Canadian GDP Continued to Grow Despite Second Virus Wave
October GDP rose 0.4%, advance estimate for November surprisingly resilient at also +0.4% Weakness relative to pre-shock levels increasingly concentrated in hospitality and travel sectors Vaccines still likely to ease COVID threat in 2021, near-term outlook closely tied to virus...
Canada GDP Expected to Slow
The Canadian dollar has posted gains on Wednesday, with the North American markets yet to open. Currently, USD/CAD is trading at 1.2868, down 0.31% on the day. Trump threatens veto of stimulus package The financial markets can be forgiven for...
Trump Stimulus Shocker, France Reopens Border, Dollar Drops
Trump veto threatens to derail stimulus package The unpredictability of President Trump provided a shock overnight that sent risky assets tumbling as Congress’s hard-fought battle for a fiscal relief deal seemed in jeopardy. Trump is making a push for USD2,000...
XAU/USD Could Condolidate In Short Run
Yesterday, the XAU/USD exchange rate declined to the support formed by the 200-hour SMA and the Fibo 23.60% near 1,860.00. Given that yellow metal is pressured by the 55– and 100-hour moving averages near 1,875.00, it is likely that some...
USD/JPY Pressured BY 55- And 200-Hour SMAS
Yesterday, the USD/JPY currency pair reversed south from the 103.70 level. It is likely that exchange could trade downwards in the short term, as it could be pushed down by the 55– and 200-hour moving averages in the 103.50/103.60 range....
EUR/USD Trades Below 1.2200
On Tuesday, the EUR/USD currency pair reversed north from the support level—the weekly S1 at 1.2159. It is likely that some downside potential could prevail in the market as the exchange rate is pressured by the 55– and 100-hour SMAs,...
GBP/USD Pair Started A Fresh Increase From The 1.3200 Zone
The British Pound found support near the 1.3200 zone and started a fresh increase against the US Dollar. The GBP/USD pair broke the 1.3260 and 1.3300 resistance levels to move into a positive zone. The pair even broke a connecting...
LTCUSD $120.00 Rejection
Litecoin has suffered another big upside rejection from the $120.00 region, further increasing the chances of a swift downside correction for the LTCUSD pair. Traders that are bearish towards Litecoin may be targeting a coming decline towards the $85.00 area....
EURUSD Sell Signal
The euro currency continues to weaken against the US dollar, with bulls failing to maintain the pair back above the 1.2200 resistance level. Technical analysis shows that a bearish breakout from a large rising wedge pattern has taken place on...
USDJPY’s Gradual Nose-Dive Continues Below Falling SMAs
USDJPY is in the process of plummeting further testing key troughs and is currently attached beneath the 103.65 level, which happens to be the 76.4% Fibonacci retracement of the up leg from 101.17 to 111.71. Furthermore, the pair maintains a...
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