Forex Market

26Aug
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IForex Market Trading Signals and News – 26 August 2015

INTERNATIONAL CURRENCY BUZZ :

  • FOREX – Sterling at 7-week highs but rate hike uncertainty caps gains
  • FOREX – AUD/USD rises off previous session’s 6-year trough
  • FOREX – NZD/USD edges higher, recovers from China turmoil

GBP/USD
The sterling remains on the positive footing vs. the dollar on Tuesday, lifting GBP/USD to the 1.5800 neighbourhood. The pair is advancing for the third consecutive week so far, propped up by expectations of a BoE rate hike sooner than market expectations, while on the other hand, investors continue to push back the timing of a rate hike by the Federal Reserve. Ahead in the session, US New Home Sales, Market’s Services PMI and Consumer Confidence will dictate the USD’s dynamics, while the most relevant release in the UK economy will come on Thursday with the flash Q2 GDP figures.

EUR/USD
The EUR moved notably higher at the start of the week and in the process has taken out key levels against both the pound sterling and US dollar. The euro to dollar conversion hit a best of 1.1714 – levels not seen since January 2015. The euro to pound sterling exchange rate meanwhile hit a high at 0.7422. The UK currency has declined against the euro for a third consecutive week (the first time that has happened since March/April) and one consequence of this ongoing weakness is that it has broken down through its short-term uptrend (and 50-day moving average).

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.5720 TARGET 1.5740 1.5770 SL 15690
  • SELL GBP/USD BELOW 1.5700 TARGET 1.5680 1.5650 SL 1.5730

For more information about Forex Signals and Market Updates, please visit EPIC RESEARCH SINGAPORE.

25Aug
Forex Signals

IForex Market Trading Signals and News – 25 August 2015

INTERNATIONAL CURRENCY BUZZ :

  • FOREX – Emerging market currencies drop as China turmoil spreads
  • FOREX – Dollar drops to 2-month lows on growth concerns
  • FOREX – Yen, euro rally as selloff in China escalates

GBP/USD
The bid tone surrounding the GBP/USD pair remains untouched in the European session, as the pound reversed early losses and remains firmer versus the US dollar amid risk-off market profile. The GBP/USD pair trades 0.16% higher at 1.5718, having posted a high at 1.5727 and a low at 1.5631. The cable manages to hold gains amid risk-off sentiments fuelled by China worries while broadly lower US dollar on fading Sept rate hike expectations after the recent dovish FOMC minutes. However, falling oil prices continue to weigh on UK’s mining and energy sector, keeping the upside in GBP/USD restricted. While markets completely shrugged off upbeat growth forecasts by CBI on the UK economy. The UK economy is estimated to rise 2.6% this year, before accelerating further to 2.8% next year, the Confederation of British Industries (CBI) said on Monday. Both figures are higher than its previous estimates.

EUR/USD
The unwinding of the carry trades amid risk aversion appears to have failed to push the EUR/USD pair above 1.15 levels for the second time yesterday. An attempt to take out 1.15 failed in the Asian session leading to a 80-pip fall to 1.1420. It was followed by a rebound to 1.15 on the back of a sell-off in the European stocks. However, the spot failed to take out 1.15 once again may be since the major stock markets in the Europe have stabilized around the daily lows. The pair now trades around 1.1470, leading to a double top formation with the neckline at 1.1420 on the intraday technical charts. Another attempt at 1.15 could be seen in case the US equity futures point to a more intense risk aversion on the Wall Street.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.5790 TARGET 1.5810 1.5840 SL 1.5760
  • SELL GBP/USD BELOW 1.5660 TARGET 1.5640 1.5610 SL 1.5690

For more information about Forex Signals and Market Updates, please visit EPIC RESEARCH SINGAPORE.

24Aug

IForex Market Trading Signals and News – 24 August 2015

INTERNATIONAL CURRENCY BUZZ :

  • FOREX-Currency Wars Escalate As China’s Move Triggers a Chain Reaction
  • FOREX- Greek Forex Brokers Open for Business Despite Ongoing Restrictions
  • FOREX- Aussie slumps as Caixin China flash PMI weaker than expected

GBP/USD
The near-term breakout in GBP/USD may gather pace during the last full-week of August should the key speeches by central officials point to a tightening race between the Bank of England (BoE) and the Federal Reserve to normalize monetary policy. The sterling is posting marginal losses vs. the greenback on Friday, with GBP/USD re-visiting session lows in the 1.5680. The upside in GBP seems to have run out of steam around 1.5720, or multi-week tops, fuelled by the generalized offered tone surrounding the dollar and increasing expectations of a rate hike by the BoE sooner than market currently estimates. In the data space, UK’s Public Sector Net Borrowing came in at £2.07 billion vs. £2.40 billion initially anticipated. In the US, Market’s manufacturing PMI is due later, with consensus pointing to a slight improvement to 54.0 for the current month vs. July’s 53.8.

EUR/USD
EUR/USD soared more than 1% for the second consecutive session to move to its highest level in nearly two months, amid a massive sell-off in equity markets worldwide as concerns of a recession in China mounted. The currency pair traded between a range of 1.1229 and 1.1389 before settling at 1.1384, up 0.0144 or 1.28% on Friday’s session. The euro closed higher against the dollar for the third straight session, moving to its highest versus its American counterpart since late- June. While the pair has remained in a holding pattern between 1.08 and 1.14 for the majority of 2015, it is by roughly 4% since the start of the summer. Stocks around the world have suffered a massive sell-off since Wednesday afternoon when the Federal Open Market Committee rattled markets with the release of relatively dovish minutes from its July meeting, which provided indications that persisting weakness in the economy could prompt it to delay an interest rate hike beyond September

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.5725 TARGET 1.5745 1.5775 SL 1.5695
  • SELL GBP/USD BELOW 1.5600 TARGET 1.5580 1.5550 SL 1.5630

For more information about Forex Signals and Market Updates, please visit EPIC RESEARCH SINGAPORE.

21Aug
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IForex Market Trading Signals and News – 21 August 2015

INTERNATIONAL CURRENCY BUZZ :

  • FOREX-Emerging currencies hit by growth fears after Fed minutes
  • FOREX- Turkish lira, Russian ruble sink to new lows against U.S. dollar
  • FOREX- Sterling falls to session lows after UK retail sales disappoint

GBP/USD
A 0.4% rebound in U.K. Retail Sales may heighten the appeal of the British Pound and fuel the near-term breakout in GBP/USD as it puts increased pressure on the Bank of England (BoE) to raise the benchmark interest rate off of the record-low. Positive data prints coming out of the U.K. economy may highlight a tightening race between the BoE/Fed to normalize monetary pol- icy, and GBP/USD may continue to retrace the decline from July 2014 should the fundamental developments spur a growing dissent within the Monetary Policy Committee (MPC). Stronger wage growth paired with the expansion in private-sector credit may boost household spending in the U.K., and a strong rebound in retail sales may generate fresh monthly highs in GBP/USD as market participants ramp up expectations for a BoE rate hike.

EUR/USD
EUR/USD recovered from lows reached just ahead of 1.11 barrier and posts modest gains the European morning, as the traders digest the Greece-ECB repayment headlines amid a data-light EUR docket. Focus now shifts back towards a host of US data flow due later yesterday. The EUR/USD pair trades 0.15% higher at 1.1136, clinging to 1.100 levels. The main currency pair erased losses and turned back in the green territory as the strengthening EUR/GBP cross on UK retail sales miss continues to push EUR/USD higher. Moreover, renewed optimism surrounding Greece after the nation made a EUR 3.4 billion loan repayment to the ECB, also boosted the European currency higher across the board Meanwhile, markets now await a series of US economic releases due later today for further momentum on the pair. US weekly jobless claims, existing home sales and Philly Fed manufacturing index will be on the cards.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.5710 TARGET 1.5730 1.5760 SL 1.5680
  • SELL GBP/USD BELOW 1.5590 TARGET 1.5570 1.5540 SL 1.5620

For more information about Forex Signals and Market Updates, please visit EPIC RESEARCH SINGAPORE.

20Aug

IForex Market Trading Signals and News – 20 August 2015

INTERNATIONAL CURRENCY BUZZ :

  • FOREX – Sterling remains supported on rate hike expectations
  • FOREX – Dollar eases lower before U.S. inflation data, Fed minutes
  • FOREX – Yen up slightly as July trade data shows solid export gains

GBP/USD
The British pound faced rejection at 1.57 handle and trimmed gains versus the US dollar in the mid-European session, keeping GBP/USD in the upper band of 1.56 barrier, as the pound stands resilient to the broad based US dollar recovery ahead of US data, which is anticipated to add to the recent USD strength. The GBP/USD pair trades 0.12% higher at 1.5679, having posted a high at 1.5697 and a low at 1.5660. The cable remains better bid driven by expectations of a BOE rate hike following upbeat UK Core CPI on Tuesday, although gains are somewhat capped by the anticipated USD strength, supported by US data. Markets will be watching closely US session which offers the latest US CPI numbers for July as well as the Federal Open Market Committee (FOMC) minutes, with both expected to confirm the recent upsurge in the US dollar. Meanwhile, the US dollar index, a virtual gauge of greenback’s strength, now recovers losses and trades -0.07% lower at 96.92.

EUR/USD
A bout of selling interest has hit the euro on Wednesday, now dragging EUR/USD to test the lower bound of the range around 1.1035/30.The pair has fully faded the initial spike to fresh peaks near 1.1080, giving away more than 50 pips albeit still keeping daily gains in the 1.1030/35 band. While market participants keeping an eye on the Bundestag vote on the Greek bailout, data in the euro bloc showed the Current Account surplus rose to a seasonally adjusted €25.4 billion during June, up from €18.0 billion .Next on tap, inflation figures in the US economy are due ahead of the FOMC minutes. Prior surveys expect core consumer prices to have risen 1.8% on a yearly basis while headline prices would have advanced 0.2% YoY.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.5710 TARGET 1.5730 1.5760 SL 1.5680
  • SELL GBP/USD BELOW 1.5665 TARGET 1.5645 1.5615 SL 1.5695

For more information about Forex Signals and Market Updates, please visit EPIC RESEARCH SINGAPORE.

19Aug
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IForex Market Trading Signals and News – 19 August 2015

INTERNATIONAL CURRENCY BUZZ :

  • FOREX-Dollar edges higher, yen shrugs off Japan GDP contraction
  • FOREX- Yuan steadier as fears of prolonged depreciation ease
  • FOREX- Yen a tick weaker ahead of Japan Q2 GDP

GBP/USD
The British pound keeps pushing higher versus the US dollar in the mid-European session, driving GBP/USD to fresh session highs beyond 1.5700 levels, as the pound enjoys solid gains from UK CPI numbers which backs the case for BOE rate lift-off this year. The GBP/USD pair trades 0.80% higher at 1.5709, quickly cooling-off fresh monthly highs reached at 1.5717. The bid tone around the cable keeps increasing as the UK traders continue to cheer improving price pressures in the UK which now heightens expectations for BOE rate-hike. UK inflation accelerated 0.1% in July on a yearly basis, compared to zero growth seen in the previous month. On a monthly basis the reading dropped 0.2% from the previous month’s 0.0%. Core inflation, a less volatile measure stripped of energy and food prices, soared above estimates to 1.2%, its highest rate in five months.

EUR/USD
After facing rejection just shy of 1.11 barrier, EUR/USD retraced to familiar range and trades muted around 1.1070 levels mainly driven weakness seen in EUR/GBP following the release of UK CPI print. The EUR/USD pair trades -0.07% lower at 1.1070, fading a spike to 1.1094 session highs. The recovery in the EUR/USD pair remained short-lived as the major slipped back into the negative territory largely dragged by steep losses witnessed in EUR/GBP after above expectations UK CPI figures boosted the pound across the board. Also, markets remain nervous ahead of a looming big debt repayment to the ECB on Thursday. Greece is waiting for the last step in its current bailout saga: approval of eleven euro zone parliaments before Athens could receive the first tranche from the third rescue package.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.5730 TARGET 1.5750 1.5780 SL 1.5700
  • SELL GBP/USD BELOW 1.5560 TARGET 1.5540 1.5510 SL 1.5590

For more information about Forex Signals and Market Updates, please visit EPIC RESEARCH SINGAPORE.

18Aug
forex-market-hours

IForex Market Trading Signals and News – 18 August 2015

INTERNATIONAL CURRENCY BUZZ :

  • FOREX-Dollar edges higher, yen shrugs off Japan GDP contraction
  • FOREX- Yuan steadier as fears of prolonged depreciation ease
  • FOREX- Yen a tick weaker ahead of Japan Q2 GDP

GBP/USD
The sterling is now alternating gains with losses vs. the dollar, with GBP/USD around 1.5640 after dropping to lows near 1.5620. Spot has been rejected from the 1.5690 area once again in early trade, triggering the current leg lower to daily troughs near 1.5620 amidst a generalized tone favoring the greenback. It will be a key week for the pound, as inflation figures are due to- morrow ahead of Retail Sales (Thursday) and Public Sector Net Borrowing (Friday). Prior surveys expect core consumer prices to have rise at an annual pace of 0.8% during July. Spot has been rejected from the 1.5690 area once again in early trade, triggering the current leg lower to daily troughs near 1.5620 amidst a generalized tone favoring the greenback.

EUR/USD
After bottoming out in session lows near 1.1060, EUR/USD has recovered part of its shine and is now back around the 1.1090 area. EUR/USD focus on US data Last week’s auspicious results from the US docket have reignited the likeliness that the Federal Reserve could hike rates as soon as next month, giving extra legs to the recent USD-buying sentiment and helping spot to come down from multi-week tops in the 1.1200 neighborhood. Data wise in Euro land, June’s trade surplus came in at a non-seasonally adjusted €26.4 billion vs. €18.8 billion from the previous month. Across the pond, the regional manufacturing gauge tracked by the Empire State index is due, followed by the NAHB Housing Market index and the TIC Flows.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.5610 TARGET 1.5630 1.5660 SL 1.5580
  • SELL GBP/USD BELOW 1.5550 TARGET 1.5530 1.5500 SL 1.5580

For more information about Forex Signals and Market Updates, please visit EPIC RESEARCH SINGAPORE.

17Aug

IForex Market Trading Signals and News – 17 August 2015

INTERNATIONAL CURRENCY BUZZ :

  • FOREX – Kiwi down as retail sales disappoint in Q2, China ripples eyed
  • FOREX – Dollar edges higher ahead of U.S. data
  • FOREX – EUR/USD almost unchanged ahead of E.Z. data

GBP/USD
The pound held steady against the U.S. dollar in quiet trade on Friday, as expectations for inter- est rate hikes by both the Federal Reserve and the Bank of England continued to lend equal support to the two currencies. The bid tone is now gathering pace around the sterling on Friday, with GBP/US advancing to session tops near 1.5630. The pair is extending its consolidative pattern at the end of the week, navigating the upper band of the weekly range in the low- 1.5600s and coming down from recent tops in the critical resistance at 1.5650. Next of relevance in the pair will come from the US docket, where Producer Prices, the Reuters/Michigan index and Industrial Production area all due later.

EUR/USD
The Euro-Zone’s 2Q Gross Domestic Product (GDP) report may boost the appeal of the single currency and spur fresh monthly highs in EUR/USD as the growth rate is expected to increase 1.3% following the 1.0% expansion during the first three-months of 2015. Despite the European Central Bank’s (ECB) pledge to ‘fully implement’ its quantitative easing (QE) program, data prints pointing to a stronger recovery may encourage the Governing Council to adopt an improved outlook for the region, and the board remains at risk of facing a ‘taper tantrum’ over the medium-term as central bank President Mario Draghi remains confident in achieving the one and only mandate for stability.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.5660 TARGET 1.5680 1.5710 SL 1.5630
  • SELL GBP/USD BELOW 1.5590 TARGET 1.5570 1.5540 SL 1.5620

For more information about Forex Signals and Market Updates, please visit EPIC RESEARCH SINGAPORE.

14Aug
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IForex Market Trading Signals and News – 14 August 2015

INTERNATIONAL CURRENCY BUZZ :

  • FOREX-Dollar moves higher as focus returns to U.S. rate hike
  • FOREX- AUD/USD moderately lower, China turmoil subides
  • FOREX- Kiwi slips lower vs. stronger greenback

GBP/USD
The British pound keeps its range play intact, although edges slightly higher in the mid-European session, lifting GBP/USD once again for a test of key barrier near 1.5635 levels. The GBP/USD pair trades 0.10% higher at 1.5629, inching higher towards session highs located at 1.5636. The cable witnessed a fresh bid wave as the GBP bulls try hard to surpass the session highs which could open doors for further upside towards previous highs. However, every attempt to the upside is restricted on the back of broad-based US dollar strength as Sept Fed rate lift-off is back in play. The US dollar index, a virtual gauge of greenback’s strength, now trades 0.34% higher at 96.60.

EUR/USD
Markets are quieter this Thursday, despite that the PBoC once again devalued the reference rate for the renminbi this time by 1.1%. Nevertheless, Asian markets rose, on hopes the Central Bank won’t extend the devaluation much further. European stocks are also on the rise, putting the common currency under pressure, and the EUR/USD pair trades near a daily low established at 1.1106. In Europe, German inflation rose by 0.2% in July 2015, meeting market’s expectations. During the day, the Greek Parliament will vote on the latest agreement between the country and its creditors, getting one step closer to receive its third bailout.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.5636 TARGET 1.5656 1.5686 SL 1.5606
  • SELL GBP/USD BELOW 1.5590 TARGET 1.5570 1.5540 SL 1.5620

For more information about Forex Signals and Market Updates, please visit EPIC RESEARCH SINGAPORE.

13Aug
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IForex Market Trading Signals and News – 13 August 2015

INTERNATIONAL CURRENCY BUZZ :

  • FOREX- Dollar drops against rivals after 2nd yuan devaluation
  • FOREX- Sterling dips after U.K. employment report
  • FOREX- NZD/USD near 6-year trough as yuan devaluation still weighs

GBP/USD
The GBP/USD pair is unable to detach from the 1.5600 price zone, having retraced from a daily high of 1.5604 after the release of the UK employment data, which suggests the labor market is losing pace. More people in Britain is looking for a job, which left the jobless rate at 5.6% in July. Wages, including bonuses, rose 2.4% in its year-on-year reading in the second quarter, compared to the 3.2% printed the previous month. News sent the pair to a daily low of 1.5534, from where the pair bounced back. Another 1.0K expansion in U.K. Jobless Claims may produce headwinds for the British Pound and spur a near-term decline in GBP/USD as it raises the risk of seeing the Bank of England (BoE) further delay its normalization cycle.

EUR/USD
The euro rose to two week highs against the dollar on Wednesday after China devalued the yuan for the second day, as investors continued to unwind euro-funded positions on the Chinese currency. EUR/USD was up 0.67% to 1.1115, the most since July 27. The yuan fell sharply against the dollar for the second straight day on Wednesday after the People’s Bank of China set the yuan’s midpoint rate weaker than at Tuesday’s closing. China devalued its currency by 2% in a surprise move on Tuesday to make its exports more competitive and shore up growth in the flagging economy. The PBOC has described the move as a “one-off depreciation”, based on a new way of managing the exchange rate that better reflected market forces.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.5660 TARGET 1.5680 1.5710 SL 1.5630
  • SELL GBP/USD BELOW 1.5530 TARGET 1.5510 1.5480 SL 1.5560

For more information about Forex Signals and Market Updates, please visit EPIC RESEARCH SINGAPORE.

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