US manufacturing output rises unexpectedly
Flextronics International Apple factory employees work on Apple Mac Pro computer assembly in Austin, TX, November 20, 2019. Tom Brenner | Reuters U.S. manufacturing output rose unexpectedly in December as a drop in motor vehicle output was outpaced by increases...
NZDJPY Cautiously Positive In Short-Term, Golden Cross Registered
NZDJPY restored positive momentum after diving as low as 71.22 last week and is now approaching the 73.51 top registered in late-December. The upward-sloping RSI is endorsing the positive move, but some caution could be justified as the Stochastics have...
USDZAR Posts ‘Death Cross’ In Medium Term Downtrend
USDZAR peaked during the summer after touching 15.50 and has been posting consecutive lower highs and lower lows on the daily chart ever since. What’s more, the 50-day simple moving average (SMA) recently crossed below the 200-day one, completing a...
Brent Futures Rebound On Supportive Uptrend Line, Bullish View Remains
Brent futures bounced off the short-term ascending trend line on Wednesday, failing to extend the downward move. Currently, the commodity is trying to overcome the 40-day simple moving average (SMA) and the 64.85 resistance level. The RSI turned higher but...
GBP/USD Drops On Weak Retail Sales
UK data this week has been dismal. UK retail sales was the latest release to disappoint: MoM -0.6% vs +0.6% exp. YoY +0.9% vs 2.9% exp. Expectations were running high for December retail sales as the data included black Friday...
Trump to nominate Shelton, Waller to serve on Fed
Judy Shelton, U.S. executive director for the European Bank for Reconstruction and Development, stands for a photograph. Andrew Harrer | Bloomberg | Getty Images President Donald Trump will pick two economists, Judy Shelton and Christopher Waller, to serve on the...
GBP/USD Tested Weekly PP
Yesterday, the GBP/USD exchange rate raised to the 1.3080 level. During Friday morning, the rate tested the resistance level—the weekly PP at 1.3099. On the one hand, it is likely that bears could prevail in the market, and the currency...
XAU/USD Maintained Its Consolidation
On Thursday, the XAU/USD exchange rate traded sideways around the 1,555.00 level. During today’s morning, the rate continued to consolidate. Note that yellow metal is squeezed by the 100– and 200-hour SMAs, currently located at 1,550.86 and 1,556.68 respectively. Thus,...
USD/CHF 4H Chart: Decline Likely To Continue
During the past week, the US Dollar has declined by 1.28% in value against the Swiss Franc. The currency pair was pressured down by the 50– and 100– period SMAs. All things being equal, the exchange rate will likely continue...
EUR/GBP 4H Chart: Could Edge Lower
The common European currency has surged by 1.47% in value against the British Pound since last week’s trading sessions. The currency pair tested a resistance cluster at 0.8593 on January 14. The exchange rate breached a support cluster formed by...
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