Blogs

<p>Oil price crashed more than 30% and reached a low of $27 earlier this week. OPEC’s failure to agree on further production cuts and Saudi Arabia/Russia price war has driven crude oil to the low last seen in January 2016. Commodity currencies such as Canadian Dollar (CAD) and Norwegian Krone (NOK), which are oil-sensitive, were […]

<p>In this blog, we are going to take a look at the Elliottwave chart of AUDNZD. The chart below from March 3 update shows that the cycle from November 8, 2019 high unfolded as 5 waves impulsive structure. The move down in wave (A) ended at 1.0304 low. Based on Elliottwave theory, a 3 waves […]

<p>As suggested in the CFTC Commitments of Traders report in the week ended March 3, NET LENGTH in USD Index droped -2 589 contracts to 22 488. Speculative long positions fell -7 880 contracts and short positions declined -5 291 contracts. Bets on both sides obviously shrank as the Fed adopted emergency rate cut by […]

<p>As suggested in the CFTC Commitments of Traders report in the week ended February 25, NET LENGTH in USD Index added +849 contracts to 26 077. Speculative long positions dropped -638 contracts and short positions declined -1 487 contracts. Bets on both sides obviously shrank as the market pondered about the next move of the […]

<p>Despite the recovery over the past few days, Japanese yen has still lost -1.6% against US dollar in the first 3 weeks of February. This phenomenon is puzzling as JPY, as traditional safe-haven currency, usually strengthens as global uncertainty and risk aversion intensify. There are a number of reasons for the loss of JPY’s safe-haven [&he

<p>Explosion of coronavirus cases should further delay Korea’s economic recovery, leading Bank of Korea to push forward the rate cut to as soon as this week. Last month, policymakers shifted the tone to neutral from dovish. However, the January meeting was held before the spread of China’s coronavirus to the rest of the world. It […]

<p>As suggested in the CFTC Commitments of Traders report in the week ended February 18, NET LENGTH in USD Index gained +4 742 contracts to 24 228. Speculative long positions dropped -1 314 contracts and short positions dropped -6 056 contracts. Concerning European currencies, NET SHORT for EUR futures increased +5 838 contracts to 91 [&helli

<p>Currently trading at 1.083 against USD, lowest since April 2017, the single currency has plunged -2.4% in the first half of February. This follows a -1% decline in January. Disappointing economic data, renewed speculations on further rate cut by ECB and intensified global uncertainty as driven by coronavirus outbreak originated in China ar

<p>Weakness in Eurozone&#8217;s economic data has led traders to trim bets on higher euro but raise short bets for further decline. As suggested in the CFTC Commitments of Traders report in the week ended February 11, NET LENGTH in USD Index gained +2 353 contracts to 19 486. Speculative long positions soared +11 750 contracts […]

<p>Novel coronavirus has shown no signs of abating. The latest statistics indicate that the number of confirmed cases has increased to above 30 000 and casualty to over 800 in China. The epidemic has affected at least 28 countries in the world. Against this backdrop, safe-haven currencies outperformed risky ones. As suggested in the CFTC [&he