HYCM - Forex Market Analysiss

HYCM
Gold holds steady near 6-week highs

Gold trimmed of the early gains to a six-week high and retreated to the $1262 region during early the European session, albeit has managed to hold...

HYCM
USD stays under pressure on politics

The US dollar inched up from a 13-month low against a basket of six major currencies touched in early trading, assisted by strongerthan-expected...

HYCM
Dollar rebounds from multi-month lows

The greenback selling pressure seems to have abated for the time being, with the key US Dollar Index (DXY) bouncing off 9-month lows...

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HYCM
EUR/GBP jumps to fresh yearly tops

The EUR/GBP cross was seen building on previous session's strong up-move and has now jumped to fresh yearly tops near 0.8875...

HYCM
USD: Fed being a little more hawkish

The dollar picked up over the past week, and this continued to be in reaction to a Fed that is being a little more hawkish...

HYCM
EUR sluggish in recent weeks

EUR has also been surprisingly soft in light of the convincing win by French President Macron...


HYCM
EUR/USD sinks to session lows

The single currency is now losing the grip vs. the buck, sending EUR/USD to test the area of daily lows in the 1.1240/30. Spot met extra downside pressure...

HYCM
Euro is consolidating below the 1.1300

In view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair still points to some consolidation...

HYCM
Dollar Index rebound looks plausible

In view of the analysts at Societe Generale, the Dollar Index correction appears to have come...

Oil closed strongly

Oil prices rallied after the EIA weekly report showed gasoline inventories declined the most at this time of the year for at least five years. Stocks dropped 3.26 million barrels to 238.2 million barrels. The market was also buoyed by a fall in US oil production, down 55kb/d to 8.46mb/d last week...

Gold hovering around 3-week high

Gold on Wednesday traded in a narrow band but maintained its bid tone and is hovering around 3-week high level touched on Tuesday to currently trade around $1364 region...

US Dollar weaker, finds support at 97.00

The greenback, tracked by the US Dollar Index, is now picking up some pace after finding some support in the 97.00 neighbourhood...


Gold rises to a four-week high

After hitting a four week high level of $1284 during early late Asian early European session, Gold prices remained bouyant for fourth session in a row and are currently holding steady around $1282 level...

Gold pauses after hitting three-week high level

Gold is seen retracing a bit from a 3-week high level of $1266 touched during Asian trading session on Thursday and is currently trading with only a marginal cut, at $1261...

Gold slides further, drops back below $128

Gold weakened on Monday and extended its weakness during European session and dipped back below $1280 to currently trade near session low of $1279...

Gold turns negative, slips below $1280

Gold has now turned lower, extending its weakness for fourth consecutive session, sliding further below $1280 level to currently trade near $1278, though off day's low of $1274.50...

S&P 500 futures recover to reclaim 2100 mark

Spoofed by drop in crude oil prices and a slump in Chinese stock market, broader US equity indices futures were trading lower before recovering, pointing to a higher open on Wednesday...

Oil dips in Asia on oversupply worries, API report eyed

Oil benchmarks on both sides of Atlantic rebounded sharply from Doha disappointment induced sharp losses the day earlier, only to find run through fresh offers this Tuesday, as the supply glut worries resurface following failed Doha negotiations last weekend...


European stocks look to extend gains

European stocks markets are looking to extend Wednesday risk-on rally, but appear wobbly, given the moderate weakness in UK FTSE. At the time of writing, Stoxx 50 futures were up 0.30%. Germany DAX and France’s CAC were up 0.10% and 0.25% respectively...

Gold off-weekly highs, USD gains on less dovish Yellen

Currently, gold trades -0.24% lower at 1235.65, having posted session highs at 1239.23 last hours. The yellow metal keeps the offered tone intact this session as the latest remarks from Fed Chair Yellen at her speech post-Wall Street close...

Brent oil struggles for direction as glut concerns persist

Brent oil is having a tough time in deciding which way to go as traders are worried production freeze by major producers will not be enough to counter excess supply situation...


Brent testing bids around $40 handle

Brent prices dropped in Asia and extended losses in early Europe after Iran news reduced probability of joint production freeze...

Gold: Bulls unstoppable, $ 1280 back on sight

Currently, gold rises 0.76% to 1273.70, quickly fading a spike to 1275.70 seen some minutes ago. The bullion found strong bids near 1266 region and regained momentum thereon, now extending higher towards thirteen - month highs of 1279.90...

Brent Oil strengthens as US oil rig count drops

Prices are trading above 100-DMA for the first time since July 3, 2015. A Baker Hughes report released in the late NY session on Friday showed the US energy firms cut oil rigs for an 11th week in a row to the lowest level since December 2009...


Brent oil rejected at 38.2% Fibo level

Brent oil futures failed again to take out $37.37 (38.2% of Oct high-Jan low), despite signs of a dip in the US oil production and talk of OPEC and non-OPEC meet on March 20th...

Gold found bids below 10-DMA, recovers losses

The demand for the metal remains intact after China rate cut increased prospects of retaliatory action by other central banks in Asia. A fiscally prudent budget by Indian government has also opened doors for a rate cut by Reserve Bank of India...

Gold: Offered again around key resistance, bulls losing steam

The immediate resistance is seen at 1240, above which prices could rise to 1253.32 (Feb 24 high). On the other hand, a break below 1220.60 (Feb 24 low) would open doors for a slide to 1212 (23.6% of Dec low – Feb high)...


Brent oil drops below $33 as production freeze optimism fades

Brent prices extended losses in Asia to a session low of $32.66/barrel as Iran’s criticism of Saudi-Russia production freeze dampened hopes of a more coordinated action by OPEC and non-OPEC producers...

European stocks open weak, Gold looks to revisit daily highs

The stock markets across Europe opened on a weak note, helping Gold sustain above its hourly 100-MA and attempt a re-test of the daily highs. Stoxx 50 index dropped 0.80% in early trading. Germany’s DAX and UKs FTSE dropped 0.7% each...

Gold: Recovery stalls at hourly 50-MA

Gold recovered from the daily lows in the US session, but the momentum ran out of steam at the hourly 50-MA located at USD 1215 levels...


  


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