Dukascopy_Analyst

Dukascopy_Analyst

"They put a lot of caveats in their liftoff. It's a theme that may haunt the dollar." - FXCM (based on Reuters) Pair's Outlook After FOMC meeting minutes said that a rate hike decision was "a close call", market participants decided to sell the Dollar on Wednesday. Gains are being prolonged on Thursday at the moment of writing, with EUR/USD attempting to...

Dukascopy_Analyst

"A stronger U.S. dollar crimped investor demand." - Australia & New Zealand Banking Group Ltd. (based on Bloomberg) Pair's Outlook The bullion spent another trading session in a positive way, as the bulls were strong enough to push prices above 1,075 yesterday. As a result, the two-month downtrend line was crossed and now we are focusing on the next resistance...

Dukascopy_Analyst

"If the upcoming U.S. job data disappoints investors, risk appetite will not come back for a while." - Shinsei Bank (based on CNBC) Pair's Outlook The USD/JPY currency pair failed to rebound on Tuesday, due to the continued sell-off in the Chinese equity market. In wake of this event, the pair inched closer to the 119.00 level, which is likely to be breached...

Dukascopy_Analyst

"Sterling's consistent underperformance over the last month is hard to rationalise. For now, we are not prepared to fight the solid negative trend in GBP, though our medium term outlook remains positive." - RBC (based on Business Recorder) Pair's Outlook The Cable edged lower for the sixth time in a row on Tuesday, but without the immediate support cluster...

Dukascopy_Analyst

"More recently the US dollar has underperformed especially against the euro during less favorable conditions for global investor risk sentiment as long US dollar positions have been reduced." - Bank of Tokyo-Mitsubishi (based on WBP Online) Pair's Outlook EUR/USD was down for a third session in a row on Tuesday. The currency pair was hammered by depressing...

Dukascopy_Analyst

"The Middle East tensions will continue to support gold for the time being." - a trader in Hong Kong (based on CNBC) Pair's Outlook Risk-averse sentiment among market participants made the precious metal increasingly buoyant on Monday. After piercing through the Nov-Dec downtrend line, gold approached a vital resistance in face of the weekly R2, monthly R1,...

Dukascopy_Analyst

"The Japanese yen could outperform amid a continued retreat in expectations for further near-term BOJ easing. This would leave the currency well positioned to benefit from any softer U.S. data flow or rise in risk aversion. Tactically we favour USD/JPY shorts." - CitiFX (based on Reuters) Pair's Outlook The Greenback retreated from intraday losses on Monday,...

Dukascopy_Analyst

"Global weakness could throw a wrench against another U.S. rate hike." - Western Union Business Solutions (based on Business Recorder) Pair's Outlook Cable's volatility yesterday was limited by the immediate support and resistance, while the GBP/USD ended the day relatively unchanged with a slight move to the downside. Even though the pair remains in a bearish...

Dukascopy_Analyst

"Looking ahead, it should take at least until the second half of the year before German headline inflation at least crosses the 1%-threshold again." - ING (based on WBP Online) Pair's Outlook EUR/USD posted minor losses during the first trading day of 2016, even though daily highs and lows ranged from 1.0950 to 1.0780. Weak US production data limited that...

Dukascopy_Analyst

"We are still cautious of choppy and illiquid conditions as there is very little depth in this market at present and could be subject to being pushed around." - MKS Group (based on CNBC) Pair's Outlook The yellow metal saw completely no movement in either direction on Tuesday of this week, given that traders took a pause in the run up to New Year holidays....

Dukascopy_Analyst

"The yen is basically expected to weaken on U.S.-Japanese yield differentials. But it will be exposed to volatility until U.S. economic growth looks assured, and we could see even wider swings in case of a warm winter." - SMBC Nikko Securities (based on Reuters) Pair's Outlook The Greenback managed to outperform the JPY yesterday, due to the boost provided by...

Dukascopy_Analyst

"The Bank of England has recently created more of a divergence in policy expectations between itself and the Fed and that's weighing down more on cable." - Bank of Tokyo-Mitsubishi UFJ Ltd. (based on Bloomberg) Pair's Outlook The Cable was pushed down below the 1.48 major level on Tuesday, amid a strong reading of US fundamental data. Even though trade closed...

Dukascopy_Analyst

"With the last decision it was very clear to me that the hawks took over the steering wheel. That could be the real story for 2016: not only how willing is the ECB to do more but also are they still able to?" - Rabobank International (based on Bloomberg) Pair's Outlook EUR/USD became increasingly turbulent after the US session began yesterday. From daily...

Dukascopy_Analyst

"Over the short-term, the precious metal will likely trend sideways, as funds look to close out the year and contemplate heading into next year with a fresh slate." - INTL FCStone (based on Yahoo Finance) Pair's Outlook The bullion decided to respect a downward trend-line, which connects November and December highs and is currently placed at 1,077. XAU/USD...

Dukascopy_Analyst

"Weak oil prices can push down dollar/yen by continuing to negatively impact high yield bonds, which in turn will worsen overall risk sentiment." - Barclays (based on Reuters) Pair's Outlook The US Dollar managed to edge higher against the Yen on Monday, with the immediate resistance in face of the weekly PP somewhat limiting the volatility and causing the...

Dukascopy_Analyst

Until we get stronger or more hawkish signals from the Fed, the dollar's performance could be somewhat moderate." - Wells Fargo Securities (based on CNBC) Pair's Outlook The Sterling slightly exceeded expectations yesterday, as the corrective decline stretched beyond the immediate support. As a result, the GBP/USD retested the falling wedge's lower border, but...

Dukascopy_Analyst

"People are just in wait-and-see mode and are not quite willing to put on fresh positions there. In their last big statement, they didn't deliver what the markets were expecting." - Bank of New Zealand Ltd. (based on Bloomberg) Pair's Outlook For a second day the most traded FX cross remains largely stuck in between the weekly pivot point and weekly R1 at...

Dukascopy_Analyst

"As it is a holiday shortened week, I don't think we would see much action. Having said that, we could see some sharp moves because of the paltry liquidity in markets." - a precious metals trader in Hong Kong (based on CNBC) Pair's Outlook In the run up to Christmas holidays gold recovered past 20-day SMA to close at 1,075. As the volume of trading kept...