Market Analysis

09/02/2014 - 14:09
Key events to watch on September 3 (Wednesday) CNY: Non-Manufacturing PMI, HSBC Services PMI AUD: Q2 GDP, RBA Gov Stevens Speaks EUR: Spanish Services PMI, Italian Services PMI, Final Euro Zone Services PMI, Retail Sales GBP: Halifax HPI, Services PMI CAD: BOC Rate Statement, Overnight Rate USD: Factory Orders, Beige Book Trade ideas EUR/USD has spent the first 2 days of the week in the $1.3125 area. The single currency lacks movement ahead of the ECB’s meeting on Thursday. Tomorrow the pair...
09/02/2014 - 08:38
Felipe Erazo The EURUSD has encountered resistance near the level of 1.3145, where the pair performed a pullback now to strengthen the resistance level of 1.3137 in the H1 chart. This pair is forming a lower low pattern above the support level of 1.3119. If this pair consolidate below that level, it would be expected to fall until the support level of 1.3081, touching new weekly low levels. The RSI indicator remains in negative territory. Trading recommendations: Put sell orders if the EURUSD...
09/02/2014 - 08:37
Felipe Erazo The EURGBP has been moved in range in the last hours, finding support above the 0.7891 level, which increases the probability that this pair make a retracement to the resistance level of 0.7924 in the H1 chart. Now, the EURGBP would be conducting a bearish consolidation below the 200 EMA. If this pair make a breakout to the resistance level of 0.7932, it’s expected that it rises to the level of 0.7958, which could endanger the current bearish trend in this chart. On the other hand...
08/29/2014 - 15:31
   By Elizaveta Belugina Another week and another new minimum for EUR/USD. Euro had no reasons to rise. Inflation in the region’s powerhouse – Germany – is at the zero level and prices are falling in the troubled Spain. Inflation in the entire euro area declined to 0.3% in August, though the core reading, which doesn’t take into account the volatile energy prices, has edged up to 0.9%. The markets will be now waiting to see the reaction of the ECB to these data. The highlight of the next week...
08/29/2014 - 15:29
  By Elizaveta Belugina The past week was less successful for the US dollar than the previous one. Geopolitical risks made investors increase demand for save haven Japanese yen. Australian dollar gained as well as there were some upbeat data from Australia. Higher yields than in Europe make Australian currency attractive for investors. American economy showed that it’s in good shape. Last week I said that we’ll see whether US GDP actually increased by 4% in Q2 – well as it turned out American...
08/29/2014 - 14:20
Kira Iukhtenko, FBS analyst The cable slowed its bearish parade on the past week, but remains in a clear-cut descending channel since mid-July. The market cried for a bullish correction after 7 consecutive weeks of losses, but we are convinced that the price won’t return back above $1.6700 in the foreseeable future. Our next bearish targets for the cable lie at $1.6460 and $1.6300. What are the reasons to stay bearish for GBP/USD? We see two of them. Firstly, investors have evidently...
08/29/2014 - 14:17
Kira Iukhtenko, FBS analyst This week USD/JPY failed to extend the upside, retracing down from the 104.20 resistance. Safe-haven Japanese yen attracts investors as geopolitical tensions in Ukraine stay on the central stage. Japan data released on Friday confirmed a loss of economic momentum: July industrial production missed estimates, while household spending slumped. Consumption in Japan was hurt by the inflation generated by the BOJ stimulus and the sales tax hike In April. Japan disposable...
08/28/2014 - 13:47
Key market drivers for August 29 (Friday): NZD: ANZ Business Confidence (01:00 GMT) EUR: CPI Flash Estimate, Unemployment Rate (09:00 GMT) CAD: GDP (12:30 GMT) USD: Core PCE Price Index, Personal Spending (12:30 GMT), Chicago PMI (14:00 GMT) Trade ideas EUR/USD remains range bound. The pair tested Friday’s low at $1.3220, but then returned to $1.3170. The combination of weaker data from the euro area (German inflation has slowed down, Spanish CPI fell more than expected) and better figures...

Pages