Weekly Focus – More Weakness ahead Before Relief
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EURJPY Looks To Recover Further Higher Towards 125.08 Zone
EURJPY looks to recover further higher towards 125.08 zone as it eyes price extension. Support comes in at the 124.50 level where a break if seen will aim at the 124.00 level. A cut through here will turn focus to...
Canadian Inflation Surprised to the Upside in December (Airfares Again!)
Highlights: Headline CPI inflation unexpectedly jumped to 2.0% in December from 1.7% in November. Airfares rose 22% month-over-month with methodology changes to that component causing volatility over the second half of 2018. July’s 16% increase was subsequently retraced in September,...
The record government shutdown, if not resolved soon, could be ‘fodder for recession’: Moody’s
American consumers could lose faith in the economy if federal workers don’t go back to work soon, Moody’s Analytics chief economist Mark Zandi warned Friday. “If this drags on into February, March, then growth rates are going to fall to...
Consumer sentiment drops to lowest level since 2016 US election
Consumer sentiment dropped to its lowest level since before the U.S. presidential election in 2016 amid growing concerns over U.S. economic growth, according to data released Friday. The University of Michigan consumer sentiment index fell to 90.7 this month —...
Canada: Air Travel Drives a Modest Climb in December Inflation
Canadian consumer price inflation was 2.0% y/y in December, up a bit from November’s 1.7% pace. Markets were looking for a repeat of November’s 1.7% pace. On a seasonally-adjusted basis, prices were up 0.2% month-on-month. Much of the acceleration can...
Canadian Dollar Jumps on CPI and Oil, Sterling Pares Gain after Weak Retail Sales
Canadian Dollar strengthens mildly in early US session and is trading as the strongest one for today so far. Recovery in oil price has been supporting the Loonie through the day. And, further lift is given by stronger than expected...
EURGBP Pares Some Losses after Strong Sell Off in Near Term
EURGBP has been erasing the strong bearish rally that was created the previous six consecutive days, sending prices towards a new two-month trough of 0.8758. The stochastic oscillator is suggesting a positive retracement as the %K line jumped above the...
AUD/USD Outlook: US/China Optimism Keeps Aussie Afloat Despite Repeated Rejections At Cloud Base
The trades within narrow range on Friday, but the sentiment remains positive on US/China talks optimism, keeping the downside limited. Thursday’s spike to 0.7221 following a news report was short-lived and the action again ended below daily cloud base, which...
US 30 Index Crosses Above 50-Day SMA, Neutral In Short-Term
The US 30 index staged a major recovery in recent weeks, after touching an 18-month low on December 26. Price action is now taking place back above the 50-day simple moving average (SMA), which suggests the near-term outlook has shifted...
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