The dollar index has rebounded since 8th September after tested the support line at 94.50. On 13th September, the index broke the downtrend line resistance and held. The current price is oscillating in the range between the downtrend line support at 95.16 and the uptrend line resistance at 95.48. The daily Stochastic Oscillator is around […]
13 September 2016: Paul Hollingsworth, UK economist at Capital Economics, says that while the Bank of England is not expected to cut rates, or release any further quantitative easing this week, policymakers will be ready to act when needed. Related Posts:Overview of the EUR/USD pair. April 16th. In plain text: The… April 16, 2024 The […]
GBPUSD UK inflation data was released earlier, CPI and Core CPI (YoY) for August were both in line with previous figures, yet slightly lower-than-expected. PPI–Input and PPI–output (YoY) for August were higher than the previous figures, yet lower-than-expected. GBPUSD fell and broke the significant support line at 1.3300. The price zone between 1.3300 and 1.3330 […]
The Boston Fed Chair Rosengren made a hawkish statement last Friday, mentioning that if rates remain at a low level for long term, will pose risks of overheat to the economy and may result in another recession. The hawkish statement boosted the market expectations on a September rate hike, and pushed the dollar index up. […]
USDCAD Canadian Net Change in Employment and Unemployment Rate for August, will be released at 12:30 GMT today. USDCAD has turned bearish since 1st September, when the US ISM figure underperformed. Yet the level at 1.2800 is a significant support level. USDCAD has rebounded since 7th September, after the Bank of Canada announced rates remain […]
EURUSD The ECB interest rate decision and monetary policy statement, will be released today at 11:45 and 12:30 GMT respectively. The Eurozone economy remains tepid, and the inflation growth is still weak. The market expects the ECB to implement more stimulus measures in the coming months as the inflation still remains low. The interest rate […]
Andrew Benitz, Jersey Oil & Gas CEO, says the recent deal to bring Statoil into its north sea operations validates the asset. The venture carries JOG to the value $25 million of exploration costs. Andrew also talks about the belief that the north sea is s spent force, telling IG that this is far from […]
The US ISM Non-Manufacturing PMI for August, released yesterday, plunged to 51.4, the lowest level since Jan 2010, resulted in the sharp falling of the dollar. The dollar weakened across the board. The ISM Manufacturing PMI released on 1st September fell below 50. The subsequent Non-Farm Payroll released last Friday was weak. The ISM Non-Manufacturing […]
7 September 2016: Amur Minerals CEO, Robin Young, says the letter of intent with IG Copper opens talks to look at ways of expanding its operations into smelting, not just mining, nickel sulphide. Robin also updates on the drill programme and DFS. Related Posts:AUD/USD Update for November 02, 2023 – Potential for the… November 2, […]
6 September 2016: Kenneth May, interim CEO of Tethys Petroleum, says despite recent developments in the company’s recapitalisation efforts, he is moving to raise funds to drill a new field near to existing production at the Doris well in Kazakhstan.
AUDUSD The RBA rate decision was announced this morning, as unchanged at 1.5%, in line with consensus. The Australian Current Account Balance in Q2, released this morning, was -15.50 billion, beating expectations of -19.75 billion. The positive figure helped the Aussie break the major resistance at 0.7600 and the uptrend line resistance this morning. It […]
GOLD Gold rebounded after testing the significant support level at 1300 on 2nd September. The weak NFP figure helped spot Gold surge from 1296.66 to 1330.07, a 2.58% intra-day rise. The price retraced after testing the significant resistance level at 1330, where also the uptrend line resistance situates. It currently holds above the newly formed […]
The Brexit hysteria appears to have died down, which means traders can focus once again on the fundamentals. Perhaps surprisingly, London’s FTSE 100 Index has shot up nearly 14% since the post-Brexit selloff. UK stocks are currently trading at their highest level of the year, and look poised to continue that rally in September. Having […]
The Dollar Index (DXY) The US Non-Farm Payroll (NFP) and Unemployment Rate for August were released earlier. The NFP reading fell to 151k, lower than both expectations of 181k, and the previous figure of 255k in July. The Unemployment Rate was 4.9%, in line with the previous figure, yet slightly higher than the expectations of […]
30 August 2016: VTC Group helps tech startups and small businesses bid for jobs with big corporates. CEO Auriol Stevens talks to IGTV about the successful project which was launched with defense giant Lockheed Martin last year.
WTI Crude Spot The weekly US Crude Oil Inventories figure released yesterday was 2.276 million barrels, less than the previous figure of 2.501, yet surpassing the expectations of 0.921. After the figure was released, the bearish momentum has strengthened. WTI broke the support lines at 46.40, 46.00, and the 38.2% Fibonacci retracement level at 45.67 […]
USDCAD On the daily chart, USDCAD has rallied since Yellen’s hawkish speech last Friday, and broke the significant resistance level at 1.3000. Yet USDCAD is currently trading around the next major resistance level at 1.3100, where the significant uptrend line resistance situates, suggesting heavy selling pressure at this price zone. In addition, the daily and […]
30 August 2016: David Buik, market commentator at Panmure Gordon, says despite desperate attempts to ‘wean the US economy off’ low rates, the ‘prevarication’ is causing uncertainty. David also says the Fed is trying to move against the global trend. Related Posts:EUR/USD. April 12th. ECB meeting: confidence in rate cut… April 12, 2024 On Thursday, […]
The Dollar Index (DXY) Janet Yellen’s hawkish statement in Jackson Hole last Friday on 26th August has led to a dramatic move in the dollar. The dollar index reached the biggest intra-day rally of 1.48% since 24th June, the dollar strengthened across the board. On the daily chart of the dollar index (DXY), the major […]
Yesterday’s UK Holiday kept the markets somewhat calm. JPY was the weakest major currency yesterday due to the expectation of Bank of Japan easing in the near term while the US dollar continues to strengthen against the majors. Looking ahead, UK will release mortgage approvals and M4, US will release consumer confidence during US session later in […]
Here’s what’s going on for the Greenback The EUR/USD on Friday decreased by 0.8%. And on a weekly basis, the world’s most popular currency pair fell by 0.9%. The probability of the Federal Reserve increasing interest during this year have increased according to its Chairwoman Janet Yellen. What lead to this situation: During her annual […]
The trading week was starting to look as though it was going to end without any excitement. Wow, did that ever change on Friday! On Wednesday Aug 24th, the stock market sold off to a level which I consider to be an extreme oversold condition for the week. While I do have several criteria as […]
The Dollar Index (DXY) Today, Fed Chairman Janet Yellen will make a speech at 14:00 GMT. In addition, the US Q2 GDP Growth second estimate (QoQ) annualized figure, and Goods Trade Balance for July, to be released at 12:30 GMT. The dollar index (DXY) rallied yesterday, helped by the positive Durable and Core Durable Goods […]
The Dollar Index Future (DXY) The dollar has rallied from 23rd to 24th Aug helped by the highest level of New Home Sales figure since Oct 2007. On the 4 hourly chart, the dollar index future (DXY) broke the upside major downtrend line resistance at 94.53 on 24th Aug by a long bullish candle. It […]
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Low and negative yields mean that no one has the confidence to invest in real capital projects. Investors would much rather lose money over a 10-year horizon than invest in building dams, repairing pipes, creating better grids, starting new businesses, etc. A new monetary order must replace the existing one, and as soon as possible. […]
GBPUSD Sterling broke the major resistances at 1.3200 and 1.3230 this morning as a result of the earlier weakening of the dollar. The price further tested the next resistances at 1.3230 and 1.3250 then pulled back as the dollar is turning strong, weighing on GBPUSD. It is currently oscillating around the level at 1.3230. On […]
Mining giant Glencore (GLEN.L) was under pressure this morning falling more than 5% on the back of news in its half year report that underlying profit has fallen for the period and it is to continue cutting back on debt. The company report an EBITDA of $4 Billion, down 13% on the previous period. Glencore […]
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The Jackson Hole Summit takes place every year in a valley in the US state of Wyoming. The meeting brings together all the local Federal Reserve banks in the States, and the outcomes from the conference can have global ramifications. With the Fed caught in a monetary policy dilemma, we look at which markets will […]
