Blogs

<p>For the 24 hours to 23:00 GMT, the USD rose 0.27% against the CHF and closed at 0.9664. In Switzerland, the SVME manufacturing PMI declined to a level of 43.7, less than market forecast for a fall to a level of 40.0. In the previous month, the manufacturing PMI had recorded a level of 49.5. […]

<p>For the 24 hours to 23:00 GMT, the USD rose 8.63% against the CAD and closed at 1.4167. On the data front, Canada’s Markit manufacturing PMI unexpectedly dropped to 46.1 in March, confounding market expectations for an advance to 53.3 and compared to a level of 51.8 in the prior month. In the Asian session, […]

<p>For the 24 hours to 23:00 GMT, Gold rose 1.00% against the USD and closed at USD1606.50 per ounce, as concerns over economic slowdown due to the coronavirus pandemic increased demand for the safe haven asset. In the Asian session, at GMT0300, the pair is trading at 1597.30, with gold trading 0.57% lower against the […]

<p>For the 24 hours to 23:00 GMT, Silver declined 0.07% against the USD and closed at USD14.11 per ounce. In the Asian session, at GMT0300, the pair is trading at 14.04, with silver trading 0.50% lower against the USD from yesterday’s close. The pair is expected to find support at 13.87, and a fall through […]

<p>For the 24 hours to 23:00 GMT, Crude Oil rose 4.64% against the USD and closed at USD21.20 per barrel. Separately, the Energy Information Administration (EIA) reported that crude oil inventories rose by 13.8 million barrels last week. In the Asian session, at GMT0300, the pair is trading at 21.10, with oil trading 0.47% lower […]

<p>EURAUD shows incomplete sequence from March 19, 2020 high, favoring further downside. The internal of the decline from March 19 (1.98) high is unfolding as a double three Elliott Wave structure. Down from 1.98 high, wave ((W)) ended at 1.802 and wave ((X)) bounce ended at 1.875 as a running Flat. Pair has resumed lower […]

<p>General Trend: Australian equities underperform, financials decline after RBNZ said banks agreed to freeze their dividends in order to support financial stability Aussie banks pare some of the losses as Australia said no plan to restrict dividends at this time Sectors moving lower in Japan include financials and transports Kospi outperform

<p>Financial markets continued to limp into Q2 overnight, with equities and energy continuing to lag as the world’s economy continues to wily under the ongoing COVID-19 pandemic. Energy was front and centre overnight with US Crude Inventories blowing out to 13.8 million barrels and Whiting Petroleum filing for Chapter 11 bankruptcy protection

<p>Key Highlights Gold price is struggling to climb above the $1,620 and $1,640 resistance levels. A major bearish trend line is forming with resistance near $1,616 on the 4-hours chart of XAU/USD. The US ISM Manufacturing PMI decreased from 50.1 to 49.1 in March 2020. The US Factory Orders could increase 0.2% in Feb 2020 […]

<p>Last week, US Initial Claims were 3,283,000 vs an expectation of 1,500,000. It was the largest initial claims weekly filing in US history and something I’d imagine no one ever thought they would see in their lifetime. Later today, at 8:30am ET, the US will release Initial Claims for the Week ending March 28th. The […]