Elliott Wave View: EURJPY Rally Expected To Fail
Short-term Elliott wave view in EURJPY suggests rally to 130.75 ended wave (B). Pair has turned lower in wave (C) but it still needs to break the previous wave (A) low at 127.9 on August 19 to rule out a...
Stock futures inch higher after Dow, S&P snap 5-day losing streak
U.S. stock index futures were modestly higher during overnight trading on Monday, after the S&P 500 finished in the green, snapping a five-day losing streak. Futures contracts tied to the Dow Jones Industrial Average rose 75 points. S&P 500 futures...
Bullish Dataset Awaited to Bolster Pound ahead of BoE
Sterling remains the king among major currencies year-to-date thanks to its immediate vaccination landmark at the start of the year, but despite its latest rebound, buying pressures have been inadequate to drive it above the 1.3900 – 1.4000 resistance territory...
Selling Turns to Euro and Swiss Franc as Risk-on Rally Returns
Commodity currencies came back to live entering into US session, with help from broad based rally in European indexes and US futures. Canadian Dollar is also lifted as WTI oil price recaptures 70 handle. Dollar turned mixed for now as...
AUD/USD Recovering Higher Towards the 0.7365 Resistance
The Aussie Dollar started a fresh decline from well above 0.7450 against the US Dollar. The AUD/USD pair even broke the 0.7400 support level to enter a bearish zone. The pair traded as low as 0.7347 and it settled below...
Greenback Gains Support Early in the Week
Early in another week of September, EUR/USD is significantly falling and trading at 1.1790. The major currency pair started moving downwards after negotiations between American and Chinese Presidents. It was their first conversation in seven months. The key topics discussed...
USD Gains A Bit Yet Ended Last Week Lower
The greenback seems to have begun the week on the front foot, as traders begin to prepare for some high impact financial releases scattered through the week, while on fundamentals, the Fed’s intentions are still considered of key importance and...
China’s booming electric car industry is much bigger than just Nio and Xpeng
SAIC-GM-Wuling Automobile Co. electric vehicles are plugged in at charging stations at a roadside parking lot in Liuzhou, China, on Monday, May 17, 2021. Qilai Shen | Bloomberg | Getty Images BEIJING — While investors watched dramatic surges in the...
EUR/USD Breaks 1.179 Support as Dollar Rebound Continues
Dollar rebound continues in Asian session today and trades generally high. Weakness in more notable in Aussie and Euro, as both turn soft in crosses. Overall risk sentiment is slightly negative, with particular deep selloff in Hong Kong stocks, but...
The Weekly Bottom Line: Holding the Helm in Stormy Waters
U.S. Highlights The economy is fighting stormy undercurrents caused by the Delta variant, but we are confident that it will stay the course. The job market will take longer to recover, but demand for workers should remain strong. Businesses remain...