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The Australian dollar enjoyed a post-Brexit recovery and managed to top the 0.75 level. While AUD/USD keeps holding on to this ground, the gains may have stopped for now...
Trading Systems
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Sherif Hasan, 5 July 2016, 17:50
The ISM Non-Manufacturing PMI (Purchasing Managers’ Index) is based on a survey of purchasing managers in the manufacturing sector. Respondents are surveyed for their view of the economy and business conditions in the US...
Trading Systems
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Sherif Hasan, 5 July 2016, 17:49
Signs that the Brexit is already taking its toll are accumulating. A mix of surveys, news reports and a political turmoil is taking over. GBP/USD is falling once again, over 100 pips and back to the 1.31 handle. The low so far is 1.3162, above the 1...
Trading Systems
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Sherif Hasan, 5 July 2016, 17:47
EURUSD Daily Analysis EURUSD (1.113): EURUSD is seen pulling back after edging higher yesterday. Having cleared 1.110, the current pullback could be limited to 1.110 to establish support. In such an event, EURUSD could potentially be forming a base at 1.110 for the eventual test to 1...
Trading Systems
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Sherif Hasan, 5 July 2016, 17:45 #xauusd, technical analysis
The fallout from Brexit is far from over. Bank of America Merrill Lynch sees further falls and explains: Here is their view, courtesy of eFXnews: Rarely in UK political history has there been a situation where there has been a concurrent leadership contest in the two largest parties in Parliament...
Trading Systems
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Sherif Hasan, 5 July 2016, 17:42
EUR/USD is struggling with Brexit and there is more potential to the downside. And that’s not the only reason. Here is their view, courtesy of eFXnews: We are lowering our 3m EURUSD forecast to 1.05 from 1...
Trading Systems
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Sherif Hasan, 5 July 2016, 17:41
UK Services PMI is based on a survey of purchasing managers in the services sector. Respondents are surveyed for their view of the economy and business conditions in the UK. A reading which is higher than the market forecast is bullish for the pound...
Trading Systems
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Sherif Hasan, 5 July 2016, 17:40
AUD has depreciated in recent years, as it adjusted to the lower terms-of-trade stemming from the decline in commodity prices. However, the currency has remained stronger than the level of commodity prices and the rates differential would suggest...
Analytics & Forecasts
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Vasilii Apostolidi, 5 July 2016, 16:53 #forex
Risk aversion rising US stock futures point to an 11 point decline in the S&P 500 as the market sours, once again, on the Brexit uncertainty. The main focus is on the breakdown in cable but the dollar has come under some independent pressure in the past 30 minutes. USD/JPY quickly fell to 101...
Currency
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Sherif Hasan, 5 July 2016, 15:39
Takes out lower trend line on hourly chart. Timber The GBPUSD just took out the lower trend line which held briefly at 1.3090 area, and we are seeing further selling as traders throw in the towel. With the price trading at lowest levels since 1985, there is not a whole lot to hang onto...
Trading Systems
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Sherif Hasan, 5 July 2016, 15:37
A majority of Conservatives support May YouGov polled Conservative members from July 1-4 and found that Theresa May begins the leadership race as an overwhelming favourite. T. May: 54% A. Leadsom: 20% M. Gove: 9...
Market News
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Sherif Hasan, 5 July 2016, 15:33
July 5th, 2016: The JPY is the strongest. The GBP is the weakest. As North American traders enter for the day, the JPY is strongest currency, while the GBP is the weakest. The GBP has obviously found it's trend from comments from BOE's Carney who continues to speak of "action...
Market News
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Sherif Hasan, 5 July 2016, 15:31 #CADJPY
Factory orders and a speech from Dudley later It's always nice to return from a long weekend to a light economic calendar. The market is trying to find its legs as cable takes a fresh beating. There were worries about Carney and the services PMI but the news was ho-hum...
Market News
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Sherif Hasan, 5 July 2016, 15:28 #ECB
EURGBP cracks 0.8500 And that's sent cable down to test 1.3100. There's news arriving that yet another fund is halting exiting from it's property fund. Aviva is reported to have said it will suspend selling due to "extraordinary circumstances" (that old chestnut...
Market News
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Sherif Hasan, 5 July 2016, 15:26
EURGBP cracks 0.8500 And that's sent cable down to test 1.3100. There's news arriving that yet another fund is halting exiting from it's property fund. Aviva is reported to have said it will suspend selling due to "extraordinary circumstances" (that old chestnut...
Market News
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Sherif Hasan, 5 July 2016, 15:02
It's time to clarify some things about Brexit Going by some of the comments there have been about Brexit you'd think the UK will resemble a world akin to something from the Mad Max films. Let's be straight about a few things. No one is saying there won't be any economic fallout...
Market News
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Sherif Hasan, 5 July 2016, 15:00
Carney presser following the release of the FPC's Financial Stability report BOE will be straight with the British people Now likely that adjustments in commercial real-estate and will tighten credit conditions There is growing evidence that post Brexit uncertainty has delayed decisions on invest...
Banks
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Sherif Hasan, 5 July 2016, 14:59
Latest BOE Financial stability report Will reduce counter cyclical capital buffer to 0.0% from 0.5% with immediate effect until June 2017 at the least CCB cut will reduce buffer by £5...
Banks
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Sherif Hasan, 5 July 2016, 14:57
Details from the June 2016 UK Markit/CIPS services PMI data report 5 July 2016 Prior 53.5 New orders 52.3 v s53.5 prior Composite 52.4 vs 52.0 exp. Prior 53.0 New orders 53.0 vs 51.5 prior...
Market News
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Sherif Hasan, 5 July 2016, 14:55
GBPUSD: The pair looks set to resume its broader medium term weakness following its sell-off during Tuesday trading session. On the downside, support lies at the 1.3050 level where a break will turn attention to the 1.3000 level. Further down, support lies at the 1.2950 level...
Analytics & Forecasts
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FXTechstrategy, 5 July 2016, 14:45 #Trading, forex