The world needs to adjust to the Federal Reserve’s tapering, Australian Treasurer Joe Hockey said, backing a stimulus trim down by the U.S. that triggered market turmoil and emergency measures in some emerging markets. “It’s not something that hasn’t been foreshadowed,” Hockey said in an interview in Canberra yesterday. “The world can no longer rely […]
European stocks slide lower, ending their longest winning streak of the year, as firms from Rolls-Royce Holdings Plc to BNP Paribas SA reported results. Rolls-Royce sagged down the most since August 2000 after predicting sales will decline and will not be able to advance this year for the first time in a decade. BNP Paribas […]
Argentine bonds will possibly continue this month’s largest advance in emerging markets after the government revealed a new inflation index that’s the most concrete indication so far that it’s ready to move away from policies that have alienated investors for more than a decade. Consumer financial values bolstered 3.7 percent in January from a month […]
Traders are betting the Canadian dollar decline too far, too fast in its weakest opening to a year in more than four decades, as surging commodities prices and a projection budget surplus damp speculation for interest-rate trims. The cost to insure versus the loonie weakening further decline to the worst in three years, and analysts […]
U.S. stocks march higher, after the Standard & Poor’s 500 Index ended a four-day rally yesterday, as profits and a $45.2 billion takeover of Time Warner Cable Inc. overshadowed a surprising decrease in retail sales. Treasuries soared and natural gas appreciated. The S&P 500 rose 0.6 percent to the topmost performing mark since January 22 […]
The Dollar index has broken its important short-term support at 80.40 that we mentioned and moved towards our target of 80.10-20. Now it stands right on top of a major trend line support that if broken could push the index towards 79. The rejection at 80.80 was important as it signalled more weakness and confirmed […]
Trading recommendations: According to previous events, the price of the USD/CHF pair has still been moving between the price of 0.8970 and the 0.8880 price. Psychological level has set at the 0.9025 price. Therefore, sell deals are recommended below the 0.9025 level with targets at the level of 0.8903 in order to form a double […]
February 14th 2014, Daily Market Bite from Ishaq Siddiqi Market Strategist. European stocks ease a tad from the open although German and Italian equities register gains; US stock futures are currently softer; gold is up around 8 bucks whilst core governments bonds decline on the mild risk-on tone. In forex markets, USD and yen both […]
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EURUSD broke a resistance level at 1.3691 on Friday to reach 1.3712, opening the path for a move higher towards the next resistance level (R1) at 1.3738 (January 24 high). Failure to breach this level would reinstate the downside bias the pair has in the long term. In the past 3 weeks, the pair has […]
Last fall, the editor of Elliott Wave International’s Currency Pro Service, Jim Martens, observed a beautiful pattern in the chart of the Japanese yen. This pattern, called a triangle in Elliott wave terms, offers a very clear outlook for the market. What is a triangle? It’s a corrective pattern, meaning that it moves in the […]
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Silver Hits Winning Streak Morning Report: 08.30 London • Markets have a slight negative bias this morning, though are generally holding recent gains thanks to in line Chinese inflation figures. • Commodities are doing very well this morning thanks to an off colour US dollar. Silver has reached its highest level since November, while gold continues […]
Natural gas advanced on Friday, heading to a win for the week after a bigger decline in supplies of the commodity. In electronic trade, natural gas in March accrued 7 cents or 1.3%, to $5.29 per million British thermal units. That prolonged the 40-cent rally or 8.3% on last Thursday’s regular session in the New York Mercantile Exchange. The […]
General overview for 14/02/2014 08:35 CET Five impulsive waves to the downside has been finished and now the market is in corrective cycle wave (iv) blue. The most important intraday level for bears is the area between the levels of 1.1026 – 1.1042. It will act as a strong resistance together with golden trend line. […]
EUR/USD: The loss in the price has been recovered and the price is now going further northwards. This pair is nosing towards the resistance line at 1.3700 – an easy target in the chart. The new target for the bulls would be the resistance line at 1.3750, after the 1.3700 line is broken to the […]
General overview for 14/02/2014 08:15 CET The corrective cycle is getting more complex and each wave inside the price range between the levels of 138.66 – 140.05 is starting to look like a triangle formation. Because there is one more wave to the downside needed in order to complete the corrective cycle, lower prices are […]
Weak US data kept the dollar under pressure, pushing it to three-week lows against the euro. Meanwhile, inflation data from China also led to some caution in the markets, resulting in safe haven demand for the yen. US retail sales numbers in January missed forecasts while weekly jobless claims rose last week. Chinese consumer inflation […]
Forex trading resulted in the GBP/USD pair experiencing its largest increase in three months on Feb. 12, as global market participants were impacted by the recent statements made by officials representing the central banks of both the U.S. and also the U.K. The GBP/USD rose to as much as 1.6581 during the day in London, […]
The Australian dollar has snapped back, following a weak US economic data that lifted hopes the US Federal Reserve might not increase the tapering of its bond-buying program any time soon. The currency gained 0.3% to 90.03 US cents as of 1:58 p.m. (Australian time), set for a 0.5% gain this week. It incurred 0.3% to NZ$1.0793, after […]
The US dollar surged for its weekly slip against a basket of its major peers before data today might show the industrial production gains eased, while consumer sentiment diminished. The euro was close to a two-week peak before report today might reflect the region’s economy improved during the last quarter of 2013 for three consecutive periods. The yen […]
US stocks recouped its momentum in Thursday’s trading, while the Nasdaq climbed for six consecutive trading days, as investors looked at weak economic data on consumer spending, attributing the weakness up to weather and not on weaker fundamentals. The Nasdaq climbed around 5.7% over the last six sessions, its most six-day advance since December 2011. Both the Dow […]
When the European market opens, some economic news will be released such as French Prelim GDP q/q, German Prelim GDP q/q, French Prelim Non-Farm Payrolls q/q, Italian Prelim GDP q/q, Flash GDP q/q, Trade Balance. The US will release the economic data too such as the US-Import Prices m/m, US-Capacity Utilization Rate, US-Industrial Production m/m, […]
In Asia, Japan will not release any economic data’s for today and the US will release some economic data such as US-Import Prices m/m, US-Capacity Utilization Rate, US-Industrial Production m/m, US-Prelim UoM Consumer Sentiment, US-Prelim UoM Inflation Expectations. So there is a big probability the USD/JPY will move with low volatility during the Asian session, […]
The US retail sales fell 0.4% in January, while it was expected the sales to hold steady. USD had mixed results against other currency pairs this week. Last week, the non-farm payroll data did not encourage the US dollar to move higher. The dollar index is still forming a triangle coming back to the lower […]
Daily chart: The USDX fell significantly below the level of 80.62, having formed a higher low pattern. Now, the next target for the USDX is the support level of 80.11. However, one would expect that the USDX will start forming another bearish pattern to continue falling. The USDX is very strong in its bearish bias, […]
Daily chart: GBP/USD continues to rise above the support level of 1.6540, heading towards the resistance level of 1.6663. If the pair manages to break that level, it is expected to rise to the resistance level of 1.6851. On the other hand, it is expected to fall to the level of 1.6540 if the pair […]
After declining 100 pips, the EUR/GBP pair began its long road to recovery. The EUR/GBP was back in the driver’s seat after Germany posted in-line consumer inflation data. Consumer inflation in Europe’s largest economy declined 0.6% in January, in-line with forecasts. Compared to year-ago levels, consumer inflation in Germany was up 1.2%, also in-line with […]
The EUR/USD rebounded sharply one day after falling to multi-week lows. The pair was supported after German consumer inflation data met expectations. Although Eurozone inflation is expected to remain subdued, analysts forecast a strong rebound for the Eurozone economy in 2014, according to the European Central Bank’s quarterly survey. Germany’s Consumer Price Index declined 0.6% […]
The USD/CAD was back above 1.10, after declining in three of the past four sessions. The pair has been under pressure due to weaker than forecast US nonfarm payrolls data, which threatened to undermine the Federal Reserve’s bond tapering program. With Janet Yellen confirming that the Fed will continue with the gradual tapering process, the […]
