Forecasts & Analysis | Fundamental

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

There’s breaking news out of Washington early Wednesday which may have a negative effect on the U.S. market. So far, the U.S. indexes have retreated from their pre-market highs to break-even for the session. According to CNBC, President Trump was delivered a setback early Wednesday after Republicans failed to get enough votes to repeal and … Continue reading S&P 500; US Indexes Fundamental Daily Forecast – Republicans Fail to Repeal/Replace Obamacare

The Dollar/Yen continued to trade higher on Tuesday, driven by the carry trade, better U.S. economy data and position squaring ahead of the Fed’s interest rate decision and monetary policy statement on Wednesday. The USD/JPY settled at 111.875, up 0.780 or +0.70%. A sharp rise in U.S. equity markets on Tuesday helped bring the carry … Continue reading USD/JPY Fundamental Daily Forecast – Driven Higher by Carry Trade Buying

Comex gold prices fell on Tuesday after reaching a one-month high the previous session. The precious metal was pressured by increased demand for higher risk assets and position-squaring ahead of Wednesday’s U.S. Federal Reserve interest rate decision and monetary policy statement. December Comex Gold futures settled at $1258.50, down $2.20 or -0.17%. Some of the … Continue reading Price of Gold Fundamental Daily Forecast – Increased Demand for Risk Pressuring Gold

Short-covering and profit-taking helped drive natural gas futures higher for the first day in five on Tuesday. The market was also helped by a sharp rise in crude oil prices which helped offset bearish forecasts for less cooling demand due to anticipated lower temperatures in August. September Natural Gas futures settled at $2.931, up $0.049 … Continue reading Natural Gas Price Fundamental Daily Forecast – Bias to Downside Despite Short-covering Rally

USDCAD continued to stay in a strong manner though there were signs of recovery in the pair during the course of the day. We had mentioned in our forecast yesterday that the pair has been oversold for quite some time now and also that if there is to be a bounce in this pair, it … Continue reading USD/CAD Daily Fundamental Forecast – July 26, 2017

The European stock markets seemed to be in recovery mode in general yesterday but the DAX bucked the trend and didnt join them. It continued to trade in a pretty weak manner for most of the day and even the unexpectedly strong business climate data from Germany failed to enthuse the markets. The DAX trades … Continue reading DAX Index Daily Fundamental Forecast – July 26, 2017

Crude oil futures extended yesterday’s gains on Tuesday to finish at a seven-week high. Early in the session, the market was supported by bullish news from the oil ministers’ meeting in St. Petersburg, Russia on Monday. September West Texas Intermediate crude oil settled at $47.89, up $1.55 or +3.34% and October Brent crude oil closed … Continue reading Oil Price Fundamental Daily Forecast – Prices Surge on API Report, but Will EIA Confirm the Numbers?

The Australian and New Zealand Dollar are trading mixed shortly after the release of the Australian quarterly inflation data and well ahead of Wednesday’s U.S. Federal Reserve interest rate decision and monetary policy statement. At 0330 GMT, the AUD/USD is trading .7903, down 0.0032 or -0.39%. The NZD/USD is trading .7423, up 0.0006 or +0.08%. … Continue reading AUD/USD and NZD/USD Fundamental Daily Forecast – Aussie Sinks on Weak Consumer Inflation

We have now seen a correction in the prices of bitcoin and ethereum raising parallels to what we had seen at the beginning of the month. In the beginning of July, we saw that the bitcoin prices were at the highs of their range and were in a seemingly tearing hurry to break through the … Continue reading Bitcoin and Ethereum Price Forecast – Prices Correct As Traders Develop Cold Feet

The price action in GBPUSD pretty much followed that of EURUSD during the course of the day which was something to be expected due to the lack of economic data in most parts of the world, as this is the last week of the month. So, we saw the pair rising during the early half … Continue reading GBP/USD Daily Fundamental Forecast – July 26, 2017

The EURUSD corrected a bit once again yesterday as the dollar recovered across the board towards the end of the day. The dollar was on the backfoot during the early part of the day and this helped the pair to move towards 1.1712 which was almost the same as the highest level reached over the … Continue reading EUR/USD Daily Fundamental Forecast – July 26, 2017

Crude oil prices broke out on Tuesday as news that the Saudi’s planned on reducing exports by 1-million barrels helped lift crude oil above resistance. The Saudi’s are targeting exports to the United States which show up in the inventory report released by the Department of Energy on a weekly basis. With these numbers coming … Continue reading Crude Oil Price Analysis for July 26, 2017

Eurozone yields jumped higher with European equity markets in the wake of record beating German Ifo confidence readings. The headline Ifo may overstate growth prospects, but coupled with comments from ECB’s Mersch, who was more optimistic on both growth and inflation, markets were reminded that tapering is still looming on the horizon. Inflation remains moderate … Continue reading EUR/USD Daily Technical Analysis for July 26, 2017

Gold The market is trying to go higher in every trading session. The market fell initially but found enough support around the $1250 level and turned around to break above the $1255 level. Dips should be considered a good opportunity to buy into the market as trouble in the dollar will continue for some time … Continue reading Commodities Daily Forecast – July 25, 2017