Wednesday 21st November: Greenback eyeing a test of 97.00 as major peers grind south.
EUR/USD: As risk aversion spreads from global stocks, the greenback stood triumphant against the bulk of its peers Tuesday.
Market Analysis
Daily Forex Update: USD/JPY
By: Dima Chernovolov USD/JPY continues to fall inside the clear daily Triangle chart pattern which was recently identified by Autochartist.
Risk aversion as equities and Treasury yields fall
Market Overview
There is a deterioration in risk appetite that has formed across financial markets today as equities on Wall Street tumbled last night and traders react to falling Treasury yields.
Tuesday 20th November: Safe-haven currencies favoured as risk aversion dominates.
EUR/USD:
Monday witnessed the euro advance against its US counterpart, reaching highs not seen since Nov 7.
Brexit uncertainties to drive continued sterling volatility
Brexit remains a key uncertainty for UK assets, whilst the Italian budget is also important in Europe, and developments in the US/China remain crucial for risk appetite.
Daily Forex Update: GBP/NZD
By: Dima Chernovolov
GBP/NZD continues to rise inside the 4-hour Down Channel chart pattern which was recently identified by Autochartist.
Risk appetite hit as APEC summit fails to agree
Market Overview
Focus has turned back to the US/China trade dispute after there was little sign of any agreement at the Asia-Pacific Economic Cooperation summit at the weekend, something that has muted risk appetite today.
Monday 19th November: Weekly technical outlook and review.
EUR/USD:
Weekly Gain/Loss: +0.85%
Weekly Close: 1.1416
Weekly perspective:
A stronger-than-expected rebound developed just north of demand at 1.1119-1.1212 last week, consequently breaking a four-week bearish phase.
Daily Forex Update: EUR/NZD
By: Dima Chernovolov
EUR/NZD recently broke the hourly Down Channel chart pattern which was recently identified by Autochartist.
Positive risk appetite hitting the dollar, sterling supported
Market Overview
Political risk in the UK is now huge.