Weekly Market Update 01/08/16-05/08/16

    Good morning, Last week the US dollar lost ground against all the currencies in the major group.  The Japanese Yen soared, not only against the Greenback, after Bank of Japan's Kuroda disappointed the financial community. It was a very volatile session last Friday night as the daily drop of UsdJpy showed a more complicated price pattern intraday, where it is possible that algo traders made the bulk of the volume.  The BoJ increased its ETF monthly purchases but kept the purchase of domestic sovereign bonds (JBG) an more ...

    Posted 27 days ago (0) comments

    EURCHF August 22, 2016

    High: 1.0892 | Low: 1.0855 1.0884 / 1.0881

    Currently approaching and interesting area of resistance where the 100 and 200 day SMAs converge with the supporting trendline turned resistance and the monthly highs printed earlier this month between 1.0930/40 The 1.08 figure could be targeted by bearish traders should the resistance hold. Should the resistance be passed the next level is expected to be the 1.10 figure. more ...

    Posted 6 days ago (0) comments

    USDJPY August 22, 2016

    High: 100.93 | Low: 100.50 100.65 / 100.62

    USOIL August 22, 2016

    High: 48.94 | Low: 48.20 48.50 / 48.47

    GBPUSD August 22, 2016

    High: 1.3070 | Low: 1.3034 1.3053 / 1.3050

    SGDJPY August 03, 2016

    High: 75.46 | Low: 75.21 75.39 / 75.36

    Economic News August 26, 2016

    Good evening, Volatility was expected and it materialized when FED Chairwoman started her speech at the Jackson Hole Symposium.  The US dollar lost and risky asset soared but then few minutes later the situation reversed and the trading session found a direction, with a decreased risk appetite. Fed funds futures priced an increased probability of a rate hike (24%) at the beginning of this week, but today traders expect a 18% rate hike probability for the next month.  It seems quite unlikely a rate hike during the election month because markets could became nervous and thus would be bad timing. At this point could not be excluded a smile, where the rate hike probability could rise again for the next month, decrease for the November meeting and increase again for the December one.  However it seems that traders in FX and other assets starte Read More ...

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