Forex News

Daily Forex Technical Strategy (Tues 17 Dec)

GBP/USD – At risk of shaping a medium-term pull-back click to enlarge charts The pair has rallied up towards the expected target/resistance of 1.3300 as per highlighted in our previous report (click here for a recap). It has printed an intraday high of 1.3515 on last Fri, 13 Dec early Asian session when exit poll …

Market Brief: Festive Cheer Continues For Stocks

View our guide on how to interpret the FX Dashboard FX Brief: RBA appear on track to cut rates in 2020, with February being flagged as the meeting to “reassess the economic outlook”. With plenty of data between now and then (including CPI and 2x employment reports) it leaves plenty to move the needle between …

RBA Headed For A Cut In Feb 2020?

We highlighted after their statement earlier this month that the RBA could ‘ease’ their way into 2020, and the release of today’s minutes reaffirms this view. Noting February as a key date for them to “reassess the economic outlook”, data heading into next year is of vital importance to establish if February will be a …

Weekly COT Report: Sterling Bears Unloaded Shorts Ahead Of UK Election

As of Tuesday 10th December: Large speculators reduced net-long exposure to USD by -$1.6 billion to $18.2 billion. On the DXY, traders are their least bullish since July 2018 Minor weekly changes to net positioning overall. GBP saw the largest, with short exposure falling -7.4k contracts ahead of the UK election. Trader were their most …

Market Brief: Traders Seek Clarity Over Phase One Hype

View our guide on how to interpret the FX Dashboard FX Brief: Currency markets traded in tight ranges whilst traders awaited more clarity over the much-hyped phase-1 trade deal. Meanwhile, US Trade Representative Lighthizer is claiming the deal is “totally done” and will nearly double US exports to China over the next couple of years. Quite …

Yuan bulls do not be complacent after Phase One trade deal

The USD/CNH (offshore Yuan) has witnessed its biggest single day intraday drop of 1023 pips/-1.46% in 3-month since 02 Sep 2019 to print an intraday low of 6.9230 on last Thurs, 12 Dec 2019 after news broke out that U.S and China have agreed to the terms of the “much hyped” Phase One trade deal. …

Pound off highs after big win for Tories

The pound soared to above $1.35 in the immediate aftermath of the exit polls being released last night and although actual votes have more or less confirmed the big win for PM Boris Johnson’s Conservatives, sterling has given up more than 100 pips. This is, above all, because of profit-taking. Remember, sterling had been rising …

Retail Sales Weaker but China Trumps Data

US Retail Sales (MoM) for November was 0.1% was 0.5% expected, which was a huge miss in the data.  October’s number was revised slightly higher to 0.4% from 0.3%, however that was not enough to make up for this month’s miss.  In addition,  The Core Retail Sales (MoM) was 0.1% for November vs 0.3% expected.  …

Week Ahead: Beginning of End of Trade War and Brexit?

Economic data will be winding down as year-end approaches, although there are still a few important events scheduled for next week. Investors certainly seem to be in a buoyant festive mood as we head towards Christmas. The US and China finally agreed to a phase one trade agreement, which will be signed when the two …

1 2 12 13 14 15 16 74 75