EU Brexit

Image via © European Union 2016 - European Parliament The markets opened on a quiet note, but the Sterling took the lead as the UK referendum campaign got underway. Early opinion polls showed that the 'Remain' camp gained a lead which sent the sterling higher on the news. In Japan, data from the ministry of finance showed that the economy poste...

2016-06-24 John Benjamin Read more
GBP

The yen was back at the top of the currency board last week with risk aversion on account of market uncertainty and the BoJ's inaction. The yen was up 2.72% for the week, as USDJPY hovers near the 104 level. Earlier in the week, the dollar slipped below 104 briefly before managing to close modestly higher. The sterling was interestingly higher o...

2016-06-20 John Benjamin Read more
FOMC

The US dollar was one the weakest currency last week, despite the dollar starting off on a firm footing on Monday. The dollar weakened sharply after Friday's jobs report came out worse than expected to leave many to question whether the Fed will hike rates in June. This sent the US dollar to close Friday's session at a 3-week low. The Pound Ster...

2016-06-06 John Benjamin Read more
Gold_Orbex

The thing about chart patterns is that they are very subjective. Most of the times, the eye sees what it wants to see. And it is the same with chart patterns as well. What might seem like a head and shoulders pattern to one trader could well be seen in a different light by another trader. However, ignoring the chart patterns and sticking to one'...

2016-04-20 John Benjamin Read more
Crude Oil_OPEC Headquarters

Risk sentiment was mixed this week despite the yen managing to recover from a 17-month low near 108 levels. The yen managed to weaken steadily through the first part of the week with BoJ officials taking a turn to step up pressure. Equities attempted to push higher amid earnings season but by Thursday, stocks were trading flat. With the Doha mee...

2016-04-15 John Benjamin Read more
Yen_Japan

It was all about the Japanese yen this week as USDJPY gained bearish momentum sending prices to a 17-month low. The US dollar fell to lows of 107.66Yen on Thursday but managed to recover by Friday's trading on mounting risks that some form of intervention from Japan could set about a massive short squeeze in the currency pair. The Bank of Japan ...

2016-04-08 John Benjamin Read more
dollars_orbex

It was another week of a roller coaster ride for the US Dollar. The much-anticipated speech from Federal Reserve Chairwoman Janet Yellen saw some strong dovish views which sent the US Dollar plunging across the board to close the first quarter of 2016 with one of the strongest losses were ever seen in the US Dollar Index in a decade. Citing conc...

2016-04-04 John Benjamin Read more
US week

The US Dollar was in a steady uptrend this week erasing the losses from the previous week. The Greenback fell after last week's FOMC decision to keep rates steady and to lower its rate forecasts. This week, Fed officials speeches saw a broad hawkish consensus forming supporting further rate hikes and, in turn, keeping the dollar well bid across ...

2016-03-25 John Benjamin Read more

It was another week of big Central Bank decisions and this time, it was the BoJ, Federal Reserve, SNB and the Bank of England. All Central banks left monetary policy unchanged while waiting to assess more data. Interesting, the BoJ's monetary policy decision was a close call despite market expectations that there would no big changes. The BoJ's ...

2016-03-18 John Benjamin Read more
Draghi_Orbex

It was a week of Central Bank decisions with the Bank of Canada, RBNZ and the ECB being the main events of the week which saw two rate cuts and a neutral stance. The Bank of Canada decided to leave interest rates unchanged in this month's meeting at 0.50%, opting instead to wait for the fiscal stimulus measures from the government which is to be...

2016-03-11 John Benjamin Read more