FTUKcom

FTUKcom

The Dollar remains on track to record net and widespread gains, but it’s been far from one-way traffic or straight forward as the DXY has whip-sawed within a 90.762-89.922 range through mostly disappointing US data, mainly dovish Fed rhetoric and President-elect Biden’s fiscal stimulus plan that was pretty much as expected. Meanwhile, broad risk sentiment has...

FTUKcom Updated 

Weak jobless claims data, with the weekly tally rising to just shy of the 1 mn mark and the continuing count rebounding to 5.25+ mn, may well prompt more massaging of taper timing expectations from the Fed chair, while conformation of bumper stimulus from the incoming President could also sap more strength from the Greenback on deficit and broad risk sentiment...

FTUKcom Updated 

All retaining gains vs their US counterpart, as the Greenback fades and Aussie eyes an extension of its post-Chinese trade data gains beyond 0.7750. Possible rest bite and support incoming for AUD/USD over the next trading week! All Fibonacci D extensions have been met. Time for a buyers stop hunt...

FTUKcom

The Yen and Franc continue to take leads from Dollar moves over and above the general market mood, outperformance against the Euro aside, with the former back above 104.00 and the latter paring losses from sub-0.8900. No real independent drivers for the Chf on the horizon, but the Jpy has Japan’s latest tertiary industrial index to look out for tomorrow and a...

FTUKcom Updated 

The Yen has been underperforming for the most part, but is now in danger of a more pronounced reversal towards 103.50 vs 102.60 or so at the other extreme, while the Franc has recoiled back through 0.8800 and Loonie is losing touch with buoyant oil prices due to the scale of its US counterpart’s revival to trade nearer 1.2720 than 1.2630 peaks in the run up to...

FTUKcom

EUR was weighed on by the stronger buck, succumbing to further pressure as political risk in Italy has grown after Renzi’s ministers resigned, although the downside was relatively brief and it is unlikely snap-elections will be held. ECB President Lagarde reiterated the ECB carefully monitors FX and FX movements but do not target it, adding the ECB will be...

09:12

FTUKcom

Sterling is still displaying a degree of resilience on BoE rate recalibration grounds due to Governor Bailey’s NIRP push-back yesterday, but also on a slightly more positive note from UK PM Johnson who claims to see signs that national lockdown is stemming the pandemic spread. Cable has rejected 1.3700 again, but bounced from sub-1.3650 lows after a temporary...

08:42

FTUKcom

Self explanatory. Gold price faces solid resistance at 1863.80, to trade with clear negativity and heads towards potential test to the key support 1838.10, and as long as the price is above this level, our bullish overview will remain valid for today, and the price needs to surpass the mentioned resistance to get strong positive motive that assists to push the...

FTUKcom

The Yen hovers under 104.00 also eyeing expiry interest at the strike (1.2 bn). Elsewhere, the Franc is straddling 0.8900 amidst a lack of independent impulses and this prone to Dollar moves and overall risk considerations. Reading simple price action and viewing the recent pound strength, we can now look to capitalise on some GBP/JPY profits. This pair is...

FTUKcom Updated 

The non-Dollar G10s have largely been at the whim of their US peer, with intermittent diversions and deviations, as the POUND kicked off 2021 on a firm footing after the UK and EU managed to pull a Brexit deal out of the bag just before the New Year’s Eve transition deadline. Cable peaked just over 1.3700 and Eur/Gbp troughed around 0.8945, but it’s been a case of...

FTUKcom Updated 

Loonie languishes below 1.2800 irrespective of the BoC’s business outlook returning to positive territory for the first time since the pandemic started in Q4. The Dollar continues to rebound as shorts are squeezed and yields ratchet higher again to the detriment of high betas and risk assets, with the index now forming a base above 90.500 to target more pre-Xmas...

FTUKcom

It’s too early to call time on the Greenback revival, but Tuesday is shaping up to be one of those testing, if not make or break sessions as buyers continue to draw encouragement from rising yields and sellers seem more inclined to trade along risk appetite and aversion lines. To recap, the Dollar extended recovery gains broadly yesterday to the point where the...

FTUKcom

The major beneficiary of the waning Buck as Cable retests 1.3600 from almost the big figure below at one stage, but the Pound has also rebounded in relation to the Euro from circa 0.9000 to 0.8950+ at best in wake of remarks from BoE Governor Bailey highlighting plenty of ‘issues’ on the controversial subject of NIRP, adding that it is too soon to determine...

07:15

FTUKcom Updated 

Gold has taken market control along with other currency alternatives heading into 2021. It has surged above $1,940 an ounce to the highest in almost two months as lower U.S. real yields and a weaker dollar helped the metal build on its biggest annual advance in a decade. All of this growth and fundamental optimism is likely to spur on pressure to reattempt a new...

FTUKcom Updated 

The Pound continues to lose its Brexit boost as lockdown bites and the battle against rising cases/deaths due to the new 'virus variant' mounts awaiting more widespread vaccinations, with Cable striving to maintain sight of 1.3550 and Eur/Gbp pivoting 0.9050. Pound strength is prevailing month on month and I have marked in the zone region in which I am looking for...

FTUKcom

Plain and simple technical analysis on this one. Aussie gleaned some support earlier in the week however the overall movement is controlling the the accurate destination targets long term. Which is set at 1.7200. Looking into next week, we should see moves heading south once again off the daily/weekly bearish moving averages.

FTUKcom

All pairs seem narrowly mixed vs their US counterpart having weathered an early EU storm. The USD/CAD has rebounded quite firmly from sub-1.2730 levels in the run up to the Canadian-US jobs showdown and the Yen is paring declines from just under 104.00.Overall I am still anticipating shorts down further into new lows which could be met by the end of today in...

FTUKcom

The Euro pulls back further from Wednesday’s 1.2350 apex following another approach, the Loonie recoils from 1.2650+ to sub-1.2700 post-Canadian trade data and the launch of a dispute settlement process against its NA neighbour over tariffs on solar products that it deems to be unwarranted. It may be too premature to draw firm conclusions or make assumptions, but...