Dollar Skirts 13-Month Lows
The dollar struggled against most of its trading partners including the euro, yen and pound on Monday morning, skirting 13-month lows. The greenback was weighed by political woes which seem to be plaguing the United States since President Trump took office in January. The most recent trouble for the President came this weekend with the resignation […]
GBP/USD Remains In Uptrend From 1.2589
GBP/USD remains in an uptrend from 1.2589. The pullback from 1.3125 could be treated as a correction of the uptrend. A deeper decline towards the bottom trend line of the price channel on its 4-hour chart is possible in a couple of days. As long as the channel support holds, the uptrend could be expected […]
Sensex & Nifty At All-Time High; FMCG Stocks Lead
After opening the trading day on a positive note, Indian share markets continue to trade firm in the morning session. Gains are largely seen in stocks from consumer durables sector stocks and FMCG sector. Meanwhile, metal stocks and healthcare stocks are trading in the red. The BSE Sensex is trading higher by 192 points and the NSE Nifty is trading higher by 50 points. The BSE Mid Cap index is […]
Weekly Gold Forecast – Monday, July 24
Gold prices settled at $1254.70 an ounce on Friday, gaining 2.07% on the week, as recent volatility in global equity markets and new worries about U.S. politics lent support to the precious metal. Fluctuations in the wider markets usually give a temporary boost to safe-haven gold but continued weakness in the dollar may have stronger […]
Fed Preview: Transitory Or Not Transitory? This Is The Question
Is inflation still transitory? This is the main question that markets will want to hear an answer to in the upcoming Fed decision on July 26th. The FOMC convenes in one of its “in between” meetings. The meetings in June and in September consist of new forecasts and a press conference by Fed Chair Janet […]
FX Week Ahead: FOMC, Australia Inflation
As the currency markets progress into the final weeks of July, the main highlights of the week include the FOMC meeting on Wednesday. The Fed is expected to keep monetary policy on hold. Investors are likely to focus on any forward guidance that will be issued by the Fed this week. Questions still remain on […]
Euro Resilience To Be Tested By PMI Data, ECB Commentary
The preliminary set of July’s Eurozone PMI surveys headlines the data docket in European trading hours. Consensus forecasts suggest the pace of factory and service sector activity growth will slow for a second consecutive month to register at the weakest since February. An even softer result may be in the cards if the outcomes echo a recent string of […]
Gold Price Broke Above Trend Line Resistance
XAU/USD recently broke above the support-turned-resistance trend line at 1237 on its daily chart, indicating that the downside movement from 1295.94 had completed at 1204.77 already. On the upside On the 4-hour chart, the gold price ran in a bullish price channel with support at the bottom trend line at around 1241. As long as […]
FX Spec Positioning Hits Multi-Year Extremes As Dollar Tumbles, Euro Soars
Following the latest weekly battering of the USD, which has tumbled to near one year lows, the latest CFTC net spec positioning (which traditionally represents a lagging picture of price trend and has very limited, if any, informational value) saw a continuation of recent extreme moves, nowhere more so than in Euro and Japanese Yen […]
Macro Mondays: Credit Basics
Oh, credit. Seems like you can’t sit in front of the TV for any length of time without seeing some advertisement for a credit card or something to use to monitor your credit in the likely event that you are irresponsible. Many of us kid ourselves when we say we know a thing or two […]
