Will Canada Retail Sales Rebound?
The Canadian dollar edged higher in Asia as it drives towards the 1.23 line. USD/CAD is currently trading at 1.2329, down 0.33% on the day. Retail Sales expected to rebound The Canadian dollar has taken advantage of US dollar weakness...
Gold Inverted Head And Shoulders – As The Market Is Pushing Higher
The price is bullish. Last week we witnessed buying the dips scenario. Bulls are trying to push the price further up and so far they have been successful. The potential move is higher but the price needs to break above...
USDCAD Retraces To 1.23 Level Before Foothold Takes Shape
USDCAD is consolidating across the 1.2300 handle after the price slipped back below the Ichimoku cloud and the simple moving averages (SMAs) over a period of one-month. The bullish bearing of the 50- and 100-day SMAs has softened, as has...
GBPJPY Turns Neutral Below 5-Year High, Trend Signals In Focus
GBPJPY shifted to the sidelines after its two-week straight-line rally faltered near a five-year high of 158.20. The rapid progress in the market has reactivated the 2020 uptrend, helping the 50-day simple moving average (SMA) to change course above the...
Recovery in Dollar and Yen Capped, Downside Prospects in Euro
The forex markets are staying in mostly consolidation in Asian session. Recovery in Dollar and Yen is so far rather weak, capped by resilient market sentiment. S&P 500 closed at new record high while DOW was not far behind. Major...
Cliff Notes: Global Inflation Angst Grows
Key insights from the week that was. A quiet week for data saw the market’s focus remain on inflation. This was most notably the case in New Zealand and Australia, with the NZ Q3 print received this week and Australia’s...
China may be moving toward easy monetary policy, but it will have to tread delicately
People walk past the headquarters of the People’s Bank of China (PBOC), the central bank, in Beijing, China September 28, 2018. Jason Lee | Reuters BEIJING — China’s central bank is poised to move carefully toward easing monetary policy, even...
EUR/USD May Test 1.1600-1.1570 Support Before Resuming Uptrend
EURUSD is coming higher very nicely back towards 1.1663, the former lows, after a bottom formation at 1.1520/25 area that we recognized because of a five-wave drop and break out of a downward channel. There was also a bullish divergence...
AUDJPY Rockets to 44½-Month High Before Negative Forces Surface
AUDJPY has been tracing the upper Bollinger band for two weeks now, reaching a more than 3½-year high of 86.24, as the pair aims for the 86.72 barrier. The price rally, which extended above the simple moving averages (SMAs) and...
Growth Jitters Bring Risk-off into Play; Dollar’s Slide Halts
Stocks falter as risk-off returns Better-than-expected corporate earnings have been a buffer to stock markets this month, with Southwest and American airlines flagging today that even the hardest-hit industries by the pandemic can still stand on their feet despite the...
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