After the Vaccine Boost, What’s Next for the Commodity Dollars?
It’s been a roller-coaster year for the commodity-linked dollars of Canada, Australia and New Zealand as the global pandemic has wreaked havoc on international trade and on commodity prices – the lifelines of the three economies. But as countries around...
USD/CHF Resuming the Bear Trend
USDCHF has completed a five-wave contracting move within a higher degree wave 4) correction at te 0.909 level, and started turning impulsively lower. An impulsive decline, and break below the 0.898 level now confirm that price on USDCHF is turning...
Employment growth slows sharply in November amid coronavirus surge
Nonfarm payrolls increased by just 245,000 in November, well below Wall Street estimates as rising coronavirus cases coincided with a considerable slowdown in hiring. Economists surveyed by Dow Jones had been looking for 440,000 and the jobless rate to decrease...
US 30 Index Conveys Confidence above MAs
The US 30 stock index (Cash) is tiptoeing higher after finding traction off the 100-period simple moving average (SMA), attached to the lower surface of the Ichimoku cloud. Although the Ichimoku lines are fairly directionless, the red Tenkan-sen line is...
Canadian Dollar Boosted Further by Job Data, Greenback Shrugs NFP
Canadian Dollar is given another boost in early US session after stronger than expected job data. In the background, the Loonie has already risen following higher oil prices. Dollar, on the other hand, has little reaction to much worse than...
Pandemic-induced options trading craze shows no signs of slowing down
Traders work on the floor of the NYSE in New York. NYSE Options trading is the new sports betting. Talk about unintended consequences. The stay-at-home requirement created by Covid-19 has spawned a huge sub-industry in options trading in tandem with...
XAU/USD Tests 1,845.00
Since Thursday, the XAU/USD exchange rate has been testing the 1,845.00 level. It is likely that yellow metal could gain support from the 55-hour moving average near 1,832.00 and extend gains against the US Dollar in the short term. Note...
USD/JPY Might Reverse South
On Thursday, the USD/JPY currency pair dropped to the 103.80 level. During today’s morning, the pair reversed north. It is likely that the exchange rate could face the resistance formed by the 55-, 100– and 200-hour SMAs, as well the...
GBP/USD Could Go Upwards
Yesterday, the GBP/USD exchange rate raised to the psychological level at 1.3500. It is likely that the currency pair could gain support from the 55-, 100– and 200-hour SMAs in the 1.3370/1.3410 range and trade upwards in the short term....
EUR/USD Tests 1.2170 Mark
Since the second half of Thursday, the EUR/USD currency pair has been testing the 1.2170 mark. If the predetermined level holds, it is likely that a reversal south could occur, and the exchange rate could decline to the support area...
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