USDJPY: The pair remains vulnerable to the downside following its last week losses. A follow through lower is snow underway suggesting further decline with eyes on the 101.50 level a possibility. A cut through here will call for a run at the 101.00 level where a breach will turn attention to the 100.00 level, its […]
The euro was 0.1 percent from its weakest point in more than two months on concern weakening inflation pressures in the region will trigger the European Central Bank to ease financial policy. The yen pulled back against all 16 major counterparts after official Chinese data on February 1 showed manufacturing expanded in line with the […]
February 3, 2014 – Commodities News Hot Asset For Today: Gold Price of Gold slid to $1,238/ounce on Thursday and again on Friday as the physical demand from China calmed down due to New Year’s holidays. Today we might see less volatile market influenced mainly by stock market. We saw last week that bearish sentiment […]
The euro is close to a 10-week low versus dollar on Monday, following a dull euro zone inflation data revitalized speculation the European Central Bank (ECB) may ease policy to turn away deflation. Concerns on capital flight from emerging economies also kept traders away from risk assets, bolstering the yen over growth-sensitive and high-yielding currencies. […]
The Rupee turned minimally lower as state-run banks were seen purchasing dollar in order to meet defence needs, foreign banks shield prior to Reserve Bank of India’s (RBI) reference rate setting. “There was some initial front-running on the mobile auction payment-related inflows that are expected in the next few days. However, subsequently dollar demand rose,” […]
Key currency pairs traded slightly changed on Monday in Asia, with the US dollar settling a little higher than its level late last week. The ICE dollar index, which monitors the US unit against six other currencies, advanced 81.283 from 81.247 late Friday. Also, the WSJ Dollar Index went up 74.46 from 74.44. The euro […]
February 3, 2014 – Daily Market News Today’s Hot Assets: EUR , USD US stocks fell on Friday after weak fourth quarter earnings. Markets are also still reacting to the Federal Reserve’s decision to further cut the monetary stimulus. At the close of U.S. trading, the Dow Jones Industrial Average was 0.94% lower and the […]
The US crude futures plummeted in early Asian trade on Monday about worries over oil demand, following a factory growth in China, the top 2 oil consumer in the world, loosened in January to a six month low. US oil missed 31 cents to $97.18 per barrel in thin trade with Chinese markets closed for […]
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Asian stocks dropped as the regional benchmark gauge extended its sharpest monthly slack since May, following the slowdown in Chinese manufacturing growth, which added concern to a worldwide economic recovery, is unsteady. Hokkaido Electric Power Co. (9509) fell 8.4%, the major loss in the MSCI Asia Pacific Index, as the Japanese index predicts a whole […]
Hedge funds increased bullish gold wagers by the most since July and sold copper possessions as emerging market turmoil accelerated concern the worldwide economy will slow down and raised demand for precious metals as a harbor. The net-long position in gold bounced 40% to 60,672 futures and options last January 28, as per the US […]
February 3rd 2014, Daily Market Bite from Ishaq Siddiqi Market Strategist. Trepidation in European equity markets on first trading day of the month as investors in the region await PMI manufacturing data out of the euro zone, UK and the US. The euro zone PMIs should confirm an encouraging picture of manufacturing activity in the […]
AUDUSD has been range- bound since reaching a more-than 3-year low of 0.8659 on January 24. The pair is consolidating ahead of a key risk event on Tuesday, when the Reserve Bank of Australia is expected to keep rates on hold. The reduction of easing expectations is keeping the pair supported above this 0.8659 level. […]
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February 3, 2014 – Forex News Hot asset for today: GBP/USD The EUR/USD finished last week below 1.3500 – the lowest price since November 22nd. The price was pushed down by stronger U.S. Dollar and uncertain EU economic outlook. The EU CPI showed 0.7% increase instead of expected 0.9%. That increase speculation over possible further […]
Today’s Support and Resistance levels: R3: 1.6748 R2: 1.6713 R1: 1.6670 Current spot: 1.6623 S1: 1.6560 S2: 1.6493 S3: 1.6419 Technical summary: Black wave iii ended slightly earlier than expected 1.6792 (the high of wave iii came in at 1.6748). We are now in black wave iv, which ideally will meet support at 1.6560 for […]
Today’s Support and Resistance levels: R3: 139.23 R2: 138.66 R1: 138.24 Current spot: 137.89 S1: 137.39 S2: 136.97 S3: 136.67 Technical summary: We have finally seen a break below the base channel support line, which heralds acceleration lower. In the short term we will be looking for minor resistance at 138.32 to protect the upside […]
Last week’s risk-off tone filtered through to the start of the new trading week while caution is also keeping markets subdued ahead of a risk-filled week. The Bank of England and European Central Bank both hold policy meetings on Thursday. Meanwhile, the Reserve Bank of Australia is also having a policy meeting on Tuesday. One […]
February 3, 2014 – Weekly News WEEKLY REPORT 03/02-07/02 EUR/USD Last week the EUR/USD pair decreased by 1.73%. The pair mainly fell on Thursday – the day after Fed announced another cut in monetary stimulus (from $75 billion/month to $65 billion/month). On Thursday and on Friday we saw that German and EU CPI came out […]
Trepidation in European equity markets on first trading day of the month as investors in the region await PMI manufacturing data out of the euro zone, UK and the US. The euro zone PMIs should confirm an encouraging picture of manufacturing activity in the region since the start of the year. Stronger business confidence out […]
European markets have opened slightly higher today, as investors awaited a slew of economic data from the European countries, due today, to gauge the direction of the market momentum. However, gains were limited as China reported a slowdown in its manufacturing activity on Friday and a drop in its services activity earlier today. Closer home, […]
The dollar index has been in a difficult situation recently because of the divergent trends of its key components – JPY, EUR and GBP. In the chart there is a potential triangle. We see the index might break out above the level of $81.5 because the European currencies showing strength slowly reversed the trend. We […]
Gold does not see any buying interest due to the Lunar New year festival. The US data showed that the consumer spendings rose above expectations (+0.4%) in the month of December. Earlier hours in this week gold started its trading day with a bearish note. Last Monday, gold made a high at the level of […]
EUR/USD has broken the seven-month raising lower trend line. Oscillators gave a negative divergence indication. We recommended selling at the level of 1.3655 in our previous report dated January 29, 2014. Yesterday’s low was very crucial in coming trading session. Due to oversold zones we could expect a pullback of the price, cmp 1.3484. A […]
When the European market opens, some economic news will be released such as Spanish Manufacturing PMI,Italian Manufacturing PMI,Final Manufacturing PMI. The US will release the most important economic data such as the US-ISM Manufacturing PMI,US-Construction Spending m/m,US-ISM Manufacturing Prices,US-Total Vehicle Sales, so amid the reports, EUR/USD will move with low to medium volatility during this […]
In Asia, Japan will not release any economic data’s and the US will release some economic data such as ISM Manufacturing PMI,Construction Spending m/m,ISM Manufacturing Prices,Total Vehicle Sales. So there is a big probability the USD/JPY will move with low volatility during the Asian session, but with low to medium volatility during the US session. […]
EUR/USD: The weakness in the EUR/USD may continue this week, especially when the price breaks the support line at 1.3450 to the downside. However, this may not occur without some upwards bounces along the way, which would tend to be opportunities to go short in the downtrend. USD/CHF: The stamina in the USD/CHF may continue […]
Daily chart: The USDX is near a very strong resistance at the level of 81.50. If the USDX does make a breakout at that level, the bullish trend will strengthen and eventually the USDX could rise to the level of 82.51 in the long term. However, if the USDX makes a bearish rebound at current […]
Daily chart: The GBP/USD continues to fall below the level of 1.6447, and starting this week, this pair is showing bearish patterns that indicate a clear weakness in this pair. If GBP/USD manages to consolidate below this level, it is likely that it will fall to the support level of 1.6326, which would be a […]
