This week starts slow as we have UK and US away on Holidays and the initial moves suggest we will need to wait till Tuesday for action. That being said the lack of reaction to negative Trump headlines and N.Korea testing another ballistic missile over the weekend suggests the… 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
May 23, 2017A reported terrorist attack at a concert in Manchester UK has killed 19 and caused some flight to safety moves in late US/early Asian session this morning. This has strengthened the Yen seeing USD/JPY reverse yesterday’s gains, currently sitting at the 111.00 handle. Gold also receiving a bounce, up $10… read more
Daily Outlook
May 19, 2017Overnight US Equities and USD/JPY reversed some of the year’s biggest sell offs. With Trumps infrastructure spending, tax cuts and red tape reduction at risk market volatility has picked up. Last news out of trump says he “did not ask FBI director Comey to end Flynn investigation”. Likely this news… read more
Daily Outlook
May 18, 20174.5K and 5.7% estimates convincingly with 37.4K employment and 5.7% unemployment rate respectively. Given last month’s 60K figure, concerns over the reliability of this ABS data have been raised again. The AUD/USD saw a 60pip rally which has been supported throughout the day. Consolidation in the ASX200 and US Equity… read more
Daily Outlook
May 16, 2017Story circulating about President Trump revealing classified information via the Washington Post. “President Trump revealed highly classified information to the Russian foreign minister and ambassador in a White House meeting last week, according to current and former U.S. officials.” Potential to gain traction and weight on stocks, dollar index. Yesterday,… read more
Daily Outlook
May 15, 2017US CPI figures rebounded in April, although the y/y rates came in 0.1%pts below expectations, at 2.2% y/y and 1.9% respectively. Core inflation dropped below 2.0% for the first time since October 2015. US June rate hike odds slip closer to 70% from 8-in-10 earlier in week, odds for second… read more
Daily Outlook
May 12, 2017Lower than expected Manufacturing Production figures out of UK put pressure on the GBP/USD leading into the Bank of England’s rate announcement at 9:00pm. Pound was trading 1.2937 on the London cash open, hitting a low of 1.2849 after the BOEs comments. BOE leaves rates on hold at 0.25% overnight…. read more
Daily Outlook
May 11, 2017New Zealand’s Reserve Bank left the cash rate on hold at 1.75% this morning, citing concerns over low core inflation and recent GDP growth. Monetary policy will remain accommodative for a considerable period according to the statement. In his press conference an hour late he stated “We don’t hold the… read more
Daily Outlook
May 10, 2017North Korea’s ambassador to the UK confirmed another nuclear test to be carried out. And described potential attacks from the US. “If the US attack us, our military and people are fully ready to respond to any kind of attack.” He said a pre-emptive strike on his country would not… read more
Daily Outlook
May 9, 2017After Macrons win on Sunday evening, the EUR/USD has retreated from highs of 1.1023 to lows of 1.0916 overnight. A 50% retracement of the past months 450 pip rally would see the pair touch the 1.08 level. With a strong Non-Farms job number, some positive momentum behind Trumps Healthcare reforms,… read more
