The last two tests on the way higher found buyers near the level The USDCAD has corrected back toward the 100 hour MA. Russia's Novak said earlier today that the demand fall off is near the low. Treasury Sec. Mnuchin just said that he sees oil at around $30 by August. The price of crude […]
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The GBPUSD retraces some of the declines over the last few days
Moving him him him up toward resistance targets The GBPUSD moved sharply lower yesterday as risk off trades dominated. The low price extended below a trend line (see green numbered circles on its way to the session low at 1.22464. A modest correction into the close still kept the price below the overhead broken trend line
EURUSD higher but chops in the meat of the 5-day range
100 hour MA holding support? If you look at the last 5 days of trading for the EURUSD, the lowest low was at 1.08114, and the highest high reached 1.09041. That is less than 100 pips for the period (93 pips). Moreover, there have been three tests of the high (between 1.0896 and 1.0904 – see […]
The AUD is the strongest and the USD is the weakest as the NA session begins
A little risk on today The stocks are moving higher and yields are a little higher too. Senate passed another small business relief bill which will now be sent to the House for approval. That has traders leaning to risk on. The AUD and the GBP are the strongest (they were weak yesterday), and the USD […
EUR/USD extends climb as dollar keeps weaker on the day
EUR/USD rises to a session high of 1.0885 See here for global coronavirus case data The dollar is continuing to keep softer on the session, as we see EUR/USD rise to a high of 1.0885. Cable is also up nearly 100 pips on the session to 1.2385 currently.
BOJ reportedly to cut monetary policy meeting to one day next week
NHK reports I'm still guessing that would mean they would meet on 28 April only but let's wait for an official confirmation by the Japanese central bank itself.
Canada CPI plunged to 0.9%, sharpest deceleration since 2006
<p>Canada CPI slowed to 0.9% yoy in March, down sharply from February’s 2.2%. That’s the fastest deceleration since September 2006. Excluding energy CPI rose 1.7%. CPI common slowed to 1.7% yoy, down from 1.8%, matched expectations. CPI median, slowed to 2.0% yoy, down from 2.1% yoy, matched expectations. CPI trimmed slowed to 1.8
ECB Rehn: Essential for EU to come with with a convincing coronavirus package
<p>ECB Governing Council member Olli Rehn said it’s “essential” EU would come up with a “convincing package” tomorrow to “mitigate the economic effects of the crisis, especially for the weakest countries.” He warned that “the future of Europe as a political community is also at stake.” The
Dollar Pares Gains as Oil and Stocks Recover, Yen Softens Too
<p>Dollar pares back some of this week’s gains as global risk markets recover. WTI crude oil June contract also trades higher and is back pressing 13 handle. Naturally, Yen follows the greenback as the second weakest for the day. On the other hand, Australian Dollar is the strongest, followed by Sterling and then Canadian. Technically,
USD/JPY Outlook: Slight Bullish Alignment but More Work Needed for Eventual Exit from Week-long Range
<p>The pair holds slight bullish tone on Wednesday and attempts to break out from seven-day 107/108 zone range, where the action was stuck on safe-haven demand for both currencies. Wednesday’s action is holding in the upper side of the range and probes above initial barrier provided by 10DMA (107.79), with eventual close above to provid