AUDUSD is Holding on the Lower Trendline of an Ascending Wedge Pattern
The US Dollar was bullish against most of its major pairs on Friday with the exception of the NZD and CAD. On the U.S. economic data front, Markit’s U.S. Manufacturing Purchasing Mangers’ Index spiked to 53.6 on month in the...
Week Ahead – Jackson Hole Goes Virtual
Central Bankers Take to the Virtual Red Carpet It’s been a relatively slow summer so far as we prepare for a huge run in to the end of the year. A potential multi-trillion dollar stimulus plan, Covid vaccine and fierce...
EUR/GBP: Euro Drops On PMI, Coronavirus
In fact, economic activity has already slowed down according to the latest Purchasing Managers’ Indices from Germany and especially France, where Covid-19 cases have risen sharply since July. Investors will now be cautious about buying the euro as the weakness...
The Forex Market and Presidential Terms
How has the forex market performed around different US Presidential terms? Read on to discover what history can tell us about the Forex market and the President. (1) The US Dollar and the President’s Party At first, many traders are...
US Futures Sliding – Watch NVDA, INTC, BABA, EL, LB
The S&P 500 Futures remain under pressure after they ended in the red yesterday as Minutes from the U.S. Federal Reserve’s latest meeting showed that officials expected the economy to require “additional accommodation” for recovering from the coronavirus pandemic. Later...
Asia Morning: U.S. Stocks Retreat After Record Closes
On Wednesday, U.S. stocks ended in the red. The Dow Jones Industrial Average fell 85 points (-0.31%) to 27692, the S&P 500 dropped 14 points (-0.44%) to 3374, and the Nasdaq 100 was down 80 points (-0.71%) to 11318. Dow Jones Industrial Average: Daily Chart –...
USD/CAD Steady ahead of FOMC Minutes
The Canadian dollar is slightly lower in Wednesday trade, as USD/CAD has dropped 0.19% on the day. Currently, USD/CAD is trading at 1.3144, down 0.18% on the day. Earlier in the day, the pair touched a low of 1.3133, its...
S&P 500 Closes At Record High As US Dollar Plunges
The Japanese yen weakened against the US dollar as investors reacted to mixed trade and machinery order numbers from the country. According to the Cabinet Office, the country’s core machinery orders declined by 22.5% on a year-on-year basis in June....
FOMC Minutes: Setting the Stage for September
The minutes of the latest Fed meeting will hit the markets at 18:00 GMT Wednesday. Investors will look for any hints as to the Fed’s next move, which will probably be to strengthen the forward guidance. Clear signals that this...
USD Remains On The Defensive
Notes/Observations USD continues its retreat aided by retreating yields, soft US economic data and a dip in safe-haven status Asia: RBA Aug Minutes: Economic recovery likely to be slower than previously expected. Coronavirus outbreak in Victoria to have major impact...
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