Blogs

<p>Global markets are trading with a decidedly risk-off tone to start the week on fears of COVID-19 hotspots in Beijing, Brazil, and certain Southern US states, among other areas. While the battle against the global pandemic has alternated (and likely will continue to alternate) between progress and setbacks, the outlook for US fiscal stimulu

<p>The UK will release employment data this week which could affect the Pound.  The Claimant Count Change for May is expected to be 400,000 vs 856,000 in April.  Although the expectation is more than half the print for April, 400,000 is still an extremely large claimant count number. A higher than expected number could cause […]

<p>In America, important events begin early this week. On Tuesday, we get retail sales data for May (12:30 GMT), ahead of Fed Chairman Powell’s semi-annual testimony before the Senate (14:00 GMT). Powell will also appear before the House of Representatives on Wednesday (16:00 GMT) and his Q&A sessions with lawmakers on both occasions cou

<p>The Euro edged higher in early US session on Monday, after two-day fall was contained by key Fibo support at 1.1212 (38.2% of 1.0870/1.1422) on Friday and today’s action stays above correction low. Larger uptrend remains intact and current easing so far looks like mild correction, but current bounce needs break and close above 10DMA [&hell

<p>USD/CHF can be forming a bullish setup from the beginning of March. Today we will talk about USD/CHF and its price action from Elliott Wave perspective. USD/CHF made strong and impulsive recovery in the beginning of March, ideally into the first leg A)/1) of a minimum three-wave A/1-B/2-C/3 rise. Since then, we have seen slow […]

<p>AUDJPY’s pullback from the fresh peak of 76.77 appears to have received some support from the 72.78 level that being the 23.6% Fibonacci retracement of the up leg 59.85 – 76.77. The Ichimoku lines sponsor an improving picture as does the 50-day simple moving average (SMA) with its positive overlap of the 100-day SMA. Looking […]

<p>AUDUSD looks to have found a top at the 0.706 level, from where a new decline started forming. This decline is sharp and firm, and can be part of a minimum three-wave reversal. That said, be aware of pullbacks as part of a reversal. Also, a break of 0.668 level would confirm further weakness. AUD/USD, […]

<p>CADJPY has been underperforming in the past few days, breaking back below the 20-period simple moving average (SMA). On the daily chart, prices rebounded off the 74.80 support level on May 7 but based on the RSI, momentum is too weak to provide a sustained move higher. However, the stochastic oscillator is creating a bullish […]

<p>Canadian manufacturing sales tumbled by 28.5% (m/m) in April. This was the largest single-month drop on record, and follows a sizeable 9.8% decline in March. Controlling for price effects, the picture was still stark, with manufacturing shipment volumes down 26%. Sales were down in all 21 major industries. The sharp decline in the headline

<p>Manufacturing sales fell by a record 28.5% (volumes -26%) All 21 sub-industries posted declines (most in the double digits) Hours worked data suggest April low-point Canadian manufacturers were hit hard by physical distancing measures that forced capacity reductions or outright factory closures in April. A 28.5% drop in manufacturing sales