Monthly Archives: September 2018

28Sep

TODAY’S COMEX GOLD SIGNAL AND DAILY TECHNICAL REPORT

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

INTERNATIONAL COMEX NEWS

  • Gold prices dipped below the psychologically important $1,200 level on Thursday, finding little support after the Federal Reserve raised interest rates and indicated that it remains on track to continue monetary tightening into next year. The Fed raised interest rates by a quarter point to 2.25% on Wednesday, its third rate hike this year and its eighth since 2015. In its statement, the Fed said it still foresees another rate hike in December followed by three more in 2019, and one additional increase in 2020.
  • Saudi Arabia will quietly add extra oil to the market over the next couple of months to offset a drop in Iranian production but is worried it might need to limit output next year to balance global supply and demand as the United States pumps more crude. The kingdom, OPEC’s top producer, came under renewed pressure last week from U.S. President Donald Trump to cool oil prices ahead of a meeting in Algiers between a number of OPEC ministers and allies including Russia.
  • Oil prices were hovering near the $82 a barrel level on Thursday, close to the four year highs reached earlier in the week amid fears of a supply shortage as the U.S. prepares to re-impose sanctions on Iran from Nov. 4. London traded Brent crude futures were up 0.71% to $81.36 a barrel from their last close by 07:51 AM ET (11:51 AM GMT), holding below the high of $82.55 reached Tuesday, the most since November 2014.

COMEX GOLD SIGNAL

ECONOMY NEWS

  • Canada’s Prime Minister Justin Trudeau on Thursday dismissed U.S. President Donald Trump’s criticism of the slow pace of talks to modernize the North American Free Trade Agreement, saying Canadians were tough negotiators. Trudeau spoke a day after Trump blasted Canada’s negotiating position, said he had rejected the Canadian leader’s request for a one-on-one meeting and threatened to impose tariffs on cars imported from Canada.
  • EU officials were waiting anxiously on Thursday for the eurosceptic Italian government’s decisions on its deficit targets for next year, which could challenge the bloc’s fiscal rules and further rattle markets. Fearing that public statements from Brussels could inflame the eurosceptic wave in Italy, they have largely preferred to maintain silence, but informally admit “concerns” for its economy and the risk of spillovers into other euro zone countries.
  • Financial policymakers need more tools and data to regulate investment funds and other so-called “shadow banks” after a boom in the industry, European Central Bank President Mario Draghi said on Thursday. “The growth in importance of the non-bank financial sector requires commensurate additions to the policy toolkit,” Mario Draghi told an event at the ECB. “Policymakers also need access to – and the ability to process and understand – high-quality data to underpin their decisions.”

COMEX GOLD SIGNAL

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27Sep

COMEX MARKET IN SINGAPORE| GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

INTERNATIONAL COMEX NEWS

  • Gold prices slipped lower on Wednesday, but held above the psychologically important $1,200 level , as investors awaited the conclusion of the Federal Reserve meeting later in the day, when it was widely expected to deliver its third rate hike this year. December gold futures were down $2.20 or 0.19% to $1,203.90 by 07.15 AM ET (11.15 GMT) on the Comex division of the New York Mercantile Exchange.
  • West Texas Intermediate oil remained lower in North American trade on Wednesday, as data showed that oil supplies in the U.S. fell more than expected. Crude oil for November delivery on the New York Mercantile Exchange were mostly unchanged, falling 0.62% to trade at $71.81 a barrel by 10:32 AM ET (14:32 GMT) compared to $71.72 prior.
  • China’s soybean processors are snapping up record volumes of Brazilian cargoes for shipment in the fourth quarter, curbing purchases of U.S. crops in North America’s peak marketing season as the trade war between Washington and Beijing intensifies. That shift away from U.S. beans by China, which takes more than 60 percent of the commodity traded worldwide, will pile further pressure on benchmark Chicago Board of Trade prices after they plumbed 10-year lows last week

GOLD TRADING FORECAST TODAY

ECONOMY NEWS

  •  Ireland’s Sharon Donnery and Italy’s Andrea Enria are both likely to be shortlisted by the European Central Bank to head its bank supervision arm from next year, two sources familiar with the process said on Wednesday. The ECB’s Governing Council was to decide on the shortlist later in the day, then consult a European Parliament committee before narrowing down the list to a single candidate later this autumn.
  • Europe’s banking watchdog has backed a recommendation by the Maltese financial regulator to withdraw Pilatus Bank’s banking license following the indictment of its chairman for money laundering. EBA’s move puts pressure on the European Central Bank which is expected to make a decision on whether to withdraw Pilatus’s license as early as this week. A spokesman for the ECB declined to comment.
  • China will cut import tariffs on goods including machinery, paper, textiles and construction materials from Nov. 1, in a move that would lower costs for consumers and companies as a trade war with the U.S. deepens. The decision will lower tariffs for 1,585 products, state radio reported, citing a meeting of the State Council. The combination of these and other tariff cuts this year will lower the tax burden on consumers and companies by about 60 billion yuan ($8.7 billion), the radio reported.

GOLD TRADING FORECAST TODAY

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26Sep

Singapore Stocks Watch: STI resumes Wednesday evening at 3,260.12, up 0.7%

Singapore Stocks Watch:
SINGAPORE stocks continued exchanging higher after Wednesday’s meal break, with the benchmark Straits Times Index climbing 24.04 focuses, or 0.7 for every penny, to 3,260.12 as at 1.02pm.

Gainers dwarfed failures 182 to 132, as 624.3 million offers worth some S$463.5 million altogether changed hands.

The most effectively exchanged counter was Marco Polo Marine with 47.71 million offers exchanged, facilitating 3.45 for each penny or 0.1 Singapore penny to 2.8 Singapore pennies. Different actives included Nico Steel with 24.24 million units exchanged, level at 0.5 Singapore penny; and Thomson Medical with 21.48 million offers evolving hands, up 2.67 for each penny, or 0.2 Singapore penny, to 7.7 Singapore pennies.

Among dynamic record stocks, Singtel included 0.63 for each penny, or two Singapore pennies, to S$3.22, while OCBC Bank increased 0.7 for each penny, or eight Singapore pennies, to S$11.53

Stocks to watch: Sasseur Reit, Sapphire Corp, Datapulse, OUE

Sasseur Reit: An auxiliary of Chinese outlet shopping center trust Sasseur Reit is being sued for 148.4 million yuan (S$29.5 million) and lawful costs, its supervisor said. Units shut on Tuesday at S$0.73 each, down a large portion of a Singapore penny, or 0.68 for every penny.

Sapphire Corp: Mainboard-recorded development bunch Sapphire Corp has anchored a 64 million yuan (S$12.7 million) contract to overhaul a water treatment office in Chengdu, and will perceive income in light of the dynamic fulfillment of the task throughout the following a half year. Sapphire keep going exchanged at S$0.127 on Monday.

Datapulse Technology: Erstwhile circle drive producer Datapulse Technology has settled a slander guarantee against fence stock investments Ascapia Capital, with the two gatherings concurring not to put forth any further expressions about one another, after the question was alluded to intercession. The counter finished unaltered at S$0.27 on Tuesday.

OUE: An OUE unit went into a restrictive deal and buy concession to Tuesday with Asiatower Sudirman for 8,000 sq m of business arrive in South Jakarta, with a sticker price of 1.63 trillion rupiah (S$150 million) in promissory notes. OUE plunged 0.65 for each to S$1.53 on Tuesday, before the news.

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26Sep
trading-forex-with-europefx

Forex Report| Epic Research

INTERNATIONAL CURRENCY BUZZ

Forex – Dollar Slides to Day’s Lows Ahead of Fed Meeting
Forex – EUR/USD clings to gains near 1.1770, US data eyed
Forex – GBP/USD now faces some consolidation – UOB

EUR/USD

EUR/USD alternates gains with losses during the first half of the week and keeps navigating the 1.1760/70 band ahead of the opening bell in Wall Street. The pair continues to navigate in the upper end of the recent range near 1.1800 the figure, although a sustainable breakout of this key resistance still remains elusive. Spot is attempting a very near term sideline theme as global markets expect the Fed decision on rates tomorrow, while jitters on the US-China trade front look mitigated for the time being. In this regard, it is worth mentioning that China cancelled its talks with the US and they’re likely to resume at some point after the US midterm elections. In the meantime, EUR faded part of the Draghi-led recent gains to 1.1800 and above amidst some pick up in the demand for the greenback and a cautious trade ahead if the FOMC gathering on Wednesday. The pair keeps its gains in the 1.1760/70 band ahead of NA open. The greenback remains sidelined above the 94.00 mark.

GBP/USD

“GBP closed higher by +0.59% (NY close of 1.3118) as it recovered some of last Friday’s steep loss. The price action is deemed as part of an on-going consolidation phase. In other words, GBP is expected to trade sideways from here, albeit likely at slightly higher range of 1.3085/1.3180”. Next 1-3 weeks: “In our last update, we expected GBP to extend its gains to the July’s peak of 1.3363. GBP subsequently staged an outsized decline that easily took out the 1.3170 ‘key support’ (low of 1.3041 on Friday). While there is no change to the neutral outlook, the break of the ‘key support’ indicates that GBP has likely made a short-term top at 1.3295 last week. The current movement is viewed as the early stages of a consolidation phase and GBP is expected to trade sideways to slightly lower from here, likely within a broad 1.3020/1.3220 range”.

 

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26Sep

TODAY’S COMEX GOLD SIGNAL AND DAILY TECHNICAL REPORT

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

INTERNATIONAL COMEX NEWS

  •  Gold prices edged higher on Tuesday, as the dollar dipped ahead of the two-day Federal Reserve meeting beginning later in the day, at which it was widely expected to deliver its third rate hike this year. December gold futures edged up 0.12% to $1,205.70 by 08:05 AM ET (12:05 GMT) on the Comex division of the New York Mercantile Exchange. Gold pushed higher as the dollar slid, with the U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, down 0.21% to 93.66.
  • Iran’s oil tankers are starting to disappear from global satellite tracking systems with just under six weeks to go until U.S. sanctions are due to hit the country’s exports, making it harder to keep track of the nation’s sales. No signals have been received by shore stations or satellites from 10 of the Persian Gulf nation’s crude oil supertankers for at least a week, according to tanker tracking data compiled by Bloomberg.
  • Oil prices were trading within reach of four year highs on Tuesday amid fears over a looming supply crunch after global producers decided against any increase in production despite calls from U.S. President Donald Trump for action to cool prices. Global benchmark Brent crude futures were up 0.72% at $81.08 a barrel by 08:44 AM ET (12:44 GMT). Prices hit a high of $81.48 on Monday, the most since November 2014.

Comex Gold Signal

ECONOMY NEWS

  • The United States imposed new sanctions on Venezuelan President Nicolas Maduro’s wife and key members of his government, including the vice president and defense minister, accusing them of plundering the country’s wealth and helping Maduro maintain his grip on power. Venezuelan Vice President Delcy Rodriguez and Defense Minister Vladimir Padrino were among the six people targeted, according to a statement on Tuesday from the U.S. Treasury Department. Three entities and an aircraft were also listed.
  • U.S. sanctions will weigh on Russia’s economic growth but are unlikely to imminently deprive Moscow of its investment -grade rating, the head of Fitch Ratings Sovereigns group said on Tuesday. Concerns about more U.S. sanctions against Russia have intensified in the past few months, even though risks of sanctions that could target new Russian government debt have been in place for around a year. A year ago, Fitch said Russia’s sovereign rating would be one notch higher than its current BBB- level were it not for the latest round of U.S. sanctions. One year on, that is still the case.
  • Talk of a return to $100 oil has the central bank chief of western Europe’s largest petroleum producer worried. A recovery in the oil price to $80 a barrel has been a boon for the Norwegian economy, helping to narrow a widening budget gap and fueling activity. It even this month triggered the first rate increase in seven years. But the nation’s central bank governor is now warning that too high an oil price could again release undue euphoria in the petroleum industry.

comex gold signal

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25Sep

Singapore Stocks Watch: STI resumes Tuesday afternoon at 3,234.17, up 0.5%

Singapore Stocks Watch: SINGAPORE stocks continued exchanging higher after Tuesday’s meal break, with the Straits Times Index rising 15.01 focuses or 0.5 for every penny to 3,234.17 as at 1.01pm.

Gainers dwarfed failures 156 to 129, as around 524.6 million offers worth S$424.7 million altogether changed hands.

The most effectively exchanged counter was Nico Steel with 115.11 million units, up 66.67 for each penny, or 0.2 Singapore penny, to 0.5 Singapore penny. Different actives included Ezion with 68.58 million offers exchanged, up 4.17 for each penny to 7.5 Singapore pennies; and KrisEnergy with 26.07 million offers evolving hands, rising 4.55 for every penny to 11.5 Singapore pennies.

Among dynamic list stocks, OCBC Bank included 0.97 for each penny, or 11 Singapore pennies, to S$11.47, while UOB crept up 0.45 for each penny, or 12 Singapore pennies, to S$27.00

MAS uncovers most recent requirement monograph

It clarifies the office’s investigative controls over the money related area.

The Monetary Authority of Singapore (MAS) uncovered its requirement monograph to give more noteworthy lucidity and straightforwardness into how MAS deflects, recognizes, explores and makes a move against breaks of the guidelines and controls it oversees, a declaration uncovered.

Also, the monograph plots how its requirement office cooperates with the other money related area oversight works in MAS to maintain Singapore’s notoriety for being a perfect and confided in monetary focus.

“At the point when unfortunate behavior happens, it is basic that MAS can recognize, explore and make unequivocal move to implement any rupture of our standards and controls,” MAS collaborator overseeing chief for capital markets Lee Boon Ngiap said. “The implementation monograph gives nitty gritty bits of knowledge into MAS’ authorization procedures and how we distinguish and manage offense cases quickly and reasonably, keeping in mind the end goal to advance market trustworthiness and customer certainty.”

The new monograph is a modified adaptation of the past one place up in January 2016. The most recent version contacts the methodology that MAS takes towards authorization, the job of implementation in the budgetary business oversight, and the key zones of MAS’ requirement practice and powers over the money related industry.

The authorization approach eyes for early location of misconduction and law infringement, compelling discouragement, and to shape business and market lead.

25Sep

COMEX MARKET IN SINGAPORE| GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

INTERNATIONAL COMEX NEWS

  • Gold prices were higher on Monday as the greenback slumped amid trade war tensions and investors waited for the Federal Reserve’s interest rate decision this week. Comex gold futures for December delivery increased 0.36% to $1,205.60 a troy ounce as of 9:29 AM ET (13:29 GMT). The Fed meets on Tuesday and Wednesday, with traders expecting a rate hike for the third time this year.
  • Oil prices continued to climb on Monday as an Iranian official said Saudi Arabia and Russia lack the capacity to add more oil to the market. West Texas Crude oil futures for November rose 1.96% to $72.17 a barrel as of 10:49 AM ET (14:49 GMT). Meanwhile, Brent crude futures, the benchmark for oil prices outside the U.S., increased 2.21% to an almost four-year-high of $79.97.
  • Saudi Arabia and Russia won’t add significantly more oil to the market because of a lack of capacity, a top Iranian official said on Monday, predicting prices will probably rise further. On Sunday, ministers and officials from the Organization of the Petroleum Exporting Countries plus Russia and other allies ruled out an immediate oil-output boost, in effect rebuffing U.S. President Donald Trump’s calls for action.

GOLD TRADING FORECAST TODAY

ECONOMY NEWS

  • The euro zone should be preparing for a big hit if the protectionist measures announced by the United States and China are implemented, the head of the European Central Bank said on Monday. “For the time being, we don’t know what the final size of all this will, be but we know it’s going to be big and we should do our best to be prepared,” Mario Draghi told the EU Parliament in Brussels.
  • President Emmanuel Macron’s government is set to present a series of measures to keep French borders open and transport with the U.K. running as France vows to increase pressure for a Brexit accord. French European Affairs Minister Nathalie Loiseau will present provisions to maintain physical links with the U.K. on Oct. 3 at the weekly cabinet meeting, government spokesman Benjamin Griveaux told reporters in Paris on Monday.
  • Argentina will add $3 billion to $5 billion in additional credit to a $50 billion standby deal the country signed with the IMF in June to cover its financing needs, La Nacion newspaper reported on its website on Monday, citing official sources. It was not immediately possible to confirm details of the report. President Mauricio Macri is in New York for the United Nations General Assembly, where he is due to hold talks with foreign investors and meet with U.S. President Donald Trump, the newspaper said.

GOLD TRADING FORECAST TODAY

For More information and daily updated SGX stock picks, Comex signals, Forex signals Click here – Epic Research Singapore or Whatsapp us at +917312580605

24Sep

TODAY’S COMEX GOLD SIGNAL AND DAILY TECHNICAL REPORT

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

INTERNATIONAL COMEX NEWS

  • The United States is getting “very, very close” to having to move forward on its trade deal with Mexico without Canada, White House economic adviser Kevin Hassett said on Friday. There is just over a week to go before a U.S.-imposed Oct. 1 deadline to publish the text of a deal to update the North American Free Trade Agreement, and the United States and Canada have still not agreed on terms, Hassett told Fox News Channel.
  • WTI crude oil prices settled higher Friday, as traders cheered signs of tightening U.S. output, though sentiment was soured by a report suggesting major oil producers were ready to discuss plans to ramp up output. On the New York Mercantile Exchange, crude futures for October delivery rose 46 cents to settle at $70.78 a barrel, while on London’s Intercontinental Exchange, Brent gained 0.09% to trade at $78.77 a barrel.
  • Metal prices were in rally mode Friday as copper hit 12-week highs, shrugging off a strong dollar on easing trade war fears, though analysts warned downside momentum could resume. The United States and China, earlier this week, announced tariffs at a lower rate than many had feared, helping lift sentiment on trade, easing fears escalating trade tensions would dent China’s appetite for metals.

COMEX GOLD SIGNAL

ECONOMY NEWS

  • China has canceled upcoming trade talks with the United States and will not send vice-premier Liu He to Washington next week, the Wall Street Journal reported, citing sources. The Wall Street Journal said a mid-level delegation was due to travel to Washington ahead of Liu’s visit, but the trip has now been abandoned. Earlier this week, China added $60 billion of U.S. products to its import tariff list as it retaliated against U.S. duties on $200 billion of Chinese goods set to go into effect from Sept. 24.
  • U.S. Treasury official Adam Lerrick has been tapped by the Trump administration to serve as the country’s acting executive director at the International Monetary Fund, the Financial Times reported on Friday, citing a source. Lerrick, who is a counselor for international affairs, will be temporarily appointed U.S. executive director at the IMF while the administration awaits the Senate confirmation of investment banker Mark Rosen to the role, the report said.
  • Newly appointed Zimbabwean Finance Minister Mthuli Ncube would like to employ a “big bang” economic reform program to the battered economy where unemployment is running above 80 percent, but recognizes politics will limit the speed for change. “My preference is a fiscal shock, but there is a what you call the political collar or the politics of policy making which then slows you down. My preference would be more of a big bang approach because every day counts in terms of cost,” Ncube, a former banker, said in a briefing with journalists on the sidelines of an investor conference in New York on Friday.

For More information and daily updated SGX stock picks, Comex signals, Forex signals Click here – Epic Research Singapore or Whatsapp us at +917312580605

24Sep

Singapore Stock Watch: STI resumes Monday evening at 3,230.26, up 0.4%

Singapore Stock Watch :SINGAPORE stocks continued exchanging 0.4 for each penny higher on Monday after the meal break, with the Straits Times Index rising 12.58 focuses to 3,230.26 as at 1.02pm.

Washouts dwarfed gainers 165 to 133, as 587 million offers worth S$410.8 million altogether changed hands.

The most effectively exchanged counter was Nico Steel with 41.27 million offers exchanged, level at 0.3 Singapore penny. Different actives included China Real Estate with 20 million units exchanged, level at 0.2 Singapore penny and Wheelock Properties with 13.35 million offers evolving hands, down 3.23 for every penny to S$2.10.

Dynamic list stocks included DBS, down 0.69 for each penny or 18 Singapore pennies to S$25.85, and OCBC Bank, up 1.51 for every penny or 17 Singapore pennies to S$11.46.

Singapore’s expansion unfaltering in August at 0.7%, in accordance with desires

SINGAPORE’S feature expansion held unfaltering in August with costs up 0.7 for every penny year on year, for the most part because of a more progressive decrease in settlement costs.

This was in accordance with financial analyst desires and only a tick quicker than the 0.6 for each penny for every penny in July, as indicated by the shopper value record (CPI) discharged by the Department of Statistics on Monday.

Center expansion, which strips out the expense of settlement and private street transport, ascended by 1.9 for each penny in August – unaltered from July as higher retail and sustenance swelling balance a control in administrations swelling.

These two back to back months denoted the quickest rate of increment since August 2014, when it climbed 2 for each penny.

Feature expansion ticked up for the most part because of convenience costs which fell by 2.6 for each penny in August, directing from the 3 for every penny decrease in July. This mirrored a slower pace of decrease in lodging rentals and a bigger increment in the expense of lodging support and repairs.

Private street transport costs plunged by 0.2 for every penny in August, indistinguishable pace of decrease from in the earlier month, as a littler fall in auto costs was counterbalanced by a less steep increment in petroleum costs.

The general expense of retail things went up by 2 for each penny in August, up from 1.6 for every penny ascend in July. This was because of a quicker pickup in the costs of apparel and footwear, and also an expansion in the costs of individual consideration items following the decay recorded in July.

Nourishment expansion edged up to 1.7 for every penny in August from 1.5 for each penny in the first month, on the back of a quicker pace of increment in the costs of non-cooked sustenance things and arranged suppers.

Administrations expansion facilitated to 1.3 for each penny in August from 1.5 for every penny the prior month, principally mirroring a decrease in media transmission administrations expenses which had more than balance a quicker pickup in airfares.

In the standpoint by the Monetary Authority of Singapore (MAS) and the Ministry for Trade and Industry (MTI), imported expansion is probably going to rise gently.

Worldwide oil costs have mobilized since the beginning of 2018 and are relied upon to normal higher for the entire year when contrasted with 2017. Then, worldwide sustenance product costs are anticipated to rise somewhat as request reinforces in the midst of adequate supply conditions, said the MAS and the MTI.

Local wellsprings of swelling are relied upon to increment nearby a quicker pace of wage development and a pickup in residential interest. Be that as it may, the degree of buyer cost increments will stay direct, as retail leases have remained moderately curbed and firms’ valuing force might be compelled by showcase rivalry, said the MAS and the MTI.

Center expansion is relied upon to rise continuously through the span of 2018 to normal in the upper portion of the 1 to 2 for every penny gauge run for the entire year. Feature expansion is anticipated to be inside the upper portion of the zero to 1 for each penny estimate extend for the entire year.

Settlement costs are conjecture to fall by a littler degree than in 2017, while private street transport swelling should decrease in 2018 as the inflationary impacts from past authoritative measures scatter, said the MAS and the MTI.

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24Sep
julias_forex_determination

Epic Research| Forex Report

INTERNATIONAL CURRENCY BUZZ

Forex – Dollar Higher as Sterling Slumps on Brexit Woes
Forex – Sterling Hits Intraday Lows as May Says UK-EU at Impasse
Forex – EUR/USD: Fed should help for another visit to 1.15 – Danske Bank

EUR/USD

Next week, the Federal Reserve will meet. According to analysts from Danske Bank, continued Fed hikes should help EUR/USD revisit the 1.15 area again during the course of the autumn. “With the Fed set to stay on autopilot for now, US rates are set to stay a source of USD support. This should help cement the status of the dollar as a carry currency both in terms of the level of and the change in short-end yields.” “With the Fed still keen to continue the process of moving rates back towards ‘neutral’, it remains too early in our view for the FX market to price the Fed going on hold. This should help EUR/USD revisit the 1.15 area again during the course of the autumn.” “As the ECB is set to signal a first hike coming up at a time where the Fed could be looking to go on hold, a EUR/USD uptick will start to materialize. Indeed, it is when easing stops – rather than when hikes occur – that currency appreciation is seen, and vice versa.”

GBP/USD

The dollar rose against its rivals on Friday, as investors reined in appetite for emerging market currencies, while the pound racked up losses as the UK and EU reached an “impasse,” on a post-Brexit deal. The U.S. dollar index, which measures the greenback against a trade-weighted basket of six major currencies, rose by 0.40% to 93.84. UK Prime Minister Theresa May criticized the EU for rejecting her post-Brexit plans, citing it “unacceptable,” particularly as the bloc failed to put forward alternative proposals. May further claimed that the UK and EU were at an “impasse,” denting optimism for a post-Brexit deal agreement following recent reports that the EU were set to adopt a warmer approach to Brexit talks. GBP/USD fell 1.41% to $1.3075, eroding most of the week’s gain as the pair looks set to end the week roughly flat. Turkey unveiled a new economic program earlier this week to reduce its current account deficit, while South Africa’s central bank stood pat on interest rates Thursday.

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