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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...
Statistics
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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...
Statistics
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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...
Statistics
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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...
Statistics
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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...
Statistics
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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...
Statistics
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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...
Statistics
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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...
Statistics
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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
The US has another crack at picking a number for its Q1 GDP at 12.30 GMT Despite closing off Q2 this week, the US is still trying to get Q1 data right. The last showing of 0.8% GDP is expected to rise to 1.0% in the final reading. Consumer spending stayed at 1...
Market News
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Sherif Hasan, 28 June 2016, 19:29
Details of the final Q1 2016 US GDP data report 28 June 2016 2nd est 0.8% Advance 0.5% Q4 2015 1.4% Personal consumption 1.5% vs 2.0% exp. Prior 1.9%. Q4 2015 2.4...
Analytics & Forecasts
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Sherif Hasan, 28 June 2016, 19:28
The Fed has repeatedly been upbeat on consumers The US GDP Q1 final revision was slightly higher than expected but it raises fresh questions about future growth. Consumer spending was revised down to +1.5% from +1.9%. Economists had expected a boost to 2.0...
Market News
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Sherif Hasan, 28 June 2016, 19:24 #GDP
Details of the April 2016 US Case Shiller house price index report 28 June 2016 Prior 0.9% 5.4% vs 5.4% exp y/y. Prior 5.4%. Revised to 5.5% NSA 1.1% vs 0.9% prior m/m. Prior revised to 1.0% US HPI 5.03% vs 5.15% prior y/y. Revised to 5.11...
Market News
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Sherif Hasan, 28 June 2016, 19:23
USD/JPY nears Monday's high of 102.48 The pair is just a couple pips below Monday's high as stock markets open. It's bounce day but will it be of the dead cat variety? The strength of the bounce is often a good indicator of the strength of the trend...
Trading Systems
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Sherif Hasan, 28 June 2016, 19:21
S&P 500 up 22 points to 2024 It's bounce day. Will the bears sell the bounce? One clue will come from the technicals. The S&P 500 is testing the May low of 2025. Whether that breaks and whether we close above it are critical...
Market News
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Sherif Hasan, 28 June 2016, 19:19