FX Daily Outlook | 24-03-17
Posted on March 24, 2017 at 10:11 am GMT[..]
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Asian Session – Dollar edges up above 111 yen ahead of healthcare vote in US House
Posted on March 24, 2017 at 8:06 am GMTThe dollar was slightly higher in Friday’s Asian session, halting a nine-day slide against the yen, as US Treasury yields rose. Markets received some clarity on the US House of Representatives vote on the new healthcare bill that would repeal and replace Obamacare. The vote that was due on Thursday was postponed for Friday. Earlier in the week, the dollar came under pressure and US stock markets tumbled over concerns that President Trump won’t be able to get the bill [..]
European Session – Dollar drifts lower ahead of US healthcare vote but pound up on strong retail sales
Posted on March 23, 2017 at 3:40 pm GMTThere was no reprieve for the US dollar today as the greenback continued to face steep selling pressure on growing doubts about the Trump administration’s ability to push through key legislation in Congress ahead of today’s vote on repealing Obamacare. The dollar was once again testing 111 yen in European trading, while the pound had another strong session, reclaiming the 1.25 level against the dollar after stronger-than-expected UK retail sales data. The debate in the US House of Representatives on [..]
Forex News – Sterling jumps as UK February retail sales data show strong growth
Posted on March 23, 2017 at 12:01 pm GMTUK retail sales rose in February by 1.4% month-on-month, beating expectations of a 0.4% increase, reversing January’s revised 0.5% drop. February’s rise comes after two straight months of declines in December and January. On a year-on-year basis, sales rose 3.7% in February, up from January’s 1.1% increase. Sterling jumped after the data to briefly hit a fresh one-month high against the dollar at $1.2526 as the February retail sales figure showed fairly strong growth. The pound’s gains were limited as [..]
FX Daily Outlook | 23-03-17
Posted on March 23, 2017 at 10:13 am GMT[..]
Asian Session – Dollar pauses slide against yen; focus turns to US House vote on healthcare
Posted on March 23, 2017 at 8:45 am GMTThe risk aversion in markets dissipated today and demand for safe havens eased. This helped the dollar make some recovery against the yen, while gold paused its six-day rally. The dollar moved off four-month lows hit against the yen yesterday at 110.72 on investor concerns over US President Trump’s ability to push through his policies on growth and tax reforms. The greenback last traded around 111.20 yen in late Asian session but focus will remain on the currency today as [..]
European Session – Majors hit fresh highs against the dollar; Oil plunges on rising stockpiles
Posted on March 22, 2017 at 3:55 pm GMTIn the absence of significant data releases, barring existing home sales out of the US and oil inventory data from the Energy Information Administration, investors mainly focused on political developments and speculative views on potential moves by numerous central banks to place their positions during today’s European session trading. Looking at the dollar index, a gauge of the US currency’s strength relative to major counterparts, it recorded a seven-week low today, reaching 99.56. This was on the back of market [..]
FX Daily Outlook | 22-03-17
Posted on March 22, 2017 at 9:38 am GMT[..]
Asian Session – Dollar slides as investors fear delay in Trump fiscal plans
Posted on March 22, 2017 at 8:39 am GMTRisk aversion in the markets led to safe haven demand, helping the yen strengthen and the dollar index fall below 100. Sterling was one of the best performing major currencies after UK inflation rose to the highest in over three years. The dollar fell to its lowest level since November 23 against the yen, reaching 111.25 in the Asian session. The dollar index, which gauges the greenback against a basket of six major currencies, slid to 99.72, trading below 100 for [..]
Technical Analysis – GBPUSD bullish; Records one-month high
Posted on March 22, 2017 at 8:12 am GMTGBPUSD extended yesterday’s high for a new one-month high and is currently up for the day, though only marginally. The RSI is bullish at 60 while the MACD histogram is positive and above the red signal line. All these point to a bullish short-term bias. The area around 1.25 has been a congested one in the recent past and could act as resistance to upside movements in price. A move above this area would shift the focus to the February [..]
