Daily Technical & Fundamental Analysis

Large funds resume bitcoin sales on CBOE
08 October, 2018 11:04

Large funds resume bitcoin sales on CBOE

Non-commercial traders raised net short position for bitcoin contracts 120 to 1,300. Large speculators have expanded net positions after a 6-week decline over the past 9 weeks.  The net position has recovered from the bottom since the start of futures trading last December. As for nonreportable positions, net long positions on bitcoin contracts hiked by 80 to 1,320. Open interest dropped by some 250 to 4,060 contracts. Bullish index of large speculators (short and long positions) decreased 0.06 to 1.71 over the period under review.

US dollar still enjoys Federal Reserve support
03 October, 2018 16:02

US dollar still enjoys Federal Reserve support

The US dollar has shown a somewhat weaker demand in the mid-week, though it maintains firm positions. The euro in its turn got slight support from the reports about the budget discussion in Italy. In particular, the Italian government reportedly intends to reduce the budget deficit in line with the EU requirements. However, the tensions generally persist...

Euro shows some jump driven by UK economic reports
02 October, 2018 16:49

Euro shows some jump driven by UK economic reports

The US dollar is reportedly enjoyed better demand during the European trading session. Specifically, market speculators raised buying for Australian dollar following the decision of the Reserve Bank of Australia, which plans to leave the monetary policy unchanged for the rest of 2018.

Yen still directed downwards
01 October, 2018 14:29

Yen still directed downwards

The Japanese started this week with a decline against the US dollar. According to the market data, the US dollar-to-yen exchange rate stands now at 113.98. Japan released numerous economic reports on Monday. In particular, Tankan Q3 PMI for large manufacturers was recorded at 19, while the expectations had been voiced at 22.

Weekly analysis for GBP-USD – COT
01 October, 2018 11:31

Weekly analysis for GBP-USD – COT

The Commodity Futures Trading Commission (CFTC) released the Commitments of Traders (COT) for the week ending last Tuesday. Non-commercial traders raised net short position on GBP/USD contracts 10,600 to 64,600. Large speculators have cut net positions following a week upturn. Net short positions started sliding from the highs recorded last May.

Sentiments towards bitcoin trading improves on CME
01 October, 2018 11:07

Sentiments towards bitcoin trading improves on CME

The Commodity Futures Trading Commission (CFTC) released the Commitments of Traders (COT) for the week ending last Tuesday. Non-commercial traders raised net short position on bitcoin contracts 50 to 330. Large speculators have started cutting net positions after 2-week upturn. The net position has left its early-September peak.

Euro ends week below 1.16
28 September, 2018 17:25

Euro ends week below 1.16

The euro has shown mixed dynamics this week. Specifically, the current hit the mid-June peaks at 1.18 and then collapsed to 1.1670 and lower. Technically, the observed plunge below the 1.16 handle is believed to be a bearish signal and may mean that the rate can test the further psychological level of 1.15.

Euro eventually reacts against Italian issue
27 September, 2018 16:08

Euro eventually reacts against Italian issue

The euro has eventually responded to the Italian political issues in a time when the situation got tense. It failed to resist buyers' pressure fueled by the recent interest rate revision by the US Federal Reserve. At present, the euro-to-US dollar rate has been sliding for the second day in a row, falling already below 1.17 handle.

Sterling under restrained pressure, Brexit getting toxic
26 September, 2018 16:04

Sterling under restrained pressure, Brexit getting toxic

The sterling has resumed slackening after the previous strengthening. However, this time it faces restrained pressure, which is mostly related to generally slower trading on the US Federal Reserve meeting. As for the sterling-to-US dollar rate, it failed to exceed the 1.32 handle and summoned profit taking in the market.

Greenback awaits US Fed meeting
25 September, 2018 16:48

Greenback awaits US Fed meeting

The US dollar stays uncertain on Tuesday. The currency shows some weakening vs the European currencies. In particular, the euro got some support from the comments of Mario Draghi recently, when the chairman of the European Central Bank pointed out possible boosting of core inflation and thus summoned euro hikes.

This week brings two key developments to influence euro-to-US dollar rate
24 September, 2018 15:34

This week brings two key developments to influence euro-to-US dollar rate

The US dollar is again depressed in trading in Europe. The currency keeps gradually recovering vs the yen, which is lower affected by increasing state-bond yield. The sterling is said to stay below the 1.31 handle following the collapse to 1.3050 last Friday on the UK Prime minister's statement. The markets became upset after Theresa May message.

Weekly analysis for GBP-USD – COT
24 September, 2018 12:01

Weekly analysis for GBP-USD – COT

The Commodity Futures Trading Commission (CFTC) released the Commitments of Traders (COT) for the week ending last Tuesday. Non-commercial traders raised net short position on GBP/USD contracts 17,900 to 75,200. Large speculators have started raising net positions following 2-week weakening. Net short positions were above the end-August level posting the peak since last May.