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<p>U.S. Highlights Equity markets digested the possibility of a long and arduous economic recovery by pulling back this week. At the time of writing, the S&P 500 was down 4% from its close last Friday. The Fed’s updated economic projections played a role in the decline. Fed members expected the economy to contract by 6.5% […

<p>Keep an eye trained on the United States next week for an early sense of how Canada’s crucial manufacturing and retail sectors might have fared in May. Canadian retail trends stuck close to those that played out in the US through April, suggesting an expected 10% increase in US sales in May could foretell similar […]

<p>Beware of an increase in coronavirus cases globally and watch comments from Central Bank meetings After the FOMC meeting last week, markets saw risk-off in a classic “Buy the rumor, sell the fact” type of trading environment. Traders expected a dovish Fed; however, Powell may have been a little too dovish for comfort.   FOMC members [&hell

<p>The US job market still remains fragile and until it improves substantially, a full recovery in oil demand remains unlikely. Monday will be a key day for reopening across Europe: Not only will clothes, shoe retailers and other shops open across the UK for the first time in three months, but it will also theoretically […]

<p>Interesting technical setup in the USDCAD The US Dollar was bullish against most of its major pairs on Friday with the exception of the NZD, AUD and CAD. On the economic data front, the University of Michigan’s Consumer Sentiment Index rose to 78.9 on month in the June preliminary reading (75.0 expected), from 72.3 in […]

<p>The New Normal Another crazy week comes and goes and thing that has really stuck with me is how normal the extraordinary suddenly seems. On Thursday, the Dow fell almost 7% and, sure, it was newsworthy but it wasn’t shocking. This is the 22nd biggest ever drop in the index – going back more than […]

<p>An upcoming summit of EU leaders could decide the fate of the European recovery fund and the direction of Brexit talks, setting up possible stumbling blocks for the euro’s and pound’s rebounds. The pound will also be keeping an eye on the Bank of England’s policy meeting, with more QE looking likely. The Bank of […]

<p>Global equities are bouncing back following Thursday’s rout as investors still believe the worst of the virus is behind us for the advanced world and as the focus shifts to the week ahead, which includes a wrath of central bank decisions that are expected to provide further stimulus to the punchbowl. A lot of money […]

<p>GBPUSD is looking lower, after a completed five-wave recovery within a higher degree wave C, which seems to have found a top at the 1.281 level. We see a sharp reversal lower, which can be first sign of a bearish turn being made in minimum three legs. That said, be aware of pullbacks within current […]

<p>NZDUSD is currently restricted by the 50-period simple moving average (SMA) residing at the level of the inside swing low of 0.6468. The pair is dealing with selling pressures, which appear to be strengthening, something also reflected in the Ichimoku lines as well as the RSI and the MACD indicators. Despite a pause in negative […]