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Written by Imran Allana
Forex Analysis - 24th October 2014
GBPUSD technical analysis
GBP/USD traded a 1.6022/38 range in the Asian trading session. Preliminary GDP q/q figures released this morning showed economic expansion of 0.7%, which was on market expectation, but down on the previous revised figure of 0.9%. As a result, Cable moved higher to hit a session high of 1.6072 so far.
Gold (XAU) technical analysis (chart)
Gold dipped for a third session in a row and was set to snap a two week winning streak as a firmer USD and robust economic data dented the metals appeal as a hedge. Bullions dip comes despite a tumble in US stock futures and gains in other safe-havens such as bonds and the yen after a doctor in New York tested positive for Ebola. Currently the precious metal is finding resistance at $1234 and trades now at $1232.
Soybeans (Soy) technical analysis (chart)
United Kingdom & Euro Zone
Sunday 26th October 2014
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Written by The easy-forex team
Weekly Outlook - 20th October 2014
The Australian dollar had a mixed performance during last week against the U.S. dollar, mainly due to economic developments and results from the world’s largest economy, and risk seekers following the AUD/USD enjoyed some price action full of volatility. However, Reserve Bank of Australia (RBA) policymakers often refer to the Aussie as overpriced and expect the AUD/USD’s rate to drop.
RBA Governor Glenn Stevens and other Bank’s board members pointed that the AUD’s value could weaken parallel to, or as a result of, the devaluation of important commodity prices. The Aussie has always been linked with the performance of commodity prices such as iron, coal, gold, and crude oil as these make the bulk of Australia’s export market, and therefore that is why it is known within the markets as a “commodity currency”. This implies that drops in commodity prices and/or reduced demand for those by China, Australia’s largest export partner, make the Australian dollar vulnerable.
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