Yen Rebounds as Risk Markets Correct, Canadian Dollar Weak Ahead of BoC
Yen rebounds notably overnight, following the pull back in stocks. Market sentiment was weighed down by renewed concerns over coronavirus infections, which also dragged down oil prices. Dollar also followed and recovered. On the other hand, commodity currencies reversed their...
USD/CAD Faces Hurdle Near 1.2600, CPI Report Next
Key Highlights USD/CAD started a fresh increase after testing the 1.2470 support region. A major declining channel is forming with resistance near 1.2610 on the 4-hours chart. EUR/USD and GBP/USD extended gains before correcting lower. Canada’s CPI could increase 2.3%...
Here are the 10 biggest economies in the world — before the pandemic vs. now
A child runs past a wall mural depicting healthcare workers wearing face masks along a road in New Delhi, India on March 21, 2021. Sajjad Hussain | AFP | Getty Images SINGAPORE — The Covid-19 pandemic has shaken up the...
S&P 500 futures fall slightly in overnight trading, Netflix shares tank
Traders on the New York Stock Exchange. Source: NYSE Stock futures fell slightly in overnight trading Tuesday amid a sharp decline in Netflix shares, pointing to a third straight negative day on Wall Street. S&P 500 futures dipped 0.1% and...
EURCHF Flickers a Neutral-to-Bearish Tone
EURCHF’s consolidation is adopting a slightly more bearish demeanour on the four-hour chart as the price is challenging the 50-period simple moving average (SMA) and the Ichimoku cloud on the downside. The SMAs overall are emanating a growing negative tilt...
More for ECB to Consider and Better UK Employment Data: EUR/GBP
German PPI for March was released earlier today. The MoM print increased from 0.7% in February to 0.9% in March. Expectations were for a decline to 0.6%. However, the bigger story regarding German PPI was the YoY print at 3.7%...
Risk Markets Consolidate on Pandemic Concerns, Dollar Recovering Mildly But Stays Weak
Some renewed concerns over global spread of coronavirus appears to be putting risk-on rally to a halt. In Japan, Tokyo Governor is seeking the government o declare a state of emergence to curb the infections ahead of the Olympics that...
DAX 30 Waiting For Pullback To 38.2% And 144 Ema At 15k
On the 4 hour chart below, we can see how the moving averages help us identify the moments when price action is making a pullback within the uptrend. German stock index DAX 30 (DE30) has been in a major uptrend...
US Stocks Closed In The Red. Dow Jones And S&P 500 Retreated From Record Highs
The US indices declined by 0.4-1%. It was partially triggered by a Tesla car crash near Houston and a decline in shares of Microsoft, Amazon, and Nvidia ahead of quarterly reports. The producer price index (PPI) in Germany jumped 3.7%...
ECB Preview – Looking for Hints on PEPP Destiny
We do not expect much news from the upcoming ECB meeting. European yields have stabilized since the central bank “accelerated significantly” the pace of PEPP purchases in mid-March. Inter-meeting economic data have been mixed. We believe policymakers would reinstate that...
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