% in January to 2.8% in February. The [..]
