FTUKcom

FTUKcom

With the dollar mixed to softer in quiet trade as broader undertone remains weak, sterling can take this opportunity to progress into the next fibonacci D extension zone at 1.3250 which is a huge key level for the pair. As long a we are aware of the 1.3000 psychological level and can keep our stops tight, a decent buying opportunity is here on GBP/USD.

FTUKcom

Not much in terms of fundamentals for the CAD today, we have so much confluence for downside trades. I highly anticipate a 80-100 pip decline into tomorrows session.

FTUKcom

Many technical tools are suggesting the recent drop this afternoon could continue into this evening however there are also many false flags we have to consider as we have yet to see any real downside consistency on the lower timeframes. Recent fall in last hours have been due to the GBP unchanged after on-consensus—but dire—Q2 GDP print data with some reports...

FTUKcom

Another victim of relative Dollar strength and US Treasury curve concessions for Quarterly Refunding, as its rival Usd/Jpy shifts into a loftier range in the upper 106.00 region and Eur/Jpy rebounds from just shy of 125.00 to around 125.55. More upside momentum to come on this pair.

FTUKcom

Gold abandoned Usd 2000/oz status before the bulk of Tuesday’s pre-supply UST bear-steepening, and some pundits have mentioned Russia’s COVID-19 vaccine regulatory approval as the catalyst. However, the extended retreat to sub-Usd 1950 was increased by stops and technical selling alongside the more pronounced rebound in real yields and risk sentiment. Meanwhile,...

FTUKcom

Latest US News: US Federal Reserve announced new capital requirements for large banks as of October 1st following 2020 stress test results in which Goldman Sachs (GS) and Morgan Stanley (MS) were ordered to have the highest. (Cited from Newswires) If the euro can gain momentum today then we are sat at great position on the daily bullish MA's ready for the next...

FTUKcom

The Japanese Yen has regrouped from around 106.20 to 105.72, but never really threatened decent option expiry interest at 105.50 (1.65 bn) and similarly the Euro contained losses through 1.1750 to 1.1740 or so, though left even bigger expiries at the 1.1800 strike (3 bn) untouched after a fleeting look at the big figure in very early trade. 126.50 is the next...

FTUKcom

The Dollar notched new peaks in wake of July’s BLS data, but progress was rather laboured vs most G10 counterparts, bar the Swiss Franc, and the index has decreased at 93.700 after a stop-fuelled rally stopped short of challenging recent highs. Indeed, the DXY is back down below 93.500 vs last week’s 93.997 apex and several major rivals have pared declines as a...

FTUKcom

USD The dollar remains on a firmer hold following Friday’s above-forecast rise in jobs and lower than the expected unemployment rate, but the DXY looks toppy around 93.500 and has not quite been able to follow its post-NFP peak (93.629) within a 93.601-290 band. Relatively light, lacklustre Monday trading volumes have been compounded by market holidays in Japan...

FTUKcom

Latest pound news from market open: UK Trade Minister Truss said UK and Japan have now reached an agreement on major parts of a trade deal in which the elements include ambitious provisions in digital, data and financial service areas that go way beyond the EU-Japan deal. Furthermore, the Japanese Foreign Minister noted a substantial agreement with the UK in...

FTUKcom

So after a recent move back above 1.1850 as anticipated prior to todays mild correction back into the highlighted range. Technically we have retouched the bullish moving average, from here it will be a make or break considering the US data release. Upside bias still remains for 1.2000 into next week. Let's see if we can end with a strong weekly closure.

FTUKcom

Fed's Kaplan (voter) said it is still his opinion that the US economy will grow at a healthy rate in Q3 and Q4 but will not be as proclaimed between the resurge of the virus figures, while he does not believe the future policy will include negative rates. Kaplan also stated he is sceptical on Yield Curve Control although will keep an open mind about it, but added...

FTUKcom

So over last night, the Bank of England held rates at 0.1% (9-0 vote) which was expected and maintained the APF size at GBP 745bln, while it repeated that it expects asset purchases to be completed 'around the turn of the year' and stands ready to adjust policy as needed. Bank of England stated that risks to the outlook for GDP are judged to be skewed to the...

FTUKcom

I posted an idea of GBP/AUD early this week, with the anticipation of GBP/AUD coming to 1.8100. After a recent pullback into 1.8300 we can now clearly see the next fibonacci move lining up. The pound saw some decent upside post-BoE, where policy was left unchanged, but investors favoured the rather optimistic forecasts which was posted by the central bank.

FTUKcom

The cross has drifted back down towards 0.9000 following a much more obvious Euro flight from post-German data tips related to Sterling after a less negative BOE near term outlook via the latest MPC minutes and MPR. Indeed, Eur/Usd has reversed sharply from 1.1915 to circa 1.1840, while Cable is holding firm on the 1.3100 handle between 1.3113-82 even though the...

FTUKcom

Not much extension beyond 123.00 for the Yen vs the Euro last week as relatively buoyant risk sentiment on some improvement in daily rates of COVID-19 cases and deaths combines with signs of progress in terms of extra EU financial support to sap safe-haven demand. The next magnet zone for this pair is the resistance handle found at 127.00 which was last seen in...

FTUKcom

First potential trade setup move for today is on GBP/AUD with a move lower into 1.8100. The AUD seems to be trading much firmer firmer despite the RBA’s resumption of government bond purchases, as this was flagged at yesterday’s meeting and with the upside coinciding with the CNH strengthening to its highest level against USD since early March. In recent news for...

FTUKcom

In the Forex markets this morning, the DXY continued to decline between a drop in yields and following the toing and froing in coronavirus relief discussions where there has been mixed commentary as House Speaker Pelosi and Senate Minority Leader Schumer noted that the sides remain far apart. On the other hand, White House Chief of Staff Meadows suggested...