Sep 16: a big opening gap

16 September, 2013

US dollar fell versus its major counterparts as former Treasury Secretary Lawrence Summers quitted the race the race to lead the Federal Reserve damping the expectations for an early halt to expansionary monetary policy. Fed Vice Chairman Janet Yellen, another potential candidate for the post, is considered to be more QE-friendly. In addition, the risk appetite improved as US and Russia agreed on framework to securing Syria’s chemical weapons by the middle of 2014.

EUR/USD is consolidating in the $1.3360/80 range after having opened the week with a 50-pips bullish gap. ECB president Mario Draghi is due to speak in Berlin today at 8:00 GMT – we’ll see if the risk-on sentiment persists after his comments. Market will also pay attention to the euro zone inflation data at 9:00 GMT. GBP/USD has also opened with a 50-pips gap up at $1.5930 and rose to $1.5960.

USD/JPY opened with a 55-pip gap down, but then recovered to 99.10 after closing at 99.23 on Friday. It’s a bank holiday in Japan today.  USD/CHF opened with more than 60-pip gap down and then rose to 0.9260. AUD/USD opened with an almost 80-pip gap up, then spiked to $0.9392, but then returned to the top of the Ichimoku Cloud in the $0.9320 area. NZD/USD opened with a 70-pip gap up, but then returned to the 200-day MA at $0.8180. USD/CAD has formed a relatively small bearish gap and was pressed to the 1.0300 mark.


Source link  
Will EUR/JPY resume the downtrend?

EUR/JPY spent more than a month correcting up after its spike down at the start of January. It seems that the time the downtrend finally resumes is getting nearer...

How the Fed may affect the USD?

As you may know, the Federal Reserve will announce its official rate and publish its monetary policy statement today at 21:00 MT time. The release...

Will oil outperform its triumph?

During 2018, the world was waiting for oil at $100. However, the oil market ended the year at lows of 2017. Will 2019 bring the momentum to oil prices...


Which assets will outperform in 2019?

The market sentiment may be positive or negative. When investors have risk appetite, they choose higher-yielding currencies like the AUD...

Bulls going to deliver wave 5

There's a possible triangle pattern in wave 4. So, if the price fixates above 6/8 MM Level, bulls are likely going to deliver wave 5. In this case, we should...

Market going to climb even higher

The last "Flag" pattern has been broken, so the price is rising. The main intraday target is the nearest resistance at 1.3345 - 1.3374. If a pullback...


Euro area's PMI

The euro area will release manufacturing and services PMI at 10:00 MT time on August 22. PMI or Purchasing Managers Indexes come from surveys of purchasing managers in manufacturing...

RBA meeting will set the way for AUD

The monetary policy of the Reserve Bank of Australia (RBA) is the key driver of the Australian dollar. The RBA will announce the results of its August meeting...

German IFO business climate

German Ifo business climate will be out at 11:00 MT time on July 25. Germany is the leading economy in the eurozone, so significant changes...

  


Share it on:   or