We are making some significant changes to the FXCharts site to bring everything up to date and add some new content for a changing market. Don’t worry about losing the regular daily market report, that will remain and will continue to be our flagship item but we will be adding new content, not just market but also educational,… Read More »
The US$ has retained its positive momentum in the US session following the upbeat release of the October US retail sales, which rose by 0.8% versus expectation of 0.5%. The ex-auto sales rose 0.8%, also above expectation of 0.6%. In other positive news from the US, the NY Empire state manufacturing index rose to 1.5 in November, above expectation of -1. The DXY has broken above 100.00 and is now not too far away from……..
US$ strength has been the main theme at the start of the week, underpinned by the spike up in bond yields, where the 10 Year is now holding above 2%, while to 30 year has broken above 3% for the first time since early January. In the currency markets, the Yen, Euro and Chf have been under ……………..
GBPUSD: 1.2595 Resistance Support 1.2820 (61.8% of 1.3445/1.1821) 1.2500 Minor 1.2770 Minor 1.2450 Minor 1.2700 55 WMA 1.2425 100 HMA 1.2670 Minor 1.2400 (23.6% of 1821/1.2556) 1.2640 Minor 1.2300 Rising trend support Bias Sterling outperformed again on Friday, by heading up to 1.2673 as shorts were covered, before giving up some of the gains to […]
AUDUSD: 0.7540 Resistance Support 0.7650 (50% of 0.7777/0.7525) 0.7525 Friday low 0.7621 (38.2% of 0.7777/0.7525) 0.7505 13 Oct low/200 DMA 0.7600 Minor 0.7495 100 WMA 0.7585/88 (23.6% of 0.7777/0.7525)/100 DMA 0.7460 Minor 0.7560 Minor 0.7441 13 Sept low Bias Following last week’s spike up to a new 7 month high at 0.7777 the Aud$ has […]
EURUSD: 1.0854 Resistance Support 1.0975 100 HMA 1.0830 Friday low 1.0940 (23.6% of 1.1299/1.0830) 1.0821 10 Mar low 1.0923 Friday high 1.0800 Minor 1.0900 Minor 1.0775 (76.4% of 1.0521/1.1616) 1.0875 Minor 1.0710 5 Jan low Bias Eur/Usd remained heavy on Friday, with the dollar still underpinned by Trumps victory, and headed into the good support […]
The US$ remained firm heading into the weekend as investors digested the monumental ramifications of a Trump administration, with the possibility of a pickup in inflation heading into 2017 on the back of a renegotiation of free-trade deals and an unleashing of large fiscal stimulus measures. Elsewhere, commodities collapsed, led by……
The US$ has continued its post-election rally with the Yen under particular pressure, hurt by rising US yields, risk appetite and the diminished need for a safe haven trade. The other star performer on the day has been Cable, which looks as though it is building the legs to head higher still. Elsewhere, the major […]
It’s a whole new world out there today! In terms of markets we cannot complain about the lack of two-way volatility, and plenty of fortunes will have been made and lost. We can probably expect more of the same over the next couple of months as the Trump transition to power takes place, and it looks like being a wild ride into the end of the year, with the December FOMC Meeting still to come. At the end of the Wednesday session it has been a roller coaster ride, following Trumps conciliatory speech, and US Treasury yields have soared, taking the dollar and stocks along in their wake, while Gold, after screaming higher has now reversed all those gains and more by the end of the session. All up, this is not a market for the position takers and it will be the intra-day traders who will be to the fore until the current volatility subsides.
There is very little data due today which is probably just as well as no one would notice. The Feds Williams/ Bullard will be speaking.