Current trend The Federal Reserve will hold its September meeting next week, and now market volatility is likely to be increasing amid publications of data on the US economy. Today attention needs to be paid to statistics on jobless claims and retail sales. Economists expect the number of initial jobless claims to increase from 259,000 to 265,000 and the volume...
Current trend Yesterday the US Dollar strengthened against the European currency. The Euro was pressured by the publication of data on economic sentiment in the eurozone. The ZEW survey showed an increase in economic sentiment to 5.4 points that was, however, substantially below market consensus of 6.7 points. Today attention needs to be paid to data on the...
Current trend Yesterday amid the publication of ECB decision on interest rates, EUR/USD volatility was high. Interest rates remained unchanged, and ECB President Mario Draghi said that it would be inappropriate to adopt any radical measures at this time. By the end of the trading session, the pair returned in the region of 1.1245-1.1260. Moreover, weak...
Current trend Yesterday the EUR/USD pair was consolidating after its growth on Tuesday amid the publication of the US ISM Non-Manufacturing PMI. The index fell from 55.5 to 51.4 points in August against an expected decline to 55.0 points. Market participants now see only a 15% chance of an increase in interest rates at the Fed’s September meeting. Today...
Current trend Yesterday the EUR/USD pair significantly grew and reached the level of 1.1262. The pair was supported by weak data on the ISM Non-Manufacturing PMI in the US. In August, the index fell from 55.5 to 51.4 points while experts forecasted a decline to only 55.0 points. After the release, the probability of an interest rate hike in September fell to...
Current trend The pair continues growing amid positive macroeconomic statistics from the UK. The Markit Services PMI showed a significant increase from 47.4 to 52.9 points, against forecasted 50.0 points. In addition, the US Dollar remains under pressure after Friday’s publication of the labour market report that did not match the expectations. Today pair’s...
Current trend Yesterday the pair substantially grew amid weakening in the US Dollar, which was pressured by poor data on the ISM Manufacturing PMI from the US. In August, the index fell from 52.6 points to 49.4 points while economists predicted a fall to only 52.0 points. Today extra attention needs to be paid to data on the US labour market. According to...
Current trend The USD/CAD pair continues growing amid a fall in oil prices, which were pressured by data on US crude oil stocks. At the same time, it should be noted that though Canada’s economy showed a strong growth in July, it had no influence on dynamics in the pair. At present, further upward movement seems a likelier scenario amid expectations that the Fed...
Current trend This week the pair continues falling amid an increased probability of monetary policy tightening by the American regulator before the end of the year. Giving a speech at the symposium in Jackson Hole, Fed Chair Janet Yellen stated that it would be reasonable to hike interest rates in the nearest future. In addition, Fed Vice Chairman Stanley...
Current trend The GBP/USD pair was growing, but did not manage to break out the resistance level of 1.3272, and started correcting down amid the lack of support from macroeconomic statistics. Today attention needs to be paid to data on the Initial Jobless Claims and Durable Goods Orders, due in the US at 2:30 pm (GMT+2). Both indicators are expected to show...
Current trend Yesterday the US Dollar moderately strengthened against the Euro amid positive data on the US property market. In July, New Home Sales grew from 582 to 654 thousands while economists predicted a fall to 580 thousands. In addition, the pair is pressured by expectations of Fed Chair Janet Yellen speech on monetary policy, which is due this...
Current trend The pair continues growing amid weakening in the US Dollar, which remains under pressure due to a fallen probability of monetary policy tightening by the American regulator in the nearest future. In addition, the pair was supported by today’s Reserve Bank of New Zealand President Graeme Wheeler speech in which he noted the effectiveness of pursued...
Current trend Yesterday the pair continued growing amid weakening in the US Dollar. The American currency is pressured by a low probability of an interest rate increase by the Fed this year as the latest FOMC Minutes showed a unanimous opinion of key committee members to leave the rate unchanged. Today no important macroeconomic data that could affect dynamics...
Current trend In the Asian trading session, the Yen grew moderately against the Euro amid strong data on Japan’s trade balance. The country recorded a 513.5 billion surplus in July that is substantially above consensus of a 283.7 billion surplus. Today the eurozone’s Consumer Price Index came out below market forecasts. The data showed that the index fell 0.6%...
Current trend Last week, the USD/CAD pair was under pressure amid a growth in oil prices. The Canadian Dollar gained strong support when Saudi Energy Minister said the country would discuss measures aimed at stabilizing prices with other oil producers during a meeting in late September. At the same time, Saudi Arabia boosted its oil output in July to a record...
Current trend Demand for gold continues growing and has reached 2,335 tons in the first half of 2016. In April-June period, total demand increased by 15 percent compared to the 2015 second quarter. Investors are shifting their assets to gold to reduce the risk amid the lack of stability in global markets. It should also be noted that central banks’ bond-buying...
Current trend This week, the pair recovered the losses it incurred last Friday when the US released strong data on the labour market. At present, the price corrected to the region of the middle MA of Bollinger Bands and attempts to resume its growth. Critical for Bulls seems to be the level of 1.1166 that coincides with 23.6% Fibonacci correction. Its breakout...
Current trend The pair continues consolidating near the level of 101.10. Yesterday, the Yen strengthened against the Dollar amid the publication of data on the Nonfarm Productivity in the US. In the second quarter of the year, the index fell by 0.5% while experts predicted a growth of 0.4%. In the first quarter, the index declined by 0.6%. Today attention needs...