Week Ahead – Busy US Calendar ahead of Thanksgiving; Q3 Data Eyed by Aussie, Kiwi and Loonie
The coming week looks set to be unusually busy despite the US having a shorter week due to the Thanksgiving holiday. Nevertheless, the flurry of data may fail to generate much excitement. This could leave investors yet again exposed to...
Banking: Challengers pile on risk in Mexico
Keep an eye on Mexico – it has always been an interesting banking market. It is dominated by foreign banks, and the one major domestically owned bank has, at times, frustrated local regulators, whose desire for credit growth has been...
EUR/GBP: Sterling Downside Could be Limited
If the Bank of England were voting for a rate change today, this morning’s disappointing UK PMI data may have encouraged one or two more within the Monetary Policy Committee to vote for an ‘insurance’ rate cut. That’s how the...
US consumer sentiment comes in higher than expected for November
Consumer sentiment unexpectedly rose in November, according to data released Friday by the University of Michigan. The university’s index of consumer sentiment climbed to 96.8 from 95.5 last month. Economists polled by Dow Jones expected consumer sentiment to dip to...
Sterling Tumbles after Poor PMIs, Loonie Higher after Retail Sales
Sterling drops broadly today as poor PMIs suggest quarterly GDP contraction. Following the Pound, Swiss Franc is the second weakest for today, and then Dollar. On the other hand, commodity currencies are generally higher are sentiments recover mildly ahead of...
USD/CAD Outlook: Loonie Extends Recovery after Solid Canada’s Retail Sales Data
The loonie advanced against US dollar on Friday, following better than expected Canada retail sales (Sep core 0.2% vs 0.1% f/c) but gains were so far limited by top of falling daily cloud (1.3256). The USDCAD pair is holding in...
WTI Oil Futures Overbought after Capturing One-Month High
WTI oil futures for January delivery closed above the 200-period moving average (SMA) on the four-hour chart on Wednesday and spiked to a one-month high of 58.64, confirming a new higher low at 54.84. The price is currently consolidating around...
Market Brief: GBP Hurt by Poor Services PMI
Market update: In FX, GBP and to a lesser degree EUR sold off this morning although both were off their worst lows but still down on the day following the earlier release of poor services PMI data from the UK...
USD/JPY Outlook: Double Bear-Cross Maintains Pressure For Renewed Test Of 108.29 Fibo Support
The pair eases on Friday after double-Doji with the upside being capped by converged 10/20/30DMA’s. Fresh weakness comes despite positive signal on Thursday’s strong downside rejection (long-tailed Doji) as near-term action is weighed down by double-bear-cross (10/20 and 10/30DMA’s, formed...
XAU/USD Tested Medium-Term Channel
On Thursday, the XAU/USD exchange rate declined to the lower boundary of the medium-term ascending channel at 1,465.00. During today’s morning, the rate reversed north from the given line. From a theoretical perspective, it is likely that some upside potential...
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