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EUR/JPY Technical Analysis: Rising bets for a visit to 120.80

on 18 July 2019, in News
The cross is extending the leg lower on the back of the pick up in the demand for the safe haven JPY and is now putting the 121.00 handle to the test. EUR/JPY continues to grind lower and is expected to re-test June low in the 120.80 region ahead of YTD lows in the sub-119.00
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Australia: Business conditions eased – TDS

on 18 July 2019, in News
 Analysts at TD Securities suggest that while Australian Business Confidence jumped from 0 to 6 in NAB’s Q2 Business survey, possibly reflecting the election outcome and rate cut optimism, business conditions eased in the quarter (from 4 to 1) with trading, profitability and employment all declining. Key Quotes “There was little to suggest an improvement
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UK PM candidate Hunt: No-deal Brexit would be a political, not economic decision

on 18 July 2019, in News
The UK PM candidate, Jeremy Hunt was out with some comments in the last hour saying that a no-deal Brexit would be a political, not economic decision. Additional quotes:    •  We are much better prepared for a no-deal Brexit than we were before.    •  The EU has never believed that a no-deal Brexit
Read More

Gold technical analysis: Dip-buying to limit any further slide near the recent trading range resistance breakpoint

on 18 July 2019, in News
Gold failed to capitalize on the previous session’s strong up-move and started retreating from over two-week tops, touched earlier during the Asian session on Thursday. Given the overnight bullish breakthrough a one-week-old trading range and the highest daily close since 2013, the set-up might have already turned in favour of bullish traders. With technical indicators
Read More

EUR/USD keeps gains near 1.1240 on USD-weakness

on 18 July 2019, in News
EUR/USD adds to Wednesday’s gains near 1.1250. The greenbacks remains on the defensive on declining yields. Markets’ attention is back to US-China trade. The single currency is extending the upbeat momentum today and is now taking EUR/USD to the 1.1240/45 band. EUR/USD up on trade jitters, USD-selling Spot gained extra steam yesterday on the back
Read More

USD/IDR: Rupiah strengthens despite Bank Indonesia’s rate cut

on 18 July 2019, in News
At its July monetary policy meeting on Thursday, Indonesia’s central bank, Bank Indonesia (BI), slashed its 7-day reverse repo rate by 25bps to 5.75%, as widely expected. The latest Reuters poll showed that 23 of 33 analysts predicted BI will make a 25-basis point trim in the benchmark 7-day reverse repo rate to 5.75% –
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Indonesia Bank Indonesia Rate meets forecasts (5.75%) in July

on 18 July 2019, in News
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Investors turn bullish on Indonesian Rupiah for first time in 3 months – Reuters poll

on 18 July 2019, in News
According to the latest Reuters poll, investors turned bullish on the Indonesian Rupiah for the first time in nearly three months amid Fed rate cut bets induced ongoing broad USD weakness. Key Findings: “An average of 14 analysts were bullish on the Indonesian rupiah even as the country’s central bank is expected to go on
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UK’s Lidington: EU suggested to UK to put Brexit ‘on ice’ for five years

on 18 July 2019, in News
The UK Cabinet Office Minister David Lidington was out on the wires in the last hour, noting that the EU suggested to UK to put Brexit ‘on ice’ for five years.
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US: Positive outlook for the coming months – Danske Bank

on 18 July 2019, in News
Kristoffer Kjær Lomholt, senior analyst at Danske Bank, notes that the Fed Beige Book – based on anecdotal information from the regional Feds up until 8 July – released yesterday painted a ‘positive’ outlook for the coming months ‘with expectations of continued modest growth, despite widespread concerns about the possible negative impact of trade-related uncertainty’.
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AUD/USD jumps back closer to weekly tops, just below mid-0.7000s

on 18 July 2019, in News
Upbeat Aussie full-time jobs growth data helped regain traction on Thursday. The USD weighed down by sliding US bond yields and remained supportive. US-China trade tensions might keep a lid on any strong follow-through up-move The AUD/USD pair built on strong intraday positive momentum and is currently placed near the top end of its weekly
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UK: Retail sales in focus – TDS

on 18 July 2019, in News
In view of TD Securities analysis team, there doesn’t seem to be much going for UK retail sales for the month of June. Key Quotes “With poor weather for most of the month, and after seeing the services PMI fall to the break-even level of 50, we’re looking for a third straight monthly decline with
Read More

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EUR/JPY Technical Analysis: Rising bets for a visit to 120.80

on 18 July 2019, in News
The cross is extending the leg lower on the back of the pick up in the demand for the safe haven JPY and is now putting the 121.00 handle to the test. EUR/JPY continues to grind lower and is expected to re-test June low in the 120.80 region ahead of YTD lows in the sub-119.00
Read More

Australia: Business conditions eased – TDS

on 18 July 2019, in News
 Analysts at TD Securities suggest that while Australian Business Confidence jumped from 0 to 6 in NAB’s Q2 Business survey, possibly reflecting the election outcome and rate cut optimism, business conditions eased in the quarter (from 4 to 1) with trading, profitability and employment all declining. Key Quotes “There was little to suggest an improvement
Read More

UK PM candidate Hunt: No-deal Brexit would be a political, not economic decision

on 18 July 2019, in News
The UK PM candidate, Jeremy Hunt was out with some comments in the last hour saying that a no-deal Brexit would be a political, not economic decision. Additional quotes:    •  We are much better prepared for a no-deal Brexit than we were before.    •  The EU has never believed that a no-deal Brexit
Read More

Gold technical analysis: Dip-buying to limit any further slide near the recent trading range resistance breakpoint

on 18 July 2019, in News
Gold failed to capitalize on the previous session’s strong up-move and started retreating from over two-week tops, touched earlier during the Asian session on Thursday. Given the overnight bullish breakthrough a one-week-old trading range and the highest daily close since 2013, the set-up might have already turned in favour of bullish traders. With technical indicators
Read More

EUR/USD keeps gains near 1.1240 on USD-weakness

on 18 July 2019, in News
EUR/USD adds to Wednesday’s gains near 1.1250. The greenbacks remains on the defensive on declining yields. Markets’ attention is back to US-China trade. The single currency is extending the upbeat momentum today and is now taking EUR/USD to the 1.1240/45 band. EUR/USD up on trade jitters, USD-selling Spot gained extra steam yesterday on the back
Read More

USD/IDR: Rupiah strengthens despite Bank Indonesia’s rate cut

on 18 July 2019, in News
At its July monetary policy meeting on Thursday, Indonesia’s central bank, Bank Indonesia (BI), slashed its 7-day reverse repo rate by 25bps to 5.75%, as widely expected. The latest Reuters poll showed that 23 of 33 analysts predicted BI will make a 25-basis point trim in the benchmark 7-day reverse repo rate to 5.75% –
Read More
see more
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