FxPremiere.com Weekly News – Weekly Forex Signals News Forecast
Weekly Forex Signals News Forecast
Weekly Forex Signals News Forecast for major currency pairs including Crude Oil.
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Asian Markets Gain As Risk Appetite Returns
Talking Points: Most Asian forex markets headed upward as risk appetite came back.
Jap Yen growth data grew forecasts away but neither stocks nor the japanese yen capitalized
The US Dollar made back some lost ground
Yen drops, Aussie Dollar Gains
Japanese Yen drops, Aussie Dollar gains with capital markets mood brighten in Asia
US, European stock futures show risk-on mood to continue
Australian Dollar Shrugs at China
Chinese industrial production drop in July
Retail sales drop too
The Aussie Dollar volatile, but didn’t drop too far; looks composed at altitude.
Forex Signals – July’s industrial production rose 6.8% according to official figures. That was well below both the 7.8% gain expected and June’s 7.9% rise. Retail sales also missed, but only just. They rose by an annualized 11.11%, when FX investors had hoped to see a 10.9% rise after June’s 11.11%. It’s tempting to suggest that those forecast misses will come to matter less than the deceleration.
The Aussie Dollar often finds itself in the position of investor liquid China proxy thanks to its vast export links with the world’s largest economy. It didn’t very obviously that this role in the wake of the data continues.
The Australian Dollar has spent the last few weeks in retreat but looks comfortable around the two-year highs. It stays clearly downtrend line drawn; but support in the 0.7850 area seems to be holding.
Crude Oil Prices stays in Range Gold Eyes US Retail Sales
- Crude oil prices manage to hold range support above $49/bbl
- Gold prices drop on US CPI
- Gold prices edged up as US CPI figures dropped lower than first assumed. They posted the first pickup in seven months. Treasury bond yields and the US Dollar are similar, making for a relatively supportive bearing asset real strategy
GOLD TECHNICAL ANALYSIS – Gold prices are to challenge resistance in the 1293.90-95.49 area (61.9% Fibo expansion. A higher break seen on a daily closing basis exposes the 76.1% level at 1303.90.
CRUDE OIL TECHNICAL ANALYSIS – Crude oil prices range testing floor support marked by the 15.3% Fibo level expansion at 48.50. A daily close below sees the down barrier at 47.37.Fib retracement at 50.21 exposes the 76.8%.
Trading Outlook for USD Equity Indices, Gold Price
US Dollar Index ( DXY ) saw a bounce from the support zone with the inspiring one day move on NFP’s risk still looks top move up. Focused placed on bearish EURUSD, GBPUSD forex signal trades. USDJPY is trading down. read more on risk aversion in the forex market.