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Daily Market Analysis by ForexMart

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Post by AppleFXMart Wed Feb 08, 2017 9:21 am


AUD/USD Fundamental Analysis: February 8, 2017

The pair sustains its uptrend from 0.7159 as the former decline at 0.7695 is a consolidation in the upper channel. The price ranges between 0.7571 and 0.7695 levels in the next days to come and the price could further go up towards the 0.7800 mark after consolidation. The main support level is found at 0.7511 and if the price breaks at this area, this implies the uptrend is complete.

The Australian dollar was affected overnight when Chinese Reserves data slumped lower than the psychological $3 Trillion. The broader greenback was hold back from a tailwind while commodity currencies steadily holds compared to a general currency where China could lessen their commodity purchases. However, there are elevated risks in the market as the Chinese reserves continues to go down.

The RBA decision remains neutral which is already expected as the Aussie maintains the high trading. Traders remain cautious as the central bank might become dovish or might recover as it might move higher from the latest weakness of GDP and inflation. The Fed has strongly sent a message to push through the rate hike on March and is still behind and could get even worse. The dollar bulls having a hard time in the market as they try to fight for the current significant psychological levels.

The oil market also was not able to sustain the commodity prices this morning with the Western Texas Intermediate (WTI) are mostly accessed when the U.S. Crude oil inventories increased in number as much as 14,227 million barrels, considered as the second highest gains in U.S. History.

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Post by AppleFXMart Wed Feb 08, 2017 9:53 am

February 8, 2017

Positive Reports Indicating Italy's Economic Recovery

Italy’s economy is performing well as it grew for the past three months signaling a stabilizing growth pace of the economy as statistics shown. Despite the uncertainty in the first half last year, the country was able to recover supported by the monthly report short-term economic forecasts by the national statistics agency ISTAT.

Results were further supported by the improving manufacturing sector, household purchasing power and higher investment. However, the consumer confidence index declines due to the current weak economic condition. On a brighter side, the business confidence has significantly advanced. This was greatly influenced by the manufacturing sector increased by 0.7% In November. Other sectors such as the foreign trade and and Household Consumption climbed by 2.2% and 0.3% respectively in the third quarter last year.

This remarkable results coincides with the expectations of the government and optimistic that this will lessen the fiscal adjustment needed from the European Union.

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Post by AppleFXMart Wed Feb 08, 2017 9:54 am


February 8, 2017

Euro Falls from Grace as Elections Increase EU Exit Concerns

The EUR dropped for the second consecutive day as the impending national elections increased concerns with regards to the fate of the eurozone. The euro dropped to its lowest levels in two months against the JPY following an onslaught of protectionist policies from various EU leaders who are pitching against themselves in the forthcoming European elections in the coming months. EU members are also very concerned with the German elections, since a lot of analysts are speculating that the eurozone might fall apart once Angela Merkel loses in Germany’s parliamentary ballot and Marine Le Pen wins in France’s presidential elections.

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Post by AppleFXMart Mon Feb 13, 2017 6:53 am


USD/CAD Technical Analysis: February 13, 2017

The USDCAD was neutral amid Friday night trades. The Asian recovery slowed down overhead the level 1.3120. The greens tried to resume its gains but attempts failed. Renewed selling pressure affected the spot rebounding the price lower than 1.3120 during afternoon session.

The USD fall behind 1.3050 level prior to the opening of the New York hours.

According to the 4-hour chart, the rebounded the 50-EMA lower and tested the 100-day moving averages. The pair is confined under the 200 and 100-EMA throughout the day. The 100 and 50-EMAs is neutralize while 200-EMA moved lower as shown in the same timeframe. Resistance is at 1.3120, support entered 1.3050 region. The MACD histogram decreased which implied weak position for the buyers. RSI is confined in the overvalued territory near the neutral zone.

Bearish sentiment is expected to prevail. If the commodity-linked pair remained on top of the 1.3120 mark, sell order will be posted. The next possible target of the sellers is 1.3050.

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Post by AppleFXMart Mon Feb 13, 2017 7:08 am


GBP/USD Technical Analysis: February 13, 2017

The figures for the United Kingdom Industrial Production exceeded the expected results which further give a temporary support for the British currency. Nevertheless, the recovery of the greens is wide-ranging causing the GBPUSD to conduct a reversal.

The sterling preserved its neutral stance amid Asian session on Friday. The spot hovered on top of 1.2500 close to the handle.

Traders were able to surpass the region after the EU hours and continued to push the spot through 1.2450 area.

The 4-hour chart presented that the price drove 100 and 50-EMAs towards a lower point. The 50 and 200-EMAs seem neutral while the 100-day moving averages descended as seen in the aforesaid chart. Resistance touched 1.2500 mark, support lies at 1.2400.

MACD is placed in the centerline. An entry within the positive zone will provide added strength for the buyers while an attempt towards the negative territory will allow sellers to take over the market. The RSI stayed in the neutral region. Either a move lower than 1.2500 would help produce an opportunity to test 1.2400.

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Post by AppleFXMart Mon Feb 13, 2017 7:56 am


EUR/USD Technical Analysis: February 13, 2017

Non-Farm Payrolls in France came in positive but the single European currency ignored these strong data. The euro was kept intact in the pressured area on the back of the increasing political instability relative to France’s Presidential election. Moreover, the imminent vote-casting within Germany, Italy, and Netherlands brought added pressure against the EUR. Meanwhile, the US dollar demand was supported by the tax reform proposal by Trump.

The greenbacks further strengthened on Friday while the euro weakened after a clear recovery at night amid EU session.

Traders surpass the 1.0650 level and drove the price downwards during the New York trades. The EUR/USD pushed the 200-day moving averages as shown in the 4-hour chart. The 100 and 50-EMAs were bearish-neutral while 200-EMA manifested a bullish bias in the aforesaid timeframe. Resistance is seen at 1.0650 region, support touched 1.0600 handle.

MACD indicator softened implying a sell signal. RSI is confined in the oversold territory, indicating a downtrend. Another lower movement is expected, reaching the 1.0600 mark. A close below the support region is possible to provide further weakening through 1.0550.

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Post by AppleFXMart Mon Feb 13, 2017 8:03 am


GBP/USD Fundamental Analysis: February 13, 2017

The GBP/USD pair merely continued its weak trading activity following the steady surge in the value of the USD, which started last Friday and has continued up until today’s session. Since the Brexit process has already been seen to put tremendous pressure on the sterling pound, traders have been consistently advised to engage in pound selloffs once the pair progresses since the currency pair might experience a slump in the short term.

This particular forecast has been during the past few weeks, where the GBP/USD pair has been relentlessly attempting to push through its upper barrier as a reaction to a string of positive economic data from the UK as well as some minor challenges such as the SC’s ruling on the Brexit process, and Theresa May’s release of her guidelines with regards to the Brexit process. These clarifications has helped increase the value of the sterling pound but dissipated almost immediately as Brexit concerns re-surged, and now we have the dollar strength which has put downward pressure on the GBP/USD pair and has caused the pair to trade below 1.2500 points. Since the dollar strength is expected to continue for the rest of the week, the currency pair might possibly drop further to 1.2400 in the short term and could even reach 1.2300 depending on how the dollar’s activity pans out.

There are no major news releases coming from both the UK and the US for today and this is why the market is generally expecting the recent dollar trend to continue. The GBP/USD pair would most likely trade weakly but in a higher range unless the pair manages to go cleanly through 1.2700 points.

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Post by AppleFXMart Mon Feb 13, 2017 8:23 am


EUR/USD Fundamental Analysis: February 13, 2017

The EUR/USD pair has been subject to a lot of pressure ever since the trading session last Friday up to today due to the US dollar regaining its strength and exhibiting this newfound strength across the board. This positive value of the USD is expected to continue for the rest of this week and the market is quite interested on how the currency pair will be coping with this recent surge in the US dollar’s value. Presently, the EUR/USD pair has been holding its own on the 1.0600 trading region and the bears have been making repeated attempts to break through this barrier but to no avail. However, the increase in the value of the USD has not direly affected the value of other major currencies but has been slowly but surely increasing and if this particular trend continues then the support barrier might be broken soon enough.

The dollar strength has been largely attributed to Trump’s statements that his administration will soon be implementing tax cuts for both corporations and citizens, which has been a cause for celebration within the market and has returned the Trump trade. The Fed is also hinting at increasing the frequency of the interest rate hikes this year by up to three times, and Yellen’s speech due tomorrow is expected to remain bullish on both the economic situation and the interest rate hikes.

There are no major economic data scheduled to be released for today from both the US and the European Union, so this means that the current trends would most likely to continue today, with the EUR/USD remaining under pressure for the rest of today’s session.

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Post by AppleFXMart Mon Feb 13, 2017 8:59 am


USD/JPY Fundamental Analysis: February 13, 2017

The USD/JPY pair increased in value due to a surge in the demand for high-risk assets during the trading session last Friday, however the currency pair eventually dropped in value as a result of a profit-taking phenomenon prior to the meeting between Japanese PM Shinzo Abe and US President Donald Trump. The USD/JPY pair closed down the previous session at 113.164 points after dropping by -0.05% or 0.062 points. Moreover, the USD rallied as a result of Trump’s recent remarks with regards to tax reforms in the US, with Trump stating that his administration’s tax plans will be announced in the coming weeks.

Looking forward to today’s trading session, the USD/JPY pair’s movement will most likely be influenced by investor sentiment, and an increase in the demand for high-risk assets would lend significant support for the currency pair. For today’s session, the market will be anticipating the release of the Preliminary GDP report for the 4th quarter of 2016, where the market is expecting the data reading to come in at 0.3%. In addition, the previous reading is also expected to be cut down at 0.3% as well. China will also be releasing its Producer and Consumer inflation data which is expected to have an impact as well on the USD/JPY pair.

There are no major news releases from the US for today, but come Tuesday investors will be reacting to quite a handful of economic data from the region such as the PPI report and Fed chair Yellen’s two-day testimony will commence along with the release of the Federal Reserve’s Monetary Policy report. This will be used by traders to look for clues with regards to the next Fed rate hike, while Wednesday will be the scheduled release of the CPI report from the US.

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Post by AppleFXMart Mon Feb 13, 2017 9:07 am


GBP/JPY Technical Analysis: February 13, 2017

The British pound against the Japanese yen rallied on Friday’s session. The price trend gives a bullish tone being tested at 142.50 level which will be balanced off when buyer pulls the price close to the 140 handle. This makes it more advantageous to go for long positions as seems to go uptrend for long-term. Consequently if the price breaks over the peak of the shooting star for the day, it is possible for the price to reach towards the 145 handle. It may not be favorable to sell this pair as British pound gives a long-term support level against the basket of currencies.

The pair is being traded with high volatility and recently the price has been reversed which is already expected as the price got lowered higher than the former. It may not advisable to go for short since the price could get even lower than 145 handle towards the 148.50 level. The buyers may dominate the market as the price continues to go deep. The Japanese yen has sold off against other currencies. There are potential risks in trading this pair as the pair might go higher, the same way with other currencies paired against the yen.

Overall, the pair gives a choppy sentiment with possibilities of big moves going in one direction as the market gives an impulsive reaction. It seems that the market wanted to reach higher but it remains in consolidation as the market is still trying to gain enough momentum to make a bigger move. However, if the price breaks down lower than the 130.50 level is not a good sign.

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Post by AppleFXMart Mon Feb 13, 2017 9:12 am


NZD/USD Technical Analysis: February 13, 2017

The New Zealand dollar against the U.S. dollar declined during Friday’s trading session but was able to recover. After the decline on Thursday session, it is not unexpected that the buyers will try to reach the price towards the 0.72 level. If the price breaks higher than the high point of the candle pattern, it is possible for the market to extend up to the 0.7350 mark for the second time. The market is seen to have a bullish tone for some time that makes the pullback attractive and beneficial of the price to traders. It may not be propitious to sell this pair for now.

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Post by AppleFXMart Mon Feb 13, 2017 9:14 am


EUR/GBP Technical Analysis: February 13, 2017

The Euro against the British pound swung within its range during the day with candle pattern formed giving a negative tint. A significant support was found at 0.85 level but sellers are trying to move the price. The price could further go down when the price breaks lower than the 0.8450 level. However, if the price breaks higher than the range that was seen during Friday’s trading session, the market could reach the former levels. Overall, there will a rough trading in the market.

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Post by AppleFXMart Mon Feb 13, 2017 12:14 pm



February 13, 2017


Finance Minister Counters the Accusation Against ECB

The European Central has been accused of altering the Euro exchange rate and this is being negated by the French Finance Minister Michel Sapin. They are believed to have a goal in completing trading and attain the competitive policy goals by a significant U.S. authority saying that Germany gains an advantage over grossly undervalued Euro for personal gains.


Europe should still work harder to achieve former status prior to global financial crisis according to Sapin. Germany has to be more committed to restore into a better condition regarding its investments. At the same time, they are hopeful that the new president of the United States will recognize the significance of the European Union relationship with the United States.

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Post by AppleFXMart Mon Feb 13, 2017 12:23 pm


February 13, 2017

Copper, Equities Rally as JPY Slumps


Asian stocks rallied across the globe as investors anticipated the release of data which will provide insights on the state of US consumer prices, as well as comments from certain Fed officials. Meanwhile, the Japanese yen dropped in value on Monday as a reaction to the surge in the value of the S&P 500 index last Friday. Chinese shares on the Hong Kong trading floor also recorded its highest winning streak in almost two months, while commodity producers received support from an increase in the value of both iron ore and copper.

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Post by AppleFXMart Mon Feb 13, 2017 12:26 pm


Steinmeier is Germany’s Next President

The newly-elected president of Germany is Frank-Walter Steinmeier, he’s known to be the country’s foreign minister and now the 12th leader to serve the federal parliamentary republic. The 61-year old politician got 931 valid votes out of 1239 from the delegates of 16 different Germany’s states. There were 103 number of declines and 14 invalid votes.

Norbert Lammert, Bundestag president, proclaimed the final results which made the representatives respond a standing ovation excluding some members of the democratic party, Alternative for Germany (AfD). The AfD candidate got 42 votes only.

Leader of Christian Democratic Union and Chancellor, Angela Merkel said that she trust Steinmeier as he lead the nation during period of hardships and difficulties.

Moreover, Russian President Vladimir Putin sent his congratulatory message to Steinmeier via telegram and further ask to take a Moscow visit. Wh

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Post by AppleFXMart Mon Feb 13, 2017 12:31 pm


Steinmeier is Germany’s Next President

The newly-elected president of Germany is Frank-Walter Steinmeier, he’s known to be the country’s foreign minister and now the 12th leader to serve the federal parliamentary republic. The 61-year old politician got 931 valid votes out of 1239 from the delegates of 16 different Germany’s states. There were 103 number of declines and 14 invalid votes.

Norbert Lammert, Bundestag president, proclaimed the final results which made the representatives respond a standing ovation excluding some members of the democratic party, Alternative for Germany (AfD). The AfD candidate got 42 votes only.

Leader of Christian Democratic Union and Chancellor, Angela Merkel said that she trust Steinmeier as he lead the nation during period of hardships and difficulties.

Moreover, Russian President Vladimir Putin sent his congratulatory message to Steinmeier via telegram and further ask to take a Moscow visit. Wh

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Post by AppleFXMart Tue Feb 14, 2017 7:17 am


EUR/USD Fundamental Analysis: February 14, 2017

The strength of the USD is now felt more than ever in the market, and this has caused other major currencies to experience the negative effects of the surge in the dollar’s value. For the EUR/USD pair, the currency pair has dropped to 1.0600 points and was only able to prevent itself from further decreasing due to its support barrier of 1.0580 points. However, the pair’s price activity looks very dismal and it is uncertain how long the bulls would be able to keep its hold on the pair before the bears manage to seize control and push the pair further downward. If this happens, then this could spell disaster for the euro.

The market is now able to fully adjust to Trump’s policies after an initial unrest caused by his team’s adjustments to certain regulations, with the market now sure of the administration’s approach with regards to policies, thereby improving investor confidence in the US dollar. This has helped to shift the market’s focus from the Fed’s future moves and Trump’s future implementations as well, and this has further helped to support the USD especially now that the Federal Reserve is keen on sticking to its statement that there will be a total of three interest rate hikes for this year.

The US will be releasing its PPI data today, and Fed chair Yellen will be making statements with regards to the central bank’s monetary policies during today’s speech in the New York session. The market will be monitoring Yellen’s speech later today and if Yellen becomes consistently bullish in her remarks, then the euro could be in for more price drops.

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Post by AppleFXMart Tue Feb 14, 2017 7:34 am



GBP/USD Fundamental Analysis: February 14, 2017

The GBP/USD pair exhibited a tight trading activity during yesterday’s session as the USD’s value surge was felt across the market. However, this activity somewhat failed to make a dent in the value of the sterling pound. A lot of analysts have been saying during the past few days that the GBP is practically the only currency which has resisted the negative effects of the dollar strength in spite of the fact that it continues to be weak as a result of the Brexit process. This is because UK government officials have been working very hard to make the Brexit process clear for everyone, and any kind of certainty is very much welcomed by market traders and investors.

Another reason for the GBP/USD’s resistance against the strength of the dollar is the continuously positive string of economic data coming from UK which is an indicator that the country’s economy has not yet been affected by the repercussions of the Brexit process. This could also mean that both the UK economy and the sterling pound might even become better and stronger in the long term even when it finally relieves itself from the European Union. These speculations was able to maintain the GBP/USD pair’s position at 500 pips, with more ranging and consolidation expected to continue in the near future in spite of the dollar strength.

UK will be releasing its CPI data today and this will be closely monitored by the market whether this will come out as positive and affirm the country’s strong economic status. US will also be releasing its PPI data today and Yellen will be making a statement with regards to the monetary policy of the Federal Reserve, including economic status and interest rate hikes.

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Post by AppleFXMart Tue Feb 14, 2017 8:03 am


USD/CAD Fundamental Analysis: February 14, 2017

A lot of analysts have been saying that it is highly likely that the USD/CAD pair will be subject to an increased amount of pressure as oil prices continue to stay afloat and the economic data coming from the Canadian region continues to be consistently positive, a signal that the country’s economy gets better everyday. The currency pair is expected to remain under pressure as long as the US dollar remains under control, and this also means that the pair’s bulls would need to consistently strive to maintain the support barrier at 1.3000 points. This activity has been seen during the past trading session as the pair was able to surpass the 1.3100 barrier and is now currently going towards 1.3050 points.

The USD/CAD bears were also helped by the fact that Trump and Trudeau’s meeting yesterday was quite cordial, with Trump clarifying that the shifts he will be making on trade agreements will not have that much of an effect towards Canada. This helped to support the Canadian dollar which tried to surpass the dollar strength but eventually failed as the USD consistently surged in value.

There are no major news releases coming from Canada to day but the US will be releasing its PPI data and Yellen will be making comments on the central bank’s future monetary policy as well as the current state of the US economy. If her comments come out as bullish, then the USD/CAD pair might move towards and could even surpass 1.3100 points.

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Post by AppleFXMart Wed Feb 15, 2017 9:11 am


USD/JPY Fundamental Analysis: February 15, 2017

The USD/JPY pair surged in value on Tuesday as the demand for high-risk assets further increased among investors. The USD also became more attractive for investors as a result of an increase in Treasury yields. The USD/JPY pair finished off the last trading session at 114.249 points after increasing by 0.44% or 0.506 points. This increase in Treasury yields was further supported by Yellen’s remarks, after the Fed chair stated that it would be impractical to hold off the impending interest rate hikes by the central bank, especially in the face of burgeoning economic growth and inflation rates.

Today’s session is expected to be mostly driven by investor sentiments, with high demand for risky assets becoming the likely catalyst. Yellen will also be releasing a statement in Congress today, and the Fed chair is expected to offer more clarifications with regards to the guidelines and further details with regards to the Fed rate hike, with investors putting a 22% probability of an interest rate hike this coming March. The US will also be releasing a number of economic data today, such as the retail sales report and consumer inflation data. Accompanying these major reports are the Empire State Manufacturing Index, Capacity Utilization data, and Industrial Production data.

Yellen’s statement today is expected to inject additional volatility into the currency pair, and if her comments come out as hawkish, then this could cause the USD/JPY pair to further increase in value. If Yellen refuses to confirm market speculations of a rate hike in March, then this could be used by investors to book their own profits.

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Post by AppleFXMart Fri Feb 17, 2017 2:50 am


February 16, 2017

BoE Proposed Revisions for Interbank Lending Benchmark Rate

The Bank of England re-evaluated its proposal to revise the lending rate benchmark for interbank exchange to prevent manipulation of reference point for financial contracts. Also, they intend to put on hold the changes between March and April next year, instead for this year.

In particular, they will change the procedure and apply the “trimmed mean” approach for calculating the Sterling Overnight Index Average (SONIA) which is used alternatively for some contracts with the global London Interbank Offered Rate (LIBOR). An estimated total of $450 trillion contracts were affected by the market scandal which BoE takes responsibility.

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Post by AppleFXMart Fri Feb 17, 2017 3:00 am


February 16, 2017

Kazakhstan Mulls Over $6.5 bln to Support Banks

Kazakhstan intends to provide 2.1 trillion-tenge ($6.5 billion) worth of government budget in strengthening the bank's condition covering the expenditures for the budget deficit and concerns about oil wealth fund. The Minister of Finance Bakhyt Sultanov presented this proposal to the Cabinet last Monday. Based on the report from Bloomberg, Timur Suleimenov the National Economy Minister mentioned that the administration intends to execute a major transfer for the national oil fund amounting to 1.5 trillion tenge ($4.6 billion) with a similar allocation to the deficit.

The biggest landlocked state considers backing the Kazkommertsbank which is the country’s largest asset lender. The private bank struggled due to severe debts upon the duplicated defaults within the BTA Bank in 2014. The same year when the crude prices stalled and further weighed to tenge, weakening the Kazakh economy. The central bank has amplified emergency loans approximately by 400 billion tenge last February 9 and half of the said amount were pinned to Kazkommertsbank.

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Post by AppleFXMart Fri Feb 17, 2017 3:08 am


February 16, 2017

USD Rallies after Hawkish Statements from Fed

The US dollar was able to reverse its losses and reach its highest value for this month as Fed Chair Janet Yellen’s comments came out to be very hawkish. The Fed chair stated yesterday that the timing is right for the central bank to implement another rate hike in the coming months, and that it would be impractical to hold off this particular event any longer. This increased the probability of a rate hike this March, and lent support for the USD’s value which has been gaining momentum during the past week.

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Post by AppleFXMart Fri Feb 17, 2017 8:29 am

USD/CAD Fundamental Analysis: February 17, 2017

   The USD/CAD pair merely continued its current trend of ranging and consolidation as the currency pair waits for a definite direction to appear in the market. A recurring dollar strength has caused the currency pair to experience slight bounces and subsequent drops led to recurring drops in the currency pair as well, but the currency pair still has no definite path as the bulls and bears both have no catalyst whatsoever which could propel them to take hold of the USD/CAD pair.

   The US released a slew of positive economic data yesterday but this was still not enough to induce significant movement in the USD/CAD pair. The pair continues to fail to surpass 1.3100 points and simply reverted back to 1.0360 points. There seems to be no major movement for the pair anytime soon, especially since analysts have been constantly saying that the pair would only experience a major trend change if it manages to break through its support barrier of 1.3000 points. The bulls have been trying to increase the pair’s momentum but has failed miserably due to the dollar weakness, thereby causing the pair to merely range and consolidate.

   There are no major news releases coming from both US and Canada today and since the US market will be on a holiday this coming Monday, the pair would most likely continue its current trend.

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Post by AppleFXMart Fri Feb 17, 2017 8:29 am



GBP/USD Fundamental Analysis: February 17, 2017

The sterling pound has consistently been taking advantage of the dollar weakness during these past two days and was able to revert all of its losses during the start of the week. The GBP/USD pair is currently within a very large range and might continue its activity of repeatedly correcting and reverting in the short term. As of the moment, the currency pair has reverted but it is highly possible that a major selloff might occur soon, which will then send the currency pair back into the lower rung of its trading range.

The USD was unable to increase its value in spite of a slew of positive economic data coming from the region, including the latest manufacturing index data. In Trump’s latest speech, he failed to discuss his administration’s fiscal and economic policies, but this has done nothing to support the dollar. Even the recent comments from the Fed also failed to revitalize the dollar slump, and this has boded well for the GBP/USD pair, which immediately capitalized on the dollar weakness and has propelled the pair into becoming the strongest currency pair amidst the USD slump.

UK will be releasing its retail sales data today, and this is also expected to come in at a strong note which will lend further support to the sterling pound, and will continue the string of positive economic data coming from the UK in spite of the ongoing Brexit process.

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