8Jun
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IForex Market Trading Signals and News – 08 June 2016

MARKET UPDATES :

  • Forex – Sterling jumps 1% as Brexit polls show ‘remain’ camp ahead
  • Forex – Dollar slides lower vs. rivals on Yellen remarks
  • Forex – Aussie and kiwi move higher after RBA holds

EUR/USD
EUR/USD is subdued on Tuesday, continuing the lack of activity which marked the Monday session. The pair is trading at 1.1370. On the release front, German Industrial Production posted a gain of 0.8%, matching the forecast. There are no major US events on the schedule, so it could be another quiet day for EUR/USD.The euro is trading quietly after a closely-watched speech by Fed Chair Janet Yellen on Monday. Speaking at the World Affairs Council in Philadelphia, Yellen said she remained optimistic about the US economy and hinted that the Fed would raise interest banks, but crucially, she gave no indication as to when that might occur.

GBP/USD
The pound rallied around 1% against the dollar on Tuesday as a number of opinion polls showed the Remain campaign with a lead over the Leave campaign ahead of the June 23 European Union referendum.GBP/USD hit highs of 1.4460 overnight and was last at 1.4588, up 1% from Monday’s close.Sterling also strengthened against the euro, with EUR/GBP down 0.98% at 0.7787.The pound was boosted after an opinion poll published in the Times newspaper late Monday showed support for remaining in the EU with a one-point lead over the ‘Leave’ campaign.\A separate poll, conducted by YouGov for the Times newspaper on Monday also showed a one-point lead for keeping Britain in the EU in the referendum.

RECOMMENDATION :

  • BUY EUR/USD ABOVE 1.1365 TGT 1.1385 1.1515 SL 1.1335
  • SELL EUR/USD BELOW 1.1355 TGT 1.1335 1.1305 SL 1.1385

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