FX Daily Outlook | 23-03-17
Posted on March 23, 2017 at 10:13 am GMT[..]
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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 [..]
European Session – Pound surges to 3-week high after UK inflation breaks BoE’s 2% target; Euro tests $1.08
Posted on March 21, 2017 at 3:01 pm GMTThe British pound was the best performing major currency in Tuesday’s European session as it was lifted from stronger-than-expected inflation data out of the UK. The euro was another star performer as it benefited from positive developments in the French presidential campaign, while the US dollar continued to drift lower. Annual inflation in the UK jumped to 2.3% in February, beating estimates of a milder increase to 2.1% from January’s 1.8%. This takes the headline rate to the highest since [..]
FX Daily Outlook | 21-03-17
Posted on March 21, 2017 at 9:40 am GMT[..]
Asian Session – Euro rallies after French debate; dollar under pressure after Fed speakers
Posted on March 21, 2017 at 8:30 am GMTThe dollar remained soft in Asian trading today as it came under pressure from falling US Treasury yields following not-so-hawkish speeches by Fed officials on Monday. Chicago Fed President Charles Evans diminished hopes for a faster pace of rate hikes after he reiterated the Fed’s message from last week’s FOMC meeting that the pace of interest rate increases will be gradual and the projections were for a total of three hikes this year. Meanwhile, Minneapolis Fed President Neel Kashkari, who [..]
Technical Analysis – Gold neutral outlook, records two-week high during yesterday’s trading
Posted on March 21, 2017 at 8:11 am GMTGold’s recent rally from sub-1200 levels to a 2-week high of 1235 on Monday took a pause today. It’s experiencing a correction after upside momentum lost steam, as indicated by the RSI which turned back down. The RSI indicator is at 53, a level close to the 50 neutral threshold. It is currently trending towards 50. On the upside, yesterday’s high of 1235.38 could offer some resistance. If the price continues advancing, the current level of the 200-day moving average [..]
European Session – Pound slips on announcement of date to trigger Article 50
Posted on March 20, 2017 at 3:57 pm GMTThe US dollar index made some recovery during the European session after dipping to a six-week low of 100.02 in the Asian session. The antipodeans outperformed the greenback while the loonie was weaker today due to lower oil prices in the wake of the Baker Hughes oil rig count. The pound fell sharply on news of the Article 50 trigger date. In a relatively quiet day in terms of economic data releases, the main news of the day was the [..]
FX Daily Outlook | 20-03-17
Posted on March 20, 2017 at 9:37 am GMT[..]
