GBPUSD Pound Jumps to 1.25, Markets Eye Autumn

FOREX INVESTORS BUZZ GBPUSD Weekly Outlook July 16

FOREX INVESTORS BUZZ GBPUSD Weekly Outlook July 16

FOREX INVESTORS BUZZ GBPUSD Weekly Outlook July 16 GBP/USD’s pull back from 1.3029 completed at 1.2811 last week and subsequent strong rally confirmed resumption of larger rise from 1.1946. Initial bias is now on the upside this week for 61.8% projection of 1.2108 to 1.3047 from 1.2588 at 1.3168 next. We’ll be cautious on strong resistance from there to limit upside. But firm break of 1.3168 will bring further rise towards 1.3444 key resistance. On the downside, below 1.2999 minor support will turn intraday bias neutral first.

In the bigger picture, overall, price actions from 1.1946 medium term low are seen as a corrective pattern that is still in progress. While further upside is expected, overall outlook remains bearish as long as 1.3444 key resistance holds. Larger down trend from 1.7190 is expected to resume later after the correction completes. And break of 1.2588 will indicate that such down trend is resuming.



GBPUSD Weekly Outlook July 16

 

In the longer term picture, no change in the view that down trend from 2.1161 is still in progress. On resumption, such decline would extend deeper to 100% projection of 2.1161 to 1.3503 from 1.7190 at 0.9532. However, firm break of 1.3444 should confirm reversal and turn outlook bullish.

Like up on FACEBOOK


logo



major currencies: (EUR-USD) (USD-JPY) (USD-GBP) (USD-CHF), (USD-CAD), (AUD-USD) (USDCNY)



USDJPY Yen Steady Ahead of US Housing, Manufacturing Reports

FOREX INVESTORS BUZZ USDJPY Weekly Outlook July 16

FOREX INVESTORS BUZZ USDJPY Weekly Outlook July 16

FOREX INVESTORS BUZZ USDJPY Weekly Outlook July 16  USDJPY edged higher to 114.49 last week but failed to sustain above 114.36 resistance and reversed. The rejection from 114.49 argues that rise from 108.81 is completed. And, the whole correction from 118.65 is possibly still in progress. Initial bias stays on the downside this week for 55 day EMA (now at 112.01). Sustained break will pave the way to 108.12 and below. On the upside, above 113.57 minor resistance will turn focus back to 114.49 resistance instead.

In the bigger picture, the corrective structure of the fall from 118.65 suggests that rise from 98.97 is not completed yet. Break of 118.65 will target a test on 125.85 high. At this point, it’s uncertain whether rise from 98.97 is resuming the long term up trend from 75.56, or it’s a leg in the consolidation from 125.85. Hence, we’ll be cautious on topping as it approaches 125.85. If fall from 118.65 extends lower, down side should be contained by 61.8% retracement of 98.97 to 118.65 at 106.48 and bring rebound.



USDJPY Weekly Outlook July 16

 

In the long term picture, the rise from 75.56 long term bottom to 125.85 top is viewed as an impulsive move. Price actions from 125.85 are seen as a corrective move which could still extend. But, up trend from 75.56 is expected to resume at a later stage for above 135.20/147.68 resistance zone.Like up on FACEBOOK


logo



major currencies: (EUR-USD) (USD-JPY) (USD-GBP) (USD-CHF), (USD-CAD), (AUD-USD) (USDCNY)



USDCHF Clawing Back Following Monday’s Break

FOREX INVESTORS BUZZ USDCHF Weekly Outlook

FOREX INVESTORS BUZZ USDCHF Weekly Outlook


source: tradingeconomics.com
FOREX INVESTORS BUZZ USDCHF Weekly Outlook USD/CHF stayed in the consolidation pattern from 0.9551 last week and outlook is unchanged. Initial bias remains neutral this week first. IN case of another rise, upside should be limited by 0.9770 resistance and bring fall resumption. Below 0.9595 minor support will turn bias to the downside. Break of 0.9551 will extend the whole fall from 1.0342 and target 0.9443 key support level next. At this point, we’d expect strong support from there to bring rebound. Meanwhile, firm break of 0.9770 will indicate near term reversal, on bullish convergence condition in 4 hour MACD.



USDCHF Weekly Outlook

 

In the bigger picture, USD/CHF is still bounded in medium term range of 0.9443/1.0342 for the moment. Consolidative trading would likely continue and medium term outlook remains neutral. Break of 1.0342 key resistance is needed to confirm underlying bullish momentum in the pair. Meanwhile, downside attempts should be contained by 0.9443 key support level. However, sustained break of 0.9443 will carry larger bearish implication and target 0.9 handle.

Like up on FACEBOOK


logo



major currencies: (EUR-USD) (USD-JPY) (USD-GBP) (USD-CHF), (USD-CAD), (AUD-USD) (USDCNY)



USDCAD Trump Shock Pushes Canadian Dollar Down

FOREX INVESTORS BUZZ USDCAD Weekly Outlook

FOREX INVESTORS BUZZ USDCAD Weekly Outlook

FOREX INVESTORS BUZZ USDCAD Weekly Outlook USD/CAD’s fall from 1.3793 extended last week to as low as 1.2638. Break of near term falling channel showed further downside acceleration. Initial bias remains on the downside this week for 1.2460 low next. On the upside, above 1.2770 minor resistance will turn bias neutral and bring consolidation before staging another decline.

In the bigger picture, price actions from 1.4689 medium term top are seen as a correction pattern. Fall from 1.3793 is seen as the third leg and should target 50% retracement of 0.9406 to 1.4869 at 1.2048. At this point, we’d look for strong support from there to contain downside and bring rebound. However, firm break there will target 100% projection of 1.4689 to 1.2460 from 1.3793 at 1.1564.



USDCAD Weekly Outlook

 

In the longer term picture, rise from 0.9056 (2007 low) is viewed as a long term up trend. It’s taking a breath after hitting 1.4689. But such rise expected to resume later to test 1.6196 down the road. But firm break of 50% retracement of 0.9406 to 1.4869 at 1.2048 will raise doubt over this view.

Like up on FACEBOOK


logo



major currencies: (EUR-USD) (USD-JPY) (USD-GBP) (USD-CHF), (USD-CAD), (AUD-USD) (USDCNY)



AUDUSD flirting with 2-month lows

FOREX INVESTORS BUZZ AUDUSD Weekly Outlook

FOREX INVESTORS BUZZ AUDUSD Weekly Outlook

FOREX INVESTORS BUZZ  AUDUSD surged to as high as 0.7833 last week as rise from 0.7328 extended. The upside acceleration argues that it’s resuming larger rebound from 0.6826 bottom. Initial bias remains on the upside this week. Firm break of 0.7833 resistance will confirm this bullish case and target 61.8% projection of 0.6826 to 0.7833 from 0.7328 at 0.7950 next. On the downside, below 0.7739 minor support will turn intraday bias neutral first. But near term outlook will stay cautiously bullish as long as 0.7570 support holds.

In the bigger picture, current development suggests that rebound from 0.6826 is developing into a medium term rise. There is no confirmation of trend reversal yet and we’ll continue to treat such rebound as a corrective pattern. But in any case, further rise is now expected to 55 month EMA (now at 0.8100) or even further to 38.2% retracement of 1.1079 to 0.6826 at 0.8451. Break of 0.7328 support is needed to confirm completion of the rebound. Otherwise, further rise is now in favor.



AUDUSD

 

In the longer term picture, 0.6826 is seen as a long term bottom. Rise from there could either reverse the down trend from 1.1079, or just develop into a corrective pattern. At this point, we’re favoring the latter. And, as long as 38.2% retracement of 1.1079 to 0.6826 at 0.8451 holds, we’d anticipate another decline through 0.6826 at a later stage.

Like up on FACEBOOK


logo



major currencies: (EUR-USD) (USD-JPY) (USD-GBP) (USD-CHF), (USD-CAD), (AUD-USD) (USDCNY)



Buz Investors EURUSD Marginally Higher A very light economic calendar and some easing political concerns are resulting in a modest gain in EUR/USD in today’s trading. The pair is currently at 1.0619, up 0.10% over Friday’s close.

FOREX INVESTORS BUZZ EURUSD Weekly Outlook

FOREX INVESTORS BUZZ EURUSD Weekly Outlook

FOREX INVESTORS BUZZ Weekly Outlook  EURUSD edged higher to 1.1489 last week but retreated since then. Initial bias stays neutral this week and more consolidation could be seen. But Break of 1.1312 will bring deeper fall to 55 day EMA (now at 1.1192). In that case, downside should be contained by 1.1118 support to bring rise resumption. On the upside, break of 1.1489 will extend recent rally from 1.0339 to 1.1615 key resistance next.

In the bigger picture, the firm break of 1.1298 resistance further affirm medium term reversal. That is, an important bottom was formed at 1.0339 on bullish convergence condition in weekly MACD. Further rise would be seen to 55 month EMA (now at 1.1763). Sustained break there will pave the way to 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516 next. This will now remain the favored case as long as 1.1118 support holds.



Weekly Outlook

 

In the long term picture, 1.0339 is now seen as an important bottom as the down trend from 1.6039 (2008 high) could have completed. It’s still early to decide whether price action form 1.0339 is developing into a corrective or impulsive move. But in either case, further rally would be seen to 38.2% retracement of 1.6039 to 1.0339 at 1.2516

Like up on FACEBOOK


logo



major currencies: (EUR-USD) (USD-JPY) (USD-GBP) (USD-CHF), (USD-CAD), (AUD-USD) (USDCNY)



Prices of both Ethereum and Bitcoin slumped on Tuesday amid investor fears that both cryptocurrencies were poised for steeper declines.

ETHEREUM AND BITCOIN ON TRACK FOR WEEKLY LOSS

ETHEREUM AND BITCOIN ON TRACK FOR WEEKLY LOSS

 The sell-off in both Bitcoin and Ethereum continued Friday, as investors appeared reluctant to take advantage of the dip in both cryptocurrencies

FOREX INVESTORS BUZZ     The sell-off in both Bitcoin and Ethereum continued Friday, as investors appeared reluctant to take advantage of the dip in both cryptocurrencies amid bearish sentiment.

On the U.S.-based GDAX exchange, BTC/USD fell to $2199.4, down $128.1.6 or 5.51%.

Bitcoin dipped below $2,200 for the first time in nearly four weeks, after analysts poured cold water on the future prospect of the digital currency amid a lack of demand from merchants willing to accept bitcoin as a form of payment.



Bitcoin and Ethereum

 

“Bitcoin owners are reluctant to use the cryptocurrency given its rate of appreciation,” analysts at Morgan Stately wrote in report. “Bitcoin acceptance is virtually zero and shrinking,”

Ethereum followed Bitcoin lower, falling to 195.40, down 6.21%. The second best capitalized digital currency remained on track to post a fourth-straight weekly loss.

|Chart | Calendar   | TRADE NOW | FORCAST | cryptocurrency 

Market Quotes by TradingView

Like up on FACEBOOK


logo



Gold prices edged lower on Friday, still weighed by the previous session’s upbeat U.S. economic growth data, although hawkish

GOLD / SILVER / COPPER FUTURES – WEEKLY OUTLOOK: JULY 10 – 14

GOLD / SILVER / COPPER FUTURES – WEEKLY OUTLOOK: JULY 10 – 14

GOLD / SILVER / COPPER  Gold prices dropped to almost four-month lows on Friday

FOREX INVESTORS GOLD / SILVER / COPPER  Gold prices dropped to almost four-month lows on Friday after a stronger-than-forecast U.S. jobs report boosted the dollar against a basket of the other major currencies.

Gold futures for August delivery ended down 0.93% at $1,211.98 on the Comex division of the New York Mercantile Exchange. It was the lowest close since March 15.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.21% to 95.78 late Friday.

Gold and the dollar typically move in opposite directions, which means if the dollar goes down, gold futures, which are denominated in the U.S. currency, will rise.

The U.S. economy added 222,000 jobs last month the Labor Department reported, more than the 179,000 new jobs expected by economists.

Figures for April and May were also revised to show that 47,000 more jobs were created than previously reported.

The unemployment rate ticked up to 4.4% from a 16-year low of 4.3% in May, as more people looked for work, a sign of confidence in the labor market.

The rapid pace of jobs growth reassured investors that the economy is on a strong enough footing to justify the Federal Reserve’s plans to raise interest rates once more this year.

The Fed hiked rates at its June meeting and stuck to its forecast for one more rate hike this year, but the subdued inflation outlook has raised doubts over whether officials will be able to stick to their planned tightening path.



GOLD / SILVER / COPPER

 

Gold is highly sensitive to rising rates, which lift the opportunity cost of holding non-yielding assets such as bullion, while boosting the dollar.

Elsewhere in precious metals trading, silver futures fell 2.49% to $15.58 a troy ounce late Friday, its lowest close since April 1 2016.

The steep losses came after silver plunged almost 10% in a flash-crash late Thursday before reversing most of that decline.

Copper was down 0.39% to $2.651 a pound, platinum eased 0.14% to $909.00 and palladium rose 0.57% to $836.98 an ounce.

In the week ahead, investors will be focusing on Fed Chair Janet Yellen’s testimony on monetary policy as well as U.S. data on inflation and retail sales, due out on Friday.

The latest UK jobs report and the Bank of Canada’s meeting, both set for Wednesday, will also be closely watched.

Ahead of the coming week, Investing.com has compiled a list of these and other significant events likely to affect the markets.

Monday, July 10

China is to release data on consumer and producer price inflation.

In the euro zone, Germany is to report on its trade balance.

Tuesday, July 11

Australia is to release private sector data on business confidence.

Bank of England Deputy Governor Ben Broadbent is to speak at an event in Scotland.

Canada is to publish data on housing starts.

In the U.S., Fed Governor Lael Brainard is to speak at an event in New York.

Wednesday, July 12

The UK is to publish its monthly employment report.

The Bank of Canada is to announce its benchmark interest rate and publish a rate statement which outlines economic conditions and the factors affecting the monetary policy decision. The bank will also hold a press conference.

Fed Chair Janet Yellen is to testify on the monetary policy report before the House Financial Services Committee, in Washington.

Thursday, July 13

China is to publish data on the trade balance.

The U.S. is to release data on producer prices and jobless claims.

Janet Yellen is to testify on the monetary policy report before the Senate Banking Committee, in Washington.

Chicago Fed President Charles Evans is to speak at an event in Idaho, while Fed Governor Lael Brainard is due to speak at an event in Massachusetts.

Friday, July 14

The U.S. is to round up the week with a raft of economic reports including figures on inflation, retail sales, industrial production and consumer sentiment.

Dallas Fed President Robert Kaplan is to speak at an event in Mexico City.

Like up on FACEBOOK


logo



COMMODITIES: (CRUDE OIL) (SILVER) (GOLD)



NATURAL GAS FUTURES RISE  U.S. natural gas futures rose to a fresh four-week high on Thursday, extending gains into a fifth session

US NATURAL GAS FUTURES RISE TO 4-WEEK HIGH AFTER WEEKLY STORAGE DATA

US NATURAL GAS FUTURES RISE TO 4-WEEK HIGH AFTER WEEKLY STORAGE DATA

 NATURAL GAS FUTURES RISE  U.S. natural gas futures rose to a fresh four-week high on Thursday, extending gains into a fifth session

BUZ INVESTORS   NATURAL GAS FUTURES RISE  U.S. natural gas futures rose to a fresh four-week high on Thursday, extending gains into a fifth session after data showed that domestic supplies in storage rose less than anticipated last week.

U.S. natural gas for August delivery was at $3.117 per million British thermal units by 10:33AM ET (1433GMT), up 2.4 cents, or around 0.8%. Futures were at around $3.075 prior to the release of the supply data.

Natural gas edged higher on Tuesday to notch its fourth wining session in a row on Wednesday.

The U.S. Energy Information Administration said in its weekly report that natural gas storage in the U.S. rose by 46 billion cubic feet in the week ended June 23, below forecasts for a build of 52 billion.




NATURAL GAS FUTURES

 

That compared with a gain of 61 billion cubic feet in the preceding week, an increase of 37 billion a year earlier and a five-year average rise of 72 billion cubic feet.

Total natural gas in storage currently stands at 2.816 trillion cubic feet, according to the U.S. Energy Information Administration, 10.2% lower than levels at this time a year ago but 6.4% above the five-year average for this time of year.

Meanwhile, updated weather forecasting models continued to point to increased summer demand in the weeks ahead.

Natural gas prices have closely tracked weather forecasts in recent weeks, as traders try to gauge the impact of shifting outlooks on summer heating demand.

Gas use typically hits a seasonal low with spring’s mild temperatures, before warmer weather increases demand for gas-fired electricity generation to power air conditioning.

Nearly 50% of all U.S. households use gas for heating.

Like up on FACEBOOK


logo



COMMODITIES: (CRUDE OIL) (SILVER) (GOLD)