GBP/USD stabilized above 1.2000 yesterday as the market now waits for actual detail from the UK PM Speech Later today in the European Session. The outlook is negative if she continues with the combative rhetoric that has emerged from her government in recent days. USD/JPY also stabilized after heavy GBP/JPY… 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
January 16, 2017GBP/USD opened up 200 pips lower as news emerged over the weekend that UK PM was likely to steer the UK out of the EU single market and gain full access over its borders and trade deals. This amounts to what is called a “hard Brexit” and will create the… read more
Daily Outlook
January 12, 2017President-elect Donald Trump first press conference saw the U.S. dollar fall in volatile trading last night as traders were still left waiting on details on the Republican’s policy plans. Traders had hoped that Trump would discuss his plans on tax reform, reducing regulation and his stimulus plans to improve the economy…. read more
Daily Outlook
January 11, 2017Last night the pound dropped to its lowest level against the greenback over concerns that the U.K. is set to exit from the European Union by prioritizing immigration concerns over single-market membership. The pound touched its lowest level since Oct. 25 before rebounding to trade little changed at 1.2174 per dollar…. read more
Daily Outlook
January 10, 2017The pound collapsed against all major currencies last night after U.K. Prime Minister Theresa May talked of the sort of definitive break from the European Union that many traders believe will cause Britain to lose access to its major trading partner, the European Union. Sterling fell 1.22% to $1.21 against the greenback, not… read more
Daily Outlook
January 9, 2017The dollar rose on Friday after the December U.S. jobs report showed the strongest wage growth since 2009 but a slowdown in hiring. The euro dropped 0.7 percent against the greenback to $1.0534 and the pound retreated 1.1 percent to $1.2288. Traders expect that steady wage growth will help to… read more
Daily Outlook
January 6, 2017The greenbacks two month rally against the yen came to an abrupt end on Thursday as the currency fell 1.5% to 115.49. Despite a better than expected decline in jobless claims and an uptick in services data, the decline was fueled by improving economic data from China and Europe juxtaposed with U.S. figures that… read more
Daily Outlook
January 5, 2017The dollar remained under pressure last night, after minutes from the Federal Reserve’s December meeting showed that Fed members were uncertain about what effect the incoming Trump administration would have on the U.S. economy. Having reached peaks not seen since 2002, the Greenback saw profit taking and selling pressure as Fed… read more
Daily Outlook
January 4, 2017Strong Global PMI’s pointed to bullish start to 2017 but stocks were caught a little stretched and we saw reversals in US session. US December Manufacturing PMI was strong at 54.7 vs. 53.2 previously. US 10yr Yields failed at 2.5% and this sent USD/JPY sharply lower with stocks after an… read more
Daily Outlook
January 3, 20172017 started off on the same foot as 2016 with Fresh highs in the German DAX on Monday and new highs in the Australia ASX on Tuesday as Traders come back from Holidays in a good mood. The USD remains King and has push the EUR/USD back below 1.0500 and… read more
