Navarro says US will take strong action against China if it devalues yuan to ‘neutralize tariffs’
Peter Navarro, director of the National Trade Council. Andrew Harrer | Bloomberg | Getty Images White House trade advisor Peter Navarro said Beijing plans to devalue its currency — and if it does, the U.S. will respond forcefully. “Clearly, they...
IMF says trade war threatens China’s growth, pushes for an equitable resolution
Chinese President Xi Jinping stands by national flags. Johannes Eisele | AFP | Getty Images The International Monetary Fund is urging the world’s two largest economies to resolve the escalating trade war quickly and fairly. In a new report published...
Cliff Notes: Concerns Over Growth Near and Far
Key insights from the week that was. The past week has been another focused on monetary policy and political matters, both in Australia and offshore. Markets have remained volatile as a result, foreseeing a need for ultra-lose monetary policy to...
AUDUSD Risk Remains Higher On More Correction
AUDUSD risk remains higher on more correction following a hold on to its recent gain. On the upside, resistance lies at the 1.6850 level. A cut through here will turn attention to the 0.6900 level and then the 0.6950 level...
CADCHF Corrects Upwards as Engulfing Candle Stops Losses
CADCHF buyers halted the pair’s move down just before 0.7250, which is the 138.2% Fibo extension of the up leg from 0.7350 to 0.7610. The subsequent recovery moved the price above the 0.7350 resistance, where the market has now adopted...
Sterling Tumbles as GDP Contraction Raises Recession Fears
Sterling weakens broadly today as surprised contraction in Q2 UK GDP raised concerns of recession. In the background, risk of no-deal Brexit continues to weigh on sentiments. Canadian Dollar is suffering some renewed selling in early US session after worse...
US500 Index Slips To Retest 50-SMA But Bullish Bias Not Faded Yet
The US500 stock index managed to restore more than half of the losses it recorded after reaching a new record high last week, and even though it failed to hold above the 50-period simple moving average (SMA), the bullish forces...
EUR/USD Trades At 1.1200
During Thursday, the EUR/USD currency pair traded sideways at 1.1200 level. During today’s morning, the pair continued to consolidate at the given level. Note, that the exchange rate is pressured by the 55– and 100-hour SMAs, as well the Fibonacci...
GBP/USD Likely To Decline
Yesterday, the GBP/USD exchange rate breached the short-term ascending channel south. During today’s morning, the rate tested the 2018/2019 low at 1.2092. Given that the currency pair is pressured by the 55-, 100– and 200-hour moving averages, currently located circa...
USD/JPY Tests Long-Term Channel
During the previous trading session, the USD/JPY currency pair tested the lower boundary of the long-term descending channel at 105.85. During Friday morning, the pair continued to test the given channel line. Note, that the exchange rate is pressured by...
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