Forecasts & Analysis | Fundamental

Crude oil prices continued to move higher on Thursday following Wednesday reported from the Department of Energy that showed large drawdown of U.S. inventories, which was a catalyst for the latest rally. Upside risk remains however, following Saudi Arabia’s plan to cut its exports by up to 1,0 million barrels per day going forward, beginning … Continue reading Crude Oil Price Analysis for July 28, 2017

U.S. stock indexes are trading firm during the pre-market session. All three major indexes hit new contract highs during the early session with the September E-mini NASDAQ-100 Index posting the best performance. Currently, it is sitting just under the psychological 6000 level, boosted by a strong performance by Facebook. Facebook stock is expected to gap … Continue reading S&P 500; US Indexes Fundamental Daily Forecast – Higher Opening Expected on Facebook Beat

Gold The gold market drifted a bit lower to bounce back around the $1250 level. The calmness in the market can be guessed due to outcome before FOMC statement. The market will take a cue from here and decide on the course of direction to follow. Hawkish statement from FOMC will drive the price lower … Continue reading Commodities Daily Forecast – July 27, 2017

EUR/USD The pair went on a sideways movement during the Wednesday’s trade and seems to consolidate between the 1.1625 level and 1.17 level. The mildly dovish FOMC statement will lift the market higher and aim for the target 1.1850 levels. Over a couple of days of trading, the market seems to have made 1.15 level … Continue reading EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – July 27, 2017

The Dollar/Yen declined sharply on Wednesday after the U.S. Federal Reserve’s cautiously worded monetary policy statement drove down U.S. Treasury yields. In its statement, the Fed acknowledged the soft inflation reading, bolstering views that the central bank may take a pass at additional rate hikes later this year. The USD/JPY settled at 111.167, down 0.708 … Continue reading USD/JPY Fundamental Daily Forecast – Will Investors Respond to Carry Trade or Treasury Yields?

The USDCAD pair pushed lower on the back of a weak dollar but so far, the the push has not been able to move the pair below the 1.24 region. The progress in the downtrend has clearly slowed down and it remains to be seen whether this lull would lead to a bounce or is … Continue reading USD/CAD Daily Fundamental Forecast – July 27, 2017

As expected, the bitcoin prices have been ranging and consolidating around the $2500 mark over the past 24 hours and this is expected to continue in the short term. We also have an impending “fork” about the happen in the bitcoin industry on August 1 and it remains to be seen whether that is indeed … Continue reading Bitcoin and Ethereum Price Forecast – Prices Continue to Consolidate

The DAX index rose during the start of the session yesterday, something which we had pointed to, in our forecast and it did spend quite a bit of time above the 12300 region but later corrected towards the end of the day and closed the day below 12300 once again. The index seems to be … Continue reading DAX Index Daily Fundamental Forecast – July 27, 2017

We had mentioned in our forecast yesterday that the support region in the GBPUSD pair seems to have risen from the 1.28 region to the 1.30 region and that this region would be the line in the sand going forward. This turned out to be correct as we saw the pair use this region as … Continue reading GBP/USD Daily Fundamental Forecast – July 27, 2017

The EURUSD pair took off on the next leg of its bullish run, something which seemed to be only a matter of time over the last few days when the pair was seen to be correcting. The pair seems to be in a tearing hurry to make full use of the weakness in the dollar … Continue reading EUR/USD Daily Fundamental Forecast – July 27, 2017

U.S. West Texas Intermediate and international-benchmark Brent crude oil rallied nearly 2% to an 8-week high on Wednesday, driven by a big drop in U.S. crude stockpiles. September WTI crude oil settled at $48.75, up $0.86 or 1.80%. October Brent crude ended the session at $51.10, up $0.74 or +1.47%. Late Tuesday, industry group the … Continue reading Oil Price Fundamental Daily Forecast – Is the Long-awaited Rebalancing Taking Place?

Gold futures whip-sawed after the Fed decisions on Wednesday. The dovish tone sent the U.S. Dollar lower, creating demand for gold, but the market ran into a wall of selling at a technical chart point, pushing it lower for the day. December Comex gold settled at $1255.60, down $2.90 or -0.23%. The U.S. Federal Reserve … Continue reading Price of Gold Fundamental Daily Forecast – Dovish Fed Supportive, Gains Limited by Demand for Risk

Natural gas futures attempt to rally further on Wednesday failed to draw enough buyers to sustain the rally and the market closed lower for the session. Like Tuesday’s strong rally, natural gas speculators tried to drive prices higher on the back of a sharp rise in crude oil futures, but unlike that move, traders decided … Continue reading Natural Gas Price Fundamental Daily Forecast – Trader Reaction to $2.934 Will Set the Tone Today

The Australian and New Zealand Dollars posted volatile, two-sided price action on Wednesday before finishing sharply higher for the session. Early in the session, the weaker price action was driven by disappointing Australian consumer inflation data and dovish talk from a Reserve Bank of Australia official, but by the end of the session, the primary … Continue reading AUD/USD and NZD/USD Fundamental Daily Forecast – Widening Interest Rate Differential Favors Aussie, Kiwi

Crude oil prices surged higher and started the session in the black, following a larger than expected draw in crude oil inventories reported on Tuesday evening by the American Petroleum Institute.  Prices gapped up to the 48.66 level, but then eased ahead of the EIA data. Prices refreshed their upward climb following the robust inventory … Continue reading Crude Oil Price Analysis for July 27, 2017

U.S. yields edged slightly higher as stocks in the U.S. hit fresh all-time highs. ECB yields eased after rising on Tuesday, despite broad gains on European stock markets. The Fed said that further changes to the normalization policy were coming soon, when discussing the balance sheet. They also left rates unchanged.  The Fed said that … Continue reading EUR/USD Daily Technical Analysis for July 27, 2017

Several interesting trends have been taking place in oil markets in recent weeks. For one thing, shipments of crude oil from Saudi Arabia to the United States of America have dropped to a 7-year low. According to data released by the US EIA (Energy Information Administration), the July 14, 2017 figure for imports from Saudi … Continue reading Should Investors Be Concerned About the Price of Crude Oil?

Gold The market was very choppy during the Tuesday’s session and went downside to find enough support around the $1250 handle. The market is treading carefully before the statement by FOMC. Traders should watch for the level at the close of the session, if we close below the $1240 region then the market will go … Continue reading Commodities Daily Forecast – July 26, 2017

EUR/USD The pair tried to rally past the 1.17 level but found enough resistance to fall back during the day. The market is looking for the 1.1850 level in long term and it will find strong support around the 1.15 level which it broke after 2 years of consolidation. FOMC statement from the US which … Continue reading EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – July 26, 2017

EUR/USD: Sentiment Will be Tested All Day The Euro will be tested leading up to the U.S Federal Reserve’s pronouncements late today. The European currency has held onto its stronger realms, but has not been able to push forward against the U.S Dollar. The 1.1650 mark is a focus for investors and the Euro may … Continue reading Daily Market Forecast, July 26, 2017 – EUR/USD, Gold, Crude Oil, USD/JPY, GBP/USD