Technical Analysis – USDCNH erases downward rally; rebounds on 6-month low

Posted on January 14, 2019 at 12:36 pm GMT

USDCNH plunged to a new six-month low of 6.7360 in Friday’s session, creating three straight negative days. The price dropped beneath the 23.6% Fibonacci retracement level of the upleg from 6.2350 to 6.9781, however, currently, it is paring some of the lost ground. The RSI is pointing up near oversold levels, slightly below 30, indicating that the market could strengthen a little bit in the short-term until the index falls back below that threshold, while the MACD supports a bearish picture as well, since [..]


Week Ahead – Spotlight on US jobs report after ‘Powell Put’; RBA and BoC meet

Posted on November 30, 2018 at 1:56 pm GMT

The coming week will be significant both in terms of data releases as well as for central bank meetings. November nonfarm payrolls out of the US will likely be the most anticipated report but it’s going to be a big week for the Australian dollar too as Q3 GDP numbers are due along with an RBA meeting. The Bank of Canada will be the other central bank holding a scheduled meeting, though the Canadian dollar will probably be paying more [..]


Aussie eyes Chinese PMIs and Trump-Xi meeting – Forex News Preview

Posted on November 29, 2018 at 8:36 am GMT

Chinese official PMI data for November are due on Friday at 0100 GMT. Aussie traders will be eyeing the numbers given Australia’s China-dependency, which has rendered the currency a liquid proxy for Chinese “plays”. More pivotal for the Aussie though is likely to be the outcome of the Trump-Xi weekend meeting on trade at the G20 summit. The manufacturing PMI, which is expected to attract the lion’s share of attention on Friday, is projected to remain at 50.2 in November, its lowest since July 2016. On [..]


US Open Preview – Euro rises softly ahead of ECB rate announcement; equities show some recovery

Posted on October 25, 2018 at 11:22 am GMT

Here are the latest developments in global markets: FOREX: The euro was slowly rising versus the US dollar (+0.15%) below 1.1500 on Thursday ahead of the European Central Bank (ECB) interest rate decision later in the day, where the Bank is expected to keep policy unchanged but is likely to give some growth hints. The pair pared some losses after sliding to a fresh 2-month low of 1.1377 on Wednesday. Earlier in the day, the German Ifo business climate index for October dropped [..]


US Open Preview – Euro returns below 1.15 after Italy’s response; UK PM to speak in Parliament

Posted on October 22, 2018 at 11:46 am GMT

Here are the latest developments in global markets: FOREX: Sterling was declining by 0.25% against the US dollar on Monday as uncertainties around the Irish border weighed on hopes that a Brexit deal is close ahead of the UK Prime Minister’s speech in the Parliament. Pound/yen was fairly steady, while euro/pound increased by 0.23%. Euro/dollar reversed earlier gains to trade at 1.1494 (-0.16%) after Italy’s Finance Minister backed the 2019 draft budget even after EU’s warning letter last week (see below). Dollar/yen traded [..]


US Open Preview – Pound regains ground despite retail sales weakness; offshore yuan at 2-month lows ahead of China’s GDP growth

Posted on October 18, 2018 at 11:58 am GMT

Here are the latest developments in global markets: FOREX: The US dollar ran to a new 1-week high against the Japanese yen earlier on Thursday after FOMC minutes from the September 24-25 policy meeting affirmed the prospect of additional rate hikes until the end of 2019. However, the pair eased by 0.18% soon after to trade at 112.47. The US dollar index reversed lower as well, last seen at 95.51 (-0.07%). British retail sales fell by 0.8% in September, posting a larger decline than the 0.4% [..]


Chinese export data eyed as US-China relations hit a low point – Forex News Preview

Posted on October 11, 2018 at 9:33 am GMT

As the United States widens its criticism of China beyond the trade spectrum, investors will be looking to Chinese trade figures due on Friday for possible signs that the Trump administration’s attacks on the country are starting to weigh on the economy. So far, Chinese export growth has held up well following the introduction of US tariffs and counter levies by China in July. However, fears that the US and China are headed for a prolonged stand-off triggered a sell-off [..]


European Open Preview – Yen stages comeback amid China & Italy concerns

Posted on October 9, 2018 at 7:41 am GMT

Here are the latest developments in global markets: FOREX: The dollar index – which tracks the greenback’s performance against a basket of six major currencies – inched up by 0.11% on Tuesday, extending the gains it recorded in the previous session. This was largely owed to a tumble in the euro, which holds the largest weight in this index by far, as concerns around Italy remained in the spotlight. The yen was the best performer among the major currencies, with investors [..]


European Open Preview – Dollar unimpressed by jobs data; yuan softens as China opens stimulus taps

Posted on October 8, 2018 at 7:46 am GMT

Here are the latest developments in global markets: FOREX: The dollar is higher by 0.18% against a basket of six major currencies on Monday, recovering the modest losses it recorded in the previous session. The British pound posted notable gains after media reports suggested the EU is ready to offer the UK a “super charged” free trade deal. In China, the PBOC eased policy by cutting its reserve requirement ratios (RRR), triggering a tumble in the yuan. STOCKS: US markets were a [..]


Chinese trade data eyed as tensions with the US look set to escalate; Aussie also in focus – Forex News Preview

Posted on September 7, 2018 at 8:44 am GMT

Chinese trade figures for August will be made public on Saturday, with the numbers being scrutinized for any negative effects stemming from US tariffs. Meanwhile, the latest developments in the Sino-US trade spat are also putting the release high on investors’ radar. Elsewhere, attention will also turn to the Aussie due to its status as a barometer of broader risk sentiment, as well as Australia’s China-dependency which has rendered its currency as a liquid proxy for China “plays”. Analysts’ are forecasting [..]

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