FX Daily Outlook | 28-12-16
Posted on December 28, 2016 at 11:05 am GMT[..]
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Asian Session – Aussie and kiwi attempt a rebound as dollar stands firm after strong US data
Posted on December 28, 2016 at 9:25 am GMTThe US dollar continued to inch higher on Wednesday as strong consumer confidence data added support to the greenback in thin holiday trading, while most pairs were stuck in tight ranges ahead of the New Year holiday. Consumer confidence in the United States rose to a 15-year high in December according to the Conference Board’s survey released yesterday. The dollar was up slightly at 117.58 yen in late Asian session, which is just under 1% below its 10-month high of [..]
European Session – Dollar nudges upwards in holiday lull; Gold and oil also up
Posted on December 27, 2016 at 4:34 pm GMTMajor currencies were largely steady in today’s European session as volumes remained low despite most markets reopening after the Christmas break. Key markets such as London, Sydney and Hong Kong stayed closed on Tuesday, explaining the absence of many traders. The US dollar was the main gainer in European trading, though gold and oil also stood out. The greenback hit a session high of 117.61 yen, recovering from yesterday’s brief dip below the 117 level. The US currency got a [..]
FX Daily Outlook | 27-12-16
Posted on December 27, 2016 at 12:05 pm GMT[..]
Asian Session – Dollar firmer as weak Japanese data weighs on yen
Posted on December 27, 2016 at 8:46 am GMTThe US dollar edged higher in Tuesday’s Asian session as volumes remained thin in the last trading week of the year. With the London market still closed today due to the Christmas bank holiday, it’s expected to be another quiet day. However, bargain hunting lifted the dollar higher versus the yen in Asian trading, helping it move away from one-week lows touched yesterday. The greenback lost some momentum last week following worse-than-expected personal income and consumption data for November out [..]
Technical Analysis – Gold bearish in downward channel
Posted on December 23, 2016 at 8:52 am GMTGold maintains a bearish market structure. After a drastic sell-off on November 10, prices fell below the 200-day moving average, giving a bearish signal. Gold has been falling in a downward channel ever since the occurrence of a bearish crossover of the 50-day moving average with the 200-day moving average on November 18. Prices reached the lowest level in 10 months on December 15 to touch 1122.66. Since then, the market has been consolidating as the RSI indicator entered oversold [..]
FX Daily Outlook| 21-12-16
Posted on December 21, 2016 at 9:59 am GMT[..]
FX Daily Outlook| 14-12-16
Posted on December 14, 2016 at 9:10 am GMT[..]
Technical Analysis – Gold in downtrend after bearish crossover of moving averages
Posted on December 14, 2016 at 8:47 am GMTGold maintains a bearish market structure. Prices have reached oversold territory and this is indicated by the daily RSI which is below the 30 threshold. The momentum indicator at such levels suggests that the market will consolidate or even bounce in the near term. Immediate support lies at 1151.21, which was the low on December 12 and the lowest in 10 months. Any upside moves will find resistance at the 1166 area which was previously support. A move higher from [..]
European Session – Euro in sharp reversal as Italy vote shock dissipates; Sterling at 2-month high as Brexit hearing gets underway
Posted on December 5, 2016 at 3:58 pm GMTThe euro made a dramatic turnaround after slumping to its lowest since March 2015 earlier in the day as markets reacted to the expected ‘No’ vote in Italy’s referendum on constitutional reforms. However, market calm was soon restored with both the single currency and European stocks heading higher, while sterling climbed back towards 2-month highs even as the UK Supreme Court started deliberating on the Brexit hearing. Fears that the Italian voters’ rejection of changes to the country’s constitution would [..]
