Dollar Back Under Pressure as Swiss Franc Surges Again
Dollar is under some pressure as falling treasury yield is weighing down the greenback. Canadian Dollar is even weaker as WTI oil price breaches 70 handle again. New Zealand and Australian Dollars are the stronger ones but gains are limited....
EURJPY Rebounds But Downside Risks Remain In Force
EURJPY is drifting across the 129.61 level, which happens to be the 50.0% Fibonacci retracement of the up leg from 125.08 until 134.12, after the bearish correction bounced off the 200-day simple moving average (SMA). The 200-day SMA is defending...
GBP/NZD Bearish Continuation Possible
The GBP/NZD is bearish and sellers are taking over. The angle of a drop and retracement is diverging, hinting at a bearish move. I am already short and have protected more than 350 pips. You can clearly see my shorting...
RBA Sticks with Tapering in September, Shrugging Off Short-term Impacts of Lockdown
Surprisingly, the RBA remained optimistic about the economic outlook despite the lockdown in various states over the past weeks. At today’s meeting, the members decided to go ahead with QE tapering from September and upgraded economic forecasts. The central bank...
RBA Board Surprises by Maintaining Current Policy Settings
The RBA Board decided to maintain current policy settings despite forecasting a contraction in the September quarter. The rationale is that the experience points to the economy bouncing back quickly and that presumably a policy change may have undermined confidence...
Aussie Rebounds as RBA Sticks to Tapering Plan, Yen Firm on Falling Yields
Australia Dollar rebounds notably after RBA surprised markets by sticking to its tapering plan. Kiwi appears to be a touch stronger, but Aussie is not far away. Yen is also firm on falling treasury yields. On the other hand, Canadian...
Market Morning Briefing: Pound Has Bounced A Bit From 1.3873
STOCKS Equities look mixed within their broad sideways range. As mentioned yesterday, a fresh trigger looks likely to be needed to see an upside breakout of the range that we have been expecting. Else a fall within the range is...
Bearish trend signals stocks are vulnerable to a 10% to 15% correction
The market appears to be doing something that happens ahead of corrections. When the S&P 500, Nasdaq and the CBOE Volatility Index rise together, BTIG’s Julian Emanuel warns it’s often a precursor to a 10% to 15% pullback. “Whenever we’ve...
Fed Governor Waller sees reduction in bond purchases possibly starting in October
The Federal Reserve could begin slowing down its bond purchases as early as October under a scenario central bank Governor Christopher Waller set out to CNBC in a Monday interview. Should the August and September jobs report show growth in...
RBA Could Put off Tapering Decision and Expose Aussie to More Declines
Four weeks ago, the Reserve Bank of Australia (RBA) claimed that the economy is in a good shape, and it would proceed with its bond tapering schedule as soon as September, despite the Covid uncertainty. On Tuesday, however, the Bank...
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