Canadian Dollar Flat ahead of Powell
It has been a volatile week for the Canadian dollar, but the currency is as quiet as a mouse on Friday. Currently, USD/CAD is trading at 1.2683, up 0.02% on the day. On the economic calendar, Canada’s Raw Materials Price Index...
Markets Treading Water Despite Strong PCE Inflation, Powell Next
The overall markets continue to tread water in early US session. Two Fed officials expressed their support for tapering, but investors are probably still waiting for Chair Jerome Powell’s Jackson Hole speech to take action. There is also little reaction...
Stocks making the biggest moves premarket: Big Lots, Hibbett Sports, Peloton, Gap and others
Check out the companies making headlines before the bell: Big Lots (BIG) – The discount retailer’s shares tumbled 9.5% in premarket trading after it missed top and bottom-line estimates for its latest quarter. Big Lots earned $1.09 per share, 3...
GBPJPY Lacks Bullish Signals Despite Rebound
GBPJPY has been in recovery mode this week, partially erasing last week’s losses thanks to the bounce on the long-term dashed ascending trendline, which has been supporting the market since the 2020 freefall. The 38.2% Fibonacci retracement of the latest...
EUR/USD Outlook: The Pair Broke The Key 1.1750 Resistance Zone To Move Into A Short-Term Bullish Zone
The Euro started a recovery wave above the 1.1720 resistance zone against the US Dollar. The EUR/USD pair broke the key 1.1750 resistance zone to move into a short-term bullish zone. The pair traded as high as 1.1778 before it...
USDCAD Gains On Trendline Support
USDCAD stepped decisively on the ascending trendline, which has been supporting the market since the drop to a 3 ½-year low of 1.2006 in May, and drifted northwards to hit resistance within the 1.2680 – 1.2700 zone. The cheerful upside...
EUR/USD Outlook: Near-Term Directionless Mode Extends
The Euro is slightly bid in early Friday but lack of firmer signals keeps near-term action directionless for the third straight day. All eyes are on the speech of Fed Chair Powell, due later today, as traders look for hints...
US 30 Recoups Previous Losses
The Dow Jones index pulls back as traders await updates from the Fed’s Jackson Hole meeting. Price action’s V-shaped rebound is typical of buying-the-dips from the demand zone near 34600. By lifting offers around 35450 the bulls have signaled their...
AUD/USD Rebound Cools Off
The Australian dollar fell back after a drop in July’s retail sales numbers. A close above 0.7270 has forced sellers to cover their bets. The pair is recovering towards the 30-day moving average on the daily chart which coincides with...
USD/JPY About To Test Resistance
The Japanese yen weakened after a lower-than-expected Tokyo CPI in August. The US dollar is grinding its way back up after the mid-month correction. A double test at 109.50 suggests strong buying interest. Layers of support indicate buyers’ willingness to...