Gold Makes Significant Bullish Breakthrough On Soft Dollar
Thanks to soft US economic data of late, expectations about an aggressive rate hiking cycle by the Fed has diminished.
FXY
Commodities – Metals, Crude Oil Rebound
Commodities price are firmer today with base and especially precious metals ending a bad run off losses, while crude oil has extended its gains from the day before when it rallied sharply on the back of the weekly US oil inventories report.
Dollar Unlikely To Go Down Without A Fight
Financial markets opened in a bit of a panic mode overnight in the wake of Trump’s failure to repeal Obamacare. Stock index futures slumped while the dollar index fell to its lowest since mid-November as the yen and euro both gapped higher. The dollar’s losses steepened after the London open as the GBP/USD climbed to near 1.26 handle and EUR/USD neared 1.0900. European stock indices bounced off their lows slightly.
USDJPY Short-Term Correction Nov 28, 2016
USDJPY is trending higher on its 1-hour chart, moving above an ascending trend line connecting the latest lows of price action. Price is currently testing this support area, which lines up with the 61.8% Fibonacci retracement level and the 100 SMA dynamic inflection point.
Dollar Eases On Profit-Taking Ahead Of An Important Week
Black Friday means financial markets will close earlier than usual today, but don’t despair as there is a lot to look forward to next week.
USDJPY Forecast October 17, 2016, Technical Analysis
The USDJPY pair initially rallied during the course of the session on Friday, but turned around to form a bit of a shooting star.
Dollar Extends Gains In A Busy Week For US Data
The dollar has staged a broad-based rally today, which caused the GBP/USD to tumble to a new 31-year low and the EUR/USD momentarily dipped below its 200-day moving average once again.
USDJPY Forecast September 26, 2016, Technical Analysis
The USDJPY pair went back and forth during the course of the session on Friday, ultimately settling on a neutral candle.
Sterling Surges As Resilience Of UK Economy Continues To Surprise (GBPJPY)
The pound took a pounding in the lead up to and aftermath of the June 23 EU referendum. But in recent weeks, it has staged a remarkable recovery, even though the Bank of England has decided to cut interest rates to near zero and restarted QE.
USDJPY Forecast August 31, 2016, Technical Analysis
The USDJPY pair broke higher during the course of the session on Tuesday, breaking above the top of the shooting star from the Monday session. Because of this, I believe that the market is going to continue going higher, as the Bank of Japan has worked against the value of the Yen and of course the Federal Reserve looks much more likely to potentially raise interest rates in the fairly