Forecasts & Analysis | Fundamental

Crude oil futures are trading higher on Monday, driven by profit-taking, short-covering and aggressive counter-trend bargain hunting. At 0403 GMT, August West Texas Intermediate crude oil futures are trading $43.52, up $0.51 or +1.16% and internationally-favored September Brent crude oil futures are at $46.29, up $0.54 or +1.18%. Fundamentally, a weaker U.S. Dollar is helping … Continue reading Oil Price Fundamental Daily Forecast – May Need Rally to Shake out the Weak Shorts

Natural gas futures gapped higher on Monday. Traders were likely responding to the weather and the news of a drop in the number of natural gas rigs. At 0400 GMT, August natural gas futures are trading $3.017, up $0.066 or +2.24%. Despite the strong price action, the trend is still down on the daily chart, … Continue reading Natural Gas Price Fundamental Daily Forecast – Rig Count Drops, Market Gaps Higher

The GBPUSD pair continues to trade within a range of 300 pips, something that it has been doing ever since the elections in the UK threw up some surprising results. Though the pair has been trading between 1.25 and 1.28 for most of the time during this period, the volatility within this range has been … Continue reading GBP/USD Daily Fundamental Forecast – June 26, 2017

There has not been much action in the markets as of this morning and in that aspect, it can be said that it has been a typical Monday morning. It is the last week of the month and as we have been saying for the past few days, the economic and fundamental drivers dry up … Continue reading EUR/USD Daily Fundamental Forecast – June 26, 2017

Gold prices are trading nearly flat on Monday as investors prepare for a slew of key U.S. economic data this week as well as a speech from Federal Reserve Chair Janet Yellen. At 0303 GMT, August Comex gold is trading $1255.80, down $0.60 or -0.05%. The range is a scant $1259.00 to $1255.40. Although gold … Continue reading Price of Gold Fundamental Daily Forecast – Traders Preparing to Respond to U.S. Durable Goods Reports

The Australian and New Zealand Dollar finished mixed against the U.S. Dollar last week. Both were subject to the influence of their respective central banks with the Reserve Bank of Australia releasing its monetary policy minutes and the Reserve Bank of New Zealand issuing its latest monetary policy decision. The AUD/USD settled the week at … Continue reading AUD/USD and NZD/USD Fundamental Weekly Forecast – Focus on U.S. Reports, Fed Chair This Week

The Dollar/Yen closed higher for the week with the outlook for higher U.S. interest rates helping with most of the gains. There was a setback late in the week as investors reacted to dovish Fed commentary, falling oil prices and weak U.S. economic data. Falling Treasury yields also drove down the U.S. Dollar as investors … Continue reading USD/JPY Fundamental Weekly Forecast – Continue to Monitor U.S. Treasury Yields for Direction

DAX 30 The DAX index had a pretty eventful week but those who look at where it ended up for the week would not realise how much of volatility and promise that it had shown during the course of the week, only to lose it all as the week progressed and then end up back … Continue reading Weekly Global Indexes Technical Analysis, Jun 26 – Jun 30

The major U.S. stock indexes finished relatively flat for a third week as news regarding the Trump administration’s policy changes were met by muted reactions from investors. Rallies in health care and tech shares offset a plunge in energy stocks. In the cash market, the blue chip Dow Jones Industrial Average closed at 21,394.76, unchanged. … Continue reading S&P 500; US Indexes Fundamental Weekly Forecast – Energy, Health Care, Financial Sectors In Play This Week

Natural gas futures posted a volatile week, driven lower by temperatures that were expected to come in average to below average over the next two-weeks. August Natural Gas futures settled the week at $2.951, down $0.109 or -3.56%. According to the EIA, U.S. natural gas stocks increased by 61 billion cubic feet for the week-ending … Continue reading Natural Gas Price Fundamental Weekly Forecast – Oversold Conditions Could Lead to Short-covering

Gold posted a two-sided trade last week, first breaking to its lowest level since May 17 then recovering late in the week to finish marginally lower. August Comex Gold futures settled the week at $1256.40, down $0.10 or -0.01%. Gold hit a four-week low early in the week as the dollar held firm and the … Continue reading Price of Gold Fundamental Weekly Forecast – Falling Treasury Yields Will Be Bullish

U.S. West Texas Intermediate and internationally-favored Brent crude oil finished sharply lower last week for the fifth consecutive week. August WTI crude oil settled at $43.01, down $1.96 or -4.36% and September Brent crude oil closed at $45.75, down $1.88 or -3.95%. The week started with crude oil under pressure late in the session after … Continue reading Oil Price Fundamental Weekly Forecast – Will Another Price Plunge Cause Supply Deal to Unravel?

The DAX index had a pretty eventful week but those who look at where it ended up for the week would not realise how much of volatility and promise that it had shown during the course of the week, only to lose it all as the week progressed and then end up back within the … Continue reading DAX Index Fundamental Analysis – week of June 26, 2017

We had been mentioning since the beginning of last week that with the USDCAD prices suffering a large fall in the previous week, due to the strengthening of the CAD on hopes of a rate hike, there was a very good possibility of a corrective bounce in that week and that the bounce would not … Continue reading USD/CAD Fundamental Analysis – week of June 26, 2017

U.S. stocks closed mixed on Friday with the S&P 500 Index and NASDAQ Composite closing higher and the Dow Jones Industrial Average settling lower. Buyers were attracted to beaten up energy shares and technology stocks extended their rally. The benchmark S&P 500 Index rose 3.80 point, or +0.16%, to end at 2438.30 with technology stocks … Continue reading S&P 500; US Indexes Fundamental Daily Forecast – Investors Dealing with Health Care, Banking and Energy Issues

Mixed U.S. Treasury yields and disappointing economic data helped underpin the Australian and New Zealand Dollars on Friday. The AUD/USD settled at .7568, up 0.0028 or +0.37% and the NZD/USD closed the session at .7280, up 0.0016 or +0.23%. There were no economic reports from Australia and New Zealand on Friday, but investors were most … Continue reading AUD/USD and NZD/USD Fundamental Daily Forecast – Investors Keying on U.S. Interest Rate Differential

The Dollar/Yen finished lower on Friday but the inside move suggested the tone was neutral. This reflected the mixed trade in the U.S. Treasury markets. Interest rates drove the price action all week. Early in the week, investors were buying in reaction to the Fed rate hike the previous week. Later in the week, investors … Continue reading USD/JPY Fundamental Daily Forecast – Sideways Trade Guided by Treasury Yields

The pound turned out to be one of the most volatile currencies in the market last week, a week that was marked by general laziness and lack of volatility due to the absence of any fundamental and economic drivers in the market. It was the third week of the month and as is normal in … Continue reading GBP/USD Fundamental Analysis – week of June 26, 2017

Though a look at the charts would give us a picture of some decent volatility in the EURUSD pair in the week gone by, it has to be said that most of the volatility came towards the end of the week when most of the traders had been lulled into sleep or had just packed … Continue reading EUR/USD Fundamental Analysis – week of June 26, 2017

Oil prices were nearly unchanged on Friday, but this past week was a difficult one for oil bulls as prices fell more than 4%.  Oil prices are now down more than 20% since hitting a high in January placing the market officially into bear market territory. Domestic demand for gasoline is faltering, while export production … Continue reading Crude Oil Price Analysis for June 26, 2017