EUR/USD Weekly Outlook
EUR/USD's decline attempt was contained at 1.0494, above 1.0493 support and rebounded. Initial bias stays neutral this week first. On the upside, break of 1.0630 resistance will argue that pull back from 1.0828 is completed. Also, rise from 1.0339 could possibly be resuming. In that case, intraday bias will be
Source: Action Forex (ALL) | 4 Mar 2017 | 5:00 am
USD/JPY Weekly Outlook
USD/JPY rebounded strongly last week but failed to take out 114.94 resistance. Initial bias stays neutral this week first. Overall outlook is unchanged. Choppy decline from 118.65 is seen as a correction. Break firm break of 114.94 will indicate that it's completed with a double bottom pattern (111.58, 111.68). In
Source: Action Forex (ALL) | 4 Mar 2017 | 4:54 am
GBP/USD Weekly Outlook
GBP/USD dropped sharply to as low as 1.2213 last week before forming a temporary low there and recovered. Initial bias is neutral this week first. IN our view, consolidation pattern from 1.1946 should have completed with three waves to 1.2705 already. Hence, we'd expect consolidation pattern from 1.2213 to be
Source: Action Forex (ALL) | 4 Mar 2017 | 4:50 am
USD/CHF Weekly Outlook
USD/CHF edged higher to 1.0145 last week but quickly lost momentum. Initial bias is neutral this week first. As long as 1.0008 minor support holds, further rise is mildly in favor in the pair. Above 1.0145 will target a test on 1.0342 key resistance. Based on neutral medium term outlook,
Source: Action Forex (ALL) | 4 Mar 2017 | 4:43 am
AUD/USD Weekly Outlook
AUD/USD's sharp decline last week suggests that rebound form 0.7158 is completed at 0.7740 already. As the pair drew support from 55 day EMA and recovered, initial bias is neutral this week first. Nonetheless, further decline is expected as long as 0.7635 minor resistance holds. Break of 0.7542 and sustained
Source: Action Forex (ALL) | 4 Mar 2017 | 4:43 am
USD/CAD Weekly Outlook
USD/CAD jumped to as high as 1.3446 last week and the development indicates completion of corrective fall from 1.3598 at 1.2968. As a temporary top is in place at 1.3436 with 4 hour MACD crossed below signal line, initial bias is neutral for some consolidations first. But downside of retreat
Source: Action Forex (ALL) | 4 Mar 2017 | 4:42 am
GBP/JPY Weekly Outlook
GBP/JPY continued to gyrate in rang of 138.53/142.79 last week and outlook is unchanged. Initial bias stays neutral this week first. Price actions from 148.42 are seen as a corrective pattern. Below 138.53 will bring deeper fall, possibly through 136.44 support. But strong support could be seen at 50% retracement
Source: Action Forex (ALL) | 4 Mar 2017 | 4:41 am
EUR/JPY Weekly Outlook
EUR/JPY's strong rebound last week argues that corrective fall from 124.08 has completed at 118.23 already, after defending 118.45 cluster support (38.2% retracement of 109.20 to 124.08 at 118.39). Initial bias remains on the upside this week for 121.32 resistance first. Decisive break there will confirm and target 124.08 high
Source: Action Forex (ALL) | 4 Mar 2017 | 4:40 am
EUR/GBP Weekly Outlook
EUR/GBP's strong rebound last week and break of 0.8590 minor resistance argues that choppy decline from 0.8851 has completed at 0.8402 already. The development indicates that corrective price actions from 0.8303 is not completed yet. Initial bias is turned back to the upside for 0.8851 and possibly above. Nonetheless, price
Source: Action Forex (ALL) | 4 Mar 2017 | 4:39 am
EUR/CHF Weekly Outlook
EUR/CHF rebounded strongly last week and hit as high as 1.0713 before closing at 1.0692. The breach of 1.0706 minor resistance indicates short term bottoming on bullish convergence condition in 4 hour MACD. This is also taken as an early sign of trend reversal after defending 1.0620 key support level.
Source: Action Forex (ALL) | 4 Mar 2017 | 1:43 am
Weekly Economic and Financial Commentary
The economic calendar was packed with data releases this week, and speeches by Federal Reserve officials continued to prep the markets for an increase in interest rates "relatively soon." Market expectations have responded, with the Fed fund futures pricing in a 96 percent probability that the Fed will raise rates
Source: Action Forex (ALL) | 3 Mar 2017 | 10:46 pm
The Weekly Bottom Line
It was an exciting week in markets this week. Alongside a much awaited tech IPO, there were plenty of first-tier data (both domestic and international), central bank speeches, and the inaugural presidential address to Congress. International data came in broadly constructive, while U.S. data came in even more robust. Alongside
Source: Action Forex (ALL) | 3 Mar 2017 | 10:33 pm
Gold Tentatively Breaks Down as Fed Signals March Hike, Market Complacency Reigns
The price of gold extended this week's losses early on Friday as several Federal Reserve officials, including Fed Chair Janet Yellen, signaled in prepared speeches the likelihood of a mid-March rate hike.
Specifically, Yellen said, "at our meeting later this month, the committee will evaluate whether employment and inflation are continuing
Source: Action Forex (ALL) | 3 Mar 2017 | 10:24 pm
AUD/USD Finally Dips Towards 0.75 ahead of RBA, NFP
The Australian dollar is going to be in focus next week. Retail sales will be released on Monday while the Reserve Bank of Australia will be making a decision on interest rates a day later on Tuesday. Sales are expected to have bounced back 0.4% in January after an unexpected
Source: Action Forex (ALL) | 3 Mar 2017 | 10:21 pm
Week Ahead Jobs and Fedspeak to Guide Dollar
Comments from members of the U.S. Federal Reserve have put a rate hike in March back on the table. Lack of details on the Trump administration pro-growth policies had reduced the probability of the central bank raising interest rates but the words from Chair Yellen and other influential members now
Source: Action Forex (ALL) | 3 Mar 2017 | 10:18 pm
U.S. Services Sector Activity Surprises on the Upside, Improves in February
This is a very healthy report. The nonmanufacturing index surprised on the upside and is now at the highest level since late-2015, with the headline print accompanied by comments which continue to point to a positive outlook on business conditions, hiring, and the economy overall. Along with its manufacturing cousin
Source: Action Forex (ALL) | 3 Mar 2017 | 11:46 am
Trade Idea Wrap-up: USD/CHF - Hold long entered at 1.0065
As the greenback has eased after marginal rise to 1.0146 yesterday, suggesting minor consolidation below this level would be seen, however, as long as 1.0095-00 holds, mild upside bias remains for recent erratic rise from 0.9661 to resume after consolidation, above said resistance at 1.0146 would extend further subsequent gain
Source: Action Forex (ALL) | 3 Mar 2017 | 10:41 am
Trade Idea Wrap-up: GBP/USD - Sell at 1.2350
As cable has remained under pressure after this week’s drop below previous support at 1.2347 (now resistance), adding credence to our view that the decline from 1.2706 top is still in progress and may extend further weakness to 1.2200, however, near term oversold condition should prevent sharp fall below 1.2170-75
Source: Action Forex (ALL) | 3 Mar 2017 | 10:37 am
Trade Idea Wrap-up: EUR/USD - Hold short entered at 1.0570
Euro’s intra-day rally suggests caution on our short position entered at 1.0570 but as long as intra-day resistance at 1.0574 holds, mild downside bias remains for another retreat later, below 1.0520-25 would bring another fall towards 1.0493 support (last week’s low), however, break there is needed to confirm early decline
Source: Action Forex (ALL) | 3 Mar 2017 | 10:35 am
ECB & RBA Policy Meetings, US Employment Report, Other Key Data in Focus
Next week's market movers:
In Eurozone, we expect the ECB to remain on hold and maintain its dovish bias amid non-accelerating underlying inflationary pressures.
The Reserve Bank of Australia is forecast to stand pat as well. We share this view, following recent comments from Governor Lowe and mixed economic data.
Source: Action Forex (ALL) | 3 Mar 2017 | 10:30 am
ECB QE Hopes Brings Life Back to Stocks, BoJ On Deck
Yesterday's ECB-fueled rally caught a strong bid in Asia as the Nikkei popped by 5.88%; but will the Bank of Japan deliver next week?
Source: DailyFX - Forex Market News | 22 Jan 2016 | 9:19 am
Sticky Canada CPI to Fuel Larger USD/CAD Correction
Signs of sticky inflation in Canada may stoke a larger correction in USD/CAD as it dampens bets for a Bank of Canada (BoC) rate-cut in 2016.
Source: DailyFX - Forex Market News | 22 Jan 2016 | 3:00 am
ECB Stimulus Intent Leads Oil, Stock Rallies while Gold Flattens
Risk rally accelerated on ECB’s promise of stimulus. Oil surged above $30 and copper held up. Gold stayed sideways before next week events
Source: DailyFX - Forex Market News | 22 Jan 2016 | 2:44 am
Euro Vulnerable to Deeper Losses on Draghi Comments, PMI Data
The Euro may continue to push lower after dipping to a two-week low on further dovish comments from ECB President Draghi and soft PMI data.
Source: DailyFX - Forex Market News | 22 Jan 2016 | 2:41 am
GBP/USD Bearish Outlook Clouded With Signs of Exhaustion
GBP/USD stands at a risk for a further decline as the BoE remains on hold but, the near-term decline in the exchange rate appears to be losing steam.
Source: DailyFX - Forex Market News | 21 Jan 2016 | 1:25 pm
Stocks Rally on Draghi, But How Long Will it Last?
Mario Draghi gave us a familiar tune when he alluded to a potential increase in QE in March. But how long with this rally last?
Source: DailyFX - Forex Market News | 21 Jan 2016 | 9:28 am
ECB Preview: No Change Today, Maybe in March; Depends on EUR/USD
It's highly unlikely that the ECB acts today, but it's almost equally as likely that the ECB will keep open the door for policy action in the future.
Source: DailyFX - Forex Market News | 21 Jan 2016 | 7:00 am
Euro May Fall as Risk Appetite Firms on Dovish ECB
The Euro may decline as risk appetite firms – boosting the Aussie Dollar while punishing the Yen – if ECB President Draghi hints at stimulus expansion ahead.
Source: DailyFX - Forex Market News | 21 Jan 2016 | 2:24 am
EUR/USD Stuck in Tight Range Ahead of ECB; Short-Squeeze on Tap?
EUR/USD stands at risk for a similar reaction to the ECB’s December meeting as the pair remains stuck in a narrowing range.
Source: DailyFX - Forex Market News | 21 Jan 2016 | 2:00 am
Oil and Stocks Lead the Asian Rebound while Gold Calms
Risk-on drove Asian session with rebound in oil, copper, stocks. Gold calmed though interests stick. Volatility besets oil before data
Source: DailyFX - Forex Market News | 20 Jan 2016 | 10:56 pm
USD/CAD Remains Overbought Following BoC- ECB Takes Spotlight
The neutral tone stuck by the BoC may boost the appeal of the loonie ahead of Canada’s CPI report as it dampens bets for additional monetary support.
Source: DailyFX - Forex Market News | 20 Jan 2016 | 1:10 pm
The Bears are Out of Hibernation: What Might Send Them Away?
Global stocks are continuing to face pain and misfortune, and even good news is getting shrugged off. What's behind all of this bearishness, and what may cause it to go back into hibernation?
Source: DailyFX - Forex Market News | 20 Jan 2016 | 9:10 am
Risk FX Hit Again as Global Stocks Enter Bear Market Territory
Markets are coming more unglued by the minute - there is clearly a behavioral shift under way.
Source: DailyFX - Forex Market News | 20 Jan 2016 | 7:45 am
Pound Eyes Wages Data for Policy Clues, US Dollar May Rise on CPI
The British Pound is looking to UK wage growth data to inform monetary policy expectations. The US Dollar may rise as core inflation hits a three-year high.
Source: DailyFX - Forex Market News | 20 Jan 2016 | 12:59 am
IEA Report Sends Oil to 12-Year Low, Gold Leverages on Volatility
Frenzied market volatility elevated gold while copper receded. Oil lingers at record low after IEA glut report, awaits US DoE data
Source: DailyFX - Forex Market News | 19 Jan 2016 | 11:19 pm
GBP/USD Risks Further Losses on Slowing U.K. Job/Wage Growth
A dismal job/wage growth report out of the U.K. may produce fresh monthly lows in GBP/USD as it drags on interest rate expectations.
Source: DailyFX - Forex Market News | 19 Jan 2016 | 11:00 pm
Hong Kong Dollar Torn Between China and Markets
The Hong Kong Dollar has tumbled versus the US Dollar the opening weeks of 2016 as the markets assess the stability of China’s financial conduit against growing market pressures.
Source: DailyFX - Forex Market News | 19 Jan 2016 | 9:14 pm
GBP/USD Remains Heavily Oversold- NZD/USD Rebound at Risk
GBP/USD continues to search for support and remains heavily oversold as the BoE looks to further delay its normalization cycle.
Source: DailyFX - Forex Market News | 19 Jan 2016 | 1:20 pm
Chinese GDP Falls Again: This Trend is Not a Friend
Fears of a bigger-picture Asian slowdown were confirmed last night as Chinese GDP falls yet again. But will regulators respond?
Source: DailyFX - Forex Market News | 19 Jan 2016 | 9:47 am