Copper’s Failed Break Could See Further Downside
We had higher hopes for copper after it broke out of its multi-month range. Yet, having failed its quest to hold above key support and trade back within range, bearish ears have perked. The break back below $2.87 has effectively...
Gold Price Uptrend Facing Many Hurdles
Key Highlights Gold price started a solid upward move from the $1,282 support against the US Dollar. There is a significant ascending channel formed with support at $1,308 on the 4-hours chart of XAU/USD. The US Trade Balance in Jan...
The Turkish Delight That Bites
The Turkish delight that bites Yesterday’s Turkish travails are hinting at the pressure emerging markets may face later in the year as the global economy slows. The cost of borrowing Turkish Lira (TRY) for offshore parties rose to over 1000%...
US FX Handover
Parliament is currently voting on a series of non-binding “indicative” votes on the future path for Brexit, while some Euroskeptic lawmakers agree to support PM May’s deal in exchange for her resignation. Uncertainty still reigns supreme, though the pound was...
Watch the CEOs of Wells Fargo and Mastercard discuss payments and the future of banking
[The stream is slated to start at 6:45 p.m. ET. Please refresh the page if you do not see a player above at that time.] Wells Fargo CEO Tim Sloan and Mastercard CEO Ajaypal Banga are set to discuss the...
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,...
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