Forecasts & Analysis | Fundamental

The Dollar/Yen posted a two-sided trade on Thursday before closing lower. The early rally was supported by upbeat U.S. economic data. The sell-off into the close was fueled by the carry trade as investors shed risky assets in the stock market and bought the Yen for protection. The USD/JPY settled at 111.260, up 0.093 or … Continue reading USD/JPY Fundamental Daily Forecast – Should Rally on Upbeat GDP, Limited Gains if Stocks Weaken

The Australian and New Zealand Dollars were hit hard on Thursday as investors reacted to technically overbought conditions and a recovery in the U.S. Dollar. Some traders felt the rally, fueled by Wednesday’s dovish U.S. Federal Reserve monetary policy statement, was overdone since most of the news was already baked into the prices. Furthermore, investors … Continue reading AUD/USD and NZD/USD Fundamental Daily Forecast – Strong U.S. GDP Data Could Deliver Another Blow to Aussie, Kiwi

Gold futures fell from their six-week high on Thursday, pressured by a rebound in the U.S. Dollar against a group of major currencies and solid economic data. Investors also continued to digest the Fed’s monetary policy statement while assessing the impact of its plan to begin trimming its massive debt “relatively soon” in a sign … Continue reading Price of Gold Fundamental Daily Forecast – U.S. Quarterly GDP Will Set the Tone Today

The DAX index continued to stay weak but the bulls are trying hard to make a stand here and reverse the overwhelming sentiment. The trigger for the move in the markets yesterday was strength in tthe US economic data which brought into the view again, the possibility of another rate hike in the US sometime … Continue reading DAX Index Daily Fundamental Forecast – July 28, 2017

Natural gas futures spiked to the upside on Thursday in reaction to a government report that showed domestic supplies in storage rose less than anticipated last week. The rally was a normal response to the data and no one should read into it. The market played a series of retracement levels that it must plow … Continue reading Natural Gas Price Fundamental Daily Forecast – Weather Moderate; Bullish Over $3.011, Bearish Under $2.934

U.S West Texas Intermediate and international-benchmark Brent crude oil futures reached an 8-week high on Thursday, closing higher for a fourth straight session. Support continued to be provided by last week’s huge inventory draw down as reported in Tuesday’s American Petroleum Institute’s report and Wednesday’s U.S. Energy Information Administration’s inventories report. Buyers also like Saudi … Continue reading Oil Price Fundamental Daily Forecast – WTI Needs Rig Decline to Sustain Rally Over $48.52

The bitcoin prices continued their ranging and consolidation between the $2400 and $2700 as we had mentioned in our forecast yesterday. So far, the bitcoin prices seem to be unaffected by all the talk of a fork coming up on August 1, which could possibly lead to a break up in the bitcoin market. Things … Continue reading Bitcoin and Ethereum Price Forecast – Ethereum Prices Coiling Up

The GBPUSD pair corrected lower in the line with the rest of the markets as the dollar gained in strength across the board. It is indeed a pity for the bulls that everytime they seem to have made a break through the highs and seem to want to push further, the dollar begins to gain … Continue reading GBP/USD Daily Fundamental Forecast – July 28, 2017

The EURUSD pair finally had some decent correction during the course of the day yesterday as the pair crashed from its highs close to 1.1780 and fell by around 120 pips and it now trades comfortably below 1.17 and we have to wait and see where it goes from here. This is probably the single … Continue reading EUR/USD Daily Fundamental Forecast – July 28, 2017

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

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