FX Daily Outlook | 01-02-17
Posted on February 1, 2017 at 10:43 am GMT[..]
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Technical Analysis – Gold remains bullish following a 1.3% gain
Posted on February 1, 2017 at 9:05 am GMTGold rallied yesterday closing the day 1.3% higher. In today’s trading so far it fell slightly below yesterday’s close. The RSI indicator is above the 50 threshold at 59, indicating a short-term bullish sentiment. Adding to this conviction are the stochastics as the %K line is also in bullish territory, while it has recently crossed above the slow %D line. On the upside, the 38.2% Fibonacci retracement (of the July 11 to December 15 downleg) at 1218.73 is likely to [..]
European Session – Dollar sinks on Trump’s currency comments; Euro surges to 7-week high
Posted on January 31, 2017 at 4:13 pm GMTEurozone economic data dominated financial news as flash inflation figures for January, the unemployment rate for December and preliminary estimates for fourth quarter GDP were all released today. Delving into the numbers, headline inflation for January came in at 1.8% year-on-year, above the 1.6% expected and December’s 1.1%. This figure was the highest since February 2013. Core inflation, the figure excluding volatile food and energy prices, was in line with expectations and stable relative to the previous month’s 0.9% y/y [..]
European Session – Resurgent yen pushes dollar below 114; euro and pound also under pressure
Posted on January 30, 2017 at 4:22 pm GMTMarket sentiment remained risk-off in Monday’s European session as US President Trump’s actions continued to worry investors. The President’s decision on Friday to ban refugees from entering the US and to impose travel restrictions on seven Muslim-majority nations triggered a political backlash both in the US and internationally. It also raised expectations that Trump would follow through with his other campaign pledges, and given his views on China, this raised the prospect of a new trade war. The concerns weighed [..]
European session – Dollar extends rebound despite US GDP miss
Posted on January 27, 2017 at 4:53 pm GMTThe US dollar made an effort to extend its comeback today as the markets seemed to be shifting focus from Trump’s protectionist messages to his pro-growth policies. Weaker-than-expected GDP growth pulled back the dollar from earlier gains, though this pull back does not seem enough for now to lead the dollar index to levels below yesterday’s close. US GDP grew at an annualized rate of 1.9% during the fourth quarter of 2016 per advance estimates. Expectations were for a 2.2% [..]
European Session – Dollar bounces back on higher treasury yields, pushing euro and pound lower
Posted on January 26, 2017 at 4:28 pm GMTThe positive sentiment from the Dow Jones’ record break above the 20,000 level carried forward to Thursday’s European session, though risk appetite ebbed slightly in afternoon trading. European equities were mixed in late session, while 10-year US treasury yields rallied to a 4-week high. The higher yields spurred the US dollar to finally break out of the past day’s tight trading range, helping it climb above 114 yen. Investor concerns about Donald Trump’s policies on trade and immigration have been [..]
FX Daily Outlook | 26-01-17
Posted on January 26, 2017 at 10:23 am GMT[..]
European session – Sterling up after May agrees Brexit white paper; Dollar hits 7-week low
Posted on January 25, 2017 at 3:55 pm GMTUK Prime Minister Theresa May said on Wednesday that she plans on producing a policy document (a so called ‘white paper’) for parliament outlining her proposals on how the Brexit process should take place. The news helped push sterling higher as it hit a near 6-week high against the dollar and a near 3-week high against the euro. In afternoon European session GBP / USD was last at 1.2563 (up 0.34%) and EUR / GBP at 0.8535 (down four-tenths of a [..]
European Session – Dollar steadies near 1½-month lows as Trump angst continues to worry markets
Posted on January 23, 2017 at 3:33 pm GMTInvestor anxiety over Donald Trump’s policies continued to dampen market sentiment in European trading on Monday as the US dollar languished near 6½-week lows against a basket of currencies. The dollar index hit the lowest since December 8, touching 100.21, before recovering slightly to around 100.45 in late European session. Against the yen, the greenback hovered around 113.50 after dropping as low as 113.16 in the Asian session, while the euro eased slightly from 1½-month highs of 1.0754 dollars. The [..]
FX Daily Outlook | 23-01-17
Posted on January 23, 2017 at 10:08 am GMT[..]
