GameStop short sellers are still not surrendering despite nearly $20 billion in losses this month
People walk past a GameStop store in Midtown Manhattan on January 27, 2021 in New York City. Michael M. Santiago | Getty Images The astronomical rally in GameStop has imposed huge losses of nearly $20 billion for short sellers this...
December pending home sales drop as buyers face record high prices and low supply
A house’s real estate for sale sign shows the home as being “Under Contract” in Washington, DC, November 19, 2020. Saul Loeb | AFP | Getty Images Homebuyers signed fewer contracts to buy existing homes in December, as record high...
Week Ahead – NFP Bounce, Stimulus Progress Might Calm Markets; BoE and RBA Eyed
It’s going to be a relatively busy start to February as investors will be hoping the latest US jobs report will confirm that December’s rough patch was short lived. However, that won’t be the only data to test the market...
Weekly Focus – Is the Manufacturing Cycle Peaking?
The COVID-19 development continues to be challenging with improvements in most European countries and the US but also signs that countries that ease restrictions see a flare-up again. France for example has experienced a new increase in cases raising concerns...
Canadian Dollar Rebounds on Strong GDP Growth, Dollar Turns Soft Despite Risk-Off
Canadian Dollar rises broadly in early US session, with the help from better than expected GDP data. Euro is also firmer on German and French GDP data. While markets are back in risk-off mode, Yen, and to a lesser extent...
USD/TRY Outlook: Lira Accelerates Higher after Taking Out 200DMA Barrier
The Turkish lira regained traction and strengthens further against the US dollar, following break of pivotal 200SMA (7.3643) which held the action in past three weeks. Lira is also on track for the second straight bullish weekly close and third...
USD/THB 4H Chart: Downside Potential Could Prevail
Since the middle of December, the USD/THB exchange rate has been trading sideways within a symmetrical triangle pattern. As apparent on the chart, the rate has broken the lower pattern line. Given that the currency pair is pressured by the...
USD/ZAR 4H Chart: Rising Wedge Pattern In Sight
Since the beginning of December, the USD/ZAR currency pair has been trading within a rising wedge pattern. From a theoretical point of view, it is likely that the exchange rate could continue to move within the predetermined pattern until the...
NZD/JPY 4H Chart: Could Continue To Edge Up
The New Zealand Dollar has surged by 1.84% against the Japanese Yen since January 19. The currency pair tested the 75.00 level during this week’s trading session. All things being equal, the NZD/JPY exchange rate is likely to continue to...
NZD/CAD 4H Chart: Bounces Off Support
The New Zealand Dollar has surged by 1.71% against the Canadian Dollar since last week’s trading sessions. The currency pair bounced off from the lower line of an ascending channel pattern at 0.9050 on January 20. As for the near...