AUD/USD: Weaker Dollar Lifts Aussie to One-Month High
The Australian dollar spiked to one-month high vs its US counterpart on Monday as commodity currencies rose on broadly sold greenback. Bulls penetrated daily cloud but failed to break above as cloud, although thin (0.7762/85) marks solid barrier which reinforces...
US Open: Stocks Consolidate at Record Highs, Earnings in Focus
US futures are easing lower after the Dow Jones & S&P 500 hit record highs on Friday. Earnings will step up a gear this week with Netflix, Johnson & Johnson, IBM & Coca-Cola due. USD slumps to 6 week lows....
Dollar Selloff Resumes and Accelerates, Sterling Gaining Most For Now
Euro finally breaks through 1.2 handle against Dollar, as the greenback’s selloff resumes today and accelerates broadly. Nevertheless, Euro is overwhelmed by others, in particular Sterling, which is the strongest for now, followed by Swiss Franc. Commodity currencies are somewhat...
Gold Price Outlook: There Is A Connecting Bullish Trend Line With Support Near $1,774
Gold price found support near $1,725 and started a fresh increase against the US Dollar. The price climbed above the $1,740 and $1,750 resistance levels to move into a positive zone. The pair even climbed above $1,775 and settled nicely...
Euro Falls in Crosses, Yen Bounces on Strong Export Data
Yen bounces broadly in Asian session session today, after Japan reported solid trade data. Sterling is currently following as second strongest, then Aussie. On the other hand, Euro weakens in general, dragging down the Swiss Franc too. The developments came...
BOC Preview – Expects Upgrades on Economic Forecasts and More Optimistic Forward Guidance
We expect the BOC to trim its asset purchases to CAD3B/week, from CAD4B/week previously. The reduction is likely driven by lower issuance by the Treasury. It will, however, leave the overnight rate at the effective lower bound of 0.25%. We...
Major Asian bank says it’s not practical to cut off clients with coal exposure in the short term
SINGAPORE — Singapore’s largest bank DBS Group Holdings said it’s not practical to cut off clients with coal exposure in the short term. DBS on Friday announced that it aims to eliminate thermal coal exposure by 2039. To get there,...
Pull Back in Treasury Yields Boosted Stocks to New Record, Dollar Set Up for More Downside
Dollar tumbled broadly again as falling treasury yield pushed US and German stocks to new record highs. Near term trend in the greenback should have reversed, but it’s unsure whether it’s ready for medium term down trend resumption yet. At...
Week Ahead: Geopolitical Tensions Resurface, ECB, BOC, and NFLX Report
The next hint of market direction may come from somewhere unexpected Last week the headlines were about continued economic strength on re-openings in richer countries and increasing coronavirus cases in poorer countries. Geo-political tensions also resurfaced. Russia and the US...
Recent Economic Data Shows it’s the US Consumer vs the Fed
The University of Michigan conducts a poll twice a month on consumer sentiment, which includes both a current sentiment and an expectations sentiment. The Preliminary numbers are released in the middle of the month and the final results are released...
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