Orbex - Forex Market Reviews

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US dollar hit by Trump's comments

The U.S. dollar fell sharply across the board yesterday after the U.S. President Trump in an interview...

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Gold gives up gains

The U.S. dollar lost ground yesterday amid a slow trading day with lack of any clear catalysts for the markets. The speech by Janet Yellen did not offer anything new for the markets...

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Inflation in Mexico set to rise on higher fuel prices

Mexico's inflation is likely to be boosted higher as the government announced that it would be hiking fuel prices by nearly one-fifth from January. The government said that fuel price ceilings will be capped between 14.2% - 20% above December's prices...

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Regional manufacturing indexes point to a stronger ISM manufacturing PMI

The Institute of Supply Management's Purchase Managers Index data is one of the most widely watched indicators. It is considered to be a leading indicator which gauges the strength in the U.S. manufacturing sector...

USDJPY Trims Gains. Support Seen At 104 - 103

A fairly quiet Monday saw USDJPY retreating from its recent highs ahead of the big events this week. USDJPY has retraced its gains and now trades just above the support level of 104. The markets look to another slow day today with no major events on the tap, leaving the bulk of trading on the technical aspects...

Dollar Supported, Heading Into FOMC

A quiet economic calendar today ahead of the FOMC and BoJ meetings this week could keep prices fairly flat. The US dollar looks well supported moving into the FOMC meeting first which could keep the euro subdued...


EURUSD Remains Supported Above 1.110

The Bank of England's decision to hold monetary policy steady saw the GBP surge against the US dollar, clearing 1.32 with 1.36 now coming into focus...

GBPUSD Moving Closer To Test 1.32. USDJPY Aiming For 104

Political developments in Japan and the UK saw the respective currencies react in the positive. While the GBP managed to close bullish on news that Theresa May is likely to be the new PM...

GBPUSD could test 1.32 on the descending wedge

Markets were trading cautiously yesterday after the initial positive sentiment flipped led by declines in Oil. ADP payrolls report yesterday showed 172k jobs being added to a better than expected jobless claims as well...

EURUSD eyes 1.07 on a breakout below 1.10

Risk aversion resumed after the US returned from holiday with investor sentiment turning sour after a third real estate fund suspended trading after an increase in investor redemptions. Sterling slumped as expected, fueled by BoE lowering capital buffer requirements...

Gold hits 1350 as expected

Gold prices rallied early today testing the 1350 resistance as noted over the past few days. Further upside is likely to continue if price clears the 1350 handle which could keep gold testing 1371.90...

British pound gives back gains on Carney's comments

The British pound fell yesterday evening sharply after comments of rate cuts and QE from BoE Carney. The euro also came under pressure giving back some of the gains made from earlier this week...


Dollar slips against peers for the second day

The US dollar gave up some of its gains for the second day yesterday as the markets continue to recover the Brexit led declines. The economic calendar today is busy with the UK's final GDP revision...

EUR & GBP stage a recovery

The euro and the British pound posted a modest recovery yesterday while the yen weakened against the dollar following two days of intense selling. Without a follow through here, the recovery is likely to be short lived...

UK votes to leave the EU

Markets plunge as Britons voted to leave the EU. Market volatility is likely to pick up in the aftermath of the EU referendum. Central bank speeches and further news flows are likely to keep the markets on the edge today...

Crunch time for EUR and GBP

UK polls open today at 0700 UK time and could see an initial knee-jerk reaction on the GBP and EUR. That said, the GBP remains at risk of a significant pullback, while the euro remains range bound within 1.120 and 1.130...

Watch the bullish pennant pattern in Gold

Gold prices might be looking weaker on the daily and weekly time frame, but the 4-hour chart shows a bullish pennant pattern which could signal further upside in gold. With the UK referendum vote due in less than a day, gold prices could remain in a range with the likelihood of a move in either direction...

GBPUSD likely to pullback from yesterdays gains

GBPUSD remains trading flat, but price action indicates a near term correction, following the rally yesterday to test the resistance at 1.4668 - 1.46470. The markets look to another day of quiet trading except Janet Yellens speech that could see some movements...


Gold fails to hold gains above 1300

In a volatile trading session, gold prices broke above 1300 yesterday to rise to 1315 but pulled back sharply. A bearish follow through from here could see near-term declines...

Gold back at 1300 as central banks stand pat on policy

Gold prices are back at the $1300 handle as the FOMC, and the BoJ stood on the sidelines. However, the upside in gold is looking weak, unless price breaks clear of the $1300 - $1303 handle...

USDJPY looks to FOMC and BoJ meetings

The Federal Reserve will be releasing its monetary policy statement, economic projections and holding a press conference later today. The markets remain jittery ahead of the meeting, but the attention is on USDJPY, which will later see the BoJ meeting early tomorrow...


Sideways market emerging across the board

Most of the currencies are moving into a sideways pattern being established. EURUSD has bounced off above 1.1217 support and remains caught within 1.138 resistance, while gold prices continued to extend gains but remain within 1290 and 1273 levels...

Gold prices likely to move sideways

The markets opened today on a mixed note with GBPUSD extending declines including the euro, on a stronger US dollar. However, the yen remains in favor with USDJPY seen testing the 106 levels yet again...

XAUUSD carving out a head and shoulders pattern

Gold, despite the recent bullish momentum, is carving out a bearish head and shoulders pattern with the neckline resistance at 1208 - 1210. A break below this level could extend declines towards 1100...


Rising wedge on EURUSD (H4) signals

Failure to make a convincing close following the inside bar, EURUSD's rising wedge pattern signals consolidation but opens the risk for a decline to 1.121 support that was broken during last Friday NFP report...

EURUSD goes nowhere but mind the inside bar

The dollar crosses were fairly flat yesterday with the sterling being the exception. While EURUSD formed a doji the day before, prices remained range bound in yesterday's trading forming an inside bar which portends a breakout in the near term...

Doji on EURUSD, Gold signals a correction

The US dollar was muted to Yellen speech in Philadelphia yesterday, but the doji candlesticks on EURUSD and Gold signal a near term correction in prices. In EURUSD, watch for a pullback to 1.120 region...


EURUSD, watch the 4-hour inverse head and shoulders

With the ECB meeting failing to offer any support to the euro yesterday, the markets now look forward to the NFP report today. Of particular interest is the potential and still evolving head and shoulders pattern on the 4-hour chart, with the neckline resistance at 1.1217...

ECB meeting, key risk for the euro today

The ECB meeting today will be the main catalyst for the EURUSD, which could either send the Euro above 1.1217, for a corrective move to 1.138 or a break below 1.1143 which could see further declines start to pile up...

GBPUSD weaker, looking ahead to manufacturing PMI

Sterling slipped yesterday evening sharply on the release of new Brexit opinion polls, underlining the fact that the weeks ahead could likely see increase volatility in the cable. As a result, the yen strengthened and so did gold...


  


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