EUR/USD Depreciates To 61.80% Fibo
During Thursday’s trading session, the currency exchange rate passed through the support levels of the monthly and the weekly S1 to end the trading session at 1.1220. On Friday morning, the rate was located at the 1.1228 mark. In regards...
GBP/USD Trades Without Support Levels
During Thursday’s trading session, the British Pound passed through the support level of the monthly pivot point to end the trading day at 1.3050. On Friday morning, the British pound depreciated against the US Dollar to pass through the weekly...
USD/JPY Passes 61.80% Fibo
During Thursday’s trading session, the currency exchange rate broke through most of the technical indicators to end the day at 110.60. On Friday, the rate was located above the 61.80% Fibonacci retracement level at the 110.77 mark. In regards to...
RBA Preview – Expecting a Dovish Shift on Monetary Policy Stance
The lack of momentum in economic activities would soon dent RBA’s hope of higher household consumption (and eventually higher inflation), as a result of further decline in the unemployment rate. We expect the central bank to turn more cautious at...
Yen Softer as Stocks & Yields Rebound, Pounds Awaits Another Brexit Vote
Yen is under some mild selling pressure today as China stocks lead Asian markets higher. While US 10-year yield failed to sustain above 2.4 handle overnight, it looks like recent decline has stabilized some what. And some more recovery in...
Elliott Wave View: Short Term Weakness In Silver
Silver broke below March 7 low ($14.96) and shows a sequence of lower low from Feb 21 high ($16.2), suggesting further downside is likely in the shorter cycle. The decline from Feb 21 looks is unfolding as a zigzag Elliott...
Mnuchin says US-China trade talks were ‘constructive’
U.S. Treasury Secretary Steven Mnuchin said in a tweet on Friday that he and U.S. Trade Representative Robert Lighthizer had concluded “constructive” trade talks in Beijing. “I look forward to welcoming China’s Vice Premier Liu He to continue these important...
GBPUSD Pound Falls On Brexit With Too Many Options Too Little Time
The British pound fell 1.05 percent on Thursday ahead of Friday’s vote on the Brexit agreement. The third time is not likely to be the charm for British PM Theresa May who has each time picked up marginal wins. She...
USD/CAD Canadian Dollar Falls On Dollar Strength And Soft Commodities
The Canadian dollar lost 0.25 percent on Thursday as the US dollar rose on safe haven flows boosting the greenback. Commodities offered no support for the loonie with gold and oil under pressure from the advance of the US dollar...
Gold Plunges Despite Falling Bond Yields
Gold and silver have failed to shine despite falling bond yields in recent days, and today both metals slumped hard. The metals’ poor performance may be due to several reasons, rather than just one factor. For a start, the US...