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Thread: Daily Market Analysis from ForexMart

  1. #201

    Default USD/CAD Fundamental Analysis: January 18, 2017

    The Prime Minister of UK, Theresa May laid out few ground rules yesterday regarding the possible flow of the Brexit process. Global risks were also expected to lessen and in whatever time it might occur, it will likely weigh on the dollar.

    The greenbacks were seen to be on its weaker stance prior this event that will hit the currency much harder. This will caused for the USD/CAD to test 1.3000 over and over, there is also a sudden solid bounce upwards.

    The USD continued to suffer from the drawbacks due to the risky environment from Trumpís administration which continue to confuse traders and investors because of its vague plans.

    Moreover, the expected thrice rate increase of the Fed will likely be supported by the dollar with the medium and long term, however the near-term risk that surround the new US government causes the dollar to soften.

    Another test of lows is assumed to occur in case the Canadian data will present an optimistic result. Since the economic data from the region is relatively strong and identify whether this upbeat is from the BOC statement about rate policy or from the media conference of the BOC Governor.

    Furthermore, the BOC is scheduled to hold its rate for today, in case the statement came in hawkish, the 1.3000 level are needed to test again.
    Attached Images Attached Images Daily Market Analysis from ForexMart-usdcad18-png 
    Andrea ForexMart, Official Representative

  2. #202


    EUR/USD Fundamental Analysis: January 18, 2017

    The EUR received a much-needed boost from yesterday’s trading events, wherein the USD plummeted and weakened while the sterling pound regained its previous losses across the board. This has then caused the EUR/USD pair to break through the 1.0600 barrier after quite a time and even went up as high as 1.0700 points, where it traded momentarily before settling just below 1.0700 points.

    In spite of the fact that Theresa May has indeed announced that the UK is headed for a hard Brexit process, the concerns surrounding this particular occurrence have somewhat diminished, prompting investors to pull out from the USD and onto high-risk areas such as the stock market. The US dollar has since then weakened, and the clarity of the Brexit process has helped in pushing the euro higher. Although the hard Brexit would most probably have an adverse effect on eurozone trades, the renewed clarity of the process has helped placate investors and has created upward support for the EUR/USD pair. The currency pair is now seen to possibly reach the 1.0850 trading region.

    There are no major economic readings set to be released today from the eurozone, but the US will be releasing its Core CPI and CPI data during the New York session, and these will be closely monitored by investors since a string of good economic data could increase the chances of a Fed rate hike in the near future.
    Andrea ForexMart, Official Representative

  3. #203

    Default USD/CAD Fundamental Analysis: January 19, 2017

    The USD/CAD pair was previously situated in a very critical support region and has reverted in the region just below 1.3000 points. The Bank of Canada has already released its statement regarding the central bankís rates, and the bank also held a press conference later in the day. The pairís strong bounce was seen as the US dollar and the Canadian dollar went in highly opposite directions during the previous trading session.

    The USD had already regained its lost strength and has exhibited positive activity across the board after Yellen announced that the Fed could possibly go for more rate hikes in the future if the economic data from the US continues to be positive. On the other hand, the Bank of Canada announced that it will be making no changes on its current interest rates. However, the succeeding press conference from BoCís Poloz has made it clear to investors that the Canadian economy has not shown any progress and has instead stayed in the same place. Moreover, Poloze expressed his sentiments regarding a possible trade war under the Trump administration, and this has adversely affected the CAD and has caused the USD/CAD pair to revert back from the 1.3000 trading range and was able to shot up through 1.3100 and even through 1.3200 where it currently sits above as of present time.

    Market players are expecting that the USD/CAD pair might be in for a strong uptrend and could possibly reach 1.4000 points. For todayís trading session, Canada will be releasing its Manufacturing Sales data, while US will be releasing its oil inventory data as well as the Unemployment claims data. These are expected to induce volatility in the pair. However, it is highly likely that the USD/CAD pair will be in for an uptrend in the long run.
    Attached Images Attached Images Daily Market Analysis from ForexMart-usdcad19-png 
    Andrea ForexMart, Official Representative

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