BOE Carney Promises Easing in Coming Months U.S. Dollar Trading (USD) the market has fully engaged in the rally with a third day impressive gains on the stock markets. The USD was able to gain however as the main catalyst for the further gains overnight was the promise of further… read more
Daily
The following is a summary of the previous day’s foreign exchange market movements in the major currencies and the commodities markets. It is meant as an informative guide to the reasons underlying currency and commodity movements seen in the previous day’s foreign exchange trading. Together with a market snapshot at close of the New York session, indicators/events released during the session are outlined compared with their expected level of influence before release. This fundamental analysis summary also highlights upcoming data/events which may influence currency movements upon their release.
You will also find a technical analysis snapshot at time of release, highlighting support and resistances of each of the major currencies and gold. Coupled together with the reasons behind these important levels, traders can expect some support or resistance when these levels are reached.
Daily Outlook
June 30, 2016FTSE has one of biggest 1 day rallies in History The Australian Dollar (AUD) was firmly on the front foot as both stocks and Oil rallied sharply. Resistance at 0.7400 gave way and we have grinded up to 0.7460 as we enter the Asian session Thursday. Topside is now firmly… read more
Market Open Brief 29th June 2016
June 29, 2016Relief Rally as Stocks and Oil bounce U.S. Dollar Trading (USD) the extreme negativity seen on Monday subsided in the Asian session Tuesday as the Nikkei rallied sharply off 15000 to close near 15400. The positive sentiment spilled over into the European and US sessions with profit takers and bargain… read more
Daily Outlook
June 28, 2016GBP/USD falls further to fresh Brexit lows, UK loses AAA Rating U.S. Dollar Trading (USD) was in demand Monday with global stock markets taking another leg lower with little respite so far post Brexit. The downside should slow down now as GBP/USD gets closer to 1.3000 which was seen as… read more
Market Open Brief 27th June 2016
June 27, 2016Brexit fallout continues Monday, GBP/USD opens under 1.3500 U.S. Dollar Trading (USD) gained across the board on safe haven demand with the notable exceptions of Gold and Yen. Any question of whether EUR/USD would fall in sympathy with the GBP is now clear as EUR/USD broke below 1.1000 Friday and… read more
Daily Outlook
June 24, 2016UK is likely to remain in the EU, with latest polls and result indicating Vote to Remain has an edge. Results will come in steps throughout the day. Brexit is still possible, with SkyNews reporting Sunderland voted to leave, with extent of win much more than expected. In a low… read more
How Long Could Brexit Take to Implement?
June 23, 2016British Prime Minister David Cameron recently described the upcoming referendum on European Union (EU) membership as “bigger than the general election.” For the first time ever, Mr. Cameron’s Vote Remain campaign appears to be losing ground in the referendum debate, with the likes of Boris Johnson and Michael Gove on… read more
Daily Outlook
June 22, 2016WTI Crude Oil is back above $50 mark this morning. American Petroleum Institute (API, private institution) Crude Oil Inventory reported -5.2m barrel draw, the most in six months, above expectation of -1.7m. Crude Oil has had a rollercoaster price action, after initially breaking 50 early in June and rallying to… read more
Daily Outlook
June 21, 2016UK referendum was the focus on Monday with GBP driving intraday risk sentiment. GBPUSD rallied 2.2% to 1.4718 high in biggest one day gain for seven years. The latest polls shown Bremain gaining momentum, with MP Jo Cox murder acted as catalyst with further warnings from Bank of English and… read more
Daily Outlook
June 20, 2016Risk sentiment trades lifted on Monday morning as Bremain gains momentum over the weekend. The British Pound against Japanese Yen GBPJPY, the barometer for Brexit risk, is up 1.3%, with other risk proxies the Australian Dollar up 0.55% to 0.7435 and equities futures all gapped higher. UK referendum will… read more
