Author Archive: Jeremy Parkinson
EUR/USD: Buyers Readying For A Breakout Of The A-A Channel
Previous: Yesterday, Monday, trading on the euro/dollar pair closed slightly up. Before buyers decided to launch an assault on the B-B channel, they twice returned to the LB balance line. Given that exchanges were closed in the US and Canada due to national holidays, trader activity on the Forex market was low. Comments made by […]
Pound Gains On Revised Labour-Cost Number
The Office for National Statistics on Monday said it made an error during the original calculations and that cost per unit output stood at an annual 2.4 percent in the second quarter, not the previously reported 1.6 percent. Also, the first quarter number was revised up to 3.5 percent, the fastest in almost four years. […]
Trader: The Dollar Bounce Is Unlikely To Be Over Yet
Having predicted yesterday that the rout in the Turkish Lira is only just starting, and will reverberate among – and sink – other emerging market currencies (so far the USD/TRY move has been largely ignored by virtually everyone), today Bloomberg macro strategist Mark Cudmore writes that while he remains bearish the dollar over the long-term, […]
Dollar Pullback Extended
The US dollar’s advance faltered before the weekend after a rise in average hourly earnings and a new cyclical low in unemployment and underemployment initially fueled greenback buying. There is no doubt the data was skewed by the storms, though the upward revision to the August hourly early cannot be attributed to the weather distortions. The reversal in the dollar before the […]
RBA Not Expected To Change Rates In The Near Term
Summary: RBA maintains interest rates at 1.50% RBA signals that interest rates will remain steady in the near term RBA upbeat on unemployment, expects wage growth to rise Low inflation on account of oil prices, but wage growth could see giving rise to inflation GDP growth consistent with a pickup in non-mining investment The Reserve […]
GBP/USD Daily Analysis – Tues. October 10
GBP/USD stays in a bearish trend line on the 4-hour chart and remains in the downtrend from 1.3657. As long as the price is below the trend line, the bounce from 1.3027 could be treated as consolidation of the downtrend. Further decline is still possible after the consolidation and next target would be at the bullish […]
Markets End On Softer Note Following Dismal NFP Numbers
Wall Street and European stocks finished mostly lower on Friday after U.S. employers shed jobs in September for the first time in seven years, as weather-related disturbances weighed on hiring. Nonfarm payrolls fell by 33,000 in September, confounding expectations of a 90,000 gain, data from the Labor Department revealed Friday. The August figures were revised […]
Gold Prices Rise But Gains May Be Fleeting As FOMC Minutes Loom
Gold prices rose as the US Dollar pulled back and front-end Treasury bond yields stalled after hitting the highest the level since June 2009. The move appears to be corrective as markets digest two weeks of building Fed rate hike speculation before minutes from September’s FOMC meeting hit the wires tomorrow, offering traders fresh direction cues. Crude oil prices marked time after […]
WTI Crude Oil And Natural Gas Forecast – Tues. Oct. 10
WTI Crude Oil The WTI Crude Oil market rallied initially on Monday, but found the $50 level to be a bit too resistive. After the very bearish candle that formed on Friday, it looks very likely that we are going to continue to go lower. If we break down below the $49 level, then I […]
