Euro News

With regards to the latest Brexit scenario, pro-EU campaigners have, unsurprisingly, declined the backing of a new legal challenge regarding the Brexit outcome. Migration reform and continued access to the single market are key issues that continue to arise throughout the debate, and there are rumours that both could be kept by triggering Article 50, […]

The US dollar ended the week mixed in thin holiday-trading conditions, as traders await key economic data due this week. In terms of data, Friday saw the US Trade Deficit fall to -$62.0b in October, worse than expectation of -$59.2b, while the UK GDP in Q3 was left untouched at 0.5% qq. The main interest […]

The GBP/USD moved sideways throughout last week, resulting in a neutral bias in the near-term. The neutral bias has been going on for about two weeks, while the dominant bias on higher timeframes is bearish. A break out of the sideways movement is expected this week or next, and would most probably favor bears. EUR/USD: […]

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 […]

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, […]