EURUSD: Having EUR closed lower the past week we expect more weakness to follow. But this comes with a warning that as long as it trades and holds above the 1.1086 level, we may see it headed higher in the new week. Support lies at the 1.1150 level where a violation will aim at the … “EURUSD: Maintains Broader Downside Bias With Eyes On 1.1086”
Month: September 2015
*Trade Update* USDSGD: Price Action Buy Signals @ Major
Last week the fed ‘played their hand’, and decided not to raise interest rates in the US. It was this year’s highly anticipated news that forced the market to remain in consolidation holding patterns until the decision was announced, so investors knew where they stood. Initially the USD weakened off the back off the release, but quickly started to show … “*Trade Update* USDSGD: Price Action Buy Signals @ Major”
EUR/USD to 1.05 by year end – Deutsche Bank
EUR/USD experienced a roller coaster week, eventually closing lower despite not so dovish words from Draghi. This could continue, says the team at Deutsche Bank, citing the specific source of weakness: Here is their view, courtesy of eFXnews: “EUR/USD has strengthened over the summer despite the large dollar rally. This reveals a significant shift in … “EUR/USD to 1.05 by year end – Deutsche Bank”
Dollar Ends Week Strong, Outlook Clouded
The US dollar was strong across the board this week with the help of comments for the head of the Federal Reserve. Still, the outlook for the currency is not clear as market participants continue to speculate whether US policy makers are bold enough to start monetary firming in 2015. At the start of the week, the Forex market was still digesting last week’s policy announcement from the Fed, which suggested that the central bank may delay … “Dollar Ends Week Strong, Outlook Clouded”
USDCHF Retains Bullish Offensive But With Caution
USDCHF: The pair followed through higher the past week on the back of its previous week long-tailed candle formation. This keeps the immediate outlook higher. However, its immediate challenge is to break and hold above the 0.9823 level. That level was rejected at the end of the week suggesting more price hesitation or even a … “USDCHF Retains Bullish Offensive But With Caution”
Canadian Dollar Ends Trading Little Changed
The Canadian dollar was falling against the US dollar while rising versus the Japanese yen and the euro on Friday. Yet by the end of the trading session the currency moved closer to the opening level, ending trading little changed against its major peers. The loonie (as the Canadian currency is nicknamed) was struggling along with other currencies against the US dollar on speculation about an imminent interest rate hike in the United States. Such talks … “Canadian Dollar Ends Trading Little Changed”
Dollar Ends Friday with Gains
The US dollar has ended Friday’s trading with gains as traders continued to speculate about the possibility of an interest rate hike in 2015. Yet the currency was moving down before closing, making it hard to determine how it will behave at the start of the next week. Yesterday, Janet Yellen, head of the Federal Reserve, signaled in her speech about a decent probability of monetary tightening before the year-end. Speculations about possible interest … “Dollar Ends Friday with Gains”
New Zealand Dollar Rises in Face of Adverse Fundamentals
The New Zealand dollar rallied today even though macroeconomic data released earlier this week was highly negative for the currency while the market sentiment was not supportive either. Released yesterday, the trade balance data showed a growing deficit that exceeded economists’ expectations. Earlier this week, a report showed that manufacturing sector of China, the main trading partner of New Zealand, was at its worst in six years … “New Zealand Dollar Rises in Face of Adverse Fundamentals”
Yen Slips as Japan Slides into Deflation
The Japanese yen was soft today after data showed that Japan slipped back into deflation, giving incentive for the Bank of Japan to expand the already extensive monetary stimulus. Data released during the Asian trading session showed that both Tokyo core CPI (for September) and national core CPI (for August) fell. While the indicators were in line with experts’ forecast, they were still not good. And this means … “Yen Slips as Japan Slides into Deflation”
Catalonia’s elections could result in fresh risk for the
The critical elections in Catalonia on September 27th could result in an outright majority for secession from Spain, something considered unthinkable only a few years ago. While Greece, is out of the headlines, a new risk to the euro-zone could emerge from the other side of the Mediterranean. Such an outcome does not mean an independent … “Catalonia’s elections could result in fresh risk for the”