Iforex daily analysis _ october 11, 2016 _ investing. com usd to korean won


The dollar held onto gains against the other major currencies on Monday, hovering close to a two-month peak, as hopes for a U.S. What is us currency rate hike before the year end continued to support.

Trading volumes remained thin, with most banks and federal institutions closed for the Columbus Day holiday and no major data releases are on tap for Monday.

Elsewhere, the pound erased the sharp losses posted on Friday but remained under pressure amid sustained concerns over a ‘hard Brexit’ for Britain.

While the commodity-related currencies strengthened as oil prices moved sharply higher on Monday, after Russian President Vladimir Putin said his country is prepared to join an oil-output deal which may include a production freeze or cut.

Today in the euro zone the ZEW Institute is to report on German

economic sentiment, while in the U.S., Minneapolis Fed President Neel Kashkari is to deliver comments at 15:00GMT. Aud to usd chart GBP/USD

On Monday the sterling was down only 0.3% against the dollar at $1.2324, in the wake of Friday’s “flash crash” that sent it hurtling to its lowest levels in 31 years.

Yesterday Marc Chandler, global head of currency strategy at Brown Brothers Harriman, commented the event like this: “Economic data does not help very much to explain sterling’s movement. Average exchange rate usd to cad 2015 The fact of the matter is that the UK has fared well in the three and half months since the referendum, but now the depreciation of sterling will have an impact on the UK current account balance. Gbp usd rate today It will be reduced, but do not be surprised if it comes from reduced volume of imports as much as an increase in value of exports”.

Gold ChartPivot:1250.2Support:1250.21240.51235Resistance:126512771287Scenario 1:long positions above 1250.20 with targets at 1265.00 & 1277.00 in extension.Scenario 2:below 1250.20 look for further downside with 1240.50 & 1235.00 as targets.Comment:the RSI lacks downward momentum.

Oil prices added to strong gains on Monday, after Russian President Vladimir Putin said his country is prepared to join an oil-output deal which may include a freeze or cut to output.

Speaking at the World Energy Congress in Istanbul Monday, Putin said he hoped OPEC would agree on limits to its crude production in November and that Russia was ready to support that decision. Australian us dollar exchange rate Russia will continue to be a reliable energy supplier, he said. Exchange rate us to canada Putin’s bullish comments came after Saudi Arabia’s Energy Minister Khalid al-Falih said he was optimistic a production deal could be reached by November and that it wasn’t “unthinkable” that crude prices could rise another 20% this year to $60 a barrel.

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