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Khurram Mustafa
European Central Bank President Mario Draghi is due to speak during the European evening, at 19:00 GMT and investors will be paying close attention for further clarity regarding a possible action in December Latest ECB meeting raised speculation the ECB could expand its QE program in December...
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Khurram Mustafa
Published post Data
Analyst at ING, James Knightly, explained that yesterday’s surprise jump in the manufacturing PMI is at odds with other survey evidence suggesting sterling strength and weak external demand is holding back the sector...
130
Khurram Mustafa
Published post GBPUSD
The graceful upward trajectory staged by the GBP/USD on the daily chart, finds an offsetting bearish harami, a pattern comparable to an Western inside bar. Prices challenged the 21-period 2-standard deviation upper band by printing outside of its boundaries in the last two days...
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Khurram Mustafa
Gained momentum and bounced from below 186.00 breaking above 186.40, where previous highs lied and peaked at 186.68. It remains trading near the highs with a bullish tone and eyeing yesterday’s highs that lie at 186.96. The area around 187.00 is the immediate barrier to consider...
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Khurram Mustafa
NZD/USD is currently trading at 0.6675 with a high of 0.6783 and a low of 0.6651. NZD/USD reversed the bid when it had been following suit of the Aussie in early Asia on the back of the run up to the RBA meeting...
80
Khurram Mustafa
The graceful upward trajectory staged by the GBP/USD on the daily chart, finds an offsetting bearish harami, a pattern comparable to an Western inside bar. Prices challenged the 21-period 2-standard deviation upper band by printing outside of its boundaries in the last two days...
85
Khurram Mustafa
Overnight, the RBA left rates steady at 2.0% and the Aussie rallied 0.5% but ran into supply with a strong greenback across the board. The price was drifting on the bid in early Asia from the mid point of the 0.71 handle and was propelled on the event to score territory above the 0...
147
Khurram Mustafa
continued to rise despite weaker-than-expected US economic data. The pair recently reached at 0.9922, the highest level since last Thursday and it remains near the top...
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104
Khurram Mustafa
Published post US Dollar
The greenback, gauged by the US Dollar Index, is sharply appreciating vs. its main rivals on Tuesday, flirting with daily tops in the mid-97.00s. US Dollar gives away gains post-US releases The index has abandoned the area of session highs after another disappointment from the US docket...
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Khurram Mustafa
Published post Overview
Monday’s bland US ISM manufacturing PMI of 50.1 diluted the spice of last week’s hawkish FOMC statement which had benefited the USD bulls. This has been the lowest ISM figure in two and a half years, and one which slowly gravitates to contractionary levels below 50...
100
Khurram Mustafa
After climbing near 1.3160, or session highs, USD/CAD has now returned to the 1.3120 area following the US releases. USD/CAD trims gains on US results Spot has surrendered part of the earlier gains after US Factory Orders have surprised investors to the downside during September, contracting 1...
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Khurram Mustafa
Published post GOLD
Prices continue to trade near daily lows despite dismal US data as traders remain focused on fEd rate outlook. Eyes key fib support The metal is trading within a touching distance from USD 1120.60/Oz, which is the 61.8% of Jul low to Oct high move...
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Khurram Mustafa
The dollar gathered momentum and dragged EUR/USD to fresh lows sub-1.0950 despite the latest string of US data came in the soft side. US factory orders fell 1.0% in September against a decrease of 0.9% expected, while prior months’ were revised down to -2.1% from -1.9...
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113
Khurram Mustafa
The slide in the GBP/USD stalled, making way for a minor correction after the US reported a drop in its factory orders in October, along with a fall in IBD/TIPP economic optimism index. Back above hourly 100-MA The spot is now back above its hourly 100-MA at 1...
104
Khurram Mustafa
The greenback keeps the upbeat tone vs. the Japanese currency on Tuesday, nw sending USD/JPY to session tops in the boundaries of 121.20...
113
Khurram Mustafa
Published post EURCHF
EUR/CHF sellers stood their ground and buyers retreated in recent sessions as MACD (26, 12, 9) has fallen off below its median line. On a 4hr chart, this technical condition may be taken by many trend-following traders as a trigger to liquidate long positions...
104
Khurram Mustafa
Published post GOLD Revisits
prices in EUR terms are trading around the previous session’s low of EUR 1026.13, but stay relatively resilient compared to Gold (USD) on account of a drop in the EUR/USD pair...
150
Khurram Mustafa
Published post ISM Bottomed out?
Senior Analyst at Danske Bank Signe Roed-Frederiksen has assessed the recent figures from the key indicator in the US economy. Key Quotes “The US manufacturing ISM for October declined to 50.1 from 50.2 (consensus expectations 50.0, Danske Bank 49...
116
Khurram Mustafa
Published post OIL
Oil prices rallied despite the broad based USD strength ahead of the weekly supply data in the US. At the time of writing, the Brent futures were up 77 cents or 1.5% higher at USD 49.56/barrel, while WTI futures were up 95 cents or 2% at USD 47.09/barrel. The USD index rose 0...
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Khurram Mustafa
Published post Russian, Austraila
RUSSIA The perspective for the Russian currency remains neutral for the time being, according to BofA Merrill Lynch Global Research. Key Quotes “We remain neutral on RUB, as our commodity team sees stable oil prices through yearend and with the CBR committed to buying USD if RUB falls below 60...
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