Dukascopy_Analyst

Dukascopy_Analyst

"If we are correct with our call for a more challenging Late Cycle investment environment, expect the JPY to enjoy many more days similar to those seen in the middle of August when it looked like the PBOC was de-valuing the CNY." - ING (based on FXStreet) Pair's Outlook As was anticipated, the USD/JPY dropped lower through the end of the previous week, after...

Dukascopy_Analyst

"Given a lack of fresh trading cues about the U.S. economic fundamentals, it's hard to assume a further dollar selling." - Analyst at a Japanese brokerage house (based on Market Watch) Pair's Outlook The British currency ended last week with another rally, rebounding from intraday low and, thus, erasing all previous week's losses. Today the Sterling remains...

Dukascopy_Analyst

"There could be some sudden moves though as small orders can move the market unpredictably. Volatility tends to increase towards the end of the year." - FXPrimus Europe (based on Reuters) Pair's Outlook During the next few days EUR/USD is projected to develop sideways, owing to lack of fundamental drivers and low trading volume. The latter continued to fall...

Dukascopy_Analyst

"Gold prices will be determined more by trading volume, than any monetary or fundamental development over the holiday period." - HSBC (based on CNBC) Pair's Outlook The yellow metal made no confident attempts to violate the July low and 20-day SMA on Wednesday. However, eventually it managed to close under the latter line, but today we expect the bullion's...

Dukascopy_Analyst

"If U.S. data remains broadly in line with the Fed's expectations, we suspect the USD will be off to a positive start in 2016 as there is plenty of scope for rates markets to price in more Fed hikes." - BNP Paribas (based on Reuters) Pair's Outlook The US Dollar suffered another loss against the Yen yesterday, due to another set of poor fundamental data. As a...

Dukascopy_Analyst

"In 2016, the GBP is likely to remain vulnerable most obviously against the USD. The pound in particular should suffer from a mix of fiscal contraction constraining the BOE tightening cycle, making a deficit more difficult to finance, most especially in the face of ‘Brexit' uncertainties." - Deutsche Bank (based on PoundSterlingLive) Pair's Outlook...

Dukascopy_Analyst

"The market consensus is becoming less and less bullish on further ECB action. The other thing is the Fed. Expectations have scaled up a little bit in terms of the number of potential rate hikes for 2016." - SEB AB (based on Bloomberg) Pair's Outlook EUR/USD attempted to push itself below the weekly pivot point and monthly R1 around 1.09 on Wednesday. However,...

Dukascopy_Analyst

"There's some paring of outstanding dollar long positions with investors reluctant to carry dollar exposure into the holidays." - National Australia Bank Ltd. (based on Bloomberg) Pair's Outlook Another bullish trading session was registered by the most traded FX cross on Tuesday. Daily gains amounted to 40 pips, but it was enough to violate the 55-day SMA at...

Dukascopy_Analyst

"A major stumbling block for a further gold rally is oil, and commodity prices in general." - HSBC (based on CNBC) Pair's Outlook A rally, which commenced last Friday, has been successfully prolonged during the past 24 hours. Gold advanced above the July low and 20-day SMA to close slightly below the weekly R1 at 1,077. Now the focus is shifting to the monthly...

Dukascopy_Analyst

"With the Fed's rate hike at the end of 2015, a new phase of divergence is at hand...we expect the Obama dollar rally to continue in 2016." - BBH (based on Reuters) Pair's Outlook The US Dollar retreated from intraday gains on Monday, as an unexpected sell-off pushed the currency below the immediate support. Nevertheless, trade closed with the USD/JPY...

Dukascopy_Analyst

"I find it hard to imagine big moves in the dollar against the euro or yen by the end of the year, but there is certainly some potential for it to gain against sterling or some of the commodity-linked currencies." - Bank of New York Mellon (based on Business Recorder) Pair's Outlook The Sterling failed to rebound yesterday, as it dropped below the 1.49 level...

Dukascopy_Analyst

"The euro is at a level where it's cheap enough. There's no justification to try and manipulate it even lower, but that doesn't mean Draghi won't do it." - Santander (based on Bloomberg) Pair's Outlook EUR/USD performed in a confident up-trend on Monday, although the day brought very few fundamental drivers. The pair closed above the weekly pivot point and...

Dukascopy_Analyst

"Any dollar/yen appreciation won't come at once, it will rise a step at a time. The next lift will likely come in the next quarter, when the second hike comes up on the agenda." - FPG Securities (based on Reuters) Pair's Outlook A group of SMAs helped the US Dollar extend its gains and retake the 122.00 major level, with volatility limited by the monthly PP and...

Dukascopy_Analyst

"The dollar's strength may persist for a while, as investors feel the mood right after the rate increase, but then may turn top-heavy." - Bank of Tokyo-Mitsubishi UFJ (based on Market Watch) Pair's Outlook Due to the Fed delivering no surprises on Wednesday, the markets had a rather mild reaction to the news. Nonetheless, the Cable ended the day with a slump...

Dukascopy_Analyst

"The Fed created some balance between expectation for higher rates in 2016 with a dovish overtone regarding the ‘gradual' pace. That's why you're not seeing a stronger rally on the greenback." - Silicon Valley Bank (based on Bloomberg) Pair's Outlook EUR/USD registered a mild decline on Wednesday, just after the Fed announced a decision to raise the key interest...

Dukascopy_Analyst

"From the BOJ, nothing is expected. People are still unloading their dollar-long position ahead of the Fed." - Global-info Co (based on Reuters) Pair's Outlook The USD/JPY experienced serious volatility on Friday, with trade closing in at the target support at 120.98, namely the monthly S1. The demand for safe-haven Yen was higher on Friday, created by the grim...

Dukascopy_Analyst

"With the Fed decision only two days away, price fluctuations will be limited as a rate hike is already priced in." - Wing Fung Financial Group (based on CNBC) Pair's Outlook Price movements ranged from 1,062 to 1,079 on Friday of the previous week. Nevertheless, neither bulls nor bears managed to get control into their hands, meaning gold was practically flat by...

Dukascopy_Analyst

"Against the backdrop of sound growth, higher interest rates and muted inflation, gold should remain out of favour among investors." - Julius Baer (based on The Economic Times) Pair's Outlook Volatility of gold prices remains quite high for the moment, as we are nearing the crucial meeting of the Fed, which is weighing on the Dollar's value. Yesterday we saw...