Markets Fall Out of Love for Dollar and Stocks on Huge Retail Sales Miss
The greenback and US stocks quickly reversed gains after US retail sales for the month of December posted the biggest drop since 2009. The biggest market reaction on the softer data was the move in Treasuries, with the 10-year yield Treasury...
GBPCAD Builds Base around 50.0% Fibonacci; Remains in Upward Range
GBPCAD hit the 1.6970 support again following last week’s pullback from the 1.7270 resistance level, slipping below the 20-and 40-simple moving averages (SMAs) in the daily timeframe. The pair has been trading within an ascending sloping channel over the last...
Goldman Sachs’ cash business could completely change the game
Boring, mundane, routine. These are all words that I’ve heard to describe dependable transaction services. Given the number of fintechs now encroaching on banks’ transaction businesses this is hardly true. Fintechs have been paving a new way for transaction services...
What Does a Forex Spread Tell Traders?
Forex spreads explained: Main talking points Spreads are based on the buy and sell price of a currency pair. Costs are based on forex spreads and lot sizes. Forex spreads are variable and should be referenced from your trading platform....
Brent Crude Oil Futures Advance above Ascending Channel; Reach 3-Month Peak
Brent crude oil futures are holding slightly below the three-month high of 64.80 after the aggressive bullish run above the ascending sloping channel. The MACD oscillator suggests that the market might improve in the coming sessions as it is moving...
Dollar Dives as Retail Sales Dropped Most in 9-Years, But GBP and CAD Even Worse
Dollar suffers steep selloff in early US session after shockingly poor retail sales data. The release of December’s sales was delayed due to government shutdown. And we’ve finally got some clues on how bad the US economy performed on double...
GBP/USD: Weakens On Further Bear Pressure Towards 1.2720 Zone
GBPUSD weakens on further bear pressure towards 1.2720 zone following its Wednesday losses. Support sits at 1.2750 level. Further down, support comes in at the 1.2700 level where a break will turn focus to the 1.2650 level. Further down, support...
Canadian Dollar Quiet ahead of Manufacturing, Retail Sales
USD/CAD is showing little movement in the Thursday session. Currently, the pair is trading at 1.3268, up 0.09% on the day. On the release front, Canada releases manufacturing production, which is expected to rebound with a gain of 0.3%, after...
DAX Climbs as Investors Optimistic about US-China Talks
The DAX index continues to gain ground this week. In the Thursday session, the DAX is at 11,192, up 0.23% on the day. On the release front, German Preliminary GDP improved to 0.0%, shy of the estimate of 0.1%. Eurozone...
EUR/USD Brakes Small Pattern
The European Single Currency passed through the strong support level of the small pattern line at 1.1309. On Thursday morning, the rate was resisted by the 55-hour and the 100-hour SMAs to push the rate to the 1.1265 mark. Note,...
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