Forecasts & Analysis | Fundamental

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

A creeping U.S. Dollar and increasing demand for higher yielding assets helped put a lid on gold futures on Wednesday. The lack of follow-through to the upside could be signaling that the selling is greater than the buying at current price levels. Or it may just mean that buyers are taking profits in reaction to … Continue reading Price of Gold Fundamental Daily Forecast – Supported by Lower Treasury Yields, but Limited by Demand for Risk

U.S. West Texas Intermediate and international-benchmark Brent crude oil jumped more than 1.50% on Wednesday after a government inventories report showed a larger weekly draw than forecast. A drop in gasoline stocks and a surprise draw in distillate inventories also contributed to the price rise. September WTI crude oil settled at $47.32, up $0.73 or … Continue reading Oil Price Fundamental Daily Forecast – Prices Boosted by Bullish EIA Data; Needs Help from OPEC to Sustain Rally

The Australian and New Zealand Dollars continued their winning ways on Wednesday. Both currencies continued to react to the positive vibe generated by the Reserve Bank of Australia on Tuesday and diminished chances for a Fed rate hike later this year. Kiwi investors also continued to shrug off Tuesday’s weaker-than-expected quarterly inflation report. The AUD/USD … Continue reading AUD/USD and NZD/USD Fundamental Daily Forecast – Aussie Employment Change Meets Expectations

Both bitcoin and ethereum prices continued to consolidate over the last 24 hours, as we had mentioned in our forecasts. The bitcoin prices are back to doing what they do best, which is to stay volatile and they have shown some good volatility since yesterday. They went ahead and pushed forward towards the $2400 mark, … Continue reading Bitcoin and Ethereum Price Forecast – Prices Consolidate as Market Settles

The oil prices began to rise once again yesterday, after a few days of consolidation and this seemed to be just what the doctor ordered as far as the USDCAD pair was concerned. We had mentioned that the next target of the traders in this pair is likely to be the 1.25 region but with … Continue reading USD/CAD Daily Fundamental Forecast – July 20, 2017

The GBPUSD pair was in a tight range much of the day as the traders and the investors were lost for direction in the absence of any specific drivers in the market. The pound had been looking strong at the beginning of the week after making a run towards the 1.31 mark on the back … Continue reading GBP/USD Daily Fundamental Forecast – July 20, 2017

The EURUSD pair managed to give back some of its gains that it had been making over the last few days as the dollar made a minor recovery all across the markets over the last 24 hours. At this point of time, there is not much to be read into this move so far as … Continue reading EUR/USD Daily Fundamental Forecast – July 20, 2017

Crude oil prices closed at a 6-week high, surging following a report from the Department of Energy that showed a larger than expected draw in total petroleum inventories.  Prices were higher going into the trading session, following Tuesday’s bullish inventory report from the American Petroleum Institute (API).  Demand is picking up, and while gasoline demand … Continue reading Crude Oil Price Analysis for July 20, 2017

The EUR/USD edged lower as European government bonds traded higher and yields retraced relative to their U.S. counterparts. The decline in EU yields against treasuries weighed on the forward curve putting pressure on the currency pair. The message from the ECB tomorrow is likely to be little changed from June, but reports that officials are … Continue reading EUR/USD Daily Technical Analysis for July 20, 2017

U.S. stock index futures are expected to open the cash market higher based on the price action in the pre-market session. Once again the NASDAQ Composite and -100 Indexes are expected to be the leaders with the blue chip Dow and benchmark S&P 500 Index struggling a little to keep up due to poorly performing … Continue reading S&P 500; US Indexes Fundamental Daily Forecast – Light Volume Dampening Rally, but Low Rates Helping NASDAQ

The USDCAD pair continues to trade near the lows of the range as the pair consolidates and wait for the next direction. The pair is unlikely to move too much at this point of time though the weakness in the dollar is clearly weighing on the pair. We could probably see the pair moving towards … Continue reading USD/CAD Daily Fundamental Forecast – July 19, 2017

Gold Buying into gold continued through the day breaking the important psychological level of $1240. The buying into gold will continue and it will try to test the $1250 level. Reports from the US on falling of inflationary pressure is assisting the gold market to rally. The long term target for gold is of $1300 and we … Continue reading Commodities Daily Forecast – July 19, 2017