Canada: Air Travel Drives a Modest Climb in December Inflation
Canadian consumer price inflation was 2.0% y/y in December, up a bit from November’s 1.7% pace. Markets were looking for a repeat of November’s 1.7% pace. On a seasonally-adjusted basis, prices were up 0.2% month-on-month. Much of the acceleration can...
Canadian Dollar Jumps on CPI and Oil, Sterling Pares Gain after Weak Retail Sales
Canadian Dollar strengthens mildly in early US session and is trading as the strongest one for today so far. Recovery in oil price has been supporting the Loonie through the day. And, further lift is given by stronger than expected...
EURGBP Pares Some Losses after Strong Sell Off in Near Term
EURGBP has been erasing the strong bearish rally that was created the previous six consecutive days, sending prices towards a new two-month trough of 0.8758. The stochastic oscillator is suggesting a positive retracement as the %K line jumped above the...
AUD/USD Outlook: US/China Optimism Keeps Aussie Afloat Despite Repeated Rejections At Cloud Base
The trades within narrow range on Friday, but the sentiment remains positive on US/China talks optimism, keeping the downside limited. Thursday’s spike to 0.7221 following a news report was short-lived and the action again ended below daily cloud base, which...
US 30 Index Crosses Above 50-Day SMA, Neutral In Short-Term
The US 30 index staged a major recovery in recent weeks, after touching an 18-month low on December 26. Price action is now taking place back above the 50-day simple moving average (SMA), which suggests the near-term outlook has shifted...
USD/JPY Outlook: Bulls Look For 110.00+ After Clearing 109.15 Pivot
The pair extends recovery to new two-week high at 109.59 on Friday after bullish signal was generated on Thursday’s close above 109.15 pivot (daily Kijun-sen / 50% retracement of 113.70/104.59). The greenback was boosted by better than expected US jobless...
S&P 500 Supported By A Rising Trend Line
Pivot (invalidation): 2596.00 Our preference Long positions above 2596.00 with targets at 2657.00 & 2685.00 in extension. Alternative scenario Below 2596.00 look for further downside with 2578.00 & 2545.00 as targets. Comment The RSI is bullish and calls for further...
What is a Pip? Using Pips in Forex Trading
What are pips in forex trading? “PIP” – which stands for Point in Percentage – is the unit of measure used by forex traders to define the smallest change in value between two currencies. This is represented by a single...
Sterling Extends Rally, Yen Lower on Risk Appetite, Dollar Follows Yields Higher
Yen trades generally lower in rather quiet markets today. Risk appetite strengthens mildly despite extended record run in US government shutdown. There were rumors that US is considering to roll back tariffs to facilitate trade negotiation with China. But that...
Silver Consolidates As Investors Consider Dollar Direction
As mentioned yesterday, I am still of the view that the dollar could weaken this year and boost buck-denominated metal prices. After all, the Fed has stopped hiking interest rates. You would think this would be good news for noninterest-bearing...
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