British Pound Snoozes through Brexit Fireworks
GBP/USD continues to drift this week. In Wednesday’s North American trade, the pair is trading at 1.3207, up 0.01% on the day. On the release front, British CBI Realized Sales shocked with a reading of -18, compared to the forecast...
Japanese Yen Dips, Consumer Data Ahead
USD/JPY has edged higher on Wednesday. In the North American session, the pair is trading at 110.32, down 0.28% on the day. On the release front, there are no Japanese indicators. In the U.S., the trade deficit narrowed to $51.1...
USD/MXN Reclaims Key Level
The USD/MXN is another EM currency pair we are monitoring after we identified bullish characteristics on the USD/INR and USD/CNH previously. The USD/MXN’s temporary break of its bullish trend line earlier this month must have trapped a few bears. This...
The Bank of England: A Forex Trader’s Guide
The Bank of England (BOE) is the UK’s central bank. Their mission is to promote and maintain monetary and financial stability. It is important for forex traders to keep up to date with the Bank of England’s latest changes to...
USD/CNH: Potential Bullish Reversal
Last week, we wrote about the Indian Rupee which had created a potential topping pattern as the USD/INR dropped to test a key technical support area. While the USD/INR hasn’t been in a rush to bounce away from this area,...
Sterling Higher ahead of Brexit Indicative Votes, Yen Higher as Treasury Yields Extend Slump
Indicative votes on Brexit alternatives in the UK House of Commons will catch most attention ahead. Debate is due to start by 1500GMT. We’ll see what alternative Brexit path could gain majority in the Parliament. House of Commons Speaker John...
US efforts to cut trade deficit show biggest win in almost a year
The trade deficit between the U.S. and its global partners dropped sharply in January to $51.15 billion as exports rebounded from a slowdown at the end of 2018, the Commerce Department reported Wednesday. Economists surveyed by Dow Jones had forecast...
US trade deficit narrows sharply in January as China purchases of soybeans jumps
The trade deficit between the U.S. and its global partners dropped sharply in January to $51.15 billion as exports rebounded from a slowdown at the end of 2018, the Commerce Department reported Wednesday. Economists surveyed by Dow Jones had forest...
EUR/JPY Decline Likely To Continue
The single European currency tested a resistance cluster formed by the weekly and the monthly PPs at 124.95 during the previous trading session. After hitting the resistance cluster, the currency pair began to depreciate. At the end of yesterday’s trading...
Currencies: Dollar Outperformance Despite Soft Data
Rates: Will the bond rally resume after yesterday’s easing?The rally in global core bonds took a breather yesterday. Yields rose a few basis points. US Treasuries underperformed despite disappointing US housing data and weaker consumer confidence. Risk sentiment remains key...