Daily Market Analysis by ForexMart

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Mon Nov 14, 2016 8:59 am

EUR/USD Fundamental Analysis: November 14, 2016

Euro against greenback has been in a tight spot last Friday as the USD rallies after the negative reaction from the market the prior week. Trump acted on a low key instead of further alleviating the problems of side-by-side negative comments and accusations regarding his campaign especially the issue about the Obama Healthcare Plan which he strongly believes he could improve the U.S. Economy.

Trump has also mentioned to carry on the Federal Reserve where the next Fed policy would go on as planned. The market is agitated with the next Fed rate hike while they are positioning for quite some time now for the next prices. This has also been favorable for U.S. Dollars while giving tension for the pair as it closed at 1.0850 level last week. The price was able to break this Monday morning at 1.0780 level.

The speech of Draghi later this day is what to look out for during the U.S. Session where the market could get hints on the next step whether there would be cut on QE some time in the future. However, it is known the Draghi may not talk about the monetary policy, then the market would be directed by the figurative trends and current cash flow in the market.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Mon Nov 14, 2016 9:57 am

November 14, 2016

Australia Should Scrap its Largest Bank Notes like India - UBS Group AG

UBS analysts are saying that Australia should also scrap its big bank notes and follow in India’s footsteps, since this would be ultimately beneficial for the Australian economy as well as for Australian banks. Some projected benefits would include increase in bank deposits and tax revenues, while decreasing the occurrence of crime and fraud. India had previously made a move to remove its large banknotes as part of its crackdown on the country’s black economy as well as to counter tax evasion. The European Central Bank also stated last February that the central bank was discussing on removing 500 EUR banknotes since these high-value bills were often touted to be used for criminal and illegal purposes.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Mon Nov 14, 2016 10:39 am

November 14, 2016

Higher volumes of exports boosted Japan's economy

The Japan's economy have seen greater improvement from the month of July until September due to a higher number of international trades. The country's GDP escalated to 2.2% within three months. Japan is greatly concern about the anti-free trade rhetoric supported by the newly-elect US President D. Trump since it is expected that this campaign would bother the Japanese region.

Subsequent to the results of the U.S elections, the yen curtailed versus the dollar. Hence, the country's good became cheaper in abroad, this brought positive talks for the foreign exporters. The world's third-largest economy accumulated a better-than- expected result of 0.5% while the forecast showed 0.2% only. However, some analysts who stated that the nation is relying much on exports and considered that these are windfalls only.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Mon Nov 14, 2016 10:57 am

November 14, 2016

U.S. Dollars Strengthens Unabatingly That May Lead to Inflation

Greenback continues to surge with the unexpected win of Trump that signals inflation to take place sometime in the future. It climbed as high as 99.247 on Monday during Asian session from 97 handle prior to election. His principles advocated during his campaign such as protectionism, changes in immigration, infrastructures and debt spending set inflation back to the market at the same time, this would cause the U.S. Dollars to further appreciate in value. The U.S. 10-year Treasury yield rose more than 2 percent from 1.80 percent before election. This surge is expected to continue with short-term trend moves up, it is anticipated for U.S. Dollars to get stronger.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Tue Nov 15, 2016 5:03 am


USD/JPY Technical Analysis: November 15, 2016

The JPY was subject to selling pressure following a speech from the Bank of Japan’s Haruhiko Kuroda. The Japanese yen was unable to receive substantial support from domestic demand in spite of the positive output for the Japanese GDP for the third quarter. Meanwhile, the USD was subject to increased buying pressure, causing the USD/JPY pair to increase in value.

The currency pair’s value continued to trade along the upper range, with the pair testing the 108.00 range, where it remained until the end of the London trading session. The New York session saw the USD/JPY break through its previous level and buyers were able to extend profits beyond the 108.00 region.

The USD/JPY’s 4-hour chart shows the pair going well beyond its current moving averages, while the pair’s 50, 100, and 200 EMAs showed a significant increase in value. Resistance levels for the USD/JPY is currently at 108.50, while support levels are expected to be at 108.00.

The pair’s technical indicators are all situated at the positive region. The USD will have to go beyond 108.00 in order to maintain the pair’s bullish stance and to keep the pair going up to 108.50. Sellers are also expected to make a comeback in the market, with the 106.50 as their primary aim for the USD/JPY.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Tue Nov 15, 2016 5:28 am


EUR/USD Fundamental Analysis: November 15, 2016

The USD has been recently exhibiting a steady increase, causing the EUR/USD pair to open this week’s session with a weaker value and went even lower as the previous session progressed. The currency pair closed last week’s session at its support levels of 1.0850 and the market was expecting further support levels at 1.0800. However, the EUR/USD started out the previous trading session at below 1.0800 in the light of a broadly increasing USD value.

The EUR/USD further decreased in value, going through 1.0750 at the London session and tested support levels at 1.0700 at the start of the New York trading session. The movements of the EUR/USD were somewhat muted during the course of the trading session, mainly due to the significant strength of the USD plus Draghi opting to stay mum with regards to the ECB’s future plans on its monetary policies. The currency pair spent the rest of the New York session consolidating after the market chose to keep a positive outlook for the Trump presidency, and the USD is expected to have a continuously positive reaction in the market.

The market is now expecting the release of Germany’s preliminary GDP during the European session, as well as the retail sales data from the US to be released during the New York session. These are expected to confirm market speculations with regards to the Fed rate hike in December.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Tue Nov 15, 2016 5:46 am


EUR/GBP Technical Analysis: November 15, 2016

The EUR/GBP pair lost its sellers below the 0.86 region for the third consecutive session, maintaining the currency pair’s stance over the key levels in the light of a highly active economic calendar.

The market is expecting the release of Germany’s GDP report for the third quarter of 2016. The CPI data for the UK is also expected to exhibit an increased cost of living for the nation at 1.1% for October. The GDP report for the European Union is also expected to get significant attention from market players as it gets released later in the session.

The increased activity in the economic calendar could lead to an increase in stock market activity, which will then have a significant impact on the demand for EUR. The EUR/GBP is currently trading at the 0.8610 range, and incessant bounces from the 0.86 handle could possibly cause the pair to break through the handle and could lead the pair to trade at 0.8652 points and 0.85.

On the positive territory, if the pair manages to go above its 100-DMA of 0.8628 then this could cause the pair to go over 0.8664 and possibly even reach its zero figure of 0.8700.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Tue Nov 15, 2016 6:15 am


GBP/USD Technical Analysis: November 15, 2016


The Great Britain did not issued macroeconomic releases as of yesterday. The market is described to be in a risk-off sentiment, however, it made an unsafe fall back for the pound as it swings around on its fresh lows. The unfavorable data of China’s economic activities relatively affected the GBP. The sterling further made a price break amid the opening session on Monday. The price decline from 1.2594 to 1.2564 levels which nearly fill the gap in the mid-Asia.

The market met the 1.2591 region that provided another flow of selling pressure. Sellers were able to push the price downwards and tested the 1.2500 mark before the opening of EU session.

The pair entered the level and indicated 1.2450 daily lows but promptly carried out a roll back. The 200-EMA is neutral which also impede the sellers to lowered down the fillips. The 50-EMA pass over the 100-EMA through an upward motion. Both moving averages executed an upward trajectory. Current resistance meets the 1.2600 region, support stands at the 1.2500 level.

The technical indicators generated bearish patterns. Moreover, the MACD histogram showed some weakening against the buyer’s position. RSI stayed behind the overbought zone then pointed southwards. Mainly, the market is seen to be dominated by the bears.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Tue Nov 15, 2016 6:38 am


EUR/USD Technical Analysis: November 15, 2016


The euro move back on its eleven-month lows throughout the mixed options of Eurozone data releases which lies in the red due to the victory of Donald Trump in the recent U.S elections.

The euro break a lower opening when the price plunged from the 1.0850 region to 1.0830 yesterday. The common currency was unable to fill the gap it created since it moved in a downward position and traded in a short-term lower trend line. The pair were blocked at 1.0800 level and slowed down amid Asian session.

Subsequent to the consolidation period, the EURUSD were able to push the level and manage its losses within the 1.0750 level. Sellers merely testing the level and locked in a daily low of 1.0727 in the post-EU open. The EUR curtailed after breaking the aforesaid level.

The price is trading below the moving averages as indicated in the 4-hour chart. Moving averages (50, 100 and 200 EMAs) are in a downward direction. Resistance is situated at 1.0750, support is seen at 1.0700. The technical indicators have gauged that the pair settled in the oversold situation and occupied the negative levels. The MACD histogram weakened and confirmed strength for the sellers. The RSI indicator approaches the overvalued zone which favors an advance move lower.

It is recommended for the pair to go back to the 1.0850 level in order to ease the downward pressure.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Tue Nov 15, 2016 8:14 am


AUD/USD Technical Analysis: November 15, 2016


The Australian dollar is trading on its monthly low and the sluggish result of Chinese data affected the Aussie which caused it to have a change in direction yesterday. The AUD decline to its lowest point in 4 weeks that started on Friday. The price turn away from short-term rising channels and made a dipped below 0.7600. Moreover, the market is dominated by the bears as of the moment.

The AUD were able to meet a temporary support over the 0.7540 region but kept in a trading range surrounded by aforesaid level. During the session yesterday, the pair is toggling continuously. Buyers did not succeed to surpass the above price of 0.7560, meanwhile, sellers also failed to break the price below 0.7520. As shown in the 4-hour chart, moving averages is placed above the price. The 50-EMA pass over the 100 and 200 EMAs in a descending manner. Current resistance is positioned at 0.7570, support laid at 0.7540.

The technical index moved towards a steep reduction around the negative region. MACD is in a neutral position which indicates strength for the sellers. The RSI oscillator consolidated likewise in the negative zone.

The pair will continue to decline, reaching the 0.7500 mark if the downward phase kept its position for the following days. Another chance of recovery is still possible for the bulls, in case that a bounce off in the support level occurred.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Tue Nov 15, 2016 8:20 am

USD/JPY Technical Analysis: November 15, 2016

   The JPY was subject to selling pressure following a speech from the Bank of Japan’s Haruhiko Kuroda. The Japanese yen was unable to receive substantial support from domestic demand in spite of the positive output for the Japanese GDP for the third quarter. Meanwhile, the USD was subject to increased buying pressure, causing the USD/JPY pair to increase in value.

The currency pair’s value continued to trade along the upper range, with the pair testing the 108.00 range, where it remained until the end of the London trading session. The New York session saw the USD/JPY break through its previous level and buyers were able to extend profits beyond the 108.00 region.

   The USD/JPY’s 4-hour chart shows the pair going well beyond its current moving averages, while the pair’s 50, 100, and 200 EMAs showed a significant increase in value. Resistance levels for the USD/JPY is currently at 108.50, while support levels are expected to be at 108.00.

The pair’s technical indicators are all situated at the positive region. The USD will have to go beyond 108.00 in order to maintain the pair’s bullish stance and to keep the pair going up to 108.50. Sellers are also expected to make a comeback in the market, with the 106.50 as their primary aim for the USD/JPY.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Tue Nov 15, 2016 8:21 am


AUD/USD Technical Analysis: November 15, 2016


The Australian dollar is trading on its monthly low and the sluggish result of Chinese data affected the Aussie which caused it to have a change in direction yesterday. The AUD decline to its lowest point in 4 weeks that started on Friday. The price turn away from short-term rising channels and made a dipped below 0.7600. Moreover, the market is dominated by the bears as of the moment.

The AUD were able to meet a temporary support over the 0.7540 region but kept in a trading range surrounded by aforesaid level. During the session yesterday, the pair is toggling continuously. Buyers did not succeed to surpass the above price of 0.7560, meanwhile, sellers also failed to break the price below 0.7520. As shown in the 4-hour chart, moving averages is placed above the price. The 50-EMA pass over the 100 and 200 EMAs in a descending manner. Current resistance is positioned at 0.7570, support laid at 0.7540.

The technical index moved towards a steep reduction around the negative region. MACD is in a neutral position which indicates strength for the sellers. The RSI oscillator consolidated likewise in the negative zone.

The pair will continue to decline, reaching the 0.7500 mark if the downward phase kept its position for the following days. Another chance of recovery is still possible for the bulls, in case that a bounce off in the support level occurred.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Tue Nov 15, 2016 10:17 am


November 15, 2016

Chinese Industrial Production rose but retail sales slowed down

The economic activity of China was presumed to stabilize last month, however, retail sales fall off due to worries about the outlook of the US-China trade frictions under the administration of President Donald Trump. Moreover, the industrial sector performed a better-than-expected 6.1% growth in the month of October while the retail industry dropped an estimated 10% sales.

China’s fixed-asset investment further acquire 8.3% increase for the past 10 months of the present year, this result exceeded the expectation from January to October seeing the government allocated infrastructure expenditures in order to reinforce growth as shown in the official data on Monday.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Tue Nov 15, 2016 10:54 am

November 15, 2016
Economists Expect Increased Inflation Rates, Unemployment Surge Under Trump Presidency
A group of economists from Goldman Sachs Group Inc. are speculating that although a number of President-elect Donald Trump’s proposed policies could boost economic growth in the US, his other policies could possibly have a negative impact on the national economy in the long term. The group of economists came up with three possible scenarios during Trump’s presidency, the first one being a full implementation of all of Trump’s campaign platforms, the second one being an enactment of only Trump’s fiscal policies, and the third one being a hawkish Federal Reserve paired with restrictions of US immigration and trade policies.



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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Wed Nov 16, 2016 4:15 am

AUD/USD Fundamental Analysis: November 16, 2016

The AUD/USD pair exhibited increased volatility during Tuesday’s session but ended the session on a higher range at 0.7559 points after increasing by +0.05% or 0.0004 points. Meanwhile, the NZD/USD closed down the previous trading session at 0.7099 after decreasing by -0.24% or 0.0017 points.

The Australian dollar received substantial support after the Reserve Bank of Australia released the minutes of its recently concluded policy meeting. The minutes of the RBA showed a balanced inflation risk, indicating a more stable monetary policy which is expected to go forward. The RBA has also showed a positive stance with regards to global growth. However, the market has to consider that the RBA meeting took place prior to the election of Donald Trump.

The Australian dollar broke sharply as the session closed due to the release of the US retail sales data which came out on a much positive note as compared to October’s data. According to report, majority of households in the US purchased a wide range of goods, including motor vehicles. The retail sales report indicates that the US economy is sustaining enough growth which could increase the possibility of a Fed rate hike in December. However, the Federal Reserve has stated that it will be closely watching the regulation of the financial market as well as interest rates due to Trump’s fiscal spending proposals. The Fed Vice Chairman has also stated that however risky the market liquidity is at present, the liquidity is just enough to sustain the movement of the global market.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Wed Nov 16, 2016 5:48 am


USD/JPY Technical Analysis: November 16, 2016

Following Trump’s election as the US president, the equities market has been receiving a significant amount of money due to hints that Trump might start implementing tax cuts and remove fiscal spending. US yields are increasing, while outflows are occurring in Fixed Income for high-risk assets such as equities.

The H4 chart for the USD/JPY pair exhibits 2 POC areas, with the first POC located at the 107.80-108.00 trading range which is characterized by a number of price rejections. The price is expected to reach 109.00 and if it manages to clamp down over 109.00, then this will lead to the currency pair possibly reaching 110.00 points. A retracement for the currency pair could possibly call for a bullish block at 106.90-107.10 trading range. The bounce for the USD/JPY is expected to be at the 105.20-105.40 trading range and must be monitored if the price for the pair becomes rejected at the 106.90-107.10 region.

However, since the pricing for this particular currency pair is very bullish, traders are recommended to monitor the 110.00 region since if a reverse bearish divergence occurs, then a counter trend could be expected at the 107.00 range.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Wed Nov 16, 2016 7:13 am


AUD/USD Fundamental Analysis: November 16, 2016

The AUD/USD pair exhibited increased volatility during Tuesday’s session but ended the session on a higher range at 0.7559 points after increasing by +0.05% or 0.0004 points. Meanwhile, the NZD/USD closed down the previous trading session at 0.7099 after decreasing by -0.24% or 0.0017 points.

The Australian dollar received substantial support after the Reserve Bank of Australia released the minutes of its recently concluded policy meeting. The minutes of the RBA showed a balanced inflation risk, indicating a more stable monetary policy which is expected to go forward. The RBA has also showed a positive stance with regards to global growth. However, the market has to consider that the RBA meeting took place prior to the election of Donald Trump.

The Australian dollar broke sharply as the session closed due to the release of the US retail sales data which came out on a much positive note as compared to October’s data. According to report, majority of households in the US purchased a wide range of goods, including motor vehicles.

The retail sales report indicates that the US economy is sustaining enough growth which could increase the possibility of a Fed rate hike in December. However, the Federal Reserve has stated that it will be closely watching the regulation of the financial market as well as interest rates due to Trump’s fiscal spending proposals. The Fed Vice Chairman has also stated that however risky the market liquidity is at present, the liquidity is just enough to sustain the movement of the global market.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Wed Nov 16, 2016 7:16 am


EUR/USD Technical Analysis: November 16, 2016


The weak GDP data in Germany were unable to shake the euro seeing the common currency to further strengthened. As the European currency sustained its position, the result of the Economic Sentiment in the Eurozone is better-than-expected. The pair presented in red figures on the previous trades accordingly. The Fibre approach to its 11-month low on Monday before it make a backtrack. The euro successfully recovered from its losses compared with its USD counterpart on Tuesday. The price rebounded into the edge of the oversold territory which enable for an increase toward 1.0800. The EUR tested the aforesaid level and promptly curtailed amid post-EU opening. The pair pushed the 50-EMA as shown in the 1-hour chart. Moving averages (50, 100 and 200 EMAs) headed on a lower position. Current resistance stands at 1.0800, support is seen at 1.0750 region.

The technical indicators are found in the extreme levels of the oversold condition. The MACD histogram was reinforced which confirmed the softening position of the sellers. RSI indicators plunge in the oversold area.

It is recommended that when a break on top of the 1.0800 occurred, the current rebound will expand. Moreover, if the pair tested the 1.0850 level, this will fill the gap that the pair created yesterday. In case that the bears controlled the price there is a tendency for a decline towards 1.0650.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Wed Nov 16, 2016 7:28 am


GBP/USD Technical Analysis: November 16, 2016

The increase in the Producer Price Index of UK was not able to support the British pound, the pound further weakened consequently to the decline of the inflation figures in the Great Britain last month. The sterling kept intact in the pressured area and continued to have a gradual move downwards. The cable pair is trading in a tight range amid the Asian session and headed on the nether side before the EU opening. The price further plummeted which tested the 1.2400 level during the mid-EU hours.

The GBP/USD broke the 200-EMA, tested the 100-EMA, both activities lasted in the interim of the Euro hours. All moving averages exhibited a neutral stance seen in the 4-hour chart. The resistance is found at 1.2500, support is seen at 1.2400. The indicators move down in the positive zone. MACD grew less which confirmed weak position for the buyers. RSI descended which presented increasing strength for the sellers. Other forecasts said that bears will dominate the entire market for the following days.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Wed Nov 16, 2016 7:29 am


NZD/USD Technical Analysis: November 16, 2016


The kiwi further stabilized on Tuesday because the market has already secured a stable condition after dilemmas regarding 7.5 earthquake in New Zealand and issues with the election win of Trump.

The price firmly established a bearish sentiment and traded within the 0.7100 region. Buyers attempted to extend towards the upward correction but prices settled under the selling pressure within the 0.7150 during the Asian hours. The pair lowered down to the 0.7100 level and stayed there in the course of the day.

According in the 1-hour chart, the price endures a bearish 50-EMA and stimulated as a resistance. The downturn of the moving averages continued to worsen. Resistance is seen at 0.7150, support is at 0.7100.

MACD further developed and indicated a weak position for the sellers. RSI headed northwards after leaving the undervalued condition.

The pair shows some signals for further strengthening as it remains on top of the 0.7100 region. Moreover, the bull’s target is set at the 0.7150 level.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Wed Nov 16, 2016 9:29 am


November 16, 2016

Morgan Stanley Bank Gained $10m After Stocks Rallied

Morgan Stanley earned more than 10 million U.S. dollars equivalent to 8 million pounds of shares after Trump’s victory in U.S. presidential election. Stocks rallied in effect of post election and the bank, Morgan Stanley collected as much as a fifth of their collated earnings as their highest for more than a year.

After the election, this has been the best performance as stocks recovered from 2008 to 2009 financial crisis. The market sees Trump’s campaign to increase inflation of infrastructures and Federal Reserve’s fiscal policies that further boost banks turnover.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Wed Nov 16, 2016 9:47 am


November 16, 206

The highest-ranking Russian official accused for receiving $2m bribe

The Economy Minister of Russia, Ulyukayev were accused for accepting payments after he approved the takeover of 50% stake of Bashneft to a giant oil company, Rosneft. According to the investigators, the Russian minister collected $2m (£1.6m) worth of bribe, however, Ulyukayev pleaded not guilty on the allegation.

Alexei Ulyukayev is considered to be the highest-ranking Russian official to be dismissed and arrested since the failed coup in 1991.

The minister was arrested Tuesday morning and expected to face eight to 15 years of imprisonment but he continued to denied the blame and described it as “an act of provocation against a state official”. Moreover, the court allowed him to take a house arrest until January 15.

President Vladimir Putin take an immediate action and impeached Mr. Ulyukayev since the 60-year-old minister broke the trust of Putin. The acting economy minister recently appointed was Yevgeny Yelin.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Wed Nov 16, 2016 10:04 am

November 16, 2016
US Dollar Drops, Asian Stocks Bounce Back as Trump Victory Shock Fades
For the first time in nearly four days, Asian stocks increased in value while the USD dropped from its five-month high against the Japanese yen due to investors questioning the possible overreaction of the financial market to Donald Trump’s recent win during the US elections. The MSCI Asia Pacific Index increased due to energy shares after crude oil prices rose to its highest levels in seven months after the OPEC finally agreed on proposed output cutbacks. For the major currencies, the KRW had the most gains after rebounding from its near-record lows since June 2016. The Japanese 10-year bond yields were also able to maintain its zero value after staying within negative territory for a total of eight weeks.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Thu Nov 17, 2016 8:15 am

GBP/USD Fundamental Analysis: November 17, 2016

The GBP/USD pair remains in the lower trading range even though it has managed to stay above 1.2400. Market players have long been speculating that the after-effects of the Brexit referendum will continue to have an influence on the sterling pound no matter how many times it would increase and its bulls will not be able to stay put. The GBP will have difficulty with regards to getting and maintaining a substantial bull stance since the Brexit process will be too risky for investors and traders for them to make long-term bets.

The currency pair has recently been trying to break through its rut, but any uptick by the sterling pound is always met with suspicion from investors and is always seen as a sell opportunity. The pair was somewhat able to increase by 200-300 pips during the past trading sessions but was incessantly pushed down by bears and has returned below 1.2500.

For today’s trading session, investors are expecting the release of the UK retail sales data during the European session, with investors waiting whether this particular data release would be able to exceed initial expectations.

The CPI data from US and comments from Fed’s Janet Yellen is also expected to make its rounds today, and the GBP/USD could possibly benefit if Yellen confirms the occurrence of the Fed rate hike in December by going down to the 1.2300 region.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Thu Nov 17, 2016 8:45 am

EUR/USD Fundamental Analysis: November 17, 2016

The EUR/USD has been consistently in a tight trading range for the past session as market players are waiting for the next stimulus in order to mark the start of the short-term trend. Although the EUR/USD has hit some significant price lows for this year, its follow throughs have been very few and far in between. The pair is currency seeing more consolidation, which indicates that the bulls are still waiting for possible economic events which could cause the price of the pair to crack both ways.

The number of economic data which will be released today could possibly cause the pair to crack either way. The CPI data and Core CPI is scheduled to be released before the start of the New York session, and market players are expecting a positive data release since this could compel the Federal Reserve to continue with the rate hike in December. Fed Chair Janet Yellen is also scheduled to make a speech later today and is expected to confirm whether the Fed will be pushing through with the rate hike, and she is also expected to confirm that the Federal Reserve will be sustaining its operations and functions without any political influence, especially after Donald Trump’s victory. However, if Yellen fails to confirm the occurrence of the Fed rate hike, then this could cause the USD to weaken and the bulls will be active in the EUR/USD pair.

The pricing of the EUR/USD should be able to go beyond 1.0725 in order for it to benefit the bulls, something that has not done by the currency pair for the past 24 hours. Today’s session could be a crucial period with regards to determining the projected direction of the pair.

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