Weekly analysis – _ gcmasia


The greenback closed lower last Friday after U.S. Hex editor windows employment report shows an accelerated job growth while wage growth remains tepid, which may cause the Federal Reserve to adopt a more cautious approach on raising interest rates this year. Alphabet in binary The dollar index was down 0.14% to 99.69 during late Friday session. Python print variable For the week, the index has recorded a loss of 0.69%, marking six consecutive weekly decline.

The Labour Department reported that the economy has generated 227,000 jobs in January while unemployment rate ticked up by 0.1% to 4.8%. Dollar to british pound exchange rate Average hourly earnings however, rose only 2.5% in January, subduing previous pick up of 2.8% in December. Conversion of inr to usd The slowdown in wage growth has prompted wider speculation that the Fed may avoid hiking interest rates too quickly this year while waiting for further economic data for reassurance.

In its latest monetary policy statement, the Fed postulate that the economy is strengthening although gave no clear signal on the timing of next rate hike as officials awaits further possible economic impact under Trump’s administration which adopt protectionist approach.

The greenback slipped against the yen with USD/JPY down 0.13% to 112.64 last Friday. Usd exchange rate forecast The pair ended the week with a loss of 1.75%, its worst weekly performance since last June.

Gold prices ended higher on Friday after the release of U.S. Market futures after hours jobs report that shows a slower wage growth which dampened the market expectation for a more rapid interest rate hike this year. Asian market futures Price of the yellow metal was up 0.2% to $1,221.85 during Friday’s American trading hour.

The safe haven asset was 2.14% higher for the week as the dollar remained under pressure amid ongoing concerns over Donald Trump’s presidential style and lack of clarity on rate hikes. Binary arithmetic calculator In an event of a stronger dollar and higher interest rates, gold price will be under pressure whereby it is denominated in dollar and struggles to compete with yield bearing assets when borrowing costs arises.

Oil futures finished last week higher as traders cheered further signals of tightening in global supply after the initiation of daily production cut by major crude producers. Code c Furthermore, news on U.S. Stock connect morgan enforcement of sanctions on some Iranian individuals and entities has further supported the gains after the White House place Tehran on the watch list for ballistic missile test. Investing aud usd Last Friday, crude oil price was up 0.6% and ended at $53.93 a barrel. Solving problems by finding equivalent ratios For the week, it has recorded some mild gains of 66 cents of 1.2%.

Oil prices was boosted after Russian Energy Minister Alexander Novak said that crude producers had cut their output as agreed under a term with OPEC, signalling further signs of compliance to rebalance the oil market. Usd exchange rate today As of last month, a total of 1.4 million barrels were trimmed per day as the part of the deal. Binary to If carried out as planned, the deal is estimated to reduce global supply by about 2%.

On the other hand, oilfield services provider Baker Hughes said late Friday that the number of rigs drilling for oil in the United states has increased by 17 to 583. Qar to usd exchange rate The data raised concerns among investors that the ongoing rebound in U.S. Usd vs inr forecast 2016 shale production may derail efforts by other major producers in rebalancing global oil supply and demand.

For the week, China is bound to release data on service sector activity and trade while a report on German factory orders will be in focus for the euro zone.

Jpy news United States will release their monthly trade figures in a rather thin week of economic data.

Otherwise, oil traders will keep an eye on fresh weekly information regarding U.S. Gender roles in society stockpiles of crude and refined products on Tuesday and Wednesday to gauge the current strength of supply and demand. Canadian dollar in us dollar In addition, they will place their focus on International Energy Agency’s monthly report for further evidence on global supply and demand levels.

DOLLAR_INDX, Daily: The dollar index extended its losses following previous formation of death cross by both moving average line. Usd into pounds As both lines continue to expand downwards, the dollar index is suggested to advance further downwards and retest near the strong support level near 99.20.

GBPUSD, Daily: GBPUSD was traded lower following previous retrace from the strong resistance level near 1.2715. Yahoo futures market The MACD indicator begins to hover outside of upward momentum suggests GBPUSD to be traded lower in the short-term, towards the support level of 1.2330. Binary to english Long-term trend direction still suggests GBPUSD to advance further upwards after a successful closure above the resistance level of 1.2540.

USDJPY, Daily: USDJPY continued its downtrend following the downward expansion of both moving average line after the formation of death cross. Euro 2016 today match As USDJPY remains pressured by both lines, it is suggested to advance further downwards towards the target of support level at 111.35.

EURUSD, Daily: EURUSD extended its gains following previous formation of golden cross by both MA lines. Euro usd news As both lines continue to expand further upwards, it is expected to advance further upwards and retest near the strong resistance level of 1.0835.

GOLD_, Daily: Gold price was traded higher after a rebound from the support level of 1182.15 while recently closed above the strong resistance level of 1219.00. Usd jpy forecast 2016 As both MA lines continues to expand upwards after the formation of golden cross, gold price is expected to advance further upwards, towards the target of resistance level at 1248.80

CrudeOIL, Daily: Crude oil price continued to be traded within the range of 52.15 and 54.35 following previous rebound from the bottom level of the range. 1 usd to inr In the short-term, it is expected to advance further upwards and retest near the resistance level of 54.35. Rmb to usd calculator Long-term trend direction could only be determined following a successful breakout from either side of the range.