Currency

In the week ahead, we’ll get the post Brexit Autumn Statement from the UK, which will provide us with a detailed outlook for the public finances. The statement is likely to lean towards increased borrowing and higher deficits, which could leave the UK vulnerable in the event of an economic shock. Meanwhile, over in the […]

Would Thanksgiving Rally Happen This Year? GOLD (XAUUSD) is currently weak, owing to another phase of a southward movement, which started a few months ago. The downtrend has been particularly strong since October. This week would be interesting because of a possibility of a Thanksgiving rally. Would it ever happen this year? Thanksgiving rally has […]

The USD/CHF managed to climb above the great psychological level at 1.0000 last week, and testing the resistance level at 1.0100. Price may be able to target the resistance level at 1.0200 this week, but any signs of weakness in USD may send the pair plunging below the psychological level at 1.0000. EUR/USD: This pair […]

Here’s the market outlook for the week: EURUSD Dominant bias: Bearish This pair went downwards last week, going below the resistance lines at 1.0650 and 1.0600. Since November 9, price has come down more than 700 pips, leading to a very strong bearish bias on the market. There is a possibility of further downwards movement, […]

Yesterday, all eyes were on Janet Yellen’s testimony on the economic outlook, delivered before the Joint Economic Committee. Yellen readied markets for an interest rate rise to come ‘relatively soon’, noting that the case for a hike would continue to strengthen as long as the macroeconomic environment remained strong.   She also signalled the need […]

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Today, we stand to see further advancement in US politics, with the new President meeting his first world leader, post-election, with Japan’s Abe passing through town. We’ll also see Janet Yellen of the Federal Reserve testifying before the Joint Economic Committee today at 4PM, which will be the first time we’ve publicly seen her since […]

Today, we have important data from the US with October manufacturing production. Recently, we have seen positive signals from Markit PMI Manufacturing and ISM Manufacturing and it will be interesting to see if this follows through into today’s data. Yesterday, US retail sales came in stronger than expected and as we stand, there is a […]

Yesterday, the pound fell broadly across the markets following a leaked memo pointed to the government not having a strategy in place for Brexit. Sterling fell on the news and the move lower was compounded by UK inflation coming out weaker than expected for October. Today, we have just had the release of UK labour […]

The USD/JPY is already in a bullish mode, as forecasted last week. Price consolidated on Friday and closed above the demand level at 106.50. The next target for bulls are located at the supply levels of 107.00, 107.50 and 108.00. The outlook for most JPY pairs is bullish for this week, and therefore, further bullish […]