Monthly Archives: August 2018

GBP/USD jumps to new 12-day high near 1.2890 amid broad-based USD weakness

By | August 21, 2018

The market shows a limited reaction to comments from Barnier and Raab. US Dollar Index extends losses in the NA session. Dallas Fed’s Kaplan voices his support for gradual rate hikes. Following the joint press conference by Dominic Raab, British Secretary of State, and Michel Barnier, European Commission Chief Negotiator for Article 50 Negotiations with the… Read More »

AUD/USD Technical Analysis: Relentless bulls lift AUD/USD to daily highs – Targeting 0.7400 figure

By | August 21, 2018

AUD/USD main bearish trend is currently in a bullish pullback for the fifth day in a row. AUD/USD is trading in a bull channel with the 100 and 200-period simple moving averages sloping upward suggesting bullish momentum. After reaching 0.7345 target bulls objective is to now keep the market above 0.7364 resistance in order to… Read More »

USD/JPY: watching the LDP leadership election on 20 September – Nomura

By | August 21, 2018

Analysts at Nomura noted that the LDP has officially announced that it will hold its leadership election on 20 September.  Key Quotes: “The election essentially determines the Japanese Prime Minister and thus, the outcome influences Japan’s economic policy stance for the next three years.” “PM Abe’s victory looks the most likely outcome, as the cabinet’s… Read More »

GBP/USD: seeing upside potential towards 1.29 – Scotiabank

By | August 21, 2018

Analysts at Scotiabank explained that cable looks well-supported, thanks mainly to a weaker USD.  Key quotes: “We remain concerned that Brexit risks will weigh on the GBP outlook through the fall.” “GBP/USD short-term technicals: neutral/bullish – Sterling has benefitted from steady accumulation from around the 1.27 area over the last 24 hours or so, suggesting… Read More »

Fed’s Kaplan: Central bank has met goals, should raise interest rates gradually to neutral level

By | August 21, 2018

Below are key takeaways, via Reuters, from the recently published essay by the Dallas Fed President Robert Kaplan. U.S. Central bank has met goals, should raise interest rates gradually to neutral level. Sees three to four more rate hikes before neutral level reached. Once rates reach neutral he’d be inclined to ‘step back and assess’… Read More »