UK 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
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 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
Bullet Report
June 17, 2016Brexit referendum continues to be the main focus however campaigns for and against it are suspended for the second day after the killing of a Member of Parliament yesterday. Stock markets were slightly better yesterday after days of losses as the probability of a Brexit has been reduced to 38%… read more
Markets Crash & Gold flies (and its far from over)
June 16, 2016Volatility has hit the highest level in years as 4 Central Banks are set to deliver their key messages in 4 hours. Yesterday’s Fed rate decision to keep rates the same was not a surprise, neither were the pessimistic comments from FED chairwoman. However the BoJ did disappoint the market,… read more
Bullet Report
June 16, 2016Volatility has hit the highest level in years as 4 Central Banks are set to deliver their key messages in 4 hours. Yesterday’s Fed rate decision to keep rates the same was not a surprise, neither were the pessimistic comments from FED chairwoman. However the BoJ did disappoint the market,… read more
Bullet Report
June 15, 2016Today’s attention shifts from Brexit to the FOMC. Although there is practically no chance for a rate hike today, market participants will focus on the press conference in order to gauge FED Chairwoman Yellen’s hints as to the timing of future rate hikes. Overnight, risk appetite improved and most Stock… read more
Daily Outlook
June 14, 2016Risk off trade on the back of growing Brexit risks saw global stock markets fall overnight. US S&P fell -0.8% at 2079 and Eurostoxx 50 ended down -1.98% at 2853. Australian markets were closed for Queens birthday but futures indicate a fall of over 2% at the open. AUD/USD was… read more
Daily Outlook
June 13, 2016Sterling plunges to 2 months low level as “Brexit” fears is rising. An ORB/Guardian “Brexit” Poll showed that 55% of participants wanted to leave, the result of the poll has sent Sterling tumbling on Friday. Currencies: USDJPY dips through last week’s low of 106.24 and could be heading to 105.54 low… read more
Daily Outlook
June 10, 2016AUD/USD has eased back from 0.7500 overnight in sympathy with weak Global Stock markets. Selling has extended to 0.7410 this morning as the ASX200 has fallen over 1%. Large support is seen at 0.7380 and the fundamental change in the USD outlook and the looming FOMC event next Wednesday… read more
Daily Outlook
June 9, 2016NZD/USD has broken back above 0.7000 this morning and surged to 12 month highs above 0.7120 as the RBNZ disappointed the Doves and sounded upbeat on the New Zealand Economy. Although they noted the NZD strength did impact inflation which is stubbornly low they noted further rate cut would over… read more
