Content courtesy of Tallinex Limited https://www.tallinex.com GOLD (XAUUSD) Dominant bias: Bullish Gold is in an uptrend on the daily chart; whereas lower timeframes (such as 4-hour) confirm that there is bearish pressure on the market...
US Oil Breaks Major Trend Line Resistance, Targets $39.35/$40 Major support - $36.80 (200 day 4HMA) Major resistance - $38 (trend line joining $40.11 and $38.26) US Oil has taken support near 200 day 4H MA and recovered from that level. It is currently trading around $38.16...
Swiss Fx Reserves Increases in Past 12 Months EUR/CHF was under moderate pressure in the past few days. It is now trading much below the mark of 1.09 again. The new exchange rate regime does not work to avert increase in balance sheet of SNB, according to Commerzbank...
Oil Extends Gains, WTI Rises 3% Oil prices extended gains in Europe, with both benchmarks trading at least 3% higher on the day as traders cheered Fed’s bullish comments on economy and strong German data. At the time of writing, WTI futures were up 3.5% at $38.57/barrel. Brent futures traded 3...
US: Yellen Provides Balance to Previous Pessimism - MUFG Derek Halpenny, European Head of GMR at MUFG, notes that the Fed Chair Yellen was last night more eager to emphasise the positives while sharing the stage with the previous three Fed Chairmen – Volker, Greenspan and Bernanke...
Asia Roundup: Antipodeans Head for Weekly Losses, Dollar steady After Hitting 17-Month Low Vs Yen - Asian Shares Extend Losses Market Roundup Japan FinMin Aso – Current FX moves one-sided, rapid moves undesirable, will take necessary steps vs FX moves as needed...
Should BoJ Intervene in Yen? We at FxWirePro, think they should not. Even if they still do, it may not yield the result they are looking for. Reasons being simple – According to G20 agreement, currency intervention to exploit trade benefits through competitive devaluations are not to be practiced...
European Stocks Advance as Commodity Shares Rally Oil price gains and the resulting rise in commodity shares pushed the major European indices higher in early trading on Friday. At the time of writing, pan-European Euro Stoxx 50 index was up 1.10%. Germany’s DAX and France’s CAC were up 0...
USD Lacks Underlying Support - Westpac Richard Franulovich, Research Analyst at Westpac, suggests that a spike in risk aversion may save the USD on selected crosses near term but the beyond that the currency lacks underlying support...
Riksbank Could Stay ‘On-Hold’ in April – Danske Bank According to Senior Analyst at Danske Bank Sverre Holbek, the Riksbank could stay put at its meeting later in the month...
China: Stabilisation of March FX Reserves - Nomura Research Team at Nomura, notes that China’s headline FX reserves rose by USD10.3bn m-o-m in March to USD3.213trn compared with our expectation of a small USD10.0bn decline (we forecast headline reserves at USD3.192trn...
EUR/USD in a Tight Range Near 1.1370 The shared currency is trading almost unchanged vs. its American counterpart at the beginning of the week, taking EUR/USD to the 1.1370 area. EUR/USD gains capped near 1.1450 The pair has faded yesterday’s spike to fresh 2016 peaks in the mid-1...
CAD: Setting Up for March Employment Numbers – TDS Research Team at TDS, suggests that on the heels of two consecutive months of disappointing employment prints, the Canadian labour market likely recovered in March with a forecasted addition of 18k jobs...
Gold Off-Weekly Highs, USD Gains on Less Dovish Yellen Gold extends its retreat from fresh one-week tops into early Europe, although remains poised to book the second straight weekly rise. Gold ticks lower as USD index strengthens Currently, gold trades -0.24% lower at 1235...
BoJ: Pressure Mounting to Ease Further - ING Research Team at ING, suggests that the pressure has increased on the BoJ to deliver some form of stimulus at the 28 April meeting...
Asian Stocks in Red, Gold Remains Supported Above $1232 All the Asian markets are trading on a lower note on Friday. Moreover, Europe and U.S. markets were closed with major losses. Overnight Fed Chair Yellen’s speech provides no further hints regarding interest rate hike...
JPY: Time for BoJ intervention? – ING Research Team at ING, suggests that the bar for unilateral intervention remains high as far as JPY is concerned...
Time to Pick a Top in the Australian Dollar? - BBH Research Team at BBH, suggests looking for a top in the Australian dollar. Key Quotes “The low for the year was set in mid-January (~$0.6830), before the other markets turned. The MSCI emerging market equity index bottomed on January 21...
Japan's Inada: Now is Not the Time for Forex Intervention Chair of the Policy Research Council of the Liberal Democratic Party (LDP) in Japan, Tomomi Inada, said now is not the time for forex intervention...
