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  #601  
Old 03-08-2017, 04:05 PM
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Default GBP/USD Fundamental Analysis: August 3, 2017

The main focus for today will be on the sterling pound as there are an expected economic releases and other data from the United Kingdom for this day. We await for the UK inflation hearings along with the rate announcement of the Bank of England to be issued. Also, BOE Governor Mark Carney will conduct his speech, therefore these events would likely cause high volatility for the GBP/USD.

The central bank of England was hawkish during their last meeting which led few markets to think that rate hike is possible sooner or later. There are three BOE members who agreed for a rate increase which triggered confidence for some markets, however, this only accounts a small portion of the market because the majority still believes that the bank will maintain its benchmark.

This is considered a logical approach regarding the continuous financial circles of Britain which could be a turmoil caused by the Brexit procedures. Moreover, a lot of things remain unclear, particularly the results of the referendum process in determining if it will a soft or hard Brexit. Due to many uncertainties, it is absurd for the BOE to make an increase and most likely, they want to see first the effect of the Brexit negotiations prior making such decisions.

The pound-dollar resume to consolidate yesterday and the range near the highs of its range are expected for this very important day. In case that the BOE decided to kept rates steady, the Cable is anticipated for further correction. The 1.3250 level serves as the ceiling at this moment.
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  #602  
Old 07-08-2017, 05:55 PM
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Default Longest Decline in UK Consumer Spending since 2013

British consumers lessened their expenditures for the third month in July, leading them into the worst decline in four years or longer. This also causes another economic impact at the beginning of the quarter.

According to a report published on Monday, IHS Markit and Visa said that the decline in spending was 0.8 percent year-on-year which appeared to be wide-ranging as the apparel, foods, household goods and transport suffered the hardest hit.

The downturn is compelled by consumers belt tightening because of the inflation rise over wage growth and shoppers’ concerns regarding the extensive outlook after the economic slowdown during the Q1 in 2017.

The negative report was issued after the Bank of England decided to lower its forecast for the economy. BOE Governor Mark Carney gave a warning about the uncertainty of Brexit that puts pressure towards businesses and households.

The consumer figures for July showed a 6 percent growth in spending on hotels, bars, and restaurants. The Markit mentioned that this may be somewhat relative to the expansion of “staycations,” as the sterling pound weakened which makes overseas holiday become more costly.
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  #603  
Old 08-08-2017, 04:21 PM
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Default EUR/USD Technical Analysis: August 8, 2017

The US payrolls data came in stronger than expected on Friday which buoyed the greenbacks and reacquires some of its gains yesterday. The German Industrial production unexpectedly declined but was able to maintain the single European currency.

The move made by the administration of Donald Trump relative to tax incentives help the dollar to bolster and must sustain the interest rates.

The inflation in the eurozone and the United States is expected to be released on Friday, this further support trader to determine whether growth will overrun inflation outlook.

The EURUSD edged a little bit higher yesterday and bounced off the support at 1.1774 region near the 10-day moving average. The resistance entered the 1.1910 level around the highs last week.

The momentum of the euro-dollar pair became negative while the MACD histogram developed a crossover sell signal. This appeared due to the spread that crosses under the 9-day moving average of the spread. The indicator jumped from positive to negative zone and confirmed a sell signal. The index prints in the red with a descending trajectory pointing to lower prices for the EURUSD.
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  #604  
Old 09-08-2017, 03:23 PM
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Default EUR/USD Fundamental Analysis: August 9, 2017

The markets may appear to be in a deep coma and traders seems to relax for awhile, however, there is something turned up that triggered their presence. The markets woke up from the slumber because of the recent data but did not cause a lot of movements. On Tuesday, the condition was different and this move built up in the past couple of days.

The recently released data is the JOLT employment figures which exceed its expectations and further boost the US dollar unexpectedly. This manages the pair to fall near 100 pips as it drops from the 1.18 level above towards the support region at 1.1720.

It was previously mentioned in the past few days that the 1.1720 support will indicate the time when it will be broken, as we expect for a deeper correction. Hence, this area was able to maintain the price but it seems to be under pressure in the near-term.

The global risk heightened due to threatening attacks by the North Korea while the United States warns the N.Korea about their possible counterattacks. With this, the gold and Japanese yen strengthened while the prices of other trading instruments were affected.

The euro-dollar pair rebounded from the 1.1720 mark to return and reach the highs at 1.1780. But this morning, the pair was seen to move in the lows due to an increase of risks worldwide.
Currently, the EURUSD experience lots of pressure due to investors and traders. The European leaders possibly felt that pinch of a stronger euro.

Ultimately, there is no major economic news from the eurozone or the US but volatility is predicted since yesterday which would likely dominate the markets this day, keeping the pair in the pressured area.
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  #605  
Old 10-08-2017, 04:56 PM
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Default GBP/USD Fundamental Analysis: August 10, 2017

The GBP/USD hovered around the tight range of 60 pips after breaking the significant support level at 1.3030. Due to the absence of some economic and fundamental indicators, the Cable was pushed through the consolidation and ranging period.

The pound-dollar pair remains to be sluggish and attempted to break back the weak support that became the resistance. This was immediately broken by a lot of selling on Wednesday. As of this writing, it currently trades under the 1.3000 mark.

We don’t expect any economic releases from the United Kingdom within this week, as the volatility and further actions needed to complete from last week.

The Bank of England announced for some growth and British inflation fears. The UK was strained to live with uncertainties due to Brexit procedures while traders should track down upcoming UK economic statistics in order to measure how does Britain deal with the EU exit.
Due to lack of fundamental and economic drivers in the market, the GBP/USD struggled in the past couple of days and the weakness of the Cable was clearly seen by everyone.

It is projected that the weakness will continue in the near-term when the British economic data came under renewed focus.

The United Kingdom was able to manage well in terms of economic indicators, however, the statistics became choppy previously. This triggered concerns about the impact of Brexit which begins to take place.

Ultimately, the manufacturing data from the United Kingdom was released with bulls that expect for strong results in order to raise the plunging Sterling pound. In addition to it, the US PPI data will be issued and should be watched carefully to assess whether the American data will resume recovering. Moreover, expect higher volatility for the GBPUSD this day.
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  #606  
Old 10-08-2017, 05:38 PM
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Default EUR/USD Technical Analysis: August 10, 2017

The Euro against the U.S. dollar moved sideways during the Wednesday session and consolidates higher than the 1.17 level. If a breakout occurs higher than the 1.1765 level, the trend goes climb higher.

For long-term, the trend has not successfully declined enough to sustain the level. There have been two impulsive moves headed downward and there is a chance for this to further decline. If a breaks down lower than the 1.1680 level, the price could further go down towards 1.16 level.
There is significant volatility in the market as it abruptly moves sideways and adjusted higher or lower as traders have made an unexpected move. During this time of the year, there is usually low liquidity since most senior is a holiday in big trading desks. Hence, this leaves the market a bit dormant.
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  #607  
Old 14-08-2017, 04:12 PM
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Default USD/JPY Technical Analysis: August 14, 2017

The U.S. dollar rebounded on Friday as it reached the 109 level which seems to be appealing to most traders. There is a high volatility for this currency pair with noises involved between North Korea and America. People are looking for safety currencies such as the Japanese yen to move forward.

There are various noises found at any moment which seems to persist. After some time, there will be more opportunities for long-term although sellers are predominantly taking over for short-term.

It is suggested to trade in small positions amid a highly volatile environment. However, if the price breaks higher than the 110 level which indicates the strengthening of the market that could reverse the trend and induce higher volume of purchases.

A pullback to the 105 level is possible since there is more support found in there. This would make trading more complicated and it is anticipated to have sudden fluctuations which could induce fear globally. Overall, volatility will be a big problem with the currency pair.
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  #608  
Old 18-08-2017, 02:51 PM
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Default GBP/USD Fundamental Analysis: August 18, 2017

The GBP/USD remained trading in a sluggish manner and another attempt to cut through the range lows was seen near the 1.2860 level. However, the Cable was able to survive again but due to a lot of rising attacks, the pair may not hold on too long before it breaks down and the sterling weaken.

The trading session on Thursday seems very choppy among various major pairs, as the greenbacks drove towards that course and also because of the release of Fed’s meeting minutes. The minutes came in slightly dovish which weakened the US dollar and triggered a round of dollar selling following the release. But on Thursday morning until the first half of the day, the USD managed to recover its strength which supported the reversal in the whole trend. This happened after issuing the minutes and the GBPUSD returned to its lows, poised to make a breakthrough.

Moreover, there are some talks about the resignation of Trump’s staffs and despite these false rumors, the dollar was pushed in the backseat. While the surge in global risk sentiment associated with the terrorist attack in Spain, further dragged the dollar towards the pressured area. With this, the pound-dollar pair recovered a little bit, but the Cable still trades around the lows of the range. Amid strong data from British retail sales, the pound bulls remain hopeless as the sluggish trading will keep on going.

Ultimately, there are no any major economic releases from the United States or Britain until the end of the day. Hence, consolidation is further expected but the weakening of the dollar was felt across the board. The GBPUSD is projected to be buoyant during the consolidative period in the near term.
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