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Thread: Daily Market Analysis from ForexMart

  1. #101

    Default Fundamental Analysis for GBP/USD: September 30, 2016

    The GBP/USD pair continued to sway between 1.2950 and 1.3050 with no definite direction. This indefinite stance of the GBP/USD was mainly caused by an expected break on both sides by traders but has not since occurred. However, the value of the currency seemed to be controlled by EUR/GBP cash flows than any other fundamental factors.

    The issues surrounding Deutsche Bank also added uncertainties to the GBP/USD pairís stance. Deutsche Bankís recent issues caused stock markets to have a risk-off sentiment and caused the S&P and other technical indexes to drop in value. Moreover, this has caused the pound to decrease its support levels at 1.2950 during the last trading session. Traders should take extra precautions as this might cause major shifts in the financial market and may also cause the USD to increase its value in general.

    Speculators are expecting added volatility to the market due to the London fix, as well as a major news announcement from the UK government which is scheduled to be released today.
    Attached Images Attached Images Daily Market Analysis from ForexMart-gbpusdfun30-png 
    Andrea ForexMart, Official Representative

  2. #102

    Default Fundamental Analysis for USD/CAD: September 30, 2016

    The USD/CAD pair finished last trading session with its resistance levels resting at 1.3120 points and support levels at 1.3060 points, with the currency pair merely consolidating during the rest of the trading session since there was no major event that came from Canada yesterday. However, the GDP output for Canada will be released today, and this is expected to create a significant insight with regards to the performance of the Canadian economy. Canadaís economy has been steadily weakening during the past few months, although recent data from the nation has not yet been reflecting these changes.

    However, the Bank of Canada has been hinting at this particular weakening in their economy, as well as the effect of lowering oil prices on the nationís economic output and speculators are saying that this might ultimately lead to the BOC cutting back on its interest rates.

    The USD/CAD continues to be bullish, mainly because of the current state of the Canadian economy. The USD strengthened as Deutsche Bankís issues were brought up during the US session which caused the USD to rally at 1.3180 points and is now currently at 1.3153. Support levels are at 1.3060 while resistances are within the range of 1.3200 and 1.3255 points.
    Attached Images Attached Images Daily Market Analysis from ForexMart-usdcadfun30-png 
    Andrea ForexMart, Official Representative

  3. #103

    Default Fundamental Analysis for USD/JPY: October 3, 2016

    The USD/JPY pair had a double-sided trading session on Friday after investors had split reactions to reports of an alleged settlement between the US Department of Justice and banking firm Deutsche Bank. The currency pair finished the last trading session at 101.318 points, going up by +0.29% or 0.288 points, with the USD finishing higher against the Japanese yen.

    The BoJís decision on its monetary policy is now settled, and investors are now shifting their focus on investor sentiment when it comes to the general direction of the market. Analysts are expecting this particular trend to continue up until Mondayís session especially due to lack of important economic data to be released this week and because of limited speculations prior to the release of the US Non-Farm Payrolls Report this coming Friday.

    Traders are now becoming particularly conscious with various economic events and news as they await the next announcement from Bank of Japan. The direction of the USD/JPY was influenced by the US Presidential Debate last week, the Deutsche Bank issue, and the statement released by the OPEC. For this week, speculators are expecting that the USD/JPY would most likely be influenced by the release of the US stock indices and the US jobs report which is set for the end of the week.
    Attached Images Attached Images Daily Market Analysis from ForexMart-usdjpyfund03-png 
    Andrea ForexMart, Official Representative

  4. #104

    Default Fundamental Analysis for USD/CAD: October 3, 2016

    The USD/CAD pair continued to trade within the broad range but market players are expecting the currency pair to be on the bullish side. The USD/CAD has proved to be one of the most volatile currency pairs with its 2-way movement but still in the wider trading range between 1.3050 and 1.3280. The release of the retail sales data last Friday turned out to be bad for the market, causing the CAD to decrease earlier this week. However, the bullish stance of the pair was still not able to break through the 1.3280 trading range.

    The CAD then bounced back after the release of the OPEC statement, where oil producers have agreed to cut down oil production in order to increase oil prices. The currency pair then decreased in value. But Canadaís GDP data came out way above the expectations of investors, increasing the USD/CADís value but not enough to break through the bottom range, therefore settling within the neutral territory.

    For this week, investors are awaiting the release of the Canadian employment report as well as the NFP report which is both slated to come out this Friday. Market players are expecting increased volatility once the mentioned economic data are released, together with the strengthening of the US economy due to an impending rate hike and the weakening of the Canadian economy due to the OPEC report.
    Attached Images Attached Images Daily Market Analysis from ForexMart-usdcadfund03-png 
    Andrea ForexMart, Official Representative

  5. #105

    Default Fundamental Analysis for USD/JPY: October 5, 2016

    The USD increased in relation to the Japanese yen during the last trading session, with the USD/JPY pair closing the session at 102.90 points after increasing by +1.24% or 1.265 points. The pairís current value is its highest trading level since September 15, putting pressure on the currency pair to exceed its highest level last September 14 at 103.351 points.

    The increase in the USD was mostly due to a significant increase in US Treasury yields. The positive ISM Manufacturing PMI data released on Monday triggered an upsurge in Treasury yields, increasing the possibility of an interest rate hike this coming December. Comments from Fed officials also strengthened the US dollar, after Federal Reserve President Jeffrey Lacker stated that there is a high probability that interest rates would be increased and that inflation rates would be put under control by increasing borrowing costs.

    The CME Groupís FedWatch indicator also showed that traders are seeing a 63% chance that the Federal Reserve would increase its interest rates during its meeting on December 13-14, an 11% increase from the previous reading after the last Fed meeting on September. This was also cemented by comments from the Federal Reserve Bank of Clevelandís President Loretta Mester, who called for higher interest rates from the Fed. Fed officials, however, are keeping their respective profiles low as of the moment.
    Attached Images Attached Images Daily Market Analysis from ForexMart-usdjpyfund05-png 
    Andrea ForexMart, Official Representative

  6. #106

    Default Fundamental Analysis for USD/CAD: October 5, 2016

    The recent increase in value of the USD has caused certain currency pairs like the USD/CAD to move forward with their bullish runs, a move that has long since been anticipated for the currency pair during the past week. The USD/CAD pair was able to push through its resistance levels at 1.3140 points, even going beyond 1.3170 where it was met with marginal resistance and went with support levels after a gain of 1.3140 points.

    The Canadian and US trading sessions saw the USD increase its value by a significant margin and has caused the USD/CAD to go through the 1.3200 trading range, and market players are expecting that the pair will be able to reach its short-term targets at 1.3240 and 1.3280 with relative ease in just a few days. The currency pair is now at the support level of 1.3173 but is still expected to go above its present trading range.

    Market players are now awaiting the release of the Canadian trade balance data and the ADP Non-Farm Employment data from the US. These economic data should give traders an idea of the relative strength of the two economies, as well as the possible impact of lowered oil prices on both countries. This could then lead to an increased volatility towards the end of the next trading session.
    Attached Images Attached Images Daily Market Analysis from ForexMart-usdcadfund05-png 
    Andrea ForexMart, Official Representative

  7. #107

    Default Fundamental Analysis for EUR/USD: October 5, 2016

    The EUR/USD pair had increased volatility levels and was able to break through the small-scale trading range and went through the larger-scale trading range of 1.1145 and 1.1245 points. The early part of the trading session saw the USD gaining strength after it lost a significant amount of its value last week. The euro was also able to break through its previous support levels of 1.1200 to gain new support levels of 1.1145 before going as low as 1.1137 points. The EUR/USD pair was also affected by the news that the ECB is currently studying the tapering of the QE.

    The EUR/USD went back at 1.1200 after the ECB rumors and went as far as 1.1238 before another headline was released, saying that this particular rumor with regards to the QE was not discussed in any of the ECBís meetings, prompting the currency pair to go back down at 1.1200 points.

    This highly volatile movement of the currency pair is a positive sign for traders who are currently looking for market volatility. The market is currently not expecting any major news announcements from the EU, with the US ADP Non-Farm Employment data the only announcement expected from the US market. The ADP data will act as a precursor for the NFP announcement on Friday which is expected to provide a useful insight on the current state of the US economy.
    Attached Images Attached Images Daily Market Analysis from ForexMart-eurusdfund05-png 
    Andrea ForexMart, Official Representative

  8. #108

    Default GBP/USD Fundamental Analysis: October 7, 2016

    The sterling pound continued to plummet during Thursdayís trading session, after the GBP/USD pair dropped to 1.2601, its lowest ever in 31 years. The currency pair also decreased by 400 pips or roughly 5% during the Asian trading session in just a matter of minutes. Prior to the Tokyo session, the GBP/USD pair traded with a 10-pip spread and the currencyís charts portraying lows at 1.2000 and below. However, there is no clear reason yet as to what caused the currency pair to suddenly backslide. Analysts are expecting that the currency pair would further drop in the coming sessions due to massive political and economic uncertainties, as well as deterioration of the UK economy.

    The GBP/USD was able to immediately revert back to the 1.2400 trading range. However, the technical indicators for the pair is presently erratic due to its recent activity. However, if the GBP/USD manages to maintain its risk levels below 1.2500 points then the currency pair would be able to recover even up to 1.2600. Market analysts are however warning traders that more sharp declines and sudden surges are to be expected in the upcoming trading sessions, particularly during this period that traders and investors are awaiting the release of the US Non-Farm Payrolls data in order to gauge the level by which they would resume their selling based on the stance of the pair.
    Attached Images Attached Images Daily Market Analysis from ForexMart-gbpusdfund07-png 
    Andrea ForexMart, Official Representative

  9. #109

    Default USD/CAD Fundamental Analysis: October 7, 2016

    The USD/CAD pair continued to consolidate for the duration of todayís trading session although it initially attempted to break through resistance levels at 1.3250 points following a late onset of the US dollarís strength but was immediately countered by a sudden wave of sellers, causing the pair to drop below 1.3200.

    Support levels for the pair came in at the 1.3180 trading range with resistance levels at 1.3250. These indicators are expected to maintain the USD/CADís price action for todayís session. The price action for the pair is largely dependent on economic data to be released today, such as the US non-farm payrolls data which is scheduled to be released today together with employment reports from Canada. The USD/CAD pair is then expected to have increased volatility compared with other currency pairs due to the release of these highly relevant data.

    Traders are advised to keep out of todayís session since the economic data from Canada and US are expected to come out at opposite terms, which can make it hard for traders to predict the pairís future price actions. Traders are also reminded to avoid the high volatility levels of the currency pair and wait for the increased activity to die down before going to trading on the USD/CAD.
    Attached Images Attached Images Daily Market Analysis from ForexMart-usdcadfund07-png 
    Andrea ForexMart, Official Representative

  10. #110

    Default USD/JPY Fundamental Analysis: October 10, 2016

    The JPY went higher in relation to the USD after a long losing streak in nine trading sessions after the release of a somewhat negative US Non-Farm Payrolls report disappointed investors and traders. The USD/JPY pair traded at 102.906, decreasing by -1.00% or 1.042 points.

    The US Non-Farm Payrolls report came out at 156,000, way below the expected 177,000 prediction for the NFP in September. Unemployment rates also increased by 5.0% from the previous data release of 4.9%. However, the data for the Average Hourly Earnings increased from 0.1% to 0.2%, with limited trader reactions since the data met its previous expectations.

    Investors are now speculating that the disappointment in the US payrolls report makes it impossible for a Fed rate hike in November, but is still strong enough for an interest rate hike in December. Market buyers were also compelled to book their profits due to a slight drop in US Treasury Futures data.

    The decrease in the USD/JPY came as a surprise to some investors since the economic data release, although on the negative side, is still strong enough to maintain speculations for an interest rate hike before 2016 ends. The pair is seen to further weaken since Monday is a bank holiday, and the absence of major market players could cause the pair to lose some of its current trading value.
    Attached Images Attached Images Daily Market Analysis from ForexMart-usdjpyfund10-png 
    Andrea ForexMart, Official Representative

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