FX Daily Outlook | 22-06-17
Posted on June 22, 2017 at 9:13 am GMT[..]
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Forex Market Review (Asian Session) – Kiwi lifted by positive RBNZ growth outlook; oil prices deteriorate on supply glut concerns
Posted on June 22, 2017 at 7:27 am GMTThe New Zealand dollar jumped after the Reserve Bank of New Zealand said the country’s growth outlook remained positive. Sterling held onto gains after the hawkish comments from Bank of England’s Andrew Haldane. Oil prices hovered near 10-month lows on over-supply concerns. The RBNZ held a policy meeting today and announced its decision to keep its benchmark interest rate at the record low of 1.75%. The central bank maintained its neutral policy stance and had an overall positive tone. It [..]
Forex Market Review (European Session) – Sterling bounces up on BoE Haldane’s comments; dollar flat; WTI oil gains on EIA
Posted on June 21, 2017 at 3:08 pm GMTIn another relatively quiet European session in terms of economic releases and in similar fashion to yesterday, forex market participants mainly reacted to comments by central banking figures, namely the hawkish remarks by a Bank of England policymaker which helped the pound bounce higher. In terms of the few releases during the day, those that attracted most attention were existing home sales data and the Energy Information Administration’s weekly report on crude stockpiles out of the US. Sterling received a [..]
Forex News – Oil back in bear market after latest sell-off; Commodity currencies fall only modestly
Posted on June 21, 2017 at 10:53 am GMTCrude oil prices fell by 2% on Tuesday as investors continued to fret about the lingering oversupply, which is showing no sign of easing despite 6 months of output restrictions by major producers. The recovery in prices from the 2014-15 downtrend stalled in January when they peaked at 1½-year highs. WTI crude has since fallen by 22% from $55.24 on January 3 to a 7-month low of $42.75 a barrel yesterday. Brent crude is also down sharply, declining from $58.37 [..]
FX Daily Outlook | 21-06-17
Posted on June 21, 2017 at 8:05 am GMT[..]
Forex Market Review (Asian Session) – Oil remains close to 7-month lows; dollar little changed
Posted on June 21, 2017 at 7:35 am GMTAs Asian markets are completing their trading day, the dollar index has eased from yesterday’s one-month high but is still close to that level. In the meantime, WTI and Brent crude didn’t manage to post a rebound after yesterday’s sizable losses. The dollar index, a broader gauge of the greenback’s strength, remains close but below yesterday’s one-month high of 97.87. The greenback was recently supported by key Fed officials communicating that rate normalization should remain on track. Dollar/yen didn’t manage [..]
Week Ahead – Brexit talks begin; RBNZ in focus; PMI data on tap; Fed speakers to be closely scrutinized
Posted on June 16, 2017 at 2:20 pm GMTBrexit negotiations finally begin in Brussels on Monday. New Zealand’s central bank will be in focus next week while flash June PMI surveys out of the Japan, the Eurozone and the United States will also be on investor’s watch list. Various FOMC members are due to give speeches. French President Emmanuel Macron’s Republic on the Move (REM) party is set to win Sunday’s legislative elections. Brexit Negotiations Brexit negotiations are due to start on Monday June 19 with Brexit Secretary David Davis [..]
Forex Market Review (European Session) – Euro hits 7-month high against dollar after weak US CPI and retail sales ahead of FOMC; sterling reverses post-UK jobs data losses
Posted on June 14, 2017 at 2:57 pm GMTThe dollar fell after the release of a weak set of US data that would be disappointing for the Federal Reserve, which is expected to deliver a 25-basis point rate hike later today. The broadly weaker greenback helped sterling erase losses made from weak UK wage data. Both US CPI and retail sales numbers for May came in short of expectations, which resulted in the dollar index falling to a seven-month low of 96.32 after having risen to as high [..]
Forex Market Review (European Session) – Loonie extends gains after Poloz echoes Wilkins’ hawkish comments; pound gains on above expectations UK CPI
Posted on June 13, 2017 at 2:40 pm GMTThe Canadian dollar made strong gains after two Bank of Canada officials’ hawkish comments suggested a rate rise was nearer. Sterling was higher on forecast-beating UK inflation data. The dollar index was lower as the FOMC begins a two-day policy meeting. The main data out of the European session was the UK CPI report which helped the pound recover some losses made following Thursday’s post-UK elections tumble. However, sterling’s gains may be limited due to political risks as Prime Minister [..]
Technical Analysis – USDCAD bearish after breaking below 200-day moving average
Posted on June 13, 2017 at 8:45 am GMTUSDCAD has turned bearish after breaking below the 200-day moving average today, reaching a 2-month low of 1.3256. RSI is falling and suggests a further possibility of a deeper decline with scope to target the April 13 low of 1.3222. The market was trading in a range since May 25 until this week, between 1.3400 and 1.3546. But a failure to make a sustained break above the 50-day moving average led to weakness in upside momentum, with prices eventually giving [..]
