Khurram Mustafa / Profile
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Khurram Mustafa
Published post USDJPY
USD/JPY dropped further during the American session and felt o121.50, where it finally found support. Currently it trades at 121.60/65, marginally higher for the day. Despite the retreated that is taking place during the American session the trend and momentum remains bullish...
Khurram Mustafa
Published post AUDUSD Watch
Analysts at UOB Group noted that the RBA's Governor Stevens told an audience yesterday that the next monetary policy move is more likely to be a cut than a hike. Key Quotes: "Reiterating his message from Tuesday when the central bank left the cash rate on hold at a record-low of 2.0...
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Khurram Mustafa
Published post According to Chief Analyist
Valeria Bednarik, chief analyst at FXStreet explained that the EUR/USD pair has recovered from a fresh multi-month low set at 1.0833 during the Asian session, initially falling on a strong advance in local share markets...
Khurram Mustafa
Published post GBPUSD - 3 week low
GBP/USD paused the decline and managed to recover a few pips following the Bank of England ‘Super Thursday’ combo (monetary policy decision/statement/minutes/Quarterly Inflation Report...
Khurram Mustafa
Published post Dec Hike
James Knightley, analyst at ING Bank noted that the firm US data yesterday and supportive comments from Janet Yellen suggest the chances of a December Fed rate hike are rising. Key Quotes: "The October reading of the ISM non-manufacturing report looks very strong...
Khurram Mustafa
Published post Wait & See
Strategist Emile Cardon at Rabobank believes the SNB could wait until the franc comes under significant pressure to announce additional measures (if any at all...
Khurram Mustafa
Published post GBPUSD
From an hourly perspective, the GBP/USD has reached its lowest momentum reading of the last 20 days of trading. Moreover, the recent plummeting GBP/USD price action has been highlighted by an above-average reading in the MACD histogram...
Khurram Mustafa
Published post Fed's Fkirst Rate
Economists from Wells Fargo pointed out that inflation expectations continue to ease further but mentioned that low inflation is not necessarily a reason to put the Fed’s first rate hike off even further, warning also that still remains a strong argument to move slowly in the case of a liftoff...
Khurram Mustafa
Published post EURUSD
After another rejection from the 1.0900 handle, EUR/USD has now returned to the 1.0870/65 band. EUR/USD capped by 1.0900 The pair’s downside seems to have found some support around 1.0830, although the broader bearish picture remains unaltered so far...
Khurram Mustafa
Published post USDCAD
USD/CAD edged slightly higher but overall remained well within its daily range as the loonie weakened following the release of below expectations Canadian manufacturing data. The Ivey Purchasing Manager PMI fell to 53.1 seasonally adjusted in October, from 53.7 the previous month and below the 54...
Khurram Mustafa
Published post Mexican Currency
The perspective for the Mexican currency remains neutral, suggested BofA Merrill Lynch Global Research. Key Quotes “We stay neutral on the Mexican peso”. “The secular strengthening trend of the US dollar will continue, in our view”...
Khurram Mustafa
Published post eurcad
The Canadian dollar is trimming part of its initial losses vs. the euro, taking EUR/CAD to test the key support at 1.43 the figure. EUR/CAD lower on data The cross has retreated from the area of daily tops near 1.4350 after Canadian Ivey’s PMI has ticked lower to a seasonally adjusted 53...
Khurram Mustafa
Published post AUDUSD
The outlook on the Aussie dollar in the near term remains tilted to the neutral side, according to Strategist Sean Callow at Westpac...
Khurram Mustafa
Published post GBP Against USD
The sterling is now accelerating its daily decline vs. the greenback, relegating GBP/USD to trade in 3-week lows near 1.5230. GBP/USD much weaker post-Carney, BoE The pound has been hammered as the BoE has removed any hopes of an early rate hike at today’s meeting...
Khurram Mustafa
Published post AUDUSD Turns Positive
AUD/USD advanced to fresh daily high at the beginning of the American session as the greenback weakened somewhat following the release of soft US data...
Khurram Mustafa
Published post US UNDEX
The US Dollar Index, which tracks the greenback vs. its main rivals, is now trading almost unchanged, retracing the earlier spike to the 98.20 area. US Dollar in 3-month peaks The index is looking to consolidate the recent advance to the 98...
Khurram Mustafa
Published post Gold Recover Losses In US Session
Gold prices recovered losses in the US session after a batch of weak US data, but gains remained muted ahead of Friday’s non-farm payrolls...
Khurram Mustafa
Published post GBP Underperforms - Scotiabank
GBP is underperforming following the BoE’s Super Thursday (decision/statement/minutes/Inflation Report) with a less hawkish shift hinting to the emergence of a gap between the normalizing Fed and a BoE that appears set to remain on hold for longer than previously expected, said Eric Theoret, FX S...
Khurram Mustafa
The upside momentum in the USD/JPY pair stalled at 122.00, making way for a fall back to 100-DMA at 121.76 levels. USD pares gains on uptick in jobless claims The USD pared gains after the last week’s jobless claims in the US printed at 276K compared to the expected print of 262K...
Khurram Mustafa
Published post Gold Approaches 1100
The yellow metal is falling sharply on Wednesday amid a stronger US dollar on rising expectations about a rate hike by the Federal Reserve in December. The ounce broke below yesterday’s lows at $1,114.30 and dropped further. Recently bottomed at $1106.60 hitting the lowest level since October 2...
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