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Plenty of Distraction Ahead of ECB, ADP The primary focus is on Fed policy and whether or not the central bank will actually move this summer. But into Thursday, there are also some currency specific storylines captivating market participants' attention...
Currency
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Roberto Jacobs, 2 June 2016, 10:21
Target Level : 109.59 Target Period : 8 hours Analysis : Falling Wedge identified at 02-Jun-05:00 2016 GMT. This pattern is still in the process of forming. Possible bullish price movement towards the resistance 109.59 within the next 8 hours. Resistance Levels...
Charts
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Lahcene Ouled Moussa, 2 June 2016, 10:17
Daily Analysis of USDX for June 02, 2016 USDX is showing weakness on a short-term basis, as it's currently testing the 200 SMA price zone on the H1 chart. However, the next strong support can be found around the 95.22 level, which acted as a barrier for sellers during the May 23th session...
Analytics & Forecasts
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Roberto Jacobs, 2 June 2016, 10:16
Daily Analysis of GBP/USD for June 02, 2016 GBP/USD had a very weak session yesterday after posting new lows. Currently it's testing the support level of 1.4408. A rebound can be expected to re-test the resistance zone of 1...
Analytics & Forecasts
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Roberto Jacobs, 2 June 2016, 10:11
FxWirePro: GBP/CAD Trades Well Below 1.9000 Handle, Good to Sell on Rallies GBP/CAD broken major support 1.89885 on May 31st 2016 and started to fall drastically. It has declined till 1.88214. It is currently trading around 1.88701...
Analytics & Forecasts
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Roberto Jacobs, 2 June 2016, 10:06
USDCAD to Move Over 1.33 as We Approach Next Year David Tulk, Chief Canada Macro Strategist at Toronto Dominion Bank, on Canadian economy On May 6, the Bank of Montreal lowered Canada's growth forecasts for the Q2 from 1.5% to zero, due to the Fort McMurray wildfires...
Analytics & Forecasts
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Roberto Jacobs, 2 June 2016, 09:58
Daily Forex Fundamental Overview Fundamental Analysis EUR "Manufacturing in the euro area remained stuck in a state of near stagnation, failing to break out of the slow growth phase that has plagued producers since February". - Chris Williams, Markit's chief economist...
Analytics & Forecasts
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Roberto Jacobs, 2 June 2016, 09:56
CAD: Currency Index & Volatility Relative Currency Strength While remaining in a fairly narrow range, the observed indexes still managed to show some impressively sharp moves in the past five trading days...
Currency
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Roberto Jacobs, 2 June 2016, 09:53
USD Stays in the Defensive Despite Decent ISM On Wednesday, risk sentiment deteriorated in Europe. Mediocre Chinese data, a poor OECD outlook and rising Brexit tensions weighed on global sentiment...
Analytics & Forecasts
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Roberto Jacobs, 2 June 2016, 09:51
Gold Attempting a Move Back to 100-DMA Near $1220 Gold maintained its bid tone on Wednesday and is inching back towards 100-day SMA to currently trade near $1217 level market participants brace for a substantial increase in volatility heading into the ECB monetary policy decision on Thursday and...
Analytics & Forecasts
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Roberto Jacobs, 2 June 2016, 09:48 #gold
EUR/GBP Expected to Gain Further Traction – Danske Bank Jens Sorensen, Chief Analyst at Danske Bank, sees the European cross edging higher in the next weeks. Key Quotes “GBP suffered further yesterday and EUR/GBP rose to 0.7750 as Brexit concerns have reappeared in the financial markets”...
Analytics & Forecasts
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Roberto Jacobs, 2 June 2016, 09:41
ECB Preview: Time to Stay Put – Danske Bank Senior Analyst, Pernille Bomholdt Henneberg at Danske Bank, expects the ECB to maintain its patient stance at the meeting today and not send any new signals about more easing...
Currency
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Roberto Jacobs, 2 June 2016, 09:39
GBP/USD Clinches Highs Near 1.4450 The sterling met some buying pressure early in Europe today, lifting GBP/USD to the mid-1.4400s, or dailyhighs...
Analytics & Forecasts
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Roberto Jacobs, 2 June 2016, 09:37
FxWirePro: Possible 'Bearish Cypher' on NZD/USD Dailies New Zealand economy is looking solid and yesterday terms of trade saw a 4.4% rise, which is one of many “fundamentals”. RBNZ’s meeting next week (which will be accompanied by a full Monetary Policy Statement) is a major event risk...
Analytics & Forecasts
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Roberto Jacobs, 2 June 2016, 09:31 #nzdusd
EUR/USD: Struggle with 1.1200 Extends, ECB in Focus The offered tone surrounding the US dollar appears to weaken a bit ahead of the European open, keeping EUR/USD flat-lined around 1.12 handle. EUR/USD falls sharply from above 100-DMA Currently, EUR/USD trades modestly higher at 1...
Analytics & Forecasts
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Roberto Jacobs, 2 June 2016, 08:59
GBP/USD Support Seen at 1.4333/1.4261 – Commerzbank In view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, Cable should remain well supported in the 1.4333/1.4261 area...
Analytics & Forecasts
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Roberto Jacobs, 2 June 2016, 08:57
USD/JPY Recovers to Trade Back Above 109.00 Level Yen continues to surge on risk aversion with the USD/JPY pair dipping below 109.00 handle before staging a minor recovery to currently trade around 109.30 level...
Analytics & Forecasts
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Roberto Jacobs, 2 June 2016, 08:54
USD/CAD Sidelined Below 1.31, OPEC Eyed The greenback is trading almost unchanged vs. its neighbour on Thursday, taking USD/CAD to the 1.3080 area ahead of the key OPEC meeting. USD/CAD focus on OPEC, EIA Spot is extending its consolidative pattern south of the 1...
Analytics & Forecasts
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Roberto Jacobs, 2 June 2016, 08:50
OPEC Meeting Preview: What to Expect of Oil? Oil benchmarks on both sides of Atlantic fluctuated between gains and losses this Thursday, unable to find a clear direction, as oil markets closely monitor developments surrounding today’s OPEC ministers meet in Vienna...
Crude Oil
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Roberto Jacobs, 2 June 2016, 08:35
AUD/USD Capped at 200-DMA, Drops Below 0.7250 on Global Risk-Off After failing to sustain its strength back above the very important 200-day SMA, the AUD/USD pair is trading weak below 0.7250 despite of better-than-expected trade-balance data...
Analytics & Forecasts
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Roberto Jacobs, 2 June 2016, 08:28