Blogs

<p>WTI oil consolidating on Thursday after falling 5.7% previous day (the biggest one-day drop since 27 Mar). Oil price was hit by unexpected and strong build in US crude stockpiles (API report on Wednesday showed 8.7 million barrels rise against previous week’s draw of 4.8 million barrels). The data dampened hopes of demand recovery af

<p>Notes/Observations Various EU inflation and confidence data remain fragile China NPC approves Hong Kong National Security Law (as expected) Asia: Bank of Korea (BOK) cut the 7-Day Repo Rate by 25bps to 0.50% (as expected) BOK Gov Lee Post Rate Decision Press Conference noted that the policy rate very close to effective lower bound and [&he

<p>The precious metal has been trading side-ways over the past several weeks, with investors choosing to focus more on the racier equity markets. So, the safe-haven precious metal has been unable to build on its impressive rally in March. But it hasn’t exactly sold off either, holding comfortably above the $1700 support area thus far. [&helli

<p>The Aussie remains bid ion Thursday despite double failure at 200DMA (0.6657), underpinned by fresh optimism that economic downturn over pandemic lockdown may be less severe than feared. This so far fades negative signals on repeated upside rejection that may cause stronger pullback on profit-taking and formation of bull-trap above 200DMA.

<p>The New Zealand Dollar is currently trading in a narrow ascending channel pattern against the Japanese Yen. The Currency pair has edged higher by 5.46% since May 18. As for the near future, the exchange rate will most likely continue to trade in the narrow ascending channel pattern. The potential target for the NZD/JPY pair […]

<p>The New Zealand Dollar has surged by 2.66% against the Canadian Dollar since May 22. The currency pair breached the 50-, 100– and 200– hour SMAs during this period. Currently, the exchange rate is trading near the lower boundary of an ascending channel pattern at 0.8504. Most likely, a breakout will occur during the following […]

<p>On Wednesday, the XAU/USD exchange rate reversed north from the 1,700.00 level. During today’s morning, the rate pierced the 100-hour SMA near 1,721.00. It is likely that yellow metal could gain support from the 55-hour SMA near 1,715.00 and extend gains against the US Dollar. In this case the rate would have to exceed the […]

<p>Yesterday, the USD/JPY currency pair reached the upper boundary of the short-term ascending channel at 107.95. During Thursday morning, the pair declined to 107.70. From a theoretical perspective, it is likely that some downside potential could prevail in the market, and the exchange rate could reach the lower channel line circa 107.50. Me

<p>On Wednesday, the GBP/USD exchange rate revealed a medium-term ascending channel. During today’s morning, the rate was trading at 1.2260. Note that the currency pair is squeezed by the 55-, 100– and 200-hour moving averages, located near 1.2235 and 1.2290. Thus, it is likely that the pair could trade sideways in the short term. Meanw

<p>The EUR/USD currency pair has revealed a medium-term ascending channel. During Thursday morning, the pair was testing the weekly R1 at 1.1010. Note that the exchange rate is supported by the 55-hour SMA near 1.0980. Thus, it is likely that some upside potential could prevail in the market. In this case the rate could target […]