Safe havens have strengthened across the board as the recent risk events have lifted markets’ risk off sentiment. Notably the London terror attack, gulf states cut diplomatic ties with Qatar, and the upcoming UK general election. On Tuesday, June 6th, spot gold rallied 0.8%, hitting a high of $1289.55, last seen on April 19. JPY…
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EUR/GBP has seen a noticeable 4.3% gain since May 11, helped by the strengthening of EUR. On the daily chart EUR/GBP has been trading above the downside 10-day SMA support since then. However, in early European session today, the bulls have retraced after hitting a 12-week high of 0.8766, as trading below the significant resistance…
Read moreThe London terror attack happened on Saturday, June 3rd, which was the third terror attack in the UK this year following the Westminster terror attack in March and the Manchester terror attack in May. The timing of the London terror attack especially sensitive being just a few days prior to the general election. The polls…
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USD/CAD has plunged 2.5% from May 5th to 24th caused by rising oil prices. The trend has turned to an upswing since May 24th helped by a slump in oil prices after the recent OPEC meeting. On the 4-hourly chart USD/CAD has turned bullish, trading above the downside uptrend line support. This morning USD/CAD hit…
Read moreThe crucial US labour market data for May will be released today, June 2nd at 13:30 BST. It includes non-farm payrolls, unemployment rate and average hourly earnings. Please note that the release of US labour market data will likely cause volatility for USD, USD crosses and commodities. Non-farm payroll in April was 211K, beating the…
Read morePublished on 01.06.2017 17:55 The British pound is under pressure again today against the Euro as more polls released before election day show the opposition labor party closing the gap on Theresa May’s conservatives. At 3.26pm (GMT) the British currency was trading at 87.04 against its European counterpart, down from 87.32 in yesterday’s close A…
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US Pending home sales (YoY) released yesterday saw a 3.3% drop in April, from a 0.8% growth in March, marking the biggest drop since June 2014. After the release of the data USD weakened across the board. USD/JPY hit a 2-week low of 110.47. On Thursday, June 1st, in early European trading session, the USD/JPY…
Read morePer the latest ‘poll of polls’ released yesterday May 31, conducted by the Press Association based on a 7-day rolling average of all published polls, approval ratings for the Conservative and Labour Parties are 44% and 35% respectively. The Conservatives’ lead is 9% which is higher than the previous shocking low 5% lead. Currently the…
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NZD/USD has seen a noticeable 2.4% gain since May 22nd helped by outperforming New Zealand economic data. On the daily chart Kiwi bulls have successfully breached the major downtrend line resistance on May 22. Since then Kiwi has been trading above the downside 10 SMA support. The bulls further broke the next significant psychological resistance…
Read moreThe Brexit negotiation process is one of the focuses of the upcoming UK election. Although the Conservative Party has pledged a smooth and orderly Brexit, Theresa May expressed on Monday evening that she will push for a hard Brexit without any deal than paying a hefty bill for leaving the EU. She expects a fair…
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