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Your Economic Data/Events Calendar for today 29 June 2016 Sad news to greet me this morning, as if we needed reminding how fragile is this world of ours right now, and seemingly on a downward spiral. Busy data calendar ahead. As always I wish you a good session. Times GMT...
Market News
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Sherif Hasan, 29 June 2016, 06:58
More details from last night's attack 29 June 2016 My sad duty to report another tragic event, this time at Istanbul's Ataturk airport 3 attackers opened fire near entry point to terminal then blew themselves up PN Binali Yildirim said early signs suggested the so-called Islamic State was behind...
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Sherif Hasan, 29 June 2016, 06:36
Apparently there is this little rainy island off the coast of France, and its currency (big round stones with a hole in it) has 'reserve status' Go figure...
Market News
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Sherif Hasan, 29 June 2016, 06:04
USDCHF: With continued upside pressure seen, more strength is envisaged. On the downside, support lies at the 0.9750 level. A turn below here will open the door for more weakness towards the 0.9700 level and then the 0.9650 level...
Analytics & Forecasts
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FXTechstrategy, 29 June 2016, 04:07
Investment bank JPMorgan have updated their latest foreign exchange forecasts in reaction to the Brexit event. Naturally, the biggest focus of the forecast changes would be felt by the sterling complex owing to the risk scenario that Brexit implies over coming months. Q3 targets are 1...
Analytics & Forecasts
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Vasilii Apostolidi, 28 June 2016, 21:17
Analysts from TDS think that after the UK referendum results, the Bank of England (BoE) will cut the interest rate to zero. “We expect the UK to enter a brief and shallow recession as heightened uncertainty from the Leave referendum win weighs on both household and firm demand...
Analytics & Forecasts
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Vasilii Apostolidi, 28 June 2016, 21:13
Looking for bearish ‘quasi GBP’ trades makes sense, but focusing on EUR is wrong...
Analytics & Forecasts
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Vasilii Apostolidi, 28 June 2016, 21:10
Nordea says it's 30% Analysts from Nordea on scenarios after the Brexit referendum: In Q4 2016, the new prime minister triggers Article 50 of the EU Treaty by notifying the EU that the UK intends to leave. That opens a two-year window for negotiating a withdrawal agreement...
Market News
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Sherif Hasan, 28 June 2016, 20:10
Forex trading is never a one way street. What comes down must come up, at least temporarily. And that is the big question for the pound. The third trading day following the Brexit night sees a positive trend for the pound after huge falls beforehand. GBP/USD is 200 pips off the low of 1...
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Sherif Hasan, 28 June 2016, 20:05
GBPUSD fell sharply lower last week after vote counts for EU membership showed that the UK wants to leave the Euro zone. The pair fell to a new low which was technically expected as you know since we counted the bounce from 1.3850 as a corrective fourth wave...
Wave Count
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Sherif Hasan, 28 June 2016, 20:04
EURUSD Daily Analysis EURUSD (1.105): EURUSD formed a spinning bottom yesterday seeking support at 1.10 with the price action seeing a bullish follow through in early Asian trading today. The gains came after markets started pricing a Fed rate cut this year following the Brexit verdict...
Trading Systems
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Sherif Hasan, 28 June 2016, 20:00 #xauusd, technical analysis
ECB President Mario Draghi is speaking in the ECB conference in Sintra, Portugal. Also BOE Governor Mark Carney and Fed Chair Janet Yellen were scheduled to speak but their appearances have been cancelled. The reason is obvious: Brexit...
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Sherif Hasan, 28 June 2016, 19:56 #ECB
The New Zealand dollar enjoyed good data coming out of the country but but reversed course on the risk-off sentiment related to Britain’s EU Referendum. The upcoming week features 3 local events and the big Brexit decision...
Weekly Trends
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Sherif Hasan, 28 June 2016, 19:54 #nzdusd
EUR/USD is trading higher within the recent range of 1.0960 to 1.1070, off the post-Brexit low of 1.0905 but certainly below previous levels. This seems like necessary correction that goes hand in hand with a bounce in the value of the pound...
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Sherif Hasan, 28 June 2016, 19:52
Following Brexit, the pound suffered quite a bit. However, today we are seeing some stabilization. Can it recover...
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Sherif Hasan, 28 June 2016, 19:48
Article 50 of the European Treaty triggers fear among British policymakers. It seems that nobody wants to touch it with a barge pole. Will the Bregret turn into a Bremain instead of Brexit...
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Sherif Hasan, 28 June 2016, 19:45
It was quite a surprise when the US Federal Open Market Committee released its statement following the 15 June monetary policy meeting: “…Information received since the Federal Open Market Committee met in April indicates that the pace of improvement in the labor market has slowed… …Although the...
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Sherif Hasan, 28 June 2016, 19:44 #usdchf
The British decision to leave the EU continues sending shock-waves through financial markets with wide ranging implications. In currency markets, the biggest victim is obviously the pound, with the euro following suit...
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Sherif Hasan, 28 June 2016, 19:39
Soothing words for markets from Osborne? That helped for a very short time and resumes its falls and is basically on its own. While there is a general “risk off” atmosphere which also weighs on the euro and commodity currencies, the fall in the value of GBP is at a higher order of magnitude...
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Sherif Hasan, 28 June 2016, 19:36
Further comments from the Chancellor We should move towards arrangement that provides the closest possible economic ties with our neighbours Urgency is required to establish new arrangements with EU There has been no disorder in financial markets Does not expect the situation to deteriorate but h...
Market News
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Sherif Hasan, 28 June 2016, 19:30