December 2015 Blog Posts (37)

GBP/USD: pair trades flat





Current trend



On Wednesday, the GBP/USD pair ended the trading day at the opening level of 1.4815.



Trading volumes remain low today, but the volatility might increase during the publication of ECB Monetary Policy Meeting Accounts and a series of indicators from the US. Tomorrow, financial markets are closed, and trading will resume on Monday, 4 January.





Support and resistance



The GBP/USD pair is trading within a narrow… Continue

Added by AlexanderLF on December 31, 2015 at 1:42pm — No Comments

GBP/USD: general analysis



 



Current trend




Nationwide Housing Prices data has been released today in the UK. Despite the indicator came in at 4.5% in annual terms, the GBP/USD pair fell to its April lows. At present, a correction might start – the price has turned up and is trading in the area of 1.4823.



Not much macroeconomic data is released ahead of the New Year holidays. Today, attention needs to be paid to Pending Home Sales statistics, due in the US. Analysts forecast… Continue

Added by AlexanderLF on December 30, 2015 at 7:20pm — No Comments

XAU/USD: pair remains within range



 



Current trend




On Monday, the price of gold declined by 0.7% to $1068 per ounce.



US Fed aims at gradual tightening of monetary policy. As long as the US Dollar will be strengthening, the price of gold is likely to remain under pressure. Borrowing costs for purchase and storage of gold tend to increase.



From 3:30 to 8:00 pm (GMT+2) attention needs to be paid to US news releases, among which Consumer Confidence data for December. The… Continue

Added by AlexanderLF on December 29, 2015 at 4:52pm — No Comments

XAG/USD: general review



 



Current trend




Yesterday the pair fell and lost about 50 points.



Market volatility is expected to be low today. Attention needs to be paid to data on the S&P/Case-Shiller Home Price Indices in the US. According to forecasts, the index will fall that might pressure the USD. Also, pay attention to data on Consumer Confidence that is expected to grow by 3.4%.



 



Support and resistance




On the 4-hour chart, the… Continue

Added by AlexanderLF on December 29, 2015 at 1:49pm — No Comments

AUD/USD: pair strengthened



 



Current trend



Last week the pair strengthened by 100 points amid some weakening in the USD.



Tomorrow data on the Producer Price Index for the fourth quarter is due in Australia. Considering strong decline in oil prices during the last quarter that dragged down all commodities’ prices, the index is unlikely to show a growth. Thus, an absence of inflation growth could force the RBA to ease monetary policy further. At the same time, amid gradual… Continue

Added by AlexanderLF on December 28, 2015 at 4:58pm — No Comments

XAG/USD: pair corrected



 



Current trend



Last week the pair slightly strengthened amid closing of short positions by traders prior to Christmas holidays.



In addition, gold and silver prices were supported by growing oil prices that managed to strengthen after the publication of oil reserves data in the US. The data showed that reserves fell by 5.88 million barrels, while experts predicted a 1.5 million barrels growth.



At the same time, the market attention shifts… Continue

Added by AlexanderLF on December 28, 2015 at 1:34pm — No Comments

XAG/USD: pair corrected



 



Current trend



Last week the pair slightly strengthened amid closing of short positions by traders prior to Christmas holidays.



In addition, gold and silver prices were supported by growing oil prices that managed to strengthen after the publication of oil reserves data in the US. The data showed that reserves fell by 5.88 million barrels, while experts predicted a 1.5 million barrels growth.



At the same time, the market attention shifts… Continue

Added by AlexanderLF on December 28, 2015 at 12:50pm — No Comments

USD/JPY: general analysis



 



Current trend



The Japanese Yen continues strengthening against the US Dollar amid the publication of BoJ economic report.



Initial Jobless Claims statistics are due today in the US. Analysts expect the indicator to be down by 1K to 270K. Such dynamics suggests strong labor market conditions and might support the US Dollar.



Tomorrow, attention needs to be paid to Japan’s Unemployment Rate which is expected to increase by 0.1% to 3.2%.… Continue

Added by AlexanderLF on December 24, 2015 at 4:36pm — No Comments

AUD/USD: growth in oil prices supported AUD



 



Current trend




Yesterday, after the Energy Information Administration reported a fall in US crude inventories, the price of oil grew by 3.8%.



Since opening of the trading day, the AUD/USD pair has been strengthening amid a growth in commodity prices. The Australian Dollar gained support as Australia is a large exporter of commodities.



However, in the medium term, the pair tends to continue declining due to different approaches to… Continue

Added by AlexanderLF on December 24, 2015 at 4:03pm — No Comments

USD/JPY: pair declined



 



Current trend




Last week, the Japanese Yen gained support when the Bank of Japan decided to keep monetary policy unchanged. BoJ Governor gave a generally favorable outlook of the country’s economy.



At present, the USD/ JPY pair still tends to continue declining.



However, Japan is undergoing a period of a weak growth in Industrial Production, Services PMI and a decline in exports. Moreover, inflation will remain low in the medium term.… Continue

Added by AlexanderLF on December 23, 2015 at 3:56pm — No Comments

XAU/USD: general analysis



 



Current trend




After a strong growth at the beginning of the week, the price of gold declined and was ranging between 1080.68 and 1071.79 on Tuesday. At present, the price remains in the area of 1073.85 and might start correcting up to this week high 1081.60.



Durable Goods Orders statistics for November are due today in the US. This data is an important indicator for the market; its growth has a positive effect on the economy. However, analysts… Continue

Added by AlexanderLF on December 23, 2015 at 1:55pm — No Comments

XAG/USD: growth impulse getting weak



Current trend



Yesterday, Atlanta Fed President Dennis Lockhart said a hike in US interest rates is seen as a start of a new period in US economic growth. US economy has a solid momentum going into 2016. He also noted the Fed might continue increasing rates not at every meeting but every other meeting. Therefore, the US Dollar tends to strengthen while the price of precious metals will remain under pressure.



However, due to geopolitical tensions and global… Continue

Added by AlexanderLF on December 22, 2015 at 5:06pm — No Comments

EUR/USD: general analysis











Current trend



The single European currency is trading slightly up against the US Dollar. At present, the pair remains within the range of 1.0910-1.0930. Analysts suggest the USD will continue strengthening as the Fed has started tightening US monetary policy. ECB, in its turn, tends to expand monetary stimulus to boost the EU economy.



GDP data for the third quarter is due today in the US. If the indicator comes in above the… Continue

Added by AlexanderLF on December 22, 2015 at 2:38pm — No Comments

GBP/USD: important statistics



 



Current trend



Important data on the UK economy is expected during the week.



Tomorrow data on the Current Account is due. According to forecasts, in November the budget deficit increased by about 4.7 billion Pounds. On Wednesday, data on the third quarter GDP is out. The figure is expected to remain at 0.5%, unchanged from the previous quarter. At the same time, latest data on consumer inflation showed a near-zero growth, while producer price… Continue

Added by AlexanderLF on December 21, 2015 at 6:01pm — No Comments

XAU

/USD: general analysis







Current trend




On Thursday, the XAU/USD pair was falling, being under pressure from the Fed’s decision to increase the interest rate to 0.5 percent from 0.25 percent. Having lost more than 2500 points, the price for gold was moving down towards its year lows, reached at the beginning of December. At present, the price has started correcting up in the area of 1054.35.







Support and…
Continue

Added by AlexanderLF on December 18, 2015 at 3:44pm — No Comments

AUD/USD: in contracting triangle







Current trend



Yesterday, the Federal Reserve raised US interest rates. This decision confirms the Fed is confident that US economic recovery is sustainable and suggests the Regulator has a favorable outlook for the global economy.



RBA, in its turn, is likely to keep loose monetary policy due to weak inflation. Moreover, the Australian Dollar is under pressure from a continuous fall in commodity prices, in iron ore price in particular, as Australia… Continue

Added by AlexanderLF on December 17, 2015 at 4:21pm — No Comments

EUR/USD: waiting for Fed meeting



Current trend



Yesterday the pair fell and lost about 150 points, which was the result of a publication of strong data in the US. The Consumer Price Index grew to 0.5% that was 0.1% higher than forecasts. Today attention of traders is focused on the Fed meeting where the regulator could increase its key interest rates for the first time since 2006. Usually, a rate increase significantly supports the national currency.



The Fed Interest Rate Decision is due at 9… Continue

Added by AlexanderLF on December 16, 2015 at 6:24pm — No Comments

GBP/USD: general analysis



Current trend



Yesterday, the British Pound declined against the US Dollar. The pair was under pressure amid the publication of favorable statistics on Redbook index which grew by 1.5% from the previous 1.9%. Consumer Price Index was up by 0.5% that is 0.1% above the forecast.



Today, attention needs to be paid to Unemployment Rate and Average Earnings data, released in the UK. Unemployment Rate is expected to remain unchanged at 5.3%.



However, the… Continue

Added by AlexanderLF on December 16, 2015 at 4:34pm — No Comments

USD/JPY: pair returned to growth



 



Current trend



Yesterday the USD/JPY pair significantly strengthened. Trading in the pair was very volatile due to a large number of macroeconomic publications that was coming out and approaching US Fed meeting at which, as expected, the regulator will increase its key interest rate.



The pair was supported by strong data on consumer inflation in the US. The Consumer Price Index for November grew from 0.2% to 0.5% that was better than economists… Continue

Added by AlexanderLF on December 16, 2015 at 2:19pm — No Comments

USD/CAD: review and forecast



Current trend



On Monday, the USD/CAD pair hit its highest levels in more than 11 years. The demand for the US Dollar is strong ahead of the Fed meeting. The Canadian Dollar, in its turn, is under enormous pressure from falling oil prices.



Most investors expect a hike in US interest rate by 0.25 basis points. It is the tone of Fed’s Chair Janet Yellen’s comments that still raises doubts. If she points to a slow-paced series of rate increases, the USD will… Continue

Added by AlexanderLF on December 15, 2015 at 4:51pm — No Comments

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