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Thread: Daily Market Analysis from ForexMart

  1. #191

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    GBP/USD Fundamental Analysis: January 10, 2017

    The sterling pound continued its weak trading activity during yesterday’s session as the fears and confusion surrounding the Brexit process as well as other such concerns continue to weigh down on the GBP, a trend which has been going on for the past weeks. The GBP/USD pair was unable to increase in value in spite of the marked dollar weakness during the previous trading session. Market analysts are speculating that the currency pair is currently locked within a highly bearish stance and could possibly incur more losses in the coming days.

    Stock prices fell yesterday due to uncertainties surrounding the current position of commodity prices, particularly crude oil prices, as well as Brexit-related concerns. A lot of traders and investors are saying that the market might be well-headed for a hard Brexit, which means that the negotiations between UK leaders and EU officials might prove to be much harder than expected, and also implies that the UK might be unable to obtain free market zone access to the rest of the European Union once they formally leave the eurozone. In addition, Scotland seems to be taking measures to leave the UK in protest to Brexit, which means that the sterling pound is more likely to decrease further in value.

    For today’s session, the current market trends are expected to continue since there are no scheduled releases from the UK and the US. The sterling pound is still expected to fail to bounce back from its recent low levels due to the various negative economic factors which continue to affect the state of the pound.
    Andrea ForexMart, Official Representative


  2. #192

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    EUR/USD Fundamental Analysis: January 10, 2017

    The EUR/USD pair exhibited bullish stances during yesterday’s trading session. The US has recently released its average wages data as well as its employment reports data, both of which turned out to be highly satisfactory particularly for investors. This set of data has then set the tone for the market’s movements this week. The USD has increased significantly in value as opposed to the EUR, but the EUR/USD pair was able to counter this movement and instead consolidated during the Tokyo and European trading sessions. The currency pair was able to break through 1.0580 from 1.0520 during the North American session before finally settling just below 1.0600 points.

    The USD received little support from comments from Fed officials yesterday, which turned out to be hawkish. The currency pair is now back to trading near its weekly highs last week, a crucial position for both the USD and the EUR. The dollar will most likely be able to regain its strength if the EUR/USD experiences a breakdown. However, if the EUR is able to go beyond 1.0600 and possibly reach 1.0650 points, then the euro could increase in value, thereby putting the US dollar in negative territory. A number of large-scale banks and hedge funds are expecting the USD to regain its strength anytime soon since the fundamentals are all pointing towards a higher value for the USD. However, the dollar bulls must be able to obtain the right timing in order for the USD to strengthen further.

    Today’s trading session is most likely to be dominated by the recent market trends as there are no major news releases expected from both the US and the European Union. The pricing of the USD is closely monitored by the market since this could be a catalyst on whether the stock market will be pushing through their bullish direction or consolidate instead.
    Andrea ForexMart, Official Representative


  3. #193

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    USD/CAD Fundamental Analysis: January 11, 2017

    Just like the majority of other currency pairs, the USD/CAD pair had ranged and consolidated all throughout the rest of the previous trading session without any definite direction. The traders and investors transacting in this particular pair seem to be uncertain with regards to its direction and is first making sure that the currency pair first takes a definitive step on its chosen direction before they do actual buying and selling with the USD/CAD pair. The general trend for the USD/CAD pair is expected to be on an upward direction, and corrections along the way should be seen as long opportunities.

    During the previous trading session, oil prices took a turn for the worse as the agreements between oil producers failed to go as smoothly as originally planned, mostly due to the lack of proper implementation from both parties. As a result, the CAD was kept from rising value as oil prices subsequently crashed in value. This is why the CAD was unable to take advantage of the recent decrease in the USDís value, and the Canadian dollar is now finding it difficult to make substantial progress in both directions,whether upward or downward.

    There are no major news coming out from both the Canadian and US economy for today. However, Trump is scheduled to address the US in a press conference later today and the market will be relying on this particular address since this will be the determinant of the general direction of the US dollar. As for the USD/CAD pair, the currency pair would most likely be affected once Trump addresses how he will be handling the international neighbors of US, with Canada being one of them.
    Andrea ForexMart, Official Representative


  4. #194

    Default GBP/USD Fundamental Analysis: January 11, 2017

    The sterling pound merely continued its previous activity of consolidation and ranging albeit with no clear direction as of the moment. The range of the GBP/USD is tightening further as we speak, and the market is expecting an explosion any time soon. However, this major eventís direction has yet to be seen but it can be assured that there is a movement by up to 300-400 pips. However, the risk for the GBP/USD pair is expected to remain in the downward direction due to the weak GBP and strong uptrend in the USD.

    However, the recent strength of the USD is expected to be tested today during Trumpís press conference since the market will be closely monitoring Trumpís approach with regards to a number of issues. If Trump decides to take the diplomatic route, then this could trigger a boost in the value of the USD, thereby putting immense pressure on the GBP/USD pair, even though the sterling pound is still currently undergoing pressure from the various confusions surrounding the Brexit process.

    The UK is set to release its manufacturing production data for todayís trading session, and this will be an indicator of whether the UK will be able to maintain its current trend of positive data releases which are not yet affected by the Brexit process. If this particular data comes out as negative, then this could increase the pressure on the sterling pound.
    Attached Images Attached Images Daily Market Analysis from ForexMart-gbpusd11-png 
    Andrea ForexMart, Official Representative


  5. #195

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    USD/CAD Fundamental Analysis: January 12, 2017

    The USD/CAD pair exhibited additional corrections during yesterday’s trading sessions as the US dollar weakened significantly following the press conference of president-elect Donald Trump. The market initially expected Trump to give hints on his proposed economic, fiscal, and monetary policies but instead disappointed market players after he merely talked about his personal interests and his business enemies. This then caused the dismal drop in the value of the dollar. The stock market was able to recover slightly towards the end of the session, but the same could not be said for the US dollar.

    As oil prices managed to regain its losses during yesterday’s session, this has proved to be good news for the Canadian dollar since this lended the CAD some much-needed support and has triggered the USD/CAD pair to reach just under 1.3200 before settling to 1.3150 points. The economic news release from Canada came out better than what the market expected, and since oil prices are now looking good, these are expected to provide susbstantial support for the CAD in the long run. The USD/CAD pair could possibly test the 1.3000 level due to the recent weakness in the USD

    For today’s session, there are no major releases from the Canadian economy but we have the unemployment claims data from the US which will be released during the North American trading session. However, the most dominant market trend today would most likely still be the effects of the recently concluded press conference, and this is why the pair is possibly up for more weakness and volatility for today.
    Andrea ForexMart, Official Representative


  6. #196

    Default GBP/USD Fundamental Analysis: January 12, 2017

    The US dollar took the spotlight yesterday as the market reacted wildly to Donald Trumpís press conference during the latter part of the New York trading session. The market was initially subdued during the London and Tokyo trading sessions since the market was generally looking forward to gauge Trumpís demeanor, as well as to decipher his administrationís plans for the next 4 years and to see whether Trump will actually be pushing through with his proposed policies during his campaign.

    However, Trump went in for a very disappointing run as he displayed his usual tactlessness and brashness and even highlighted his desire to build a Mexican border within two years. This move was wholly unexpected by the market, and this caused the USD to crash and plummet across the board. The GBP/USD pair, which has been languishing in the bottom rungs of the market for the past 2 months, was able to immediately recover its losses and was able to push through 1.2200 points and even reached 1.2250 before finally settling at just under 1.2200 points.

    Since there are no major news releases expected from the UK for today, the previous market trend is expected to dominate todayís trading sessions. The bulls could possibly profit from a solid upward move from the GBP/USD pair if the pound would be able to break through 1.2300. Otherwise, the currency pair could be merely subject to short-term corrections.
    Attached Images Attached Images Daily Market Analysis from ForexMart-gbpusd12-png 
    Andrea ForexMart, Official Representative


  7. #197

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    USD/CAD Fundamental Analysis: January 16, 2017

    The USD/CAD remained to trade close on its range lows on the back of the dollarís strength recovery. While the prices of oil appeared to have an optimistic result which assisted the CAD keep in the short term.

    The pair plunge under the 1.3100 level following the extensive weakening of the dollar, however, it immediately found buying pressure which supported the pair to return on top of 1.3100.

    Over the past few months, the USDCAD showed a consistent uptrend and every correction met a prompt and strong bounce which seems to be repetitive. The way towards the 1.400 medium target suggest a slow progress and the main uptrend supported the bulls to purchase every correction.

    Recently, the pair have acquired more buyers and there are banks that started to advise their clients regarding the 1.40 target.

    The strong Canadian data with a weak economy of the country is the reason why traders are directed to maintain a hard clean break under 1.3000 which signals that an uptrend has ended.
    There are no major economic data from Canada for this day since it was a bank holiday in the United States. It is further expected for a consolidation and ranging close to the range lows today.
    Andrea ForexMart, Official Representative


  8. #198

    Default GBP/USD Fundamental Analysis: January 16, 2017

    The GBP/USD closed the week with a sluggish stance and struggled to maintain its gains. These events put on some fears against the pound bulls because this will weigh over the Cable upon the return of dollarís strength.

    The pair stayed below the 1.2200 on Friday until the weekend took place which triggered indications for a hard Brexit. This caused for the pair to create a large gap and traded shortly under 1.2000.

    The strong economic data of the UK shown for the previous months did not influenced the sterlingís value at all. However, it is deemed that the British currency is able to withstand its current situation and will accumulate gains afterwards. Looking forward, the bulls still needs to endure the worst impact as the bears tend to insurge. The hard Brexit cause risk and confusion for the investors which made them think twice prior pound purchase.

    In the last two weeks, there are news about the UK's possibility to employ hard Brexit, whereas, PM Mayís speech is highly anticipated within this week. This event brought the Britainís economy a tough time but we believe the country will become much stronger eventually.

    For today, we expect no new UK economic release and losses is further expected with a fundamental near-term target of 1.17.
    Attached Images Attached Images Daily Market Analysis from ForexMart-gbpusd16-png 
    Andrea ForexMart, Official Representative


  9. #199

    Default EUR/USD Fundamental Analysis: January 17, 2017

    The EUR/USD pair traded weakly during the previous trading session with the weak euro having more effect on the currency pair than the recent dollar weakness. The international economy is now very concerned with UKís hard Brexit process, since this could spell disaster not only for UK but also for countries within the eurozone. Although the hard Brexit could have less negative effects for the UK, this could instead affect EU countries since most of them are doing business with UK, and the removal of a free trade zone with UK and the rest of the EU could become very disastrous for a lot of EU countries.

    This was one of the reasons why the EUR/USD pair corrected largely during yesterdayís session and plummeted down to 1.0600 points yesterday and even went lower for some time. The currency pair could have experienced much larger corrections if not for the US bank holiday yesterday.

    For todayís trading session, there are no important economic data coming from the eurozone but Theresa May will be speaking during the New York session with regards to the guidelines of the expected hard Brexit. Mayís speech could have a negative effect on the value of the euro and traders are expected to take extra caution when it comes to trading with this particular currency pair.
    Attached Images Attached Images Daily Market Analysis from ForexMart-eurusd17-png 
    Andrea ForexMart, Official Representative


  10. #200

    Default GBP/USD Fundamental Analysis: January 18, 2017

    The GBP/USD pair exhibited heightened volatility during the previous trading session as the dollar lost strength and the sterling pound regained much of its footing in the market. Theresa Mayís speech yesterday helped in clearing up some of the murkier parts of the Brexit process, and this has helped in placating various investors and has minimized concerns surrounding the Brexit process, thereby increasing the value of the sterling pound. This has then prompted investors to pull out their funds from the USD, thereby causing the dollar to drop in value.

    Theresa May has highlighted in her speech yesterday that the UK will indeed be going for a hard Brexit and will be eliminating any kind of access from the eurozone. However, the PM has reiterated that the UK government will be negotiating with eurozone leaders in order to have a different kind of trade relations with the European bloc. Since this has eliminated confusions surrounding Brexit matters, thereby increasing the pairís volatility levels. The GBP/USD pair initially dipped to 1.2015 points prior to Theresa Mayís speech but quickly climbed up to a daily high of 1.2414 points.

    However, there are still a handful of concerns surrounding the Brexit process, and the expected invocation of Article 50 is also seen as a possibly risk for the stance of the currency pair as well as the UK economy. As such, these are expected to continuously pressure the GBP in the next few days.

    For todayís session, UK will be releasing its claimant count change data as well as its average earnings data, while US will be releasing its CPI data later today. It remains to be seen whether these data sets would be continuing the string of good economic data during the past few days. If the UK data comes out as positive, then this push the pair upwards to 1.2500 points, although this might not be enough to actually push the currency pair beyond this particular barrier.
    Attached Images Attached Images Daily Market Analysis from ForexMart-eurusd17-png 
    Andrea ForexMart, Official Representative


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