- Tuesday, 28 November 2017
- Daily Fundamental Analysis
GBP/USD Daily Forecast – 29 November
Focus of the yesterday's session was on BoE's Bank Stress Test Results. The UK's seven biggest lenders are all strong enough to cope with a "disorderly" no-deal Brexit, according to a Bank of England assessment. But the Bank said it would consider whether the firms needed to hold billions more capital as an emergency buffer in case such a scenario coincided with a wider global downturn. The Bank's financial policy committee also set out a wishlist of actions required to mitigate the risks to UK financial services posed by the departure from the EU.
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- Tuesday, 28 November 2017
- Daily Fundamental Analysis
AUD/USD Daily Forecast – 29 November
There were no data releases from Australia yesterday. On what was an otherwise quiet session, Ray Attrill, Head of FX Strategy at the National Australia Bank, said the the US dollar found support following hawkish remarks from Robert Kaplan, Dallas Fed President, in an essay posted on the bank’s website. “If we wait too long to see actual evidence of inflation, we may get behind the curve and have to subsequently raise rates more rapidly,” Kaplan said. “This type of rapid rate rise has the potential to increase the risk of recession.” Along with Kaplan’s remarks, Attrill said the US dollar also got a boost from a tweet on the progress of US tax reform from US President Donald Trump.
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- Monday, 27 November 2017
- Daily Technical Analysis
GBP/USD Daily Forecast – 28 November
Sterling formed support around 1.33 handle in the course of the yesterday's session and was then pushed higher going all the way to 1.3380 level where it found some amount of resistance and pulled back in order to finish the session around 1.3330 area. As for tomorrow, focus will be Bank Stress Test Results. On a short-term basis, we believe that pair will find some amount of support around 1.3280 and 1.3250 area initially, while area above 1.3380 handle should offer some amount of resistance.
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- Monday, 27 November 2017
- Daily Fundamental Analysis
EUR/USD Daily Forecast – 28 November
There were no data releases from Eurozone yesterday. Euro surged this morning still supported by rather good German Business Confidence released on Friday, however, pair found plenty of resistance above 1.1950 area and pulled back slightly. The drama in German politics failed to weigh much on the euro, but many see the possibility of a new Grand Coalition as constructive for the single currency. The head of the SPD Schulz will meet with Merkel on Thursday. It is not clear the price Schulz will demand.
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