Tag Archives: through

Gold Snaps 6-Week Losing Streak As NFPs Fuel Bets for 2015 Rate Hike

DailyFX.com –

Gold Snaps 6-Week Losing Streak As NFPs Fuel Bets for 2015 Rate HikeGold Snaps 6-Week Losing Streak As NFPs Fuel Bets for 2015 Rate Hike

Fundamental Forecast for Gold:Neutral

Gold prices snapped a six-week losing streak on Friday with the precious metal rallying 2.55% to trade at 1084 ahead of the New York close. The advance comes on the back of strong US employment data with a breakdown in the greenback also helping supporting the beaten down metal. read more

Gold Holds Range Despite Fed Rate Hike- Shorts at Risk Above 1047

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Gold Holds Range Despite Fed Rate Hike- Shorts at Risk Above 1047Gold Holds Range Despite Fed Rate Hike- Shorts at Risk Above 1047

Fundamental Forecast for the Yuan: Neutral

Gold prices are down for the second consecutive week with the precious metal off by 0.84% to trade at 1065 ahead of the New York close on Friday. A historic week saw the Federal Reserve move to the raise the benchmark interest rate for the first time since 2006, fueling a rally in the USDOLLAR which tested the 2015 close high on the heels of the release. Gold saw the largest single day drop in five months on Thursday but pared a bulk of the declines into the close of the week. read more

USD/JPY Risks Larger Pullback on Dismal US GDP, Sticky Japan CPI

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USD/JPY Risks Larger Pullback on Dismal US GDP, Sticky Japan CPIUSD/JPY Risks Larger Pullback on Dismal US GDP, Sticky Japan CPI

Fundamental Forecast for Yen:Neutral

Despite the 2015 Fed liftoff, USD/JPY stands at risk of facing range-bound prices in the week ahead as the final U.S. 3Q Gross Domestic Product (GDP) report is anticipated to show a downward revision in the growth rate, while the Bank of Japan (BoJ) largely endorses a wait-and-see approach for 2016. read more

The Sterling Lining Presents a Glimmer of Hope after Dollar, Yen Drubbings

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The Sterling Lining Presents a Glimmer of Hope after Dollar, Yen DrubbingsThe Sterling Lining Presents a Glimmer of Hope after Dollar, Yen Drubbings

Fundamental Forecast for British Pound: Neutral

Data this week, on net, was pretty much a positive for the UK and the British Pound. Employment data came in above line on Tuesday, Retail Sales beat expectations by a wide margin on Thursday and even monthly CPI, the boogeyman around the topic of rate hikes out of the UK, came in better than what analysts were looking for. But none of that mattered: The Sterling got crushed against both the US Dollar and Japanese Yen after each Central Bank started what looks to be the long and arduous road of removing ‘emergency-like’ accommodation from the global economy. GBP is currently off by over 320 pips against both USD and JPY, and if anything, this should highlight which drivers should take precedence in this ZIRP-fueled, ‘normalizing’ global economy. These themes are likely going to continue for a while, somewhat of a return of the ‘risk on/off,’ trades from years past, as the Federal Reserve is looking at a whopping four rate hikes in the calendar year of 2016. This is quite a distance away from the two rate hikes that the street is looking for, so expect volatility around risk trends to continue. read more

Australian Dollar May Drop as Fed Rate Hike Sinks Risk Appetite

DailyFX.com –

Australian Dollar May Drop as Fed Rate Hike Sinks Risk AppetiteAustralian Dollar May Drop as Fed Rate Hike Sinks Risk Appetite

Fundamental Forecast for the Australian Dollar: Bearish

  • Australian Dollar Looks to Fed Policy Announcement for Guidance
  • Risk Aversion After FOMC Rate Hike May Drive Aussie Downward
  • Find Key Turning Points for the Australian Dollar with DailyFX SSI

The Federal Reserve monetary policy announcement is firmly in focus for the Australian Dollar in the week ahead. Chair Janet Yellen and company are widely expected to deliver the first post-QE interest rate hike, nudging the target range for the benchmark lending rate higher by 25 basis points into the 0.25-0.50 percent territory. read more

Bets of a BoC Rate Cut Rise As Oil Settles The Week Below $30

DailyFX.com –

Bets of a BoC Rate Cut Rise As Oil Settles The Week Below $30Bets of a BoC Rate Cut Rise As Oil Settles The Week Below $30

Fundamental Forecast for CAD: Bearish

A Bank of Canada rate cut is now the preferred bet as the Loonie seems in near free-fall. Against the JPY, the Canadian Dollar is off over 8% and is among the weakest currencies within the G10 as Chinese economic data continues to discourage risk sentiment and oversupply in Oil continues to push down the price of Oil to 12-year lows. All of this pressure amounts toward the Bank of Canada potentially easing again like they did last January. read more