The May jobs report is coming and economic reports don’t get much more important than this one
The economy was expected to have added a solid 180,000 jobs in May, but if the payroll number is much stronger or weaker than forecast, that could be a game changer for the markets and any consumers or businesses looking...
China Weekly Letter – Are We Heading for an All-Out Trade War?
There is no sign of improvement in the war of attrition between the US and China as the trade war widens in scope. Chinese PMI data for May is mixed but we expect more weakness in the short term. There...
How to Trade the Doji Candlestick Pattern
Doji Candlestick Trading: Main Talking Points The Doji candlestick, or doji star, is a unique candle that reveals indecision in the forex market. Neither the bulls, nor bears, are in control. However, the Doji candlestick has five variations and not...
CADJPY Remains in Bearish Phase
CADJPY has been finding strong resistance on the 38.2% Fibonacci retracement level of the downward wave from 89.25 to 76.60, near 81.42, falling beneath the 20-simple moving average (SMA) in the daily chart. Having a look at the momentum indicators,...
Euro in Range after Rough Ride on ECB’s Not Dovish Enough Meeting
It’s a roller coaster ride for Euro. It initially dipped after ECB said there will be no rate hike at least through mid 2020. Then it recovered and breaks yesterday’s higher against Dollar as the press conference and new economic...
Breaking Market Commentary: European Central Bank meeting
Another day, another downbeat assessment of the global economy that has been provided from a leading central bank. That is the message that the European Central Bank (ECB) has followed, in a week where interest rates have been cut in...
GBPCAD is Neutral in Very Short-Term; Advances are Expected
GBPCAD has been on the sidelines for the most part of the week as the 1.7130 level seems to be a real struggle for the bulls. Technically, the price could lose some ground in the short-term as the RSI is...
Why the market may be one headline away from another ugly sell-off
A top market strategist has a message for investors: Don’t get too comfortable with the latest market rally. As long as trade jitters are present, Wells Fargo Investment Institute’s Scott Wren believes stocks are vulnerable to another ugly drop. “You’re...
EUR/USD Outlook: The Euro Consolidates Above Key Supports After Strong Upside Rejection, ECB Policy Meeting Eyed For Fresh Signals
The Euro attempts to stabilize above 55SMA (1.1214) after Wednesday’s strong upside rejection (1.1306) and subsequent pullback that left bearish daily candle with long upper shadow. Repeated failure to clear key barriers, provided by daily cloud top/100SMA (1.1277) despite spike...
Dollar Recovered From Overly Bearish Sentiments as Focus Turns to ECB
Dollar tried to stage a reversal overnight after initial selloff, but upside is so far limited and there is no confirmation of bottoming yet. There are a couple of factors behind the move. Post ADP employment decline was largely undone...