FxPro - Forex Market Analysiss

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USD Bears Return

USD bears returned to the market as the tensions between North Korea and the US have greatly cooled this week. North Korean media reported that North Korea Leader Kim had delayed...

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USD Bears

On Wednesday, St. Louis Federal Reserve President Bullard (a non-voting member of the FOMC) stated in an interview that he, is opposed to further U.S. interest rate increases by the Federal...

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Oil & GBP slide lower

Oil continues to be under “over supply” pressure resulting in prices dipping to 7 month lows. Yesterday Oil suffered a 2% drop as the increased supply...

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Brexit Negotiations to be Triggered

Although Theresa May has stated before no deal is better than a bad deal, Chancellor said on Sunday that...

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Markets mixed following averted shutdown

Global equities rose with U.S. futures, fixed income retreated...

Gold Bears Test Near Term Major Support

Gold spot price has turned bearish since 27th Feb, after hitting a one-and-a-half month high of 1263.73...


GBPUSD Retreats Post Surge on Theresa May’s Hard Brexit Speech

Trump stated on Tuesday that a strong dollar is risky to the US economy, as it weakens competitiveness of US exports and corporate profits...

The dominant dollar

The dollar appreciated a further 1% through the course of Thursday in the wake of the Fed meeting result seen Wednesday evening. We saw some pull-back into the NY close and again through the Asia session...

Crossing the Bridge

The usual bridge day between Thanksgiving and the weekend arrives which will keep volumes light and ranges on the tighter side, all being well. That’s unless you are a retailer, in which case this is known as ‘Black Friday’, a phenomenon that has crossed the Atlantic in recent years...

Finally

Markets and polling are looking for a Clinton win today, but the margin in the polling is not sufficient to give any sense of comfort. This is more so after the experience of the Brexit vote back in June, where the polls were suggesting a win for the ‘remain’ side and the vote went the other way...

Gearing up for higher US rates

The move higher on the US 2Y bond yield has had a notable effect on currencies over the past week, with the yield pushing at levels last seen 4 months ago. This reflects the increased expectation that the Fed will move on rates at the December meeting...

Dollar Index Retraced after Testing the Significant Resistance at 96.00

The US CPI figures released last Friday were better-than-expected. The dollar index surged, broke three resistance levels at 95.40, 95.60 and 95.80 respectively...


Last Full US Economic Health Check Before FOMC

The dollar index has rebounded since 8th September after tested the support line at 94.50. On 13th September, the index broke the downtrend line resistance and held...

Oil Slide Weighs on Energy Stocks

The weekly US Crude Oil Inventories figure released yesterday was 2.276 million barrels, less than the previous figure of 2.501, yet surpassing the expectations of 0.921...

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Will Yellen Remain Dovish

Today, Fed Chairman Janet Yellen will make a speech at 14:00 GMT. In addition, the US Q2 GDP Growth second estimate (QoQ) annualized figure, and Goods Trade Balance for July, to be released at 12:30 GMT...

Silver Turns Bearish after Hitting a 7-Week Low

Gold has turned into a consolidation pattern after hitting the high of 1375.06 on 6th Jul, its highest level since Mar 2014, implying the bullish momentum is dwindling. If the dollar keeps on rebounding, then it will weigh on gold. If the dollar falls again, then gold will likely rebound...

Sterling Surges as UK Retail Sales Outperforms

UK Retail Sales (YoY and MoM) and Core Retail Sales figures (YoY and MoM) in July, released earlier today, outperformed. Sterling strengthened across the board...

Dovish Fed Weakens Dollar

The minutes for the FOMC meeting, released yesterday, resulted in the dollar weakening across the board. The Fed objectives are to maintain price stability and maximise employment...


Dollar Index Reversed Sharply

Economic data released on Friday 12th Aug underperformed, against the market expectations. The Retail Sales figure showed no growth in July, compared to a revised, robust, 0.8% gain in June. The Core Retail Sales reading plunged to -0.3% in July from, a strong, revised 0.9% in June...

GDP and PMIs Figures Show Economic Fragility

The Eurozone GDP QoQ rose by 0.3% in the second quarter, only half comparing to the figure of 0.6% in the first quarter. Eurozone GDP YoY was 1.6%, more than the expectation of 1.5%, yet still below the 1.7% seen in Q1...

Shaping the Post-Brexit World

Those that were hoping the Brexit referendum would allow us to move on must be sorely disappointed. The world and the UK in particular starts the week facing more uncertainty than a week ago...


Positive but Nervous

By the end of this week, a great deal of uncertainty will have been removed from markets (UK markets in particular), with the UK referendum on EU membership over and done with. Weekend polls have removed the lead of the leave camp...

Risk aversion abounds once more

All the price action seen during the Asia session has been indicative of markets hunkering down and reducing risk. The yen is gearing up for an attack of the year’s 105.55 low on USDJPY, whilst sterling has continued the weaker tone of Friday...

New battle lines drawn in oil

We jump into the new quarter with both feet today, Friday’s US Employment Report induced volatility now behind us. It’s notable that the initial gains after the data have been partially unwound (dollar index), with the dollar weakness most prevalent against the yen...


A dollar pause

The sustained rally in the dollar seen over last week came to a halt yesterday, the dollar index ending its run of 6 consecutive sessions of gains. This was predicated in part on signs that Fed officials were becoming more confident on the ability of the economy to shoulder a further increase in rates this year...

Pushing the dollar higher

The dollar has been in the ascendency over the past four sessions and finds itself firmer again overnight. We have seen a slow creep of interest rate differentials in favour of the dollar, with the 2 year bond spread...

Sterling suffering again

It was a relatively calm end to the week in FX markets last week, but this was against the backdrop of a structural change in sentiment towards the dollar after the Fed meeting and their re-assessment of the longer-term prospects for the economy and rates...


Changing the Market Thinking

We have seen a change in the tone to FX markets this week, with the dollar index moving to new lows for the year, and is now down a cumulative 5% since the start (calculation helped by close at 100.0!). Remember, once again, many started the year with a bullish dollar view...

Fed moving to Reality

The common force yesterday was the revising of forecasts to the reality of slower growth, both domestically and globally. This was seen both by the US Federal Reserve and the UK Chancellor has he presented his budget...

ECB words dominate actions

The phrase of yesterday was kitchen sink, which for those not familiar, comes from the English expression for throwing everything at a problem. That was the approach of the ECB to the slow growth, low inflation and falling inflation expectations of the Eurozone...


  


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