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FountainFX Daily Market Analysis
Critical Euro news released today at 1:45pm. We analyse the news and the market reaction which saw the EURUSD move down 130pips in 2 hours only to reverse for another 130pip move up. FountainFX.co.za will share strategies in its members zone on how to benefit from trading these major news releases for profit.
The US dollar was broadly stronger today, with the main driver being Federal Reserve Chair Janet Yellen’s less-than-dovish comments yesterday at a testimony in front of the US Senate Banki…
Forex News – Bank of Japan remains upbeat on inflation
he Bank of Japan’s latest meeting delivered few surprises and hence mostly reaffirmed what the market knew already. The Bank left its monetary stimulus unchanged at a pace of 60-70 trillion yen a year. This has led to 10-year yields on Japanese Government Bonds dropping t0.54%.The Bank’s forecast that inflation would reach 1.9% during the year starting in April 2015 was unchanged from its previous meeting. This meant that the chances of additional stimulus during the year have diminished. Some i…
EURopean Session – Yellen comments continue to drive dollar higher
The US dollar was broadly stronger today, with the main driver being Federal Reserve Chair Janet Yellen’s less-than-dovish comments yesterday at a testimony in front of the US Senate Banking Committee.Yellen’s more positive outlook on the US economy opened the door for a shift in the rate hike timeline. Based on her comments, rates could rise sooner than expected if employment in the US improved.“If the labor market continues to improve more quickly than anticipated by the Fed, then increases in…
Sterling drops after poor UK wage growth numbers
Sterling weakened after UK employment data released on Wednesday. Despite the official unemployment rate falling to its lowest level since late 2008 in the three months to May, the focus was on wages.The jobless rate fell to 6.5% from 6.6 % a month earlier but wage increases missed estimates and came in weaker-than-expected, remaining near 2009 lows, giving evidence that wages lagged inflation.In the three months through May, total wages (including bonuses) rose a yearly 0.3%, below forecasts of…
NZDJPY Reversal Undeway- Scalps Target Key Support at 88.20
- NZDJPY signals near-term reversal off July high
- Scalps look to sell rallies
Bank of America shares up 1.5% in pre-market
Bank of America Corporation (NYSE:BAC), the second largest U.S. bank, reported better-than-expected second quarter earnings and revenue figures ahead of Wednesday’s opening bell, sending its shares higher in pre-market trade.Bank of America rises 1.5% in pre-market trade after second quarter earnings reportBank of America said adjusted earnings per share came in at 41 cents, above expectations for earnings of 29 cents a share. Results included litigation expense of $4.0 billion, or approximately…
Dollar broadly higher on Yellen testimony, U.S. wholesale price
The dollar carried Tuesday's gains against most major currencies into Wednesday on Federal Reserve Chair Janet Yellen's comments to U.S. lawmakers that the economy is improving despite slack in the labor market and added rates could rise sooner if that slackness continues to wane.Dollar firms on Yellen comnents for second sessionIn U.S. trading on Wednesday, EUR/USD was up 0.32% at 1.3524.Yellen told lawmakers in a Tuesday hearing that interest rates could rise sooner rather than later if the la…
Gold gains on bargain hunting, though Yellen comments still weigh
Bottom fishers snapped up nicely priced gold positions on Wednesday and wiped out three consecutive losing sessions, though gains were cautious as markets still weighed Federal Reserve Chair Janet Yellen upbeat take on the U.S. economy.On the Comex division of the New York Mercantile Exchange, goldfutures for August delivery traded at 1,299.10 a troy ounce during U.S. trading, up 0.15%, up from a session low of $1,294.10 and off a high of $1,304.30.The August contract settled down 0.73% at $1,29…