• FX Empire

    USD/JPY Fundamental Weekly Forecast – Partial Trade Deal Means Risk Still Exists

    The announcement of the first phase of a substantial trade deal was obviously bullish for the Dollar/Yen, but since there was so much long speculation ahead of the announcement, most of the good news was probably priced into the Forex pair.

  • FX Empire

    AUD/USD and NZD/USD Fundamental Weekly Forecast – Aussie Unemployment Rate Should Set Tone

    Even though the Aussie and Kiwi were boosted by the news, I don’t think it was particularly bullish because the older tariffs remain in place, and a decision had not been made over additional U.S. tariffs scheduled for December.

  • FX Empire

    Price of Gold Fundamental Weekly Forecast – Bearish Influences Include Rapidly Rising Treasury Yields, Demand for Risky Assets

    Gold is likely to remain under pressure as long as Treasury yields continue to rise. Furthermore, a weaker U.S. Dollar is not expected to influence gold prices too much until all of the long-hedge positions in the greenback have been liquidated.

  • FX Empire

    The Week Ahead – Brexit, Earnings, Stats and the IMF and EU Summit in Focus

    It is a big week ahead, with corporate earnings, trade talks, Brexit and economic data in focus. There’s also the IFM meetings and the EU Summit.

  • Brexit hopes sends British pound to highest level of Johnson administration as U.K. banks soar
    MarketWatch

    Brexit hopes sends British pound to highest level of Johnson administration as U.K. banks soar

    Optimism that U.K. and European leaders can reach an agreed deal for Britain to leave the European Union pushed the British pound higher for a second day.

  • Reuters

    EMERGING MARKETS-U.S.-China trade deal hopes spark rally in Latam assets

    The Mexican peso, vulnerable to trade risks due to its reliance on U.S. economy, jumped 0.8%, while the Chilean and the Colombian pesos rallied 1%, getting an extra boost from a rally in metal and oil prices. U.S. Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He, ended a second day of talks in Washington on Friday and Bloomberg News reported the two sides had reached a partial agreement that would lay the groundwork for a broader deal. The surge in risk appetite and a rally in the pound on rising hopes of a Brexit deal pressured the dollar.

  • Gold Price Prediction – Prices Drop as Trade Premium Declines
    FX Empire

    Gold Price Prediction – Prices Drop as Trade Premium Declines

    Traders await news of a trade deal

  • AUD/USD Forex Technical Analysis – News Driven Aussie Strengthens Over .6811, Weakens Under .6783
    FX Empire

    AUD/USD Forex Technical Analysis – News Driven Aussie Strengthens Over .6811, Weakens Under .6783

    Based on the early price action, the direction of the AUD/USD the rest of the session on Friday is likely to be determined by trader reaction to the resistance cluster at .6809 to .6811.

  • NZD/USD Forex Technical Analysis – Strengthens Over .6357, Weakens Under .6327
    FX Empire

    NZD/USD Forex Technical Analysis – Strengthens Over .6357, Weakens Under .6327

    Based on the early price action and the current price at .6342, the direction of the NZD/USD the rest of the session on Friday is likely to be determined by trader reaction to the downtrending Gann angle at .6346.

  • FX Empire

    Gold Weekly Price Forecast – Gold Markets Have Rough Week

    Gold markets fell during the week as the United States and China sat down to talk. This of course is very influential on the risk appetite of traders around the world, so paying attention to how that turns out it is going to tell you exactly how this market moves.

  • FX Empire

    Gold Price Forecast – Gold Markets Crater on Friday

    Gold markets initially tried to rally during the trading session on Friday, but then fell rather hard to test the major uptrend line. We are in a huge wedge, and if we were to break down below this trendline it’s likely that the market will probably go looking towards the $1450 level almost immediately. Below there, things get quite a bit more difficult.

  • FX Empire

    USD/JPY Weekly Price Forecast – US Dollar Rallies Significantly For The Week

    The US dollar has rallied significant during the week, reaching towards the ¥108.50 level. At this point, there is a significant amount of resistance just waiting to happen, so if it were to be broken it’s very likely that the market could go looking towards the ¥110 level. However, if we break down, the ¥107 level should be supportive.

  • FX Empire

    GBP/USD Weekly Price Forecast – British Pound Skyrockets

    The British pound has skyrocketed this week as it appears that there are some signs of progress in Brexit negotiations. That being said, I’m not overly impressed quite yet, because I know that it’s only a matter of time before some negative headline comes out. If the pair can survive that negative headline, then we could be looking at something rather big.

  • FX Empire

    GBP/JPY Weekly Price Forecast – British Pound Skyrockets

    The British pound skyrocketed during the week on trade hopes involving the Brexit situation. As we are starting to see signs of progress in those negotiations. However, we have not seen a true decision made, so a lot of this could be a simple short covering.

  • FX Empire

    EUR/USD Weekly Price Forecast – Euro Has Strong Week

    The Euro rallied significantly during the week, as we have seen the lot of positive headlines come out involving the Brexit. Ultimately, this is a market that is going to be influenced by a lot of external factors, and of course the occasional rumor/headline.

  • FX Empire

    AUD/USD Weekly Price Forecast – Australian Dollar Rockets Higher

    The Australian dollar initially fell for the week but has rallied significantly as Hope has reentered the market for some type of agreement between the United States and China.

  • FX Empire

    USD/JPY Price Forecast – US Dollar Hitting Resistance

    The US dollar has rallied significantly during the trading session on Friday, crashing into the ¥108.50 level. The 200 day EMA is just above, and it’s very likely that the market could turn right back around, based upon basic technical analysis.

  • FX Empire

    GBP/USD Price Forecast – British Pound Screams Higher Again

    The British pound rallied rather significantly again during the trading session on Friday, as we continue to have headlines coming out that perhaps some real progress is finally being made in the Brexit scenario. At this point though, it’s a bit rich to jump in at this level.

  • FX Empire

    GBP/JPY Price Forecast – British Pound Has Yet Another Bullish Session

    The British pound rocketed higher during the trading session on Friday, as the hoped-for Brexit being worked out is reaching a fever pitch. Having said that, the market is still fragile in the sense that this is probably more short covering than anything else, and could turn around at the drop of a dime. If there is some type of negative headline out there, it’s likely that the pair will fall apart.

  • FX Empire

    EUR/USD Price Forecast – Euro Breaks Out Again

    The Euro has rallied significantly during the trading session on Friday, breaking above the 50 day EMA before finding sellers again. Ultimately, the market is going to continue to be very choppy but it looks as if a bit of hope entering the Brexit situation could send money back into the Euro.

  • FX Empire

    AUD/USD Price Forecast – Australian Dollar Testing 50 Day EMA

    The Australian dollar rallied nicely during the trading session on Friday, as optimism continues to spread about the US/China trade talks. That being said, nothing has actually happened so it will be interesting to see whether or not there is some type of news that moves this market one way or the other.

  • FX Empire

    AUD/USD and NZD/USD Fundamental Daily Forecast – Strengthen on Hopes of Progress in US-China Talks

    Prices could surge further later in the session if the two countries could agree to at least a partial agreement on issues such as currency and agriculture buying. This would leave more controversial issues such as protections against Chinese theft of U.S. intellectual property, for later negotiations.

  • Gold Gifts Traders With Another Rotation Below $1500
    FX Empire

    Gold Gifts Traders With Another Rotation Below $1500

    Positive expectations related to the US/China trades negotiations on October 10th prompted a moderately strong upside move in the US major indexes and the stock market. Additionally, the precious metals fell in correlation to the upside move in the US stock market and presented another opportunity for skilled technical traders to look for entries below $1500 in Gold and below $17.75 in Silver.

  • Reuters

    EMERGING MARKETS-Trade, Brexit deal hopes spark rally in Latam assets

    The Mexican peso, vulnerable to trade risks due to its reliance on U.S. economy, jumped 0.7% to 19.31 per dollar, while the Chilean and the Colombian pesos rallied about 0.8%, getting extra boost from a rally in metal and oil prices. The rally came as U.S. President Donald Trump said U.S.-China trade talks were going well as the second day of top-level negotiations got under way. Investors are hoping the two sides will agree to a deal that could avert further retaliatory measures, while expectations of a last-minute Brexit deal between the European Union and Britain as well as approval of a North American trade deal all added to the optimism.

  • MarketWatch

    Midcap British stocks soar on move toward Brexit talks

    The midcap FTSE 250 rose 3.5%, its best single-day percentage gain in more than three years, as European leaders indicated there was progress toward reaching an agreed deal with the U.K. on leaving the European Union. The European Union says it has agreed with the United Kingdom to "intensify" Brexit negotiations in a belated attempt to reach a divorce deal ahead of Oct. 31. A number of FTSE 250 components sported double-digit gains, including bank CYBG , building materials distributor Grafton Group and home improvement retailer Travis Perkins . The FTSE 100 however saw much smaller gains, of just 0.7%, because many of those components record revenue in dollars.