Forecasts & Analysis | Fundamental

WTI crude prices are down showing a 1.5% loss. Weakness in the dollar was unable to help keep oil prices buoyed, while the breach in the Brent benchmark above $50.0 over the last day was seen as bullish-affirming price action. The looming OPEC-led meeting of major oil producers on Monday in St. Petersburg is an … Continue reading Crude Oil Price Analysis for July 24, 2017

The EUR/USD moved higher on Friday following Thursday’s ECB meeting where forex traders lifted the currency pair to fresh 14-month highs.  There appears to be a divergence in how the markets viewed the Draghi commentary following the ECB meeting. While forex markets are focusing on upbeat economic comments from Draghi on Thursday and push the … Continue reading EUR/USD Daily Technical Analysis for July 24, 2017

The USDCAD pair continues to struggle during the course of the last 24 hours and has been in the tight grip of the bears. Though there was a brief look over 1.26 as the pair tried to make a break, it could not get past the 1.2630 region and fell back below 1.26 where it … Continue reading USD/CAD Daily Fundamental Forecast – July 21, 2017

Gold Weakness in the dollar has helped the gold to zip through the $1240 level on Thursday’s trade. For now, buying on dips will be the preferred way to enter the market which is expecting a resistance around the level $1250 and $1235 will act as good support region. In Long term,  gold prices will target … Continue reading Commodities Daily Forecast – July 21, 2017

Natural gas futures are trading lower early Friday on low volume. There has been no follow-through to the downside after yesterday’s steep sell-off. This suggests the selling may have been overdone, or investors are waiting for more information. At 0730 GMT, September Natural Gas futures are trading $3.017, down $0.16 or -0.49%. Prices rose slightly … Continue reading Natural Gas Price Fundamental Daily Forecast – Less Cooling Demand Expected Next Week

EUR/USD The pair shot up during the Thursday’s trade after reports from the US suggesting the investigators expanding the search into Donald Trump’s global companies for collusion with Russia. The pair went up to 1.16 level during the day and closed around that level only. The pair had a good support on 1.15 level and … Continue reading EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – July 21, 2017

Gold is trending higher early Friday and nearing a three-week high, helped by a weaker U.S. Dollar and lingering U.S. political uncertainty. At 0700 GMT, December Comex Gold is trading at $1253.10, up $1.00 or +0.08%. A steep rise in the Euro to nearly a two-year high on Thursday sent the U.S. Dollar plunging against … Continue reading Price of Gold Fundamental Daily Forecast – Reaction to $1258.30 to $1269.40 Will Determine Longer-term Direction

U.S. West Texas Intermediate and international-favorite Brent crude oil are trading flat-to-mixed as investors square positions ahead of the week-end and a key meeting of major oil producing nations next week in St. Petersburg Russia. At 0625 GMT, September WTI crude oil is trading $46.89, down $0.03 or -0.06% and October Brent crude oil is … Continue reading Oil Price Fundamental Daily Forecast – Flat Ahead of OPEC, Non-OPEC Production Discussions in Russia

The DAX index spent much of the day yesterday waiting for the ECB. The DAX has been weak over the past few days on the talk of tapering by the ECB and with it, came the fear that the ECB would start funding the flow in the markets and this would lead to the drying … Continue reading DAX Index Daily Fundamental Forecast – July 21, 2017

Bitcoin and ethereum prices continued to skyrocket into the stratosphere on the same week when they had crashed to the bottom and there was panic all around. We had begun the week on the backfoot and with many ICOs doing the rounds over the weekend, we saw the ethereum prices crash towards its lows and … Continue reading Bitcoin and Ethereum Price Forecast – Bitcoin Rockets Higher

Not even good economic data and a weak US dollar could help the pound get out of the rut it seems to be in. The week had begun brightly for the pound with it managing to hold on to the gains that it had made last Friday on the back of some weak data from … Continue reading GBP/USD Daily Fundamental Forecast – July 21, 2017

The EURUSD once again rocketed higher as even the ECB President Draghi could not keep the euro down for long. It remains to be seen what needs to happen for the euro to break down but for now, the euro seems to be moving to levels that should begin to concern the ECB. But the … Continue reading EUR/USD Daily Fundamental Forecast – July 21, 2017

Crude rallied to $47.55, a two-week high, from $46.67 following the EIA inventory data which showed a 4.7-million-barrel fall in crude stocks. The street had been expecting a 2.5-million-barrel decrease, though the API reported a surprise 1.6 million stock build after the close on Tuesday. Meanwhile, gasoline supplies, seen down 0.5 million barrels actually fell … Continue reading Crude Oil Price Analysis for July 21, 2017

The EUR/USD broke out to fresh 23-month highs following the ECB commentary following their interest rate decision. While many interpreted Draghi’s comments as dovish, he announced that the ECB would look at reducing QE volume in the fall. They did not say they would make a change. Initially, Bunds jumped in price but then reversed … Continue reading EUR/USD Daily Technical Analysis for July 21, 2017

EUR/USD: Consolidation Will Disappear The European Central Bank’s Minimum Bid Rate publication and its Press Conference which will follow are certain to move the Euro against the U.S Dollar today. The European currency traded in a stubborn range on Wednesday. However, consolidation for the Euro against the U.S Dollar will disappear as ECB President Mario … Continue reading Daily Market Forecast, July 20, 2017 – EUR/USD, Gold, Crude Oil, USD/JPY, GBP/USD

The Dollar/Yen is trading higher on Thursday after the Bank of Japan kept its monetary policy unchanged after its two-day meeting, but it cut inflation forecasts for fiscal years 2017/2018 and 2018/2019. The move highlights the divergence between that of the BOJ and the U.S. Federal Reserve. At 0700 GMT, the USD/JPY is trading 112.124, … Continue reading USD/JPY Fundamental Daily Forecast – Yen Weakens after BOJ Cuts Inflation Forecasts

Gold The gold markets fell down initially and found some support underneath before bouncing back to higher levels. The market is likely to attract long-term buyers for now due to the struggling U.S. dollar. The gold markets continue to grow steadily as the Fed is unlikely to raise the interest rates again this year. …Read … Continue reading Commodities Daily Forecast – July 20, 2017

EUR/USD The pair dropped down yesterday before starting to climb upwards. The market will eventually find some buyers and then continue to go higher. The dollar began to slowly recover across the board. Traders should pay attention to the ECB’s announcement and press conference later in the day. …Read More GBP/USD The pair went sideways … Continue reading EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – July 20, 2017

The DAX index has been recovering slightly over the past 24 hours. This cannot be viewed as a recovery of sorts but more of a consolidation that is going on in the markets ahead of the ECB meeting that is scheduled to happen today. The DAX is likely to stay under pressure though there may … Continue reading DAX Index Daily Fundamental Forecast – July 20, 2017

Natural gas futures eased a little on Wednesday on forecasts for slightly higher production and a decline in demand. Investors also paired positions ahead of Thursday’s weekly government storage report. September Natural Gas futures settled at $3.055, down $0.018 or -0.59%. Traders are also reacting to weather forecasts calling for temperatures in August to remain … Continue reading Natural Gas Price Fundamental Daily Forecast – EIA Report Should Set the Tone for the Session