FX Daily Outlook | 09-03-17
Posted on March 9, 2017 at 10:09 am GMT[..]
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Asian Session – Dollar continues its climb as odds of hike rise above 90%
Posted on March 9, 2017 at 8:25 am GMTThe dollar continued rising after yesterday’s strong ADP National Employment Report, which showed robust growth in private-sector payrolls. A rate hike during next week’s FOMC meeting is now considered near-certain as the odds of one materializing now exceed 90% based on CME Group’s 30-Day Fed Fund futures prices. It is now unlikely that tomorrow’s US employment report will be weak enough to sway the Fed away from a rate hike. The dollar index continued to advance and should it finish [..]
European Session – Dollar surges on strong ADP jobs data; Pound steadies after UK budget
Posted on March 8, 2017 at 3:49 pm GMTExpectations about the pace of Fed rate hikes once again dominated European trading on Wednesday after robust US data underlined the case for near-term monetary tightening. The US dollar surged well past 114 yen on the data, while the British pound was able to find some support from the UK government’s first full budget after Brexit. After a slow start to the day, the dollar reversed gear to become the strongest performing currency by late European session. The greenback was [..]
European Session – Dollar advances despite worsening trade gap
Posted on March 7, 2017 at 4:13 pm GMTThe dollar was broadly stronger today relative to major counterparts though, with the exception of pound / dollar, its gains were moderate and evenly spread. US and Canadian trade data, as well as Eurozone GDP numbers were on investors’ radar today. US trade data for January showed that the trade deficit rose to a near five-year high as increasing oil prices lifted the import bill for the US. This hints that net exports, a component in the calculation of GDP, would [..]
FX Daily Outlook | 07-03-17
Posted on March 7, 2017 at 9:05 am GMT[..]
Asian Session – Aussie rises after RBA; greenback steady as markets eye risk events
Posted on March 7, 2017 at 8:23 am GMTIt was a relatively quiet Asian session with most currencies trading in a range as investors were cautious ahead of upcoming risk events such as this week’s US jobs report and the March 14-15 Federal Reserve policy meeting, while political uncertainties in Europe also led to a lackluster session. The Australian dollar was the best performing major currency after the Reserve Bank of Australia held interest rates steady and maintained an optimistic view on the economy. The main cash rate [..]
European Session – Euro hurt by never ending French presidential drama; US jobs report to cement rate hike
Posted on March 6, 2017 at 3:50 pm GMTIn the absence of economic data releases, barring the Eurozone Sentix investor confidence index and factory orders out of the US, market participants’ attention remained on geopolitical tensions and on the last piece of the puzzle to cement an interest rate hike during the FOMC meeting scheduled to take place next week, namely Friday’s nonfarm payrolls report. The dollar index, which tracks the greenback’s performance against the currencies of six major trading partners, was back up today after experiencing a [..]
Technical Analysis – Gold’s more than 2-month rally capped by 200-day moving average
Posted on March 6, 2017 at 2:59 pm GMTGold was bullish since mid-December and was rising in an upward channel to reach a high of 1263.74. The 200-day moving average proved to be a key resistance level and capped any further upside moves. Prices have now broken out of the channel after having pulled back from the February 27 high of 1263.74. The market had reached overbought conditions, as indicated by the RSI which reached 70. Prices rebounded sharply from a dip to 1222.76 on Friday and are [..]
FX Daily Outlook | 06-03-17
Posted on March 6, 2017 at 9:14 am GMT[..]
Asian Session – Yen strengthens on safe haven demand
Posted on March 6, 2017 at 8:37 am GMTRisk aversion due to geopolitical concerns weighed on markets during Monday’s Asian session. The yen was stronger as investors moved into safe havens following news of a North Korean missile launch. The dollar slipped against the yen in Asian session trading to reach a low of 113.65, moving further off last week’s high of 114.74 when then greenback was boosted on growing expectations of an interest rate hike by the Federal Reserve this month. The dollar index was down 0.1 [..]
