FX Daily Outlook | 08-06-17
Posted on June 8, 2017 at 9:21 am GMT[..]
XM does not provide services to residents of the United States of America.
Forex Market Review (Asian Session) – Sterling hits 2-week high ahead of UK election; euro steady with focus on ECB; dollar soft into Comey hearing
Posted on June 8, 2017 at 7:24 am GMTCurrency markets were showing signs of caution ahead of key risk events later in the day. Risk aversion supported gold and the yen. The euro and sterling held steady while the dollar index wallowed near seven-month lows. Investors are bracing for the European Central Bank’s policy meeting and for the UK general election. All eyes will also be on former FBI Director James Comey’s congressional testimony. In terms of economic data, the downside miss on Australia’s April trade surplus pushed [..]
Forex Market Review (European Session) – Dollar flat ahead of Triple Threat Thursday; inflation concerns hurt the euro
Posted on June 7, 2017 at 2:59 pm GMTToday’s European session was light in terms of economic data with notable market reaction only being evidenced after the release of UK house price data. Market participants are now turning their attention to tomorrow’s main risk events, which have the capacity to generate significant volatility in the markets. Tomorrow has been dubbed as “Triple Threat Thursday” as three major risk events will dominate investors’ attention. Namely, Brits will be called in to vote in a national election, the European Central [..]
FX Daily Outlook | 07-06-17
Posted on June 7, 2017 at 8:32 am GMT[..]
Technical Analysis – GBPUSD in consolidation around 1.29; uptrend from March intact
Posted on June 7, 2017 at 8:10 am GMTGBPUSD remains neutral in the near-term while maintaining a medium-term bullish market structure. The pair has been pivoting around the key 1.2900 level while trading in a range since mid-April between 1.2755 and 1.3045. The market is waiting for a catalyst for the next sustained directional move. Upside momentum could challenge the May 18 high of 1.3046. A break above this resistance level would trigger a move towards 1.3450, close to the top of a previous range (from July to [..]
Forex Market Review (Asian Session) – Aussie jumps on GDP; gold at 1-month high ahead of risk events
Posted on June 7, 2017 at 7:23 am GMTThe Australian dollar rallied on upbeat GDP data while the greenback steadied after sharp declines this week. Upcoming key risk events tomorrow dampened risk appetite in the markets as investors were cautious ahead of the UK elections, the European Central Bank meeting, and the testimony to a Senate committee by former FBI Director James Comey. This helped support gold near seven-month highs. The aussie was one of the best performing major currencies against the US dollar in the Asian session [..]
Forex Market Review (European Session) – Political uncertainty drives gold to 7-week high; Dollar extends losses
Posted on June 6, 2017 at 3:00 pm GMTUncertainty ahead of the UK general election and Comey’s testimony in the US Congress on Thursday drove gold to a 7-week high in European trading today, while the US dollar made fresh lows. The greenback has been under pressure since Friday when a disappointing non-farm payrolls report dampened expectations of a third rate hike by the Fed this year, although markets are still pricing a rate increase at next week’s FOMC meeting. However, worries of an escalating political fallout in [..]
FX Daily Outlook | 06-06-17
Posted on June 6, 2017 at 8:29 am GMT[..]
Forex Market Review (Asian Session) – Dollar extends decline; aussie rallies after RBA; oil under pressure
Posted on June 6, 2017 at 7:16 am GMTThe dollar was broadly weaker and the yen gained on safe haven demand. The aussie rallied after the RBA meeting. Oil remained under pressure. The Reserve Bank of Australia announced its decision to hold its benchmark interest rate steady at 1.5% and said that its unchanged policy was consistent with sustainable growth and hitting its inflation target. The markets took comfort from the RBA statement and this helped the aussie erase earlier losses to reach a session high of $0.7495. [..]
Forex Market Review (European Session) – Sterling boosted by election poll; gold hits 6-week high
Posted on June 5, 2017 at 3:10 pm GMTThe dollar was mixed against its major counterparts. The euro slipped and the pound rallied despite soft UK data. Oil prices erased earlier gains while gold hit a six-week high. The pound rose to its highest level against the dollar in over a week after an election poll showed the Torie’s lead was back in double digits. The ICM poll showed an eleven-point lead for Prime Minister Theresa May’s Conservative Party over the opposition Labour Party just days before the [..]
