Mar 12, 2015
Weak European and Asian sessions taking their toll on localcurrencies have bounced back, finally striking back at the US dollar, with major currencies rising against the USD alongside a near-term technical correction in the US currency.
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Weak European and Asian sessions taking their toll on localcurrencies have bounced back, finally striking back at the US dollar, with major currencies rising against the USD alongside a near-term technical correction in the US currency.
US stocks have seen returns turn negative for the year started January 1st as weakening consumer sentiment and spending weigh on the outlook with a stronger dollar. American corporations are already complaining about the impact of a stronger dollar on earnings as exports become more expensive. The consumer savings rate has climbed to a multi-year high which is further evidence that a recovery in consumer spending is not around the corner despite the decline in energy prices. The weakness in stock benchmarks was coupled with sliding Treasury yields after a 3-year auction saw scorching demand from foreign central banks with indirect bidders taking down the most of an issue since 2010. The move lower in yields is accompanied by the weakness in gold prices which continue to feel the pressure of a stronger dolla
In remarks to the Senate Committee hearing, Janet Yellen discussed the U.S. economic outlook and lingering issues preventing interest rates from increasing.
The global economy is projected to contract in 2015 as deflation spreads across the globe, impacting both developed and emerging economies.
In the wake of losses circling the globe vis-à-vis margin trading in currencies, Chinese regulators are clamping down on margin finance and securities lending accounts.
The confluence of weaker energy prices coupled with a weaker growth outlook see copper prices tumble.
GBPUSD Ascending Triangle Trading Opportunity
After declining steadily over the last few weeks, GBPUSD looks to have finally found a bottom. The deterioration in the U.K. macro outlook coupled with Dollar strength has seen the Pound crumble to lows not seen since 2013. Today’s CPI data should provide further evidence as to the robustness of the recovery, however, any trend into negative territory and whiff of deflationary winds could prove that this was only a temporary pullback to GBP weakness. The ascending triangle pattern has a bullish bias, however, any break below the uptrend line would be viewed as a breakdown in the pattern with further downside forecast.
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Dollar Trending Lower Post-Payrolls as Headline Beats But Bottom Line Proves Weak
http://bit.ly/1IDYtmL