Forex

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WTI stuck in range around $ 63.50 Dhwani Mehta

After a volatile session witnessed on Friday, WTI (oil futures on NYMEX) extends its Asian consolidative phase, although remains underpinned by the remarks from the Saudi Arabian and Iraqi Oil Ministers.The 12:46 22 January /2018 Forex

The Week Ahead - Rabobank Dhwani Mehta

The Research Team at Rabobank offers a list of the key macroeconomic events due on the cards this week from across the globe.Key Quotes:“ECB: The biggest focus for the EUR this week is likely to be the ECB policy meeting on Thursday.While a revision is likely to remove this bias, we expect the March meeting to ...

12:46 22 January /2018 Forex

Iraqi OilMin: Oil market is heading in the right direction Dhwani Mehta

Iraqi Oil Minister Abdul Karim Luaibi is out on the wires now, via Reuters, noting that the oil market is heading in the right direction.Additional Headlines:Global oil market heading to stability.Global oil inventories are falling, contributing to market stability.Market ...

12:23 22 January /2018 Forex

USD/JPY eases from highs, remains capped below 111.00 handle Haresh Menghani

   •  USD fails to build on a modest rebound, despite surging US bond yields.
   •  Cautious environment further underpins JPY’s safe-haven demand.
   •  Focus remains on the Senate vote to fund the government.The USD/JPY pair struggle to move back above the 111.00 handle and quickly retreated around 20-pips from session tops during the early European ses...

12:23 22 January /2018 Forex

USD/CAD in search of a firm direction, ranging below 1.25 handle Haresh Menghani

The USD/CAD pair continued with its struggle to reclaim the key 1.25 psychological mark and extended its consolidative price action through the early European session.A combination of diverging forces did little to provide any fresh impetus and the pair struggled for a firm directional bias at the start of a new trading week. The recent upsurge in ...

12:00 22 January /2018 Forex

EUR/USD rebounds to test 1.2250 on notable USD supply Dhwani Mehta

Fresh bids emerged once again near 1.2215 region, prompting a tepid bounce in the EUR/USD pair back towards the midpoint of the 1.22 handle, as broad-based US dollar selling resumes amid narrowing US-German yields spread.The European traders hit their desks and reacted negatively to the 12:00 22 January /2018 Forex

GBP/USD recovers losses, treasury yields surrender gains Omkar Godbole

GBP/USD found takers at the daily low of 1.3857 and moved higher to 1.3896, possibly due the 10-year treasury yield surrendering the daily gains.As of writing, the spot is exchanging hands at 1.3890. The 10-year yield clocked a high of 2.67 percent; the highest level since July 2014 despite US government shutdown. However, the yield has backed off from the multi...

11:23 22 January /2018 Forex

USD/JPY: remains offered below the 200 day ma - Commerzbank Haresh Menghani

Karen Jones, Analyst at Commerbank maintains a near-term neutral to negative bias for the USD/JPY pair and expects any meaningful bounce to be capped by the 114.38/82 major resistance.Key quotes:“USD/JPY saw a minor bounce higher last week, that remained capped by the 200 day ma and the market remains under pressure. Attention is on the 61.8% ret...

11:00 22 January /2018 Forex

Gold slide to intraday lows, sellers looking to regain control Haresh Menghani

   •  USD recovers early losses led by a government shutdown.
   •  Surging US bond yields add to the downward pressure.
   •  Fading safe-haven demand does little lend any support.Having posted a daily high near the $1336 region, gold came under some selling pressure and has now retreated back below $1330 level. The precious metal initially r...

10:46 22 January /2018 Forex

EUR/GBP offered near 200-day MA, what's next? Omkar Godbole

Currently, EUR/GBP is trading at 0.8814; having clocked a high of 0.8834 and low of 0.8806 earlier today.An attempt to scale the 200-day MA located at 0.8836 ran out of steam at 0.8834, ensuring the two-day trading range of 0.88-0.8840 remains intact.That said, the technicals suggest a downside break could be in the offing. Commerzbank Analyst Karen Jones writes, "EUR/GBP recently failed to clear ...

10:46 22 January /2018 Forex

BoJ to keep its 'QQE with yield curve control' policy unchanged – Danske Bank Dhwani Mehta

Analysts at Danske Bank published their preview on the Bank of Japan (BoJ) monetary policy decision that will be announced tomorrow around 0300 GMT.Key Quotes:“On the BoJ meeting, we expect it to keep its 'QE' with yield curve control' policy unchanged, while Governor Haruhiko Kuroda should downplay the significance of daily market operations and...

10:23 22 January /2018 Forex

EUR/USD closes bullish opening gap, on its way to 1.2200? Dhwani Mehta

Heading into Europe, the EUR/USD pair is seen catching fresh selling-wave, as the bears look to the key support area located near 1.2215 region, a break below which will open floors for a test of the 1.22 handle.The spot witnessed a bullish opening gap in Asia and tested 1.2275 levels, after the US dollar slumped across the ...

10:00 22 January /2018 Forex

AUD/USD consolidates in a range below 0.80 handle Haresh Menghani

   •  Investors looked past a US government shutdown.
   •  Surging US bond yields help revive USD demand.
   •  Overbought conditions warrant near-term consolidation/retracement.The AUD/USD pair struggled for a firm directional bias and was seen consolidating in a narrow trading band, just below the key 0.80 psychological mark. The 10:00 22 January /2018 Forex

GBP/USD headed to psychological resistance at 1.4000? - Commerzbank Dhwani Mehta

Karen Jones, Analyst at Commerzbank, notes that the GBP/USD pair remains poised to challenge the psychological barrier at 1.4000, but markets seem wary of failure at the last.Key Quotes:“GBP/USD spiked higher on Tuesday, various intraday divergences suggest consolidation ahead of a move to psychological resi...

09:46 22 January /2018 Forex

S&P's Kraemer: Prolonged US Govt shutdown could influence Fed’s tightening cycle Dhwani Mehta

In an interview with Bloomberg on Monday, S&P Global Ratings Chief Officer, Moritz Kraemer, expressed his take on the impact of the US government shutdown on the Fed’s monetary policy outlook.Key Points:If shutdown drags on, it might influence Fed's tightening cycleA prolonged shutdown could be a drag on US growth.Every day, there's a loss so ...

09:23 22 January /2018 Forex

AUD/USD - RSI has diverged - Commerzbank Omkar Godbole

AUD/USD hit a new 4-month high of 0.8039 on Friday, but the RSI indicator diverged (lower highs). So, is the AUD/USD in for a short-term correction?Commerzbank Analyst Karen Jones sees a move lower very near term. "Currently the Elliott wave count is suggesting a retracement into the .7930/.7875 band", writes Jones....

09:23 22 January /2018 Forex

USD/JPY rises despite US govt shutdown, yields rise Omkar Godbole

USD/JPY has begun the week on a positive note, trading 0.10 percent higher on the day at 110.80 levels as I write.The dollar found bids around 110.50 levels, seemingly due to the continued ascent of the treasury yields. The 10-year yield rose to 2.672 percent earlier today; its highest level since July 2014.US government remains shutAs per lates...

08:46 22 January /2018 Forex

Forex Today: DXY stabilizes in Asia, a light session ahead Dhwani Mehta

An eventless Asian session, with USD dynamics diving the markets, as the US dollar staged a comeback against its main competitors, as markets shift their attention from the US government shutdown fears to the Fed rate hike bets while Treasury yields extend their bullish momentum. The USD/JPY pair bounced-back towards 111 handle, up +0.10% on the day while the Ant...

08:23 22 January /2018 Forex

Kuroda still favourite for a 2nd term as BOJ governor - Bloomberg survey Dhwani Mehta

According to the results of the latest Bloomberg survey, the current Bank of Japan (BoJ) Governor Kuroda still remains a favorite to serve the second term as the central bank head.See the image below (courtesy BBG): 

07:46 22 January /2018 Forex

Gold: Weaker near $ 1330 amid rising Treasury yields Dhwani Mehta

Gold futures on Comex trade on the back foot on the first trading day of a new week, having booked first weekly loss in six last week, as rising Treasury yields on the Fed rate hike prospects continue to pressure the non-yielding yellow metal.Gold s...

07:23 22 January /2018 Forex