Market Overview

The situation on the markets is stabilizing.

Technical Analysis
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Market Overview

During the Asian trading day the Yen weakened its positions. A fundamental and lasting factor for the weakening at the moment is the political situation, since Prime Minister Shinzo Abe decided to hold early elections.

Yesterday we observed the weakening of the dollar, despite the fact that the United States GDP grew by 3.1% in the second quarter, although according to previous estimates, the growth was 3%. Growth was compensated by indicators on the labor market. However, the likely increase in interest rates and the new tax reform voiced by Trump prompted investors to give a preference to the dollar over the gold. At the moment Gold is trading near the lowest level since August.

Brent crude oil has moved away from a six-month high and is now trading at a price of $57.13/bbl.

The British pound has also moved away from the highs and is currently trading near the 1.34 mark.

SuperForex
GBP/JPY Technical Analysis & Daily Chart

Technical Analysis

GBP/JPY Technical Analysis & Daily Chart

The pair is currently volatile, but we believe it holds the potential for further growth.

SuperForex
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USD/CAD Technical Analysis

Technical Analysis

USD/CAD Technical Analysis

SuperForex
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EUR/SGD: Fundamental Review & Forecast

Technical Analysis

EUR/SGD: Fundamental Review & Forecast

The results from the elections in Germany negatively iimpacted the EUR, though it still has a potential for stabilizing.

SuperForex
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