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NZD/USD Fall to Extend to the 0.6650 Area - Westpac Imre Speizer, Senior Market Strategist at Westpac, notes that the stronger US dollar has resulted in a 3% fall in NZD/USD so far this month. Key Quotes “We expect that to extend this week, to the 0...
Analytics & Forecasts
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Roberto Jacobs, 16 May 2016, 07:31 #nzdusd
USD/JPY intermarket: Bulls Need Higher Adj in 10-y US-JP Spread One week ago, a significant divergence between the 10-year US-JP yield spread was identified, one which was suggesting the possibility of the pair being too cheap based on its yield valuations...
Analytics & Forecasts
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Roberto Jacobs, 16 May 2016, 07:20
AUD/JPY: Recovery Faces Stiff Hurdle at 79.50 The bulls appear to have taken a breather from the recovery mode, with the AUD/JPY cross now drifting slightly lower from the mid-point of 79 handle. AUD/JPY sees almost 1 big figure recovery The AUD/JPY pair now advances 0.29% to 79...
Analytics & Forecasts
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Roberto Jacobs, 16 May 2016, 07:18
AUD: Plenty of Fuel for Further Decline - Westpac Sean Callow, Research Analyst at Westpac, notes that the CTFC’s Commitment of Traders report showed the expected further reduction in speculative AUD net long positions in the week to 10 May (i.e. including the response to the RBA’s SoMP...
Currency
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Roberto Jacobs, 16 May 2016, 07:16
FxWirePro: NZD/USD Recovers from Session Lows at 0.6746, Good to Buy Breakout Above 0.6770 Kiwi hammered earlier on the day on account of poor Chinese data, Chinese retail sales, industrial output and fixed asset investment data came in below estimates...
Analytics & Forecasts
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Roberto Jacobs, 16 May 2016, 07:11 #nzdusd
Gold: Looks For Directional Bias GOLD: Though vulnerable to the downside on correction, the commodity is now looking for directional bias on the daily chart. On the downside, support comes in at the 1,260.00 level where a break will turn attention to the 1,250.00 level...
Analytics & Forecasts
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Roberto Jacobs, 16 May 2016, 07:07 #gold
GBPJPY: Risk Remains Lower Medium Term GBPJPY: The cross continues to face downside pressure as we enter a new week. On the downside, support comes in at the 155.00 level where a violation will aim at the 154.00 level. A break below here will target the 153.00 level followed by the 152.00 level...
Analytics & Forecasts
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Roberto Jacobs, 16 May 2016, 07:01
EURUSD – A Look at the Big Picture for Euro Key Highlights Euro looks like trading inside a monster ascending channel formed on the daily chart vs the US Dollar...
Analytics & Forecasts
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Roberto Jacobs, 16 May 2016, 06:58
Fed: What is Needed to Secure Another Rate Hike? - ING James Smith, Economist at ING, suggests that the key to the next FOMC rate hike now lies with a pick-up in US activity data. Key Quotes “Three conditions needed to secure another rate hike from the Fed...
Currency
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Roberto Jacobs, 16 May 2016, 06:52 #Fed
EUR/USD: Offered Near 50-DMA, but Keeps 1.1300 The overnight recovery in EUR/USD failed once again near 1.1320 region in early dealings, sending the major back near 1.13 handle, where it spent last few hours consolidating...
Analytics & Forecasts
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Roberto Jacobs, 16 May 2016, 06:20
China: Construction Activity Continued Ramp up in April - NAB Gerard Burg, Senior Economist at ING, suggests that Chinese construction activity continued ramp up in April, but he is concerned about the sustainability of growth...
Market News
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Roberto Jacobs, 16 May 2016, 06:17 #China
US Retail Sales Bounces Back but More is Required for a Rate Hike - ING James Knightley, Research Analyst at ING, notes that the US retail sales for April were up 1.3%MoM, above the 0.8% consensus while the “control group” which strips out some of the most volatile components reported growth of 0...
Currency
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Roberto Jacobs, 16 May 2016, 06:14
Asian Markets Start a New Week on the Positive Note, Gold Finds Support Above $1270 All the major Asian indices are trading on a positive note on Monday. Gold remains well supported above $1270 marks and hovers around key resistance at $1277...
Market News
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Roberto Jacobs, 16 May 2016, 06:12
USD/JPY: Bulls Testing 109 Handle as Risk Sentiment Recovers The offered tone around the JPY gathered pace in the mid-Asian session, now pushing USD/JPY further into the positive territory just a thread-line short of 109 handle...
Analytics & Forecasts
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Roberto Jacobs, 16 May 2016, 05:59
FxWirePro: ASX200 Faces Strong Support at 5300, Good to Buy at Dips Major resistance - 5380 Major Support - 5307 (10 day EMA) ASX200 pares early losses made today and slightly jumped till 5372 at the time of writing. It is currently trading at 5368...
Analytics & Forecasts
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Roberto Jacobs, 16 May 2016, 05:54
FxWirePro: Nikkei225 Faces Strong Support at 16300, Good to Buy at Dips Major resistance - 16985 (100 day EMA) Major support - 16425 (10 day EMA) Nikkei index has declined yesterday after making a high of 16805 at the time of writing.It is currently trading around 16459...
Analytics & Forecasts
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Roberto Jacobs, 16 May 2016, 05:52
FxWirePro: USD/SGD Almost Flat in Early Asia, Upside Limited USD/SGD is currently trading around 1.3718 marks. It made intraday high at 1.3740 and low at 1.3715 levels. Intraday bias remains neutral till the time pair holds key support at 1.3723. A sustained close above 1...
Analytics & Forecasts
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Roberto Jacobs, 16 May 2016, 05:50
Guide to Today's Important Data and Events Few economic dockets scheduled for today and all with low to high risks associated. Upcoming – Japan – Preliminary reading on Machine tools orders will be released at 6:00 GMT. Prior -21.2% y/y. Germany – Bundesbank will release its monthly report...
Market News
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Roberto Jacobs, 16 May 2016, 05:48
EURUSD Daily Forecast: May 16 2016 EURUSD Forecast The EURUSD had a bearish momentum last week bottomed at 1.1282. Price reached the nearest target of the shooting star bearish scenario...
Analytics & Forecasts
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Roberto Jacobs, 16 May 2016, 05:45
GBPUSD Daily Forecast: May 16 2016 GBPUSD Forecast The GBPUSD was indecisive last week but overall still able to maintain its bearish bias since the false break above the daily EMA 200 as you can see on my daily chart below. The bias is bearish in nearest term testing 1.4270/50 region...
Analytics & Forecasts
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Roberto Jacobs, 16 May 2016, 05:43