Blogs

Price extended above recent swing high levels The EURGBP is moving higher today as Brexit concerns weigh on the GBP.   The price has moved above the weeks highs at 0.88766 (from Wednesday).  Earlier the price moved above the double top from April 7 and April 21 at 0.8862. Both

NASDAQ index leading the way to the downside the major US stock indices have open lower. The NASDAQ composite index leads the way to the downside. Chip stocks are down;

The price of the USDJPY has not had an hourly bar close below the 200 hour MA this week The price of the USDJPY started the week below its 200 week moving average. The 1st hourly bar opened below the 200 hour moving average at 106.59 at the time. The low price reached 106.49. However the price immediately […]

Dollar lower The USD has moved generally lower after the much weaker than expected retail sales report.   Empire manufacturing was better-than-expected but still the second worst reading on record.  

Federal Reserve publishes its 2020 financial stability report – warns financial sector vulnerabilities likely to be significant in near-term – pandemic strains on household and business balance sheets likely created fragility's that last for some time See here for global coronavirus case d 

ECB Lagarde speaking Meanwhile in Italy, the Bank of Italy is projecting that the economy contracts by 9% this year. See here for global coronavirus case data

Moves slightly lower from last weeks -31.1 level

MLF is the People's Bank of China Medium Term Lending Facility – funds loaned to banks – the rate at 2.95% is unchanged from the previous MLF injection of funds 200bn in MLFs matured yesterday. New rates for RRR cuts went into effect today, a 50bp targeted cut. 

People's Bank of China    China's annual parliament sits beginning next week. The yuan should continue relatively stable into and through the meetings. Following the meetings though the yuan is likely to succumb to further downward pressure. Exports have been on the soft side and Chinese authorities will want to address

Volatility signals   Interested in learning about volatility's impact in the markets?  to learn more.  See here for global coronavirus case data