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Euro: USD/EUR (EUR=X) holds 50-day SMA For the past three days, EUR/USD has found support at the 50-day simple moving average (SMA) of $1.1384, with dips below this moving average finding buyers. If this holding action continues, then a bounce back towards $1.1471, the 100-day SMA, would be one to watch. A loss...
British Pound: USD/GBP (GBP=X) Beware Return of Brexit Risks GBP/USD has been stuck fast at $1.29 for several days. A failure to break higher raises the risk of a deeper retracement. Near-term support lies at $1.2773 (close to the 50-day SMA at $1.2763 too), while a bigger dip finds support around $1.27....
Australian Dollar: USD/AUD (AUD=X) finds support The Australian dollar initially pulled back a bit during the trading session on Thursday, dipping slightly below the 50 day EMA. However, we bounced slightly, and I think this is indicative of what we are going to see, a slow and gentle grind lower. This...
UK FTSE 100 (.FTSE) traders eagerly anticipate Theresa May’s so called “Plan B” Brexit proposal The FTSE 100 struggled for direction on Thursday, while the pound continued to edge higher as currency traders eagerly anticipate Theresa May’s so called “Plan B” Brexit proposal. London’s top flight was off 27.76 points,...
Silver 1 OZ 999 NY (XAG=X) awaiting a new fundamental spark to drive market direction Gold and silver prices are slightly lower in early U.S. trading Thursday. The metals have been trading sideways in quieter fashion for several sessions, awaiting a new fundamental spark to drive market direction. While this week’s uptick in...
United States Oil (USO) Saudi Arabia’s energy minister said he was sure inventories will start to “return to normal averages and this will increase confidence” Oil steadied near $52 a barrel in New York amid signs that crude inventories fell again in the U.S., the world’s biggest consumer. Futures slipped 0.3...
$GLD,$SLV,$USD,$USO,$OIL,$SOY,$CORN,$WEAT Gold SteadyUSD FirmCrude Oil LowerStocks Mixed In Asia Notes: Spot gold is about to exit a Neutral range of $1,285-$1,299, and either rise to $1,311 or drop towards $1,268. The Federal Open Markets Committee (FOMC) will hold the next policy-setting meeting on 29-30 January. Gold: Gold has gained for 5 weeks running, but prices have been...
Australian Dollar: USD/AUD (AUD=X) Westpac Consumer Sentiment shows deterioration in sentiment The Australian Dollar took a steep fall in the Westpac Consumer Sentiment index in its stride Wednesday but selling the Antipodean currency is still a “top ten” investment idea for the 2019 year, according to analysts at DBS Bank who see the Reserve Bank...
Japanese Yen: USD/JPY (JPY=X) still very much in the consolidation phase The US dollar has gone sideways overall against the Japanese yen, showing a bit of resiliency. However, the ¥108 level underneath is massive support, so I think it is going to continue to be able to hold the market up...
Euro: USD/EUR (EUR=X) tumbles into potential wider retracement EUR/USD fell below the $1.1422 mark, seemingly paving the way for a wider retracement for the pair. The break through $1.15 last week sparked a rise in the likeliness of an upside surge after this pullback. Despite us currently having broken into a lower...