Blogs

<p>We’re in a bit of a holding pattern after a lively start to the week, with Wall Street eyeing another largely unchanged open, mirroring the broadly directionless trade in Europe. There was an abundance of catalysts earlier in the week, both positive and negative, which had stock markets in a bit of a frenzy. The […]

<p>Indices staged a partial recovery after an earlier drop in Asia. Aussie licks wounds ater worse than expected job fihures. Focus turns back to US jobs in the day ahead. GBP is the weakest ahead of the BoE decision at the top of the hour (more on this below). GBP shorts remain one of the […]

<p>Following a record 20% drop in economic output in April and a big jump in jobless claims over the past couple of months, policymakers at the Bank of England were widely expected to announce more stimulus at the conclusion of today’s meeting to combat the slowdown. Most analysts including myself, were expecting the Bank to […]

<p>The S&P 500 Futures are facing a consolidation after they closed mixed yesterday, as worries over a second-wave coronavirus pandemic persisted. Authorities of Chinese capital city Beijing order the lockdown of residential communities following surging infections. In the U.S., the number of coronavirus cases in Arizona, Florida and Tex

<p>WTI oil futures for July delivery maintain a clear positive structure reflected by the higher highs and the higher lows since late April, with the price printing another higher trough at 34.35 last week. Now it remains to be seen if the outlook can improve beyond the 40.42 peak, which is likely given the recent […]

<p>Notes/Observations No surprises from most central bank decisions in session (Indonesia cut; SNB, Norges hold policy steady; lone exception was Taiwan which kept its policy steady and not cut) Awaiting BOE decision with more stimulus expected Asia: New Zealand Q1 GDP registered its largest quarterly contraction since 1991 (Q/Q: -1.6% v -1.0

<p>The British pound is starting to weaken against the US dollar, as traders anticipate bearish commentary from the Bank of England later today. A loss of the 1.2500 support level could start a bearish breakdown towards the 1.2330 level over the medium-term. To the upside, gains towards the 1.2710 area remain possible if the bulls […]

<p>Cable extends weakness for the third straight day and probes through pivotal support at 1.2530 (Fibo 38.2% of 1.2074/1.2813, pressuring 20DMA (1.2503) which previously contained pullback from 1.2813 (10 June high). Fading bullish momentum and south-heading RSI add to negative near-term bias, but bears need firm break below 20DMA and 1.2454

<p>The common European currency declined by 104 basis points or 0.86% against the Japanese Yen on Wednesday. The currency pair was pressured lower by the 50– and 100– hour SMAs during Wednesday’s trading session. Technical indicators suggest selling signals on the 4hr time-frame chart. Most likely, the EUR/JPY exchange rate could contin

<p>The US Dollar surged by 77 basis points or 0.57% against the Canadian Dollar on Wednesday. The currency pair tested a psychological resistance level at 1.3600 during the Asian session on Thursday. Technical indicators demonstrate that the exchange rate could continue to surge within this session. The potential target for bullish traders wo