8 Feb: Trend table outlook for FX, Commodities, Indices

The US$ is mildly firmer again on Friday although the momentum indicators are now rather mixed, requiring a fairly neutral stance. The Aud$ and the Kiwi still look heavy in the medium term, so I prefer the short side, while the charts for the Dollar Index (DXY) look firm, so buying US$ dips is preferred. As with yesterday,… Read More »

8 Feb: US$ steady, Gbp volatile. Stocks down on US/China trade concerns. RBA SOMP ahead. Thin calendar elsewhere.

Currency markets have been mostly steady on Thursday, with the US generally underpinned, although Sterling had a wild ride following the BOE meeting. Cable initially headed sharply lower after the BoE left rates on hold but downgraded economic forecasts due to uncertainty about Brexit.  It then bounced back, equally sharply, after Mark Carney indicated that markets should not… Read More »

7 Feb: Trend table outlook for FX, Commodities, Indices

The US$ is mildly firmer again today and the short term momentum indicators suggest that this could continue to be the case so buying dips against any of the majors seems to be the plan, with the Aud$ still looking particularly vulnerable following yesterday’s RBA inspired move. If so, expect the Kiwi to go along with it, with… Read More »

6 Feb: Trend table outlook for FX, Commodities, Indices

Tuesday was again mostly quiet and the FX charts show little direction, although a “risk-on” theme seems to dominate and the stock markets, in particular, seem set for further gains, possibly during Donald Trump’s SOTU speech during the Asian session. As we said before though, some stiff resistance lies ahead, with the S+P the 200 DMA at 2744,… Read More »

5 Feb: Trend table outlook for FX, Commodities, Indices

Monday was a mostly quiet session and the charts show little direction although a “risk-on” theme seems to dominate the general thinking.  That can change quickly but in the mean time, the stock indices still look reasonably positive, while the Jpy, used as a funding currency, still looks soft against both the US$ and on the crosses. Elsewhere… Read More »

4 Feb: Trend table outlook for FX, Commodities, Indices

The currency markets look rather mixed at the start of the week following the mixed results seen following on from Friday’s US employment data. US$Jpy seems to be the standout and looks to be bid on both the short term momentum indicators and the daily indicators so buying dips may be a plan. The same applies to EurJpy… Read More »