Forward Guidance: Canadian GDP Numbers to Flag Downshift in Recovery Pace
We expect the July Canadian GDP report to flag a slowing in the pace of the recovery. The release is likely to confirm Statistics Canada’s preliminary estimate that GDP rose 3% in July –a sizeable gain but smaller than the...
Week Ahead – Markets Feel the Blues ahead of US Employment Report
A perfect storm of bad news has thrown global markets into disarray. America is running out of stimulus, fears of a constitutional crisis after the election are running rampant, Europe is wrestling with a second virus wave, and central banks...
NZDUSD Bulls Halted by Mid-Bollinger Band; Bearish Pressures Remain
NZDUSD’s fresh upward pivot from 0.6510 has been dismissed by the mid-Bollinger band at 0.6574, which has reset the negative direction, with the price now tackling the 0.6539 barrier. The diving 50- and 100-period simple moving averages’ (SMAs) negative demeanour...
Dollar Firms Up Again ahead of Weekly Close
Dollar firms up again entering into US session, but it’s so far held below yesterday’s high against all but Swiss Franc. There is little reaction to weaker than expected growth in durable goods orders. New Zealand Dollar is surprisingly the...
Stocks making the biggest moves in the premarket: Costco, AstraZeneca, Novavax, Harley & more
Take a look at some of the biggest movers in the premarket: Costco (COST) – Costco reported quarterly earnings of $3.04 per share, 20 cents a share above estimates. The warehouse retailer’s revenue also beat Wall Street forecasts. Comparable-store sales...
EUR/USD Consolidates Near Weekly S2
Since Thursday, the EUR/USD currency pair has been consolidating near the weekly S2 at 1.1664. Given that the exchange rate is pressured by the 55-hour moving average near 1.1670, it is likely that some downside potential could prevail in the...
GBP/USD Could Consolidate
Yesterday, the GBP/USD exchange rate appreciated slightly. During Friday morning, the rate tested the weekly S1 at 1.2797. It is likely that the currency pair could gain support from the 55-hour SMA near 1.2740 and trade upwards in the short...
USD/JPY Consolidates In 105.40 Area
The USD/JPY currency pair has been trading sideways in the 105.40 area since Thursday. It is likely that the exchange rate could gain support from the 55-hour moving average near 105.30 and extend gains in the short term. In this...
XAU/USD Tests 55-Hour SMA
On Thursday, the XAU/USD exchange rate extended gains gradually. During today’s morning, the rate was testing the 55-hour SMA near 1,869.00. If the given resistance holds, it is likely that some downside potential could prevail in the market within the...
USD/TRY Outlook: Turkish Lira Rises After Surprise CBRT Rate Hike But Advance Is Likely To Be Limited
The Turkish lira rose strongly against the dollar, gaining 20 big figures in two days after Turkish central bank unexpectedly hiked interest rates by 2% to 10.25% on Thursday. The CBRT surprised by tightening policy for the first time in...
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