Blogs

The price of gold may extend the advance from earlier this month if the Relative Strength Index (RSI) pushes into overbought territory.

The Australian Dollar may rise ahead but AUD/USD trades within a bearish chart pattern. Crude oil prices struggled despite historical OPEC+ output cuts. Japanese Yen at risk ahead.

US Dollar edges lower to start the trading week, but with S&P 500 earnings due, will coronavirus concerns resurface and prompt another cash crush that sends USD price action ripping higher?

One week repos will continue weekly The Fed will now conduct 3-mont repos every two weeks, not weekly. Overnight repos will be daily starting May 4. We're a long ways from normal.

Great article in the FT today There's a great in the FT today lamenting how Powell warned that the Fed must allow higher volatility, only for him to clamp down on it the second markets ran into trouble. Now he's gone way beyond Bernanke to bail out everything.

USDCAD looks toward 50% midpoint The USDCAD is trading to a new day low at 1.3862 and in the process, has fallen below the swing low from end of March and April at 1.3920 and 1.3930 repectively (see red numbered circles on the daily chart below).  The next key target off the daily chart is […]

No big surprise. Bernie isn't a sore loser (although his supporters often are) The next big question in politics is who will be Biden's running mate. All the odds-on favourites are women:

Dollar takes another hit The US dollar (DXY above) is sagging across the board in a particularly-sudden move that kicked off against the commodity currencies but it spreading. Even the beaten-up euro is attempting a comeback now.

That would blow away records The US Committee for a Responsible Federal Budget now estimates the US FY2020 deficit will be $3.8 trillion or 18.7% of GDP. It will then drop to just $2.1 trillion in 2021.

USD/CAD hits stops Don't ever let anyone tell you technical support doesn't matter. USD/CAD broke 1.3920 and crumbled to 1.3890, which is the lowest since March 15.