USDCHF Triangle Watch
The Swiss franc currency is starting to break higher against the US dollar after the pair staged a notable breakout from a large symmetrical triangle pattern. The one-hour time frame shows that the USDCHF pair could rally towards the 0.9080...
GBP/USD Is Bearish Prior To The NFP
The GBP/USD is bearish after the ADP and we should see a retest of a trend line for further selling. If the price gets to the POC zone again, we might see a rejection. 78.6-88.6 is the zone where we...
Dollar Rebounded Strongly and Broadly as Focus Turns to Non-Farm Payrolls
Dollar rose broadly overnight, following solid job and services data, and remains firm in Asian session. Nevertheless, the real test lies in today’s non-farm payroll report. As of now, Yen is the second strongest for the week, following the green...
RBA Will Not Extend YCT and Will Move to More Flexible QE Model
Introduction The RBA Board is likely to decide that there will be no extension of the YCT to the November 2024 bond at the July Board meeting because such action would imply no tightening till 2025. Westpac disagrees with that...
Wall Street should brace for ‘larger than normal price swings,’ PNC’s chief investment officer warns
A top investor expects volatility to dominate Wall Street for months. Amanda Agati, PNC Financial’s chief investment officer, lists stretched market valuations, Federal Reserve taper chatter and the end of stimulus checks as troubling forces in the market. “You have...
A Booming Economy, Soaring Commodity Prices, So Why is the Aussie Not Rallying?
The Australian dollar made a spectacular rebound from the March 2020 nosedive against the US dollar. But although Australia’s economic recovery has gone from strength to strength, the rally has stalled since March this year. There are a number of...
EURJPY Upside Risks Intact Despite Recent Tiptoeing
EURJPY seems to be lacking immediate positive drive to surpass the 134.00 hurdle despite multiple bounces off the 133.61 barrier. Although the pair’s broader uptrend is firm, something also being displayed in the climbing simple moving averages (SMAs), the static...
AUDJPY Consolidates in Narrow Range, Broader Uptrend Intact
AUDJPY has been trapped in a narrow sideways range for two months now, between 82.00 and 85.80. This marks a consolidation phase within the bigger uptrend that has been in effect for more than a year. A break on either...
Jobless claims fall below 400,000 for the first time since the early days of the pandemic
Initial jobless claims fell below 400,000 for the first time since the early days of the Covid-19 pandemic, the Labor Department reported Thursday. First-time filings for unemployment benefits totaled 385,000 for the week ended May 29, a decline from the...
Dollar Mildly Higher after Strong ADP Jobs, But Upside Limited
Dollar trades slightly higher in early US session on much better than expected ADP private job data. Though, upside is so far limited, as traders remain cautious ahead of tomorrow’s non-farm payrolls report. Sterling is following as the second strongest...
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