Week Ahead – US Inflation on the Menu, BoC and RBNZ to Raise Rates
The summer calm will have to wait a little longer as the coming week is filled with crucial events. Canada and New Zealand are geared to raise interest rates, although their currencies are ultimately at the mercy of global recession...
Dollar Rising Again on Strong NFP Data
Dollar rises in early US session after stronger than expected non-farm payroll data. It’s also supported by extended rebound in 10-year yield, which reclaims 3%. Euro also follows German yield higher. On the other hand, Canadian Dollar turns softer after...
The Weekly Close Out
Commodities have seen some massive price swings. NFP up in a few hours could see some excitement into the weekend close. Read below to find out more. Dollar Index (DXY): Was shocked with some of the moves we saw in...
Euro Oversold, But Far from a Final Sell-off
The single currency fell to 1.0071 in the early European session on Friday. For EURUSD, it is a new low since December 2002 and a continuation of the massive sell-off that started last Tuesday. Looking solely at the technical picture,...
Dollar Index: Dollar Accelerates Higher, Eyes Fresh Support from US Job Report
The dollar index resumes a steep ascend after a brief pause on Thursday, boosted by strong safe-haven demand on economic and political uncertainty. The index hit new highest since Oct 2002 and eyes pivotal Fibo barrier at 109.14 (76.4% of...
XAU/USD: Bears Taking a Breather but Gold On Track for the Fourth Straight Weekly Drop
Spot gold stands at the back foot on Friday and holding in extended consolidation above new multi-month low ($1732) but holding bearish bias. The metal is on track for the fourth consecutive weekly drop, with this week’s fall being the...
GBPJPY Seeks an Upside Reversal, But Bears Still Present
GBPJPY finished Thursday’s session comfortably in the green zone after refusing to close below the 162.00 round level once again. Simultaneously, the bullish action seems to have confirmed Wednesday’s hammer candlestick pattern – an encouraging sign that the balance may change in...
EURGBP Wave Analysis
EURGBP broke key support level 0.8500 50 Likely to fall to support level 0.8430 EURGBP currency pair recently broke the key support level 0.8500 (which stopped the previous waves a and (4), as can be seen below). The breakout of...
Oil Outlook: Below $100 WTI Raises Eyebrows
As WTI’s price plunged below $100 a barrel on the 5th of July, it raised eyebrows across the markets, as analysts are pushed to the edge of their seats, pondering on what’s to follow. Without a doubt, recession fears and...
Canadian Dollar Eyes Job Data in Canada, US
The Canadian dollar is back below the 1.3000 line today. USD/CAD is trading at 1.2987 in the North American session, down 0.37%. On the economic calendar, Canada’s Ivey PMI was a major disappointment, slowing to 62.2 in June from 72.0...