JinDao_Tai

JinDao_Tai Updated 

The USD closed the week with strength following approval of the tax reform With likely re-election of president Abe, we are likely to see continued sentiment for a weaker JPY Hence, I'm looking for the U/J to approach the near term resistance 114.30

JinDao_Tai Updated 

If price breaks support level of 132, we could see E/J move lower. Price is anticipated to move lower due to the potential conflict in North Korea, and the EUR strength being resisted at the 1.20 level.

JinDao_Tai Updated 

Will we see the australian economy easing as we approach the end of the year? Or will the RBA maintain their stance on holding rates at 1.50% with potential increases in mid 2018. I expect a relatively hawkish tone from the RBA, and if price breaks above 0.79, could see it climbing towards the next resistance level

JinDao_Tai Updated 

A strong NZD CPI 0.4% or higher could continue to push the NZD/USD higher. A break of resistance 0.72 could see 0.73 come into target

JinDao_Tai

I expect the RBA minutes to take a hawkish tone, signalling intention to keep rates at 1.50% with potential increase in 2018

JinDao_Tai Updated 

Will the Bank of Canada increase interest rates back to 0.75% since May 2015? Comments arising from the BoC brings up the issue of a lag between when the economy is running at full pelt AND when inflation starts to increase. Therefore, the BoC could be looking to increase rates, to provide the space for adjustments in the future (ie. increase, so that they have...

JinDao_Tai

From my initial analysis in mid-june, the USDJPY had a strong rejection of the 109.50 support level and moved over 450pips, forming a strong uptrend. Although we have been seeing weakness in the US Dollar, the USDJPY had still continued climbing. Therefore, it would be important to see if price is able to breach the 114 resistance level, to continue its...

JinDao_Tai Updated 

RBNZ interest rate decision this week, with an expectation for rates to be held at 1.75% However, it would be crucial to pay attention to the tone of the statement accompanying the decision. The last time NZD/USD approached these prices where in early Feb 2017. And the accompanying rate statement stated: " The exchange rate remains higher than is sustainable ...

JinDao_Tai

Due to solid job gains and decreasing unemployment, increase in household spending and expansion of business investment, the US FOMC decided to increase interest rates, on June 14th. With a rather hawkish statement accompanying this decision, the US Dollar quickly gained strength, bouncing off the 96.45 support level. Whilst some of this gain was reversed at the...

JinDao_Tai Updated 

Alot of MAJOR economic news this week, paying extra focus to the US FOMC rate and the BOJ monetary policy decisions. Looking at the USD The FOMC had planned 3 rate hikes for 2017 (Mar, Jun, Sept) While we anticipate the FOMC to increase rates in this June meeting, we should pay attention to the statement paired with the decision. This is because, recent...

JinDao_Tai Updated 

The NZD/USD move which started on 12th May, has climbed almost 350 pips upwards. But it has halted at resistance level 0.7225 Will the kiwi continue its climb or reverse at this point? A strong reversal would require several conditions to occur 1) failure of price to break resistance to move higher 2) strong FOMC commentart, leading to stronger USD 3) weak NZD...

JinDao_Tai Updated 

Can the EUR/USD maintain its upward trajectory, breaking above 1.13 and move towards 1.14? The Euro has been one of the main beneficiary from the weakening of the USD. ECB will be making a rate decision on Thursday, followed with a press conference with chair Mario. I believe that the news event might have muted activity (as the UK will be conducting their...

JinDao_Tai Updated 

On Tuesday, the RBA will be releasing their interest rate (cash rate) decision. My anticipation is for the decision to keep the cash rate on hold. I'll be paying attention to the tone of the statement, which will be released at the same time I expect the statement to be similiar as previous month, indicating evidence of growth, with a statement that a weaker AUD...

JinDao_Tai

ECB chief Mario Draghi speaks on Monday evening (GMT +8) testifying about the economy and monetary developments. The tone of Draghi's speech could result in a temporary weaker EUR/USD, despite the strong uptrend it has been enjoying recently. In addition to the fundamental policies and tone of the speech conveyed by Draghi, in technical aspects, if price of...

JinDao_Tai

Despite releasing strong economic data for the month of May, I believe the GBP/USD climb has not only ended (as exhibited with its 150pip drop last friday) but the decline is likely to continue further. The 150pip drop was due to to news that the governing Conservatives' lead over the Labour opposition down to just 5 percentage points weeks before the...

JinDao_Tai Updated 

While I anticipate a weaker USD to continue, this could bring the USD/CAD lower This is likely to happen, especially if price is able to break current support (1.35) Furthermore, the Canadian decision on Wednesday is likely to keep rates on hold. The decision to hold rates and to the tone of the rate statement, is likely to bring USD/CAD lower, possibly breaking...

JinDao_Tai Updated 

Over the past couple of weeks, the EUR/USD has been making higher highs. This is led to many analysts calling tops... and yet it continues to go higher. Remember, the trend is your friend. Therefore, if EUR/USD is unable to break/bounces off the support level of 1.1160, we are likely to see EUR sustain its run and make higher highs towards the 1.13...

JinDao_Tai Updated 

Been working through this with my group of mentees Rather quiet on the fundamental side of things Technical play, USD/CAD seem to had a retracement and bounced off support 1.3600