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USD/JPY upside could struggle near 118.70 – Commerzbank

FXStreet (Edinburgh) – Karen Jones, Head of FICC Technical Analysis at Commerzbank, sees occasional bullish attempts to run out of legs near 118.70.

Key Quotes

USD/JPY has once again sold off to support circa 116.30/115.50”.

“Intraday rallies are indicated to struggle 118.70. This guards the 121.70 recent high”.

“Downside risks have increased, however we will need a close below 115.50 to break the market free from its recent range”.

Karen Jones, Head of FICC Technical Analysis at Commerzbank, sees occasional bullish attempts to run out of legs near 118.70…

(Market News Provided by FXstreet)

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USD positioning remains constructive – ANZ

FXStreet (Edinburgh) – Senior FX Strategist at ANZ Irene Cheung has assessed the last USD positioning report.

Key Quotes

“Leveraged funds reduced their net long USD positions by USD1.5bn to USD22.6bn in the week ended 2 February, reversing the gain in the previous week”.

“Positioning in the ICE US Dollar Index, however, saw a small gain of USD0.1bn in net USD longs to USD4.4bn”.

“At any rate, price action since then suggests a substantial pare-back of net
USD longs, only to be followed by some rebuilding last Friday on the back of a good US payroll report”.

Senior FX Strategist at ANZ Irene Cheung has assessed the last USD positioning report…

(Market News Provided by FXstreet)

The post USD positioning remains constructive – ANZ appeared first on forex-analytics.press.

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USD positioning remains constructive – ANZ

FXStreet (Edinburgh) – Senior FX Strategist at ANZ Irene Cheung has assessed the last USD positioning report.

Key Quotes

“Leveraged funds reduced their net long USD positions by USD1.5bn to USD22.6bn in the week ended 2 February, reversing the gain in the previous week”.

“Positioning in the ICE US Dollar Index, however, saw a small gain of USD0.1bn in net USD longs to USD4.4bn”.

“At any rate, price action since then suggests a substantial pare-back of net
USD longs, only to be followed by some rebuilding last Friday on the back of a good US payroll report”.

Senior FX Strategist at ANZ Irene Cheung has assessed the last USD positioning report…

(Market News Provided by FXstreet)

The post USD positioning remains constructive – ANZ appeared first on forex-analytics.press.

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Gold hits fresh 3-1/2 month highs, nears $ 1180

Gold futures on Comex brought an end to its corrective mode and resumed last week’s rally as risk-aversion heightened this session amid falling oil and stocks.

Gold rises nearly $12 post-European open

Currently, gold jumps 1.63% to fresh multi-month highs at 1176.80 last minutes. The demand for the safe-haven gold was on the rise during the European session as investors’ confidence was once again rattled by the renewed sell-off seen in the oil prices, which also weighed heavily on the European equities. Both oil benchmarks are down over -2%, while the European indices are also heavily sold, over -2.5%.

Moreover, markets are speculating a Fed rate hike directly at its Dec meeting, which further added strength to the gold’s rally. Meanwhile, the US dollar index trades modestly flat at 96.95.

In the day ahead, the broader market sentiment will continue to drive the yellow metal as the macro calendar remains light today. While attention remains on Wednesday’s Fed Chair Yellen’s testimony on the Semi-annual Monetary Policy Report before the Senate Banking Committee.

Gold Technical Levels

The metal has an immediate resistance at 1180 (Oct levels) and 1185 (round number). Meanwhile, the support stands at 1160 (round number/ 5-DMA) below which doors could open for 1155.

Gold futures on Comex brought an end to its corrective mode and resumed last week’s rally as risk-aversion heightened this session amid falling oil and stocks.

(Market News Provided by FXstreet)

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European stock markets mid session: stocks traded lower on speculation that the Fed will delay its further interest rate hikes

Stock indices traded lower on speculation that the Fed will delay its further interest rate hikes after Friday’s release of the U.S. labour market data. According to the U.S. Labor Department, the U.S. economy added 151,000 jobs in January, missing exp…

The post European stock markets mid session: stocks traded lower on speculation that the Fed will delay its further interest rate hikes appeared first on forex-analytics.press.

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European stock markets mid session: stocks traded lower on speculation that the Fed will delay its further interest rate hikes

Stock indices traded lower on speculation that the Fed will delay its further interest rate hikes after Friday’s release of the U.S. labour market data. According to the U.S. Labor Department, the U.S. economy added 151,000 jobs in January, missing exp…

The post European stock markets mid session: stocks traded lower on speculation that the Fed will delay its further interest rate hikes appeared first on forex-analytics.press.

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