Trading news

Greenback Falls Slightly

USD
On Wednesday, the Greenback declined slightly, despite the U.S. consumer prices recording their biggest increase in nearly four years in January. Rising consumer price index has increased optimism among investors, a day after Yellen’s testimony, as she kept the chance alive for a rate hike in March. The U.S. dollar index fell slightly to 100 pips.

Gold
Gold prices rose yesterday due to uncertainty surrounding the U.S. economic policy under the new Trump administration. The yellow metal was boosted by EU's political uncertainty as Marine Le Pen, the leader of France's National Front (FN) who is calling for a “Frexit”, could win the French presidential election. In the medium term, the precious metal could settle above $1,200.

GBP
The Sterling pound declined to the weakest level in a week vs. USD, despite weak U.S. data. In addition, the UK jobless rate held steady in the three months leading up to December 2016, according to the Office for National Statistics (ONS). The Sterling pound fell to $1.24 yesterday, before touching $1.2450. Technically, Cable could re-test $1.25 during the week.

EUR
Euro settled yesterday at $1.06 vs. USD and could decline to $1.05, due to EU's political uncertainty.

Oil
Oil prices settled yesterday as U.S. gasoline and crude oil inventories soared to record highs last week. U.S. crude traded at $53 and could trade sideways during the next period.

The most important economic events:

USD Initial Jobless Claims (FEB 11): (GMT 15:30) – Medium – Forecast (245k) – Previous (234k).
USD Continuing Claims (FEB 04): (GMT 15:30) – Medium – Forecast (2058k) – Previous (2078k).
Disclaimer
The prices and news mentioned in this outlook are absolutely no guarantee of future market performance and do not represent the view of ICM Capital Limited. Financial markets can move in either direction causing profits to be made or complete losses to be incurred by the trader. Each trader must decide for themselves what their risk appetite is and ensure that correct risk management procedures are in place before placing any trades.

ICM Capital Limited Review

Thursday, 16 Feb, 2017 / 11:29

Note: Company News is a promotional service of the Directory and the content isn't created by Finance Magnates.

Source : http://www.icmcapital.co.uk/news/company/2017-02-16/

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