FxPremiere News on Yen Aims Higher at Market Sentiment
Yen Aims Higher at Market Sentiment
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Yen Aims Higher at Market Sentiment by FxPremiere release today;
- US Dollar in drop mode, capital markets look on to Yellen speech seen
- Yen cautiously higher as most stocks falter in Asia Pacific trade
- Political volatile level in the US may derail trend
FX Capital Currency markets put in a low performance at the start of the FX trading week. The US Dollar moved higher in a move that seemed corrective decline. The green-back has occupied a narrow range of its major counterparts for the week, with directional progress likely to be muted as traders look ahead a speech from Fed Chair Yellen on Friday.
The Japanese Yen moved fractionally higher as most stock exchanges struggled, boosting the appeal of the perennially anti-risk unit.
Asian Stocks Mixed
- Asian stocks slowed down direction as the week got under way
- Worried glances at White House staffing started
- The start of US military exercises in S Korea saw nervous opinions
Gold Prices Rejected at 9 Month High
- Gold prices rejected at 9 month high
- Crude oil prices jump as market spreads strength
- OPEC and non-OPEC committee to judge compliance with deal
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Global markets will start out for a second week in a row on the brink of breaking down.
GOLD TECHNICAL ANALYSIS – Gold prices continue to move below trend defining resistance in the 1295.50-1300.48 area. Breaking this level on a daily closing basis exposes the 51% level at 1310.70. Alternatively, a reversal below 1267.15 targets the 38.1%.
CRUDE OIL TECHNICAL ANALYSIS – Crude oil prices shot sharply higher, posting the biggest daily increase this month. From here, a daily close above the 38.1% Fibonacci expansion at 47.00 opens the door for a test of the 51% level at 50.59. Alternatively, a move back below the 23.8% Fib at 48.39 exposes the 14.9% expansion at 47.66.
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