[phpBB Debug] PHP Notice: in file /inc_viewtopic.php on line 1494: Undefined variable: sMetaDescription
Forex Forum to Share, Discuss, Communicate and Trade Forex • Daily Market News By FXNET
Page 9 of 11

Re: Daily Market News By FXNET

PostPosted: Mon Nov 17, 2014 8:51 am
by CommexFX
Weekly Outlook 17-11-2014
EUR USD
EUR/USD’s consolidation from 1.2357 continued last week. Initial bias remains neutral this week first. Upside of recovery should be limited by 1.2613 minor resistance and bring fall resumption. Below 1.2357 will target 61.8% projection of 1.3700 to 1.2500 from 1.2886 at 1.2144. However, break of 1.2357 will indicate short term bottoming with bullish convergence condition in daily MACD. In such case, strong rebound should be seen to 1.2886 resistance.
In the long term picture, EUR/USD turned into a long term consolidation pattern since reaching 1.6039 in 2008. Such consolidation is still in progress. And break of 1.2042 will likely pave the way to 61.8% retracement of 0.8223 to 1.6039 at 1.1209. Before that, EUR/USD would continue to engage in sideway trading between 1.1875 and 1.5143 in medium term.
GBP USD
GBP/USD’s decline from 1.7190 extended to as low as 1.5592 last week and took out 61.8% retracement of 1.4813 to 1.7190 at 1.5721. Initial bias remains on the downside this week. Further fall should be seen to 100% projection of 1.7190 to 1.6051 from 1.6523 at 1.5384 next. On the upside, above 1.5789 minor resistance will turn bias neutral and bring consolidations before staging another decline.
In the longer term picture, we’re sticking on to the view that price actions from 1.3503 are the fourth wave of the five wave sequence from 2.1161. That means, firstly, 1.3503 shouldn’t be the end point of the downtrend yet and a new low is expected. However, secondly, as the next fall could be the fifth wave, the breach of 1.3503 could be shallow and brief from long term point of view and we’ll then see a more sustainable rebound.
USD JPY
USD/JPY’s up trend continued last week and reached as high as 116.82. Further rally is expected this week to 161.8% projection of 101.08 to 110.08 from 105.19 at 119.75 next. On the downside, break of 113.85 support is needed to indicate short term topping. Otherwise, outlook will stay bullish in case of retreat.
In the long term picture, the strong impulsive look of the rally from 75.56 suggests that USD/JPY is now in a long term up trend. Based on current momentum, such rally should at least take out 61.8% retracement of 147.68 to 75.56 at 120.13 and have a test on 124.13 resistance.
USD CHF
USD/CHF’s consolidation from 0.9741 extended last week. Initial bias remains neutral this week first. As long as 0.9559 minor support intact, further rally is still expected. Above 0.9741 will extend the whole rise from 0.8698 to 0.9838/9971 key resistance zone. Nonetheless, break of 0.9559 will argue that a short term top is in place at 0.9741, on bearish divergence condition in daily MACD. In such case, deeper pull back would be seen to 0.9359 support and below.
In the longer term picture, we’d maintain that price actions from 0.9971 are corrective in nature. That is, the up trend from 0.7065 should resume after finishing the correction. And, note that break of 0.9971 will also have 55 months EMA firmly taken out and would be a strong indication of completion of the down trend from 1.8305 (2000 high). In that case, USD/CHF should at least have a take of 1.1288 cluster resistance (38.2 % retracement of 1.8305 to 0.7065 at 1.1358).
http://www.commexfx.com/weekly-outlook-17-11-2014/

Good morning and welcome, you’re watching the CommexFX daily

PostPosted: Thu Dec 11, 2014 7:32 am
by CommexFX
EUR/USD
The EUR rose 0.53% against the USD and closed at 1.2446. Yesterday, the ECB Executive Board member, Benoit Coeure urged governments of the Euro-zone member nations to introduce structural reforms in order to promote growth and overcome the period of low inflation in the Euro area. In the US, the budget deficit fell to $56.82 billion in November, while markets expected the nation’s budget deficit to fall to $65.00 billion. The pair is expected to find support at 1.2381, and a fall through could take it to the next support level of 1.2306. The pair is expected to find its first resistance at 1.2513, and a rise through could take it to the next resistance level of 1.2571. Trading trends in the Euro today are expected to be determined by Germany’s crucial CPI data, scheduled in a few hours. Meanwhile, investors would closely monitor the US retail sales and weekly initial jobless claims data, scheduled later today.

GBP/USD
GBP rose 0.27% against the USD and closed at 1.5717, after Britain’s total trade deficit dropped more than anticipated to £2.02 billion in October. Separately, the BoE’s Monetary Policy Committee Member, Ian McCafferty opined that the central bank should start increasing its benchmark interest rate sooner rather than later and keep in mind that the hike should be “limited” and “gradual”. Yesterday, the British Chambers of Commerce projected the UK economy to grow 3% this year, as compared to its earlier projection of 3.2%; however the growth would be at its fastest pace in seven years. Earlier today, the RICS house price balance in the UK dropped to a reading of 13.0 in November, compared to market expectations of a drop to a level of 15.0. In the previous month, the house price balance had recorded a reading of 20.0 The pair is expected to find support at 1.5655, and a fall through could take it to the next support level of 1.5595. The pair is expected to find its first resistance at 1.5767, and a rise through could take it to the next resistance level of 1.5818. Amid no economic releases in the UK today, market sentiment would be governed by global macroeconomic news.

USD/JPY
The USD weakened 1.41% against the JPY and closed at 117.94. Overnight data indicated that Japan’s machine orders retreated more than expected 6.4% on a monthly basis in October, against market expectations of 1.7%. Overnight data indicated that Japan’s machine orders retreated more than expected 6.4% on a monthly basis in October, against market expectations of 1.7% decline and following an advance of 2.9% registered in September. Additionally, the nation’s tertiary industry index eased 0.2% on a MoM basis in October, in line with market expectations and after registering a rise of 1.3% in the preceding month.
The pair is expected to find support at 117.13, and a fall through could take it to the next support level of 116.21. The pair is expected to find its first resistance at 119.28, and a rise through could take it to the next resistance level of 120.51.

AUD/USD
The AUD strengthened 0.23% against the USD to close at 0.8319. Early morning data indicated that Australia’s unemployment rate climbed to 6.3% in November, at par with market estimates and after advancing 6.2% in the previous month. Meanwhile, number of employed people in the nation climbed more than expected by 42.7 K in November, against market expectations to add 15.0 K jobs and following a revised increase of 13.7 K registered in October. In other economic news, Australia’s consumer inflation expectation eased to 3.4% in December, after registering a level of 4.1% in the previous month. The pair is expected to find support at 0.8281, and a fall through could take it to the next support level of 0.8231. The pair is expected to find its first resistance at 0.8380, and a rise through could take it to the next resistance level of 0.8428.

XAU/USD
Gold prices traded lower by 0.28% against the USD at 1227.70 per ounce, reversing its previous session gains. The pair is expected to find support at 1224.03, and a fall through could take it to the next support level of 1217.76. The pair is expected to find its first resistance at 1237.73, and a rise through could take it to the next resistance level of 1245.16.

Commexfx is now offering a new application. Download the brand new CommexFX Trade Mate App right now and receive daily market predictions, suggested market directions to trade on, highlighted best trading options and more covering a wide range of markets including Energy, Metals, Indices and Forex among others.Trade easily, Trade Successfully. For more information on CommexFX Trade Mate App kindly visit our main website.

http://www.commexfx.com/daily-outlook-11-12-2014/

Weekly Outlook 26-01-2015

PostPosted: Mon Jan 26, 2015 8:08 am
by CommexFX
EUR USD
The broadly weaker euro dropped to fresh 11-year lows against the dollar on Friday one day after the European Central Bank unveiled a large scale asset purchase plan, aimed at boosting slowing growth and inflation in the euro zone.EUR/USD fell to 1.1118, the lowest since early September 2003 before pulling back to 1.1203 in late trade, still off 1.39% for the day. The euro ended the week down more than 3% against the dollar and has lost almost 7.5% so far this year.
GBP USD
GBP/USD’s down trend resumed last. week by breaking 1.5033 and reached as low as 1.4950. Initial bias remains on the downside this week for next key support level at 1.4813. On the upside, break of 1.5268 is needed to indicate short term bottoming. Otherwise, outlook will stay bearish in case of recovery.
AUD USD
The Australian dollar tumbled more than 1% against its U.S. counterpart on Friday to hit the lowest level in more than five years, as ongoing concerns over the health of the global economy boosted demand for safe haven assets. AUD/USD fell to 0.7882 on Friday, a level not seen since July 2009, before subsequently consolidating at 0.7908 by close of trade on Friday, down 1.43% for the day and 3.88% lower for the week.The pair is likely to find support at 0.7811, the low from July 14, 2009, and resistance at 0.8135, the high from January 22.
USD JPY
The dollar slid lower against the safe-haven yen on Friday as weakness in U.S. equities underpinned demand for the Japanese currency, while the broadly weaker euro fell to 16-month lows against the yen.USD/JPY was down 0.61% to 117.78 in late trade, not far from Wednesday’s lows of 117.17.U.S. stocks fell following soft corporate earnings, which sparked concerns over the potential impact of the stronger dollar.
GOLD
Gold edged lower on Friday, as a broadly stronger U.S. dollar prompted investors to book profits from a recent rally which took prices to the highest level in more than five months.On the Comex division of the New York Mercantile Exchange, gold futures for February delivery dipped $8.10, or 0.62%, to settle at $1,292.60 a troy ounce by close of trade on Friday.

Monday, January 26
In Germany, the Ifo research group is to publish its report on business climate.
Tuesday, January 27
The U.S. is to release data on durable goods orders, as well as private sector reports on consumer confidence and new home sales.
Wednesday, January 28
In the euro zone, the Gfk Institute is to report on German consumer climate.
The Federal Reserve is to announce its benchmark interest rate and publish its rate statement, which outlines economic conditions and the factors affecting the monetary policy decision.
Thursday, January 29
In the euro zone, Germany is to release preliminary data on consumer inflation and a report on the change in the number of people unemployed.
Later Thursday, the U.S. is to publish the weekly report on initial jobless claims as well as private sector data on pending home sales.
Friday, January 30
The euro zone is to release preliminary data on inflation as well as a report on the unemployment rate. Germany is to report on retail sales, while Spain is to release preliminary data on GDP growth and inflation.
The U.S. is to round up the week with preliminary data on fourth quarter growth as well as reports on business activity in the Chicago region and revised data on consumer sentiment.

http://www.commexfx.com/weekly-outlook-26-01-2015/

Re: Daily Market News By FXNET

PostPosted: Thu Jun 11, 2015 1:12 pm
by Froso@FXNET
DOLLAR REBOUNDS AGAINST JAPANESE YEN

The Japanese Yen rose against its U.S. counterpart on Wednesday following comments by Bank of Japan (BOJ) Governor Haruhiko Kuroda saying the yen is not likely to get weaker. By Thursday the U.S. dollar rebound against the yen.

The USD/JPY pair added 0.46 percent and reached 123.19.

The U.S. dollar had lost 1.3 percent on Wednesday, its biggest one day fall in six months. Investors supported the Yen after Kuroda spoke of how the yen’s current weakness means it will likely not fall any further.

The dollar also rose against the Euro with the EUR/USD pair falling to 1.1305.

The Euro enjoyed small gains on Wednesday as an agreement between Greece and its lenders was reported to be close, with EU Economic affairs commissioner Pierre Moscovici saying “I really like Greek tragedy but now we must move to a happy ending”. German Chancellor Angela Merkel was reported to be offering Greece a more lenient deal if they accepted specific reforms.

The AUD/USD added 0.21 percent on Thursday and reached 0.7793 as the Aussie was supported by positive data release.

The U.S. dollar index which measures the currency against 6 other major currencies added 0.22 percent and was at 94.79.

JAPANESE YEN LOWER AFTER A DAY’S HIKE By FXNET

PostPosted: Thu Jun 11, 2015 1:13 pm
by Froso@FXNET
JAPANESE YEN LOWER AFTER A DAY’S HIKE

On Thursday the Japanese yen fell lower than the U.S. dollar after having hiked considerably on Wednesday.

The Japanese Yen rose against its U.S. counterpart on Wednesday following comments by Bank of Japan (BOJ) Governor Haruhiko Kuroda saying the yen is not likely to get weaker.

“Most people might think that Kuroda would like to slow the dollar/yen’s moves, but I think it will go back to moving on fundamentals” said Masashi Murata, Currency Strategist at Brown Brothers Harriman.

Kuroda had also commented about the expected U.S. rate hike which he said is not bound to affect the Japanese Yen negatively.

“The Fed is getting ready to hike rates, and there is some chance the BOJ will ease further. So this monetary policy divergence should support the dollar/yen in the medium term, maybe this summer”.

The USD/JPY pair added 0.46 percent and reached 123.19.

The Yen was also lower than the Euro, and the EUR/JPY pair added 0.27 percent and traded at 139.31.

EURO ENJOYS SLIGHT GAIN BEFORE WEAKENING By FXNET

PostPosted: Thu Jun 11, 2015 1:14 pm
by Froso@FXNET
EURO ENJOYS SLIGHT GAIN BEFORE WEAKENING

During Wednesday’s trading the Euro enjoyed considerable gains as an agreement between Germany and Greece was reportedly very close and a cash-for-reform deal was on the horizon.

The EUR/USD pair gained 0.40 percent reaching 1.1324 on Wednesday and traded in the range of 1.1264 and 1.1386. It was expected to find support at 1.0913 and resistance at 1.1450.

By Thursday the U.S. dollar trumped both the yen and the euro and the EUR/USD pair was lower at 1.1305.

It is reported that German Chancellor Angela Merkel is offering the cash for reform deal if Greece agrees to at least one of the reforms including a higher imposition of taxes, issuance of lower retirement benefits and increased state asset sales.

In return the deal will offer Greece a 7.2 billion euro loan which can cover Greece’s loan payment to the International Monetary Fund (IMF) which is due on the 30th of June.

“I really like Greek tragedy but now we must move to a happy ending” EU Economic affairs commissioner Pierre Moscovici told RTL radio on Wednesday, giving hope that the end might be near, he added “we are close to the landing strip. There is political will, we can and must succeed”.

On Monday Moscovici met with Greek Finance Minister Yianis Varoufakis where the two were reported to have had a friendly conversation and were on the same page. Varoufakis said that they had “long, productive conversations”. He also added that responsibility falls on the shoulders of both Greece and its Eurozone lenders.

“These are difficult moments for the European Union and the Eurozone in particular. It is the duty of politicians to take their responsibility to a higher level in order to try to achieve an agreement that is absolutely essential” he said.

Elsewhere Greece’s negative impact on Europe’s currency has been balanced with economic growth in other parts of Europe.

Yesterday’s euro hike was supported by the release of reports showing an increase in percentage for Yields on German and Italian 10-year bunds. Germany being Europe’s largest economy has a big impact on the currency and can have a greater affect than Greece.

Re: Daily Market News By FXNET

PostPosted: Thu Jun 25, 2015 11:14 am
by Froso@FXNET
Daily Market News by FXNET 25/June

The Euro was majorly affected by Greece’s meeting with its creditors that ended in a rejection of the proposal due to differences. Greece is ever close to the June 30th deadline by which it has to reach a deal to unlock funds and repay the International Monetary Fund (IMF) loan to avoid defaulting on its debt.

The Euro lost 0.18 percent against the yen and the EUR/JPY pair fell from 138.76 (Late Wednesday’s number) to 138.50. Even against the Japanese Yen the Euro was weaker and the EUR/JPY pair fell from 138.76 (Late Wednesday’s number) to 138.50.

The U.S. dollar was slightly weaker than the Japanese yen the USD/JPY pair fell to 123.56.

Against the British pound the dollar was also stronger and the GBP/USD pair lost 0.11 percent and traded at 1.5716.

The USD/CHF pair lost 0.11 percent and fell to 1.5716, the AUD/USD lost 0.54 percent and was at 0.7695.

The U.S. dollar index which measures the greenback against a basket of six currencies was slightly higher at 95.53.
Brent Crude for August delivery added 2 cents and was at 63.51 dollars a barrel.

“For today we continue to expect prices to move sideways with a strong resistance at 61.80 dollars and 65 dollars for West Texas Intermediate (WTI) and Brent, and support 50 dollars and 62.38 dollars” said Phillip Futures in a note.

Gold futures for August delivery added 0.26 percent on the Comex of the New York Mercantile Exchange and were at 1,176.00 dollars a troy ounce during Thursday’s morning European Trading hours. It was expected to find support at 1,162.10 dollars and resistance at 1,200.80 dollars.

Elsewhere on the Comex silver futures for July lost 0.08 percent and were at 15.84 dollars a troy ounce and Copper for July delivery lost 0.27 percent and was at 2.618 dollars a pound.

MSCI’s index of Asia Pacific shares outside Japan lost 0.3 percent. Japan’s Nikkei Stock index lost 0.5 percent. On Wednesday optimist around the Greek situation had pushed the index close to its t 20 year high.

European shares were also dimmed with Britain’s FTSE 100 opening 11 to 12 points lower, Germany’s DAX was expected to lose 41 points and France’s CAC 40 to lose 19 points.

On Thursday the FTSEurofirst 300 lost 0.5 percent and was at 1,569.82 points, Hennes & Mauritz lost 2.2 percent.
Elsewhere U.S. stock futures were higher by 0.2 percent in Thursday’s early Asian trade.

Re: Daily Market News By FXNET

PostPosted: Wed Jul 22, 2015 8:51 am
by Froso@FXNET
Greek Prime Minister Alexis Tsipras is hoping to pass a second set of reforms required by the country’s lenders to kick start talks for another rescue package. Until Wednesday night the reforms must be accepted by the government but the bump in the way will be Tsipras’ anti-EU Syriza party who rebelled last week when the first set of reforms was passed, votes from pro-EU opposition parties including ‘To Potami’ and ‘Pasok’ who have both said they would support the prime minister helped the reforms pass.

The EUR/USD pair rose to its one week high. Adding 24 percent the pair reached 1.0960 and consolidated at 1.0962. It is expected to find support at 1.0853 and resistance at 1.1036.

The euro was lower than the British Pound, and the EUR/GBP pair lost 0.23 percent trading at 0.7016.

Against the yen the euro was higher with the EUR/JPY pair adding 0.37 percent to trade at 135.39.

The dollar index fell 0.7 percent from a three month high of 98.151 reached on Tuesday, down to 97.304 by Wednesday 05:30 GMT.

Against the yen the dollar was higher than its one month high, the USD/JPY pair reached 124.48 in morning trade, it consolidated at 124.22. The pair was expected to find support at 123.95 and resistance at 124.63.

The AUD/USD pair added 0.15 percent to trade at 0.7431.

The Australian dollar towered over its U.S. counterpart in trading as it was supported by high consumer price data and a positive economic survey.

A stronger dollar, big companies like OPEC maintaining high production and Iran’s close re-entry to the oil market have all been pushing oil prices lower.

West Texas Intermediary (WTI) for September delivery on the New York Mercantile Exchange lost 0.51 percent and traded at 50.60 dollars a barrel.

Brent Crude for September delivery on the Intercontinental Exchange (ICE) was at 56.34 dollars a barrel.
Gold for August delivery on the Comex of the New York Mercantile Exchange lost 0.99 percent and traded at 1.092.60 dollars a troy ounce.

Elsewhere on the Comex silver for September delivery lost 0.59 percent to trade at 14.698 dollars a troy ounce, while copper for September delivery lost 0.84 percent to trade at 2.455 dollars a pound.

Daily Market News By FXNET

PostPosted: Wed Aug 05, 2015 11:05 am
by Froso@FXNET
After rising on Tuesday, the euro was lower on Wednesday as Greece’s Syriza party urged for a new funding agreement and not a bridge loan.

The EUR/USD pair lost 0.13 percent to its lowest level since the 21st of July at 1.0866.

The bank sector share index FTATBNK in Athens’ Stock Exchange lost 14.8 percent in early deals on Tuesday. Athens bourse’s benchmark general index ATG traded 1.28 percent lower after losing 1.2 percent on Tuesday.

The U.S. dollar which saw some losses on Tuesday rallies against the euro on Wednesday following comments from Atlanta Fed President which supported a September rate hike.

The USD/JPY pair was little changed at 124.39. The AUD/USD pair lost 0.46 percent to 0.7345. The pair was expected to find support at 0.7261 and resistance at 0.7429.

The U.S. dollar index which measures the greenback against a basket of six major currencies hit its three and a half months high at 98.218 before settling at 98.096.

Later in the day U.S. ADP job reports for July and ISM service sector activity will be released.
The AUD/NZD pair lost 0.21 percent trading at 1.1263.

Brent oil for September delivery on the New York Mercantile Exchange added 1.06 percent to 50.52 dollars a barrel.
Crude oil for September delivery on the New York Mercantile Exchange added 0.97 percent and traded at 46.19 dollars a barrel during European morning hours.

Gold futures on the Comex of the New York Mercantile Exchange for September delivery tumbled 0.35 percent to 1,086.90 dollars a troy ounce during Wednesday’s morning European hours.

Silver on the Comex for September delivery lost 0.36 percent falling to 14.50 dollars a troy ounce while copper, which fell to its six year low earlier this week, lost 0.63 percent and traded at 2.347 dollars a pound.

Re: Daily Market News By FXNET

PostPosted: Wed Aug 12, 2015 1:08 pm
by Froso@FXNET
The Euro was higher reaching its two week high after the People’s Bank of China (PBOC) further devalued its yuan making the currency 4 percent lower in two days.
The EUR/USD added 0.67 percent to 1.1115, its highest level since the 27th of July, The EUR/CNY added 2.5 percent to 7.15.
All currencies were affected by the change; the USD/JPY lost 0.52 percent to 124.45, AUD/USD lost 0.53 percent to 0.7266 and NZD/USD lost 0.14 percent to 0.6526.
Elsewhere the International Energy Agency’s (IEA) monthly report showed that its demand growth outlook for 2016 is much higher with expectations for OPEC to lower it supply growth.
U.S. crude fell below the 50 dollar benchmark at 42.99 dollars per barrel while Brent futures were down to 48.92 dollars per barrel.
Gold futures for December delivery added 0.96 percent on the Comex of the New York Mercantile Exchange and traded at 1,118.30 dollars a troy ounce.
Copper prices fell 1.05 percent to 2.307 dollars a pound. Silver futures for September delivery on the Comex of the New York Mercantile Exchange lost 1.05 percent to 2.307 dollars a pound during morning European trading hours.