13Sep
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IForex Market Trading Signals and News – 13 September 2016

INTERNATIONAL CURRENCY BUZZ

  • Forex – Yen stronger in Asia as data supports, Fed rate views uncertain.
  • Forex – USD/CAD hits more than 1-week highs on dropping oil prices.
  • Forex – Global Stocks sell off bolsters yen, dollar supported by Fed rate hike.

EUR/USD

The dollar little changed against the other major currencies in quiet trade on Monday, as comments by a Federal Reserve official sparked fresh speculation over a potential rate hike in the near future. EUR/USD slipped 0.12% to 1.1222. The dollar found support late Friday after Boston Fed President Eric Rosengren said that low interest rates are increasing the chance of overheating the U.S. Economy. He added that gradually tightening monetary policy is appropriate to maintaining full employment. Market participants were looking ahead to a speech from FOMC voting member Lael Brainard due later on Monday for further hints on a potential interest rate increase.Meanwhile, the single currency remained mildly supported after the European Central Bank held back from adding additional stimulus measures last week and left interest rates on hold.

GBP/USD

The dollar held steady against the other major currencies on Monday, as comments by a Federal Reserve official sparked fresh speculation over a potential rate hike in the near future. The dollar gained some strength late Friday after Boston Fed President Eric Rosengren said that low interest rates are increasing the chance of overheating the U.S. economy.He added that gradually tightening monetary policy is appropriate to maintaining full employment.Market participants were looking ahead to a speech from FOMC voting member Lael Brainard due later on Monday for further hints on a potential interest rate increase.Meanwhile, the single currency remained mildly supported after the European Central Bank held back from adding additional stimulus measures last week and left interest rates on hold.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.3290 TGT 1.3270 1.3240 SL 1.3320.
  • SELL GBP/USD BELOW 1.3235 TGT 1.3215 1.3185 SL 1.3265.

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