100 hour MA at 106.857 is close risk for shorts The USDJPY has moved lower in trading today (risk off flows? Perhaps). In the process, the price fell back below the broken 38.2% at 107.01 (call it 107.00) and a swing area at 106.91 to 106.988. The 100 hour MA was also breached at 106.857. […]
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EURUSD trades under mid-April highs, but holding gains so far.
Watching April 10 swing high below at 1.09672 for intraday clues The EURUSD started the week's trading near the lows (was retested on Tuesday) and near a swing area at 1.0811-16. Also near the Monday/Tuesday week lows was the 100 hour MA (blue line). The ability to hold near that MA/swing area, was an earlier […]
The GBPUSD rotates down to support target. Key level for buyers and sellers
200 day MA held like a charm for the 2nd time in April yesterday The GBPUSD moved up this week, with the low for the week made in the first hour of trading on Monday at 1.2357. The high for the week was yesterday at 1.26426. That high corresponded with the 200 day MA at […]
Fed cuts daily Treasury purchases to $8B/day from $10B/day
Fed continues to taper purchases This week Powell didn't offer any indication about when they will reach some terminal rate. See here for global coronavirus case data
Fed's Bullard: We'll get back to normal in H2
Bullard spoke to the WSJ saying See here for global coronavirus case data
Fed's Barkin: Weak global economy hurts other nations more than US
Comments from Richmond Fed President Barkin He's right that many other countries are far more reliant on global growth that the US. More: See here for global coronavirus case data
Incoming BOC gov Macklem: Negative rates among tools at BOC
Comments from Tiff Macklem as he's introduced as next BOC Governor: Verbatim: The comment about negative rates is weighing on the Canadian dollar. Macklem sounds like he's been sent there to torpedo the loonie but if you look closely at exactly what he said, he's saying he's against negative rates:
Bank of England to release May 7 decision extra early
The decision will be out at 0600 GMT (rather than 1100 GMT) Why would you want to release a decision at 7 am local time? See here for global coronavirus case data
Tiff Macklem named next Bank of Canada governor
Carney deputy gets the top job This is a surprise. Macklem is by no means a poor choice. He was Mark Carney's top deputy from 2010-2014 and before that was a top advisor to the finance minister during the financial crisis. Currently he is the dean of the University of Toronto's business school.
Bank of Canada set to appoint new governor
Press conference coming at the bottom of the hour A report says there are two finalists and one of them is senior deputy Carolyn Wilkins. The other name is undisclosed but it's not Jean Boivin, who was one of the names circulated.