The original article can be viewed on CNN Money: Dollar slumps as Trump suffers new defeat on health care
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Below you can check out a few of this year's highlights…
18.07.2017 - "It seems markets are losing confidence that President Trump will be able to deliver on his promised plans," said FXTM strategist Hussein Sayed. "Six months in office and with no major legislation signed into law, it seems that the 'The Art of the Deal' hasn't worked so far in U.S. politics."
The original article can be viewed on CNN Money: Dollar slumps as Trump suffers new defeat on health care
18.07.2017 - FXTM chief market strategist, Hussein Sayed, said that it “seems markets are losing confidence that President Trump will be able to deliver on his promised plans”. “Six months in office and with no major legislation signed into law, it seems that the “The Art of the Deal” hasn’t worked so far in US politics,” he said.
The original article can be viewed on The Independent: US Dollar slumps to 10-month low after Donald Trump’s healthcare setback
18.07.2017 - The fact that sterling sharply depreciated across the board on Tuesday, after British inflation rates unexpectedly dropped to 2.6% in June, continues to highlight how the currency has become increasingly sensitive to monetary policy speculation. Price action suggests that those who were heavily reliant on the possibility that higher rates would support sterling further were left empty-handed, as deceleration in inflation eroded expectations of a UK rate increase in 2017.
The original article can be viewed on The Guardian: UK inflation rate drops to 2.6%, but wage squeeze continues - business live
18.07.2017 - "It seems markets are losing confidence that President Trump will be able to deliver on his promised plans," said FXTM chief market strategist Hussein Sayed, in a note. "With tax reforms now likely to face huge uncertainties and economic data signaling slowing economy, it will only be a matter of time before U.S. corporate earnings take a U-turn, thus ending the equities rally."
The original article can be viewed on Marketwatch: Dollar slides as Senate GOP ditches health care repeal-and-replace bill
18.07.2017 - “Although further upside could be on the cards in the short term amidst the cautious atmosphere, the rising prospects of tighter global monetary policy may dampen the metal’s allure this quarter,” said Lukman Otunuga, research analyst at FXTM. “From a technical standpoint, bulls need a breakout and daily close above $1,240 for a further incline higher towards $1,260,” he said.
The original article can be viewed on Marketwatch: Gold aims for 3rd straight gain as dollar slips to September lows
14.07.2017 - FXTM research analyst Lukman Otunuga said in a note earlier on Friday: Although the yellow metal remains bearish on the daily charts, the Feds’ concerns of low inflation and continuous focus on ‘gradual’ rate hikes may support the zero-yielding metal. With the Dollar under noticeable pressure and political risk in Washington stimulating risk aversion, bulls could be inspired to conquer $1,230. From a technical standpoint, although repeated weakness below the $1,240 resistance is likely to keep bears in the game, a breakout above $1230 could be early signs of bulls making a
The original article can be viewed on Financial Times: Gold gets its sparkle back on dimmer US data
13.07.2017 - "With Brexit uncertainty deteriorating economic fundamentals and political risk all weighing heavily on the British pound, further downside may be on the cards," said FXTM research analyst Lukman Otunuga.
The original article can be viewed on Reuters: Sterling bounces on short covering but outlook wary
11.07.2017 - “With the absence of any top tier news and the markets waiting for further indications on the Fed’s policy when Janet Yellen testifies before Congress on Wednesday, investors and traders are currently in ‘wait and see’ mode,” said FXTM chief market strategist Hussein Sayed in a note. After the latest Fed minutes out last week, investors are still expecting the U.S. central bank to hike rates at least one more time this year, but they are waiting on clues as to the timing of the next tightening move. “Dollar bulls are counting on the Fed Chair’s
The original article can be viewed on Marketwatch: European stocks end lower as traders wait for Yellen
10.07.2017 - “It’s quite remarkable how the supply cut exemptions from some OPEC members have come back to punish the cartel, as production in June climbed to the highest level so far in 2017,” said Lukman Otunuga, research analyst at FXTM, in a daily note. “With the increasing output from Nigeria and Libya threatening to disrupt the efforts made by the rest of the group to rebalance the markets and not being something that was priced in, the price of oil could remain under pressure.”
The original article can be viewed on Marketwatch: Oil notches a gain as traders weigh output-cap prospects for Libya and Nigeria
06.07.2017 - “While uncertainty in the longer term has the ability to ensure the yellow metal remains buoyant, bulls are fighting against the tide in the short term. Gold remains vulnerable to further downside as long as prices remain below $1240. Weakness below $1220 may open a path toward $1214,” said Lukman Otunuga Research Analyst at FXTM.
The original article can be viewed on Marketwatch: Gold ticks higher as dollar weakens, central banks point to end of QE
06.07.2017 - However, FXTM Chief Market Strategist Hussein Sayedcautioned: "Overall, one report is not enough to generate a bullish market sentiment. It requires steady declines in inventories, along with a drop in drilling activities. Traders will also keep a close eye on Libya’s and Nigeria’s production, which accounted for half of OPEC’s production increase in June. Given that nothing has changed fundamentally this week and yesterday’s selloff looks mostly technical, I believe prices will stabilize for the rest of the week."
The original article can be viewed on The Telegraph: European shares sink to 11-week low and euro edges up after ECB opens door to removing bond-buying pledge
06.07.2017 - “While some Fed officials want to kick off the process for reducing the holdings of treasuries and asset-backed securities in September, others want to see more clues on inflation, which has been edging lower,” said Hussein Sayed, FXTM’s chief market strategist. “These mixed signals have kept the bulls and bears on the sidelines, and that is why it is not surprising to see a muted market reaction,” Sayed said in a note.
The original article can be viewed on Marketwatch: FTSE 100 steady as investors puzzle over Fed minutes
05.07.2017 - "Markets will also be paying very close attention to see if the minutes suggest that the recent fall in inflation is 'transitory', with suggestions of higher rates still on the cards, unless the U.S. economy decelerates," said Lukman Otunuga, analyst with FXTM Research.
The original article can be viewed on Reuters: US STOCKS-Wall St little changed ahead of Fed minutes
05.07.2017 - "As the second half of 2017 gets underway, the negative impacts of Brexit (are being) reflected in the British pound and domestic economic data," said FXTM analyst Lukman Otunuga. "Uncertainty over Brexit has exposed sterling to heavy losses and this continues to fuel inflation. With rising inflation outpacing wage growth, consumers are feeling the pinch and as such, has raised questions over the sustainability of the UK’s consumer driven economic momentum."
The original article can be viewed on Reuters: Sterling close to one-week low as data shows cooling economy
05.07.2017 - "Further downside (in dollar/yen) could be expected if uncertainty and geopolitical risk accelerate the flight to safety. From a technical standpoint, the dollar/yen has found some resistance at 113.50. A failure of bulls to secure control above this level could open a path lower back towards 111.60," FXTM research analyst Lukman Otunuga said in a Tuesday evening note.
The original article can be viewed on CNBC: Asian markets close mostly higher, shrugging off North Korea missile launch
03.07.2017 - FXTM research analyst Lukman Otunuga says traders have been reassessing the odds of a UK interest rate rise soon (for the umpteenth time): The UK’s manufacturing sector activity reading fell to 54.3 in June, marking its slowest pace of growth in three months. This disappointing report has dealt another blow to sentiment and is likely to add to the horrible cocktail of soft economic releases which is slowly illustrating the impact of Brexit.
The original article can be viewed on The Guardian: UK factory growth hits three-month low, but eurozone and US power on – as it happened
26.06.2017 - "The Fed policymakers had been broadly hawkish last week, and most of them anticipate another rate hike in 2017 (most likely in December)," said Hussein Sayed, chief market strategist at FXTM. "However, fixed-income markets are saying it's over for this year as they don't see inflationary pressures coming anytime soon. It's still too far from December, but oil prices will play a significant role on how interest rates go from here."
The original article can be viewed on Reuters: Wall St. set to open higher as oil prices recover
26.06.2017 - "This sharp depreciation, which lacks any fundamental drivers on a relatively quiet trading day has left investors bewildered," said Lukman Otunuga, research analyst, FXTM. "With the fundamentals out of the picture, price action may be the key culprit behind the decline," he added.
The original article can be viewed on Reuters: PRECIOUS-Gold falls 1 pct to hit near six-week low
22.06.2017 - ANALYST TAKE: "With depressed oil, ongoing Brexit developments and political instability in the U.S. still weighing on sentiment, a pending stock market correction could be on the cards," warned FXTM Research Analyst Lukman Otunuga.
The original article can be viewed on Yahoo Finance: Oil prices rebound modestly but concerns remain
21.06.2017 - There is no doubt that South Africa has been through the economic wringer in recent months and that the volatile fiscal policies of current government have materially impacted the long term health of the rand. - FXTM research analyst Lukman Otunuga
The original article can be viewed on City AM: South Africa now has the most volatile currency in the world