Crossing the Bridge

25 November, 2016

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. Overnight we’ve seen inflation data from Japan released, which showed prices rising by a firmer than expected 0.1% YoY, although the BoJ’s favoured measure (ex-fresh food) remains firmly in negative territory at -0.4% YoY. Sterling will have one eye on the release of revisions to Q3 GDP, which initially showed a 0.5% gain. The pound continued its positive run yesterday, cable holding above trendline support, with EURGBP holding onto the recent downtrend and the move below 0.85. The strong dollar tone has also undermined gold, with the push below 1200 being sustained yesterday. This has proven to be a key level of support in recent weeks and months, which now turns into near-term resistance.

We do see some minor US data later today in the form of Services PMI at 14:45, with trade data before that at 13:30 GMT. Neither are major market events and for now at least, we are seeing a more consolidative tone to the dollar, which has corrected lower and more so against the Aussie, kiwi and yen. There are no speaker either side of the Atlantic scheduled for today who are likely to impact currencies.

Source link  
Dollar has a potential of 5% rally

The dollar rewrote 13-months highs on Friday to a basket of six major currencies, adding 0.25% after gaining 0.5% on Thursday. The further growth of...

BoJ cautions keep forex calm

In the currency market, the dollar was under some pressure following the data that indicated a weakening of the inflation in the Eurozone. The slowdown in prices...

Stocks are growing, Bonds under pressure

The situation in the world markets looks controversial. Shares are growing after strong reporting of companies. The shares of Alphabet (#Google) jumped by 3.6% after...

The potential of USD growth is limited

Powell's speech with the semiannual report in the U.S. Congress contained an optimistic view on the economic outlook. Such a tone has reduced fears that...

Oil drops back into June price range

The WTI Oil price fell from $72.98 to $68.68 yesterday despite the inventories data showing a draw of -12.6M barrels which is the biggest since September 2016...

Dollar is weaker today after rejection 95.50

The USD has weakened against the majors after the DXY rejected the 95.50 level in yesterday's trading creating a technical double top and is now trading down...

Stronger IT, softer financials

Stock markets continue to strengthen with increased demand for high-tech companies. The NASDAQ100 closed a second day in a row...

USD weakens through the day yesterday

The USD weakened further overnight after the move began in the US trading session yesterday. USDJPY moved down under the 110.000 level after...

Markets Focus on US and UK GDP

UK Gross Domestic Product (QoQ) (Q1) is expected to come in at 0.3% from 0.4% previously. Gross Domestic Product (YoY) (Q1) is expected to be...

In the past 24 hours Bitcoin has lost -1.14% and reached $6214.94350641. Open your trading account with the best cryptocurrency brokers on special terms today.

In the past 7 days the EUR/USD pair has lost -1.6984% and is now at $1.1407. Start trading and making money on Forex today.

In the past 7 days Ethereum has lost -27.62% and is now at $279.331353458. Have the most popular cryptocurrencies compared online 24/7.

Top Brokers offering Forex Market Analysis

Forex Currencies Forecasts

Top 10 Forex Brokers 2018

# Broker Review
5FIBO GroupFIBO Group78%