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Forex Analysis

Forex Analysis - EURUSD 18/7/18

EUR/USD Technical Analysis

 Amid a bullish USD environment, the EUR rate is attempting to settle into a range, recently set by persistent stalling into the 1.1500 congestion area.  

Yield and interest rate differentials are clearly behind further downside here, but with the rates market pricing in another 37-38bps of hikes from the Fed in 2018, it is no surprise to see some hesitation down at these levels after a 10 cent drop through Q2.  

ECB Preview 26/7/18

Forex Analysis EUR/USD

Today's ECB meeting has garnered relatively limited interest in light of the clear signalling given in the Jun meeting.  QE has been tapered after Sep into year end and the forward guidance on rate normalisation puts a late(r) 2019 move on the table and not before.   

Oil - Which nations win if the price keeps rising

 Market focus when Oil prices go on the tear - or reverse sharply - tends to veer towards the producers and their respective currencies, and in the majors, the Canadian Dollar suffered incredibly during the fallout out seen in early 2016.  

A Good Day For GBP

EUR/GBP Technical Analysis

The title may sound odd, but in light of the potential mess that the UK government finds itself in, we would argue that Monday was a relatively good day for the Pound given what today's series of events would have done in the past.  Fresh from opening up 30 ticks from Friday's close, Cable above 1.3300 tried to push for some better levels before London markets decided it was time call for some restraint.  Fast forward to the afternoon and the resignation of Boris Johnson set the cat amongst the pigeons and GBP fell to lows just shy of 1.3200 against the USD, and tested .8900 vs the EUR.  

Could we see a Canadian rate hike?

USD/CAD technical analysis

There and have been many weights hanging around the Canadian Dollar's neck lately, with recent oil price gains having finally helped the currency back towards the 1.3100 level against the USD.  Domestic disruptions in pipeline have limited some of the benefits of the strong gains as the WTI spread with WCS (West Canadian Select) has remained around the $25-30 area, though absolute levels have risen to offer some benefit.  

USD - How far is too far? 2/7/18

DXY technical analysis

trading foreign exchange Forex

Forex Analysis

Fundamental and Technical Analysis

Welcome to fxdaily.co.uk, a website dedicated to providing an objective overview on the currency (and rates) markets, based on both the fundamental drivers as well as the technical dynamics on a daily basis. 

We primarily look to provide ‘colour’ on the G10 majors at the start of the London (European) session, covering all the key events from Asia as well as late NY. 

Setting the opening mood of the day is valuable reference point for traders and investors alike and with combined experience of over 30 years, predominantly in FX but incorporating volatility and the underlying commodities, our observations and analysis (thereon) offer a credible outlook on the price action ahead. 

We offer concise briefings which cater for time sensitivity, but also offer a more detailed analysis on specific currency pairings as well as their underlying determinants. Our reasoning focuses on establishing fair value levels, and in doing so, marrying up technical analysis with the multitude of data and events which prompt deviations – to varying degrees – from these levels. 

We continually seek to distinguish the significant influences on the market away from ‘the noise’, which in the current climate of ‘media overload’ can be time consuming. 

Our views – like any other – are there for debate within the investment community, but we will endeavour to highlight the risks on all time frames to give participants as wide a perspective as possible. 

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