Bank of Canada Rate Hold Comes with a Growth Downgrade
Matching expectations, the Bank of Canada held its overnight interest rate unchanged at 1.75% this morning. The tone of accompanying communication tilted dovish, perhaps more than markets anticipated given the immediate further decline in yields and the dollar. Compared with...
Elliott Wave Update: EURAUD Aiming Towards 1.61 – 1.62
AUD may stay weak, if we consider a bullish continuation on EURAUD for wave C within a big expanded flat correction. That said, seems like EURAUD is trading in an impulsive five-wave rise back to a previous wave A swing...
A Guide to Support and Resistance Trading
Learn how to trade using support and resistance levels Support and resistance is a powerful pillar in trading and most strategies have some type of support/resistance (S/R) analysis built into them. Support and resistance tends to develop around key areas...
Blue bonds get boost from TNC and World Bank
Ocean conservation finance (blue finance) took a large step forward in April on the back of two announcements. The first came from The Nature Conservancy (TNC), which revealed its plans to put $1.6 billion to work towards marine conservation through...
Euro Weakens as German 10-Year Yield Threatens to Turn Negative, Swiss Franc Rebound
Swiss Franc regains much ground today in mixed financial markets. Optimism over US corporate earnings had virtually no impact in Asian and European markets. Instead, European stocks turned mixed after German Ifo business confidence turned south again after brief recovery...
Dollar Continues March Higher as the Stock Rally Pauses
The dollar continues to march on higher, while global yields fell as markets await the next wrath of earnings. The S&P 500 and Nasdaq both closed above their prior record high closes yesterday and investors are continuing to run to stocks...
USDTRY Challenges 6-Month High, Trades Well Above SMAs
USDTRY has advanced above the 20- and 40-day simple moving averages (SMAs) and the 23.6% Fibonacci retracement level of the sell-off from 7.1135 to 5.1330, hitting a new six-month high of 5.8753. Looking at the technical indicators, the stochastic is...
European Update – US Earnings Fail To Lift Stocks
Market bounce quickly fades after encouraging earnings We’re seeing another mixed session in Europe on Wednesday, with stocks here and in Asia clearly not encouraged by the earnings reports in the US that prompted a record close in the S&P...
GBP/USD Outlook: Bears Consolidate Above New 2-Mth Low After Eventual Break Below Key 200SMA Support
Cable hit new two-month low at 1.2914 on Wednesday, in extension of previous day’s strong fall, mainly driven by rallying dollar and soured sentiment on no substantial changes in stalled Brexit talks. Tuesday’s break and close below key supports provided...
Wirecard shares jump 7% on a $1 billion investment from SoftBank
SoftBank will invest 900 million euros ($1 billion) into German fintech firm Wirecard, as part of a strategic partnership on digital payments. Wirecard said Wednesday that it will raise the capital by issuing convertible bonds with a maturity of five...
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