EUR/USD Bears May Accelerate on Break of 2017 Kow
The Euro is consolidating within a tight range on Friday after a 1.3% drop previous day, as oversold daily studies warn of price adjustment, which is likely to be limited as overall bearish bias is intact. The pair is on...
Dollar and Yen Consolidate as Sentiment Stabilized
Overall market sentiment stabilize in Asia today, with Nikkei leading other major indexes higher. Bitcoin is trading back above 20k, arguing that the climax of the crypto rout is over. In the currency markets, both Dollar and Yen are paring...
AUD/USD: Aussie Posts New Multi-Month Low on Dominating Risk-off Mode
Risk aversion on growing concerns about inflation and slowdown of global growth continues to drive the Aussie dollar lower, after recovery attempts on Wednesday were strongly rejected above 0.70 level, now reverted to strong resistance. Fresh weakness hit the lowest...
The Crypto Market’s House of Cards
Bitcoin collapsed 8.4% on Wednesday, ending the day at around $28.4K. Thursday’s fall continued, sending the first cryptocurrency down 5% to $27K. Ethereum is down 24% in the last 24 hours, having rolled back to $1815. Other leading altcoins in...
Yen Rebounding Further on Risk Aversion and Falling Yields
With the help from risk aversion and extended pull back in benchmark global treasury yields, Yen’s rebound is making some progress. US 10-year yield is back below 2.9% handle in Asian session while Germany 10-year bund yield also broke 1%...
GBP/USD Outlook: Cable Bounces after US CPI Data as Markets Digest Results
Cable fell below 1.23 handle after US CPI data came above expectations in April, but dip stayed above new 2022 low (1.2260) posted on Monday and subsequent bounce pushed the price to the mid-point of the near-term range which extends...
Stock futures are little changed ahead of key inflation reading
Stock futures were little changed in overnight trading Tuesday ahead of a key inflation reading. Futures on the Dow Jones Industrial Average shed about 15 points. S&P 500 futures were marginally lower and Nasdaq 100 futures were near flat. The...
Dollar Ranging Against Euro and Yen, Markets Turning Cautious With Stabilization
Risk sentiment stabilizes today with rebound in major European stocks while US futures also point to higher open. Selloff in commodity currencies slow a bit but they remain the worst performers, led by Aussie. Yen, Euro and Dollar are the...
Euro Resilient in Risk-Off Markets, Aussie Selloff Continues
The markets are still staying in overall risk-off mode this week so far, with selloff in stocks, gold, oil and cryptos. Commodity currencies are trading broadly lower as as result, led by Aussie. Dollar and Yen are generally firmer, but...
NZDJPY: Bullish Sequence and Trading Strategy
In this blog, we will look at the strong rally in NZDJPY which took place this year, talk about the sequence, what it means for the pair and also what our trading strategy is going forward. We will look at...