Currency

Here’s the market outlook for the week: EURUSD Dominant bias: Bearish Last week, this pair moved largely sideways in the context of a downtrend. A break out of the sideways movement should happen before the end of this week (or next week), which would most probably favor bears. Although this pair is expected to continue […]

Philip Hammond’s Autumn statement yesterday was busy, as he set his sights on curbing Brexit’s potential economic affect. He hopes to use £23bn from the National Productivity Investment Fund on new homes, transport connections, research & development, and invest in the digital sector, hoping to keep the economy booming with the expected downturn in outlook […]

Tonight, we have the FOMC minutes from the last meeting. Currently, the market is over 90% confident that the FOMC will hike interest rates in December and this has been priced in. Therefore, attention for the minutes will be on the 2017 outlook and the scope for future interest rate increases. Any Fed projections will […]

Theresa May spoke yesterday in an attempt to calm fears over Brexit. She acknowledged that the process will be bumpy and time consuming, but stated she was keen to avoid a ‘cliff edge’ of uncertainty for Britain. The new PM has recently stated she is still aiming for March 2017 to activate Article 50, even […]

In the week ahead, we’ll get the post Brexit Autumn Statement from the UK, which will provide us with a detailed outlook for the public finances. The statement is likely to lean towards increased borrowing and higher deficits, which could leave the UK vulnerable in the event of an economic shock. Meanwhile, over in the […]

Would Thanksgiving Rally Happen This Year? GOLD (XAUUSD) is currently weak, owing to another phase of a southward movement, which started a few months ago. The downtrend has been particularly strong since October. This week would be interesting because of a possibility of a Thanksgiving rally. Would it ever happen this year? Thanksgiving rally has […]

The USD/CHF managed to climb above the great psychological level at 1.0000 last week, and testing the resistance level at 1.0100. Price may be able to target the resistance level at 1.0200 this week, but any signs of weakness in USD may send the pair plunging below the psychological level at 1.0000. EUR/USD: This pair […]

Here’s the market outlook for the week: EURUSD Dominant bias: Bearish This pair went downwards last week, going below the resistance lines at 1.0650 and 1.0600. Since November 9, price has come down more than 700 pips, leading to a very strong bearish bias on the market. There is a possibility of further downwards movement, […]

Yesterday, all eyes were on Janet Yellen’s testimony on the economic outlook, delivered before the Joint Economic Committee. Yellen readied markets for an interest rate rise to come ‘relatively soon’, noting that the case for a hike would continue to strengthen as long as the macroeconomic environment remained strong.   She also signalled the need […]

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