GBPJPY Marks Yet More Lower Highs as Bearish Forces Linger
GBPJPY is struggling to gain positive traction amid successive lower highs. Moreover the 50-period simple moving average (SMA) has crossed below the 200-period SMA, increasing fears of a sustained bearish outlook. Short-term momentum indicators are reflecting a mixed picture for...
Unusual holiday home-buying surge pushes mortgage demand higher
A real estate sign advertising a home “Under Contract” is pictured in Vienna, Virginia, outside of Washington. Larry Downing | Reuters An unusual surge in home buying, just as the market enters the historically slow holiday season, is driving mortgage...
Not since Americans came home from World War II has inflation run through the economy like it is now
Residential single family homes construction by KB Home are shown under construction in the community of Valley Center, California, U.S. June 3, 2021. Mike Blake | Reuters Not since Americans came home from World War II has inflation percolated through...
Gold Meets New Resistance But Sell-Off Already Overstretched
Gold could not find enough buying interest to close above the 1,796 resistance on Tuesday despite the bounce off the 20-day low of 1,781 in the four-hour chart. Nevertheless, traders could still derive some optimism from the momentum indicators as...
Oil Gives Biden A Bashing
SPR release triggers gains for oil Oil delivered a resounding slap to the face of President Biden overnight after he finally announced his well-telegraphed intention to release oil from the SPR onto open markets. Totalling some 70 to 80 million...
RBNZ Hiked Rate but More Cautious about Economic Outlook
The RBNZ raised the OCR by +25 bps to 0.75%, as we had anticipated. Policymakers sounded more cautiously about the economic outlook while reiterating the stance of continued reduction of stimulus. Kiwi extended recent correction after the announcement. On the...
NZD Softens after RBNZ Hike, Dollar Firming Up
New Zealand Dollar weakens in Asian session after RBNZ rate hike, and leads other commodity currencies lower. Dollar firms up mildly as it’s ready to extend recent rally, except versus Yen for now. European majors are mixed, with Sterling have...
Elliott Wave View: Dollar Index (DXY) Could Extend The Rally Higher
Short-term Elliott wave view in Dollar Index suggests cycle from October 28 low is in progress as a 5 waves impulse Elliott Wave structure. Up from October 28 low, wave 1 ended at 94.3 and pullback in wave 2 ended...
Stock futures are little changed after tech shares continue their sell-off
Traders work on the floor of the New York Stock Exchange (NYSE) on November 15, 2021 in New York City. Spencer Platt | Getty Images U.S. stock futures were little changed on Tuesday night after tech shares sold off for...
USDCAD Runs Out of Steam at 8-Week Highs, Rally at Risk
USDCAD advances have encountered some downside pressure from the 1.2738-1.2755 obstacle, formed by the October 1 and September 30 highs, hinting that bullish powers may be subsiding. However, the soaring 50- and 100-period simple moving averages (SMAs) are still backing...
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