Fundamental Analysis – 05/02/2016

Feb 05


  • BY:
  • February, 05th, 2016 0:08 +00:00

Good Morning,

GBP traded close to 1.4700 against USD on many occasions, and failed to move above it. USDCHF is trading at 0.9926 while USDCAD is trading at 1.3755.

The unexpected reversal in crude oil prices spurred further USDCAD weakness. EURUSD is struggling in a battle between both market forces the pair has a trading range to break. Gold prices have continued to eke out further gains yesterday. It was chatter of 6 OPEC members agreeing to an emergency meeting that ramped crude. EURCAD is trading at 1.5413 while EURGBP is trading at 0.7682.

NZD produced the largest daily rally in nearly 11 months against its US counterpart, breaking out of its two-week range to breach the 0.6600 figure. The weaker USD continues to drive up commodity prices, keeping AUD, NZD and CAD well supported. It may not be a terrible idea to consider taking a small speculative short USDJPY position ahead of the payrolls report. GBPCHF is trading at 1.4471 while EURCHF is trading at 1.1123.

Daily Performances (4.00 am. GMT);

Currencies / Indices / Commodities Performance
NZDUSD 0.84%
GBPJPY -          1.09%
AUDUSD 0.37%
USDCAD -          0.17%
EURGBP 1.08%
CAC 40 Index 0.04%
IBEX 35 Index 1.85%
Euro Stoxx 50 Pr 0.30%
FTSE 100 Index 1.06%
Swiss Market Index -          1.48%

I hope you all have a nice day.

All the figures are as at the writing time.