FX Daily Outlook | 22-05-17
Posted on May 22, 2017 at 8:48 am GMT[..]
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Forex Market Review (Asian Session) – Oil extends gains ahead of OPEC meeting; Sterling below $1.30
Posted on May 22, 2017 at 7:38 am GMTMarkets were off to a calmer start this week after some recent volatility. Risk sentiment improved and the yen was steady despite news that North Korea conducted another missile test over the weekend. In terms of economic data released during the Asian session, Japan’s trade balance came to a surplus of 481.7 billion yen in April compared to an expected surplus of 521 billion yen and lower than the March’s 614.7 billion. Moves in the dollar / yen pair mostly [..]
Week Ahead – Eurozone PMIs, US and UK GDP, and Japanese inflation to be main highlights; OPEC and G7 meetings also eyed
Posted on May 19, 2017 at 3:24 pm GMTThe coming week is looking to be a relatively quiet one with only a handful of major data releases to keep traders occupied. Inflation data out of Japan and the flash PMI readings for the Eurozone will be the main highlights, while the second estimates of first quarter growth for the UK and the US will be watched too. In terms of central banks, the Bank of Canada meets for its latest policy decision but FOMC minutes from the Fed [..]
Forex Market Review (European Session) – Dollar weighed by dovish Bullard and Trump controversies
Posted on May 19, 2017 at 2:51 pm GMTThe US dollar only saw temporary relief today and extended lower against a basket of currencies on the back of some dovish comments from St Louis Fed President James Bullard. Meanwhile, the ongoing political tumult in Washington D.C. continued to weigh on the greenback as well today. The dollar index was last down 2% on the week as it fell to its lowest level since Donald Trump’s election victory in November. The greenback’s decline began earlier in the week on [..]
FX Daily Outlook | 19-05-17
Posted on May 19, 2017 at 8:28 am GMT[..]
Forex Market Review (Asian Session) – Dollar set for weekly losses; oil at 3-week high
Posted on May 19, 2017 at 7:16 am GMTThe US dollar is on course to end the week lower against most major counterparts after coming under pressure from US political concerns amid controversy concerning President Donald Trump. Safe haven assets like the yen and gold had a strong week. With a light economic calendar in Asia, markets digested the events of the past few days. The greenback’s decline against the yen was cushioned by some upbeat US economic data on Thursday which showed weekly initial jobless claims fell [..]
Forex Market Review (European Session) – Sterling breaches $1.30 on strong UK retail sales; dollar steadies after US data
Posted on May 18, 2017 at 2:40 pm GMTSterling was one of the best performing major currencies, while the euro retreated from a fresh six-month high against the dollar. Oil prices moved lower and gold hit a new high for the month so far. The British pound rallied strongly against the dollar after a strong UK retail sales report today, which showed the biggest gain in sales since January 2016. Cable jumped above the key $1.30 level for the first time since September 2016 to hit $1.3046, while [..]
Forex News – Sterling breaks $1.30 after strong UK retail sales data
Posted on May 18, 2017 at 10:39 am GMTSterling rallied strongly against the dollar after a strong UK retail sales report today, which showed the biggest gain in sales since January 2016. Cable jumped above the key $1.30 level for the first time since September 2016 to hit $1.3046, while the euro fell against the pound to 85.23 pence. UK retail sales for April beat expectations to rise 2.3% month-on-month. This was more than double the 1.0% forecast and reversed the 1.4% decline in March when sales recorded [..]
FX Daily Outlook | 18-05-17
Posted on May 18, 2017 at 9:04 am GMT[..]
Technical Analysis – GBPUSD maintains bullish bias; needs daily close above 1.30
Posted on May 18, 2017 at 8:41 am GMTGBPUSD is neutral in the near term after the recent sharp rally from the 1.2600 area is taking a pause and the market is consolidating gains around 1.2900. The 1.300 level has proven to be strong resistance as prices failed to cross this barrier after coming close to it a few times this month. Upside momentum faded at the end of April to early May and RSI reached overbought territory at 70, suggesting that consolidation or a pullback was due. [..]
