Market Overview The recovery in the price of oil in the last week has been a boost to market sentiment and this has come with the dollar coming under increasing corrective pressure amidst data disappointment and more concern over Trump. Weaker US data is gradually becoming a trend, as the New York Fed manufacturing dropped…
Read moreThe Asian session saw equities climb to a fresh-two year high early on Tuesday on the back of an overnight rise in Wall Street fueled by reports that President Trump had disclosed classified information with the Russian Foreign Minister without necessary authorization from the source. This re-fueled the continued underlying uncertainties and reinforced doubts surrounding…
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BackgroundFriday's sharp fall through the 100 day moving average deepened on Monday. This latest decline — the third in a row — took USDCHF to test the 13 and 200 day moving average area. The scope of the three day move also took signals for sentiment to oversold extremes. That element coupled with positive divergence…
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BackgroundThe New Zealand dollar remains under pressure after the market got caught out by a more dovish than expected statement from the Reserve Bank last week (see Kiwi slumps as RBNZ maintains neutral stance on monetary policy).The only Kiwi dollar specific data point this week is tomorrow’s dairy trade auction. Futures pricing suggests another small…
Read morePublished on 15.05.2017 23:51 The oil price racked up its fourth straight day of gains today after Saudi Arabia and Russia said a deal to cut production should continue until March next year. After reaching a low of $46.50 just over a week ago, Brent crude oil has jumped more than 13 percent and is…
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Short term / Buy
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EUR/USD has retraced around 1.15% post the second-round vote of the French presidential election. The retracement was held above the support line at 1.0850 since yesterday. On the 4-hourly chart, the 10 SMA is crossing over the 20 SMA, indicating the bearish momentum is waning. The daily Stochastic Oscillator reading is below 20, suggesting a…
Read moreFriday May 12th will see the release of a set of crucial US data for April at 13:30 BST; retail sales, retail sales excluding autos, CPI and core CPI. Please be aware that it will likely affect USD and USD crosses along with commodities. The dollar index has rebounded over the past four trading sessions…
Read morePublished on 11.05.2017 21:22 The British pound has taken a hit today Against its US counterpart after an unexpected dovish speech from the Bank of England put to sleep and rate hikes in the nearest future. At 6.53pm (GMT) the British currency was trading at $1.2880 down from $1.2936 in yesterday’s trading session, Most analysts…
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Spot gold has seen a substantial 5% retracement since mid-April as it neared a significant resistance level at $1300. The French election outcome has lifted markets’ “risk-on” sentiment and resulted in safe heavens retreating which has weighed on gold prices. The dollar has been strengthening over the past three days adding further downward pressure on…
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