GBP/USD hit a 6-week low of 1.2260 this morning. Last night, the House of Lords defied the Brexit bill, by 358 votes to 256, calls for ministers to amend the proposal by ensuring the rights of the 3-million EU citizens living in the UK, within three months of triggering Article 50. The UK Prime Minister […]
This morning we have seen the release of German Unemployment Change in Feb, fell by 14K, beating expectations of a 10K fall. The German unemployment rate in Feb remains at 5.9%, in line with expectations. EUR/USD has turned bearish since yesterday, as a result of the strengthening of the dollar. The current price is nearing […]
We will see the release of a series of Markit PMI figures in Feb in the early European session today. German Manufacturing, Services, and Composite PMIs, at 08:30 GMT, followed by the Eurozone Manufacturing, Services, and Composite PMIs, at 09:00 GMT. EUR/JPY has seen a noticeable retracement since the beginning of Feb, breaking the two-month […]
AUD/USD has turned bullish since early January, as a result of the retracement of the dollar and the rebound of commodity prices. The Aussie has been one of the best currency performers year to date. The Reserve Bank of Australia (RBA) announced the rates remain unchanged at a record low of 1.5% On 7th Feb, […]
GBP/USD has rebounded since 16th January, trading above the downside short-term major uptrend line support. However, the bullish momentum has waned since early February, as a result of the strengthening of the dollar. On Tuesday 14th Feb, the uptrend line support was broken after the Fed Chair Yellen’s hawkish testimony. The support has turned into […]
The Fed Chair Yellen made her first day of her testimony before the Congress at 15:00 GMT on Tuesday 14th Feb, which was the first testimony she did after Trump took office. She adopted a hawkish outlook, which pushed the dollar and the Treasury yields higher. She stated that waiting too long to remove accommodation […]
This early morning the RBA (Reserve Bank of Australia) announced that the interest rates remain unchanged at record low of 1.5%, in line with expectations, as the RBA expects no further QE in other major economies. The RBA implied that in the short term there won’t be a further rate cut, the rates will likely […]
Theresa May visited President Trump on Friday 27th Jan in Washington – she was the first foreign leader to visit the new US president. Trump told Theresa May that he believes Brexit will be a wonderful thing for Britain, and open the door to new trade deals. Trump has showed his support to NATO, which […]
We will see the release of the US Q4 GDP (QoQ annualized) at 13:30 GMT this afternoon. Despite the market consensus of 2.1% for the US Q4 GDP (QoQ). The quarter-on-quarter Q1 to Q3 US GDP final readings were 1.1%, 1.4% and 3.5%, showing a robust economic recovery. EURUSD has rebounded since the beginning of […]
We will see the release of the Australian and New Zealand Q4 CPI figures (YoY and QoQ), at 02:30 and 23:45 GMT respectively, on this Wednesday 25th January. AUD/USD has turned bullish since early January, after testing the mid-term major support at 0.7150, as a result of the retracement of the dollar and the rebound […]
Tomorrow, Tuesday 24 January, around 09:30 GMT, the UK Supreme Court will release the Brexit lawsuit Ruling, on whether the UK Prime Minister Theresa May will need the UK parliament’s approval to invoke Article 50 of the Lisbon Treaty, to leave the EU. Last Tuesday 17th January, GBPUSD surged to a one-week high of 1.2415, […]
The dollar and the US government bond yields surged last night as the Fed president Janet Yellen’s speech to the Commonwealth Club in San Francisco. Yellen stated that the nation is approaching full employment, the employment rate is less than 5%, near the level before the recession. In terms of inflation, although it has remained […]
Trump stated on Tuesday that a strong dollar is risky to the US economy, as it weakens competitiveness of US exports and corporate profits. A senior adviser to Trump also warned that a strong dollar could make it difficult for Trump to implement his policies and revitalize the US economy. The comments drove the dollar […]
Theresa May will make a speech outline her plans for Brexit tomorrow, on Tuesday 17th Jan, before she triggers Article 50 to leave the EU. The key points of her speech including immigration control, leaving the jurisdiction of the European Court of Justice. On Sunday 15th Jan, Sunday Telegraph reported that the UK Prime Minister […]
The strong bullish momentum of USDJPY post the US presidential election has waned since mid-December, a consolidation pattern has been formed thereafter. On 5th Jan, a long bearish candle broke the near term major support level at 116.00 on the daily time frame. On 12th Jan, the next major support line at 115.00 was further […]
Trump’s first press conference after his victory on the US presidential election was held yesterday around at 16:00 GMT. It has cause a great volatility to the dollar and the markets. Before the start of the press conference, the dollar index surged from the support line at 102.00, testing the resistance at 103.00, reaching the […]
GBPUSD has rebounded after testing the short term major support line at 1.2100, where provides a strong support. GBPUSD fell more than 1% after the interview between Sky News and the UK PM Theresa May about an inevitable hard Brexit and the implication of leaving the EU single market. GBPUSD hit the lowest level of […]
We have seen the release of a series of German economic data for Nov this morning, which were overall better than the previous figures. Trade Balance rose to 21.7 B, from 20.6 B in Oct. Current Account rose to 24.6 B, from 19.4 B in Oct. Exports (MoM) rose to 3.9%, from 0.5% in Oct. […]
Yesterday we have seen a 1.03% retracement of the dollar, which was the biggest loss since the US presidential election. The downside uptrend line support was broken by a long bearish candle. Yesterday the support level at 102.50 was broken during early Asian session. It was followed by a rebound, testing the level, yet retraced […]
The dollar index (DXY) fell below 102.00, to a three-week low of 101.73 during early European session, the biggest loss since the US presidential election. DXY retraced from a 14-year high since this Tue, due to the wane of bullish momentum. The near term major support line at 102.50 was broken this morning, following the […]
Yesterday the UK Markit Manufacturing PMI was released, rose to 56.1 in Dec from 53.6 in Nov, surpassing expectations of 53.0, and marking the best reading since Jun 2014. This morning we have seen the release of a series of UK economic figures, all better-than-expected. PMI construction (Dec) was 54.2, surpassing expectations of 52.8. Consumer […]
Dollar firms again during European Session this morning, following the substantial retracement ahead of the New Year break. On the 4 hourly time frame, the dollar index (DXY) rallied again after testing the downside uptrend line support. Although with less bullish momentum, the uptrend has not reversed yet. It is currently trading above the level […]
The FTSE index has seen a 14.72% gain this year. The trend has turned upwards after hitting a 3-year-and-seven-month low of 5495.05 on 11th February. The price has been held above the mid-term major support at 6600, oscillating in a range between 6600 – 7100. The bullish momentum has increased since 5th Dec, helped by […]
GBPUSD has turned bullish, and been trading above the downside uptrend line support since 25th Oct, due to the strengthening of the Sterling. As a result of a strong dollar caused by the Fed’s interest rate decision and announcement, GBPUSD has retraced with a long bearish candle, and the downside support line was broken on […]
EURUSD has rebounded since 12th Dec, after testing the near term major support level at 1.0530. This morning we have seen a sell off after the price tested the resistance level at 1.0660. The current trading pattern is likely to oscillate in the range between 1.0600 – 1.0660. The resistance level is at 1.0660, followed […]
We have seen the release of a series of the UK inflation figures for November this morning. PPI and Core PPI (YoY) were lower than expectations, yet better than the previous figures. CPI and Core CPI figures were slightly higher than expectations. GBPUSD has held above the support level at 1.2550 since 8th Dec, after […]
OPEC held a meeting last Sat 10th Dec in Vienna, although only 5 out of 16 countries attended, including Russia, Kazakhstan, Oman, and Mexico. Yet an outcome of output cut was reached for the first time for OPEC and Non-OPEC countries, since 2001 to cut oil output. Despite the Baker Hughes US oil rig count […]
GBPUSD has seen a substantial fall of 1.155% from 6th to 8th December, after testing the resistance level at 1.2750. Yesterday the price has rebounded after testing the support level at 1.2550. This morning we have seen the release of a series of the UK figures. The Consumer Inflation Expectations was 2.8%, surpassed the previous […]
The Italian referendum weighed on EUR/USD, fell to a year low of 1.0506 on 5th December. It was followed a quick recovery, as a result of the rebound of the Euro after testing the significant support level at 1.0500. Yet it retraced after testing the significant resistance level at 1.0800. On 6th December, EUR/USD has […]
AUDUSD has seen a significant retracement since the US presidential election, as a result of the strengthening of the dollar. We saw the release of the Australian Q3 GDP YoY figure overnight, was 1.8%, much lower than expectations of 2.5% and the previous figure of 3.3%. The weak GDP figure weighed on the Aussie, it […]
