Investing.com - The safe haven yen and Swiss franc look likely to strengthen when markets open this week amid heightened geopolitical tensions in the Middle East after weekend attacks on Saudi oil plants disrupted global oil supplies.
Investing.com - Oil prices will react when markets open after an attack on a key Saudi production facility, amid uncertainty over how much global supply will be disrupted. Investors are also bracing for another interest rate cut from the Federal Reserve this week, as well as a flurry of rate decisions from other world central banks.
It’s a big week ahead for the markets. The FED, the BoE and Brexit are in focus, with stats and chatter on trade also needing some attention.
While UK politics continues to raise eyebrows, the British PM’s eagerness to garner a deal with the EU was key. In the week ahead, more progress is needed.
Gold markets have initially tried to rally during the week, but then rolled over again to show signs of weakness yet again. The $1500 level of course is going to attract a lot of attention, but when you look at the longer-term weekly chart, you can see that we are clearly pulling back.
Gold markets rallied a bit during the trading session on Friday, but then turned around to show signs of exhaustion yet again as Gold continues to sit on top of the $1500 level.
The British pound rallied a bit during the week, reaching towards the 1.25 level above. That’s an area that should attract a lot of attention and could be a major resistance barrier that will be difficult for the British pound to take out.
The British pound rallied significantly during the week against the Japanese yen, reaching towards the ¥135 level. That of course should attract a lot of attention as it is an area of extreme order flow.
The Euro was all over the place during the week as we had an ECB press conference, as you would expect. Having said that, it had a significant bounce after the interest rate decision, but on Friday we also started to see selling pressure again. We are in a downtrend, and that’s the most important thing to pay attention to.
During the previous week, we had a very strong candle stick for the weekly close, and then continue the upward momentum during the week over the last five sessions but have stalled a bit. This makes sense, because we aren’t quite sure what to make of the US/China trade situation yet.
The British pound rallied significantly during the trading session on Friday as we started to reach towards the 1.25 GBP level. That of course is an area that will attract a certain amount of psychological attention, not to mention the fact that we have seen structural noise in that region.
The GBP/JPY pair has rallied during the trading session on Friday to reach towards the crucial ¥135 level. This is an area that coincides with a lot of different moving pieces, so at this point the question is can we continue?
The Euro rallied a bit during the trading session on Friday, reaching towards the 1.11 EUR level. We had also found the resistance at the 50 day EMA, so technically speaking, this is a sign that we are probably going to reenter the previous consolidation.
Based on the early price action and the current price at 1.1104, the direction of the EUR/USD the rest of the session is likely to be determined by trader reaction to the 50% level at 1.1106.
British pound surges, while limited movement for Canadian dollar and Mexican peso. All eyes are on U.S. retail sales, which could shake up the currency markets
Investing.com - The pound rose on Friday on a newspaper report that the U.K. government is contemplating some type of regulatory divergence between Northern Ireland the U.K. in an attempt to secure a Brexit deal.
Investing.com -- Gold edged above $1,500 an ounce again on Friday, as the reality of ever-more negative interest rates in Europe outweighed the general return of risk appetite in stock and commodity markets.
I tend to go to the Treasury markets whenever I have to answer a question about a market. In this case, if Treasury yields continue to rise then I expect gold to be capped. A lower U.S. Dollar is just a function of a stronger Euro so although we can see a technical bounce in gold due to the weakening dollar index, I don’t think we’ll see a trend changing event.
The British pound rose to a nearly two-month high on Friday as a report gave some hopes that the U.K. could leave the European Union in a negotiated manner.