Blogs

Major indices move to the upside The European major stock indices are closed for the day with gains.  The provisional closes are showing: See here for global coronavirus case data

Price moves above 100.00 The rate implied by Fed funds futures for periods in the future, is derived by taking 100.00 and subtracting the price of the contract. So if the price is at 99.50 for a contract (just as an example), the rate implied for that month by the market is 100.00 -99.50 or 0.5%.&nbs

Can sellers keep the pressure on and break the MA level The USDCAD had moved to a new session lows and in the process tested the 200 hour moving average for the 2nd day in a row at 1.40249. The 38.2% retracement 1.40487 is now risk for sellers/shorts looking for more downside. The next target comes in at the [&he

Extends narrow trading range for the day The EURUSD was mired in a 38 pip trading range at the start of the New York session. The price has now extended to a new session lows and in the process the range has now moved up to 50 pips. As a guide the 22 day average (about […]

Move higher in early trading fails. Higher oil helping the loonie The USDCAD moved above resistance from recent highs in early Asian trading, but after extending to 1.4172, the price rotated back lower.  The run to the downside has been helped by rising oil prices today. The price of WTI crude oil futures are trading up […]

Just above unchanged levels for the year A snapshot of the indices a minute or so into the open is currently showing: In the US debt market, yields are mixed:

38.2% retracement also near the 100 hour MA The USDJPY moved above a swing area at 106.35 to 106.44. Those levels were swing lows for April. They were broken to the downside yesterday on the way to a low at 105.978 (call it 106.00).  Today, the low was just above that level and the price […]

Swing area at 1.24047-14 defines a ceiling area for the GBPUSD The GBPUSD spiked higher after the BOE decision earlier today. The move to the upside was able to extend above the most recent trend line on the hourly chart below but stalled right around a swing area at 1.24047 to 1.2414 area. The high price stalled […]

USD/JPY stays more upbeat on the session, moves to a high of 106.48 See here for global coronavirus case data Amid the better mood in the equities space today, buyers are putting up a bit of a defense at the 106.00 handle – leaning on the figure level and trendline support to prop up the […]

GBP/USD pares gains on the day in fall to 1.2340 See here for global coronavirus case data The pound got some short-term reprieve from the BOE earlier today but it didn't lead to anything material as cable sellers defended a quick run above 1.2400 to keep the downside pressure going in the pair.