Canadian Retail Sales Still Soft in July
Headline sales edged up 0.4%
Volume sales were unchanged in July, both from the prior month and a year earlier
Canadian retail sales have...
Pound Jumps On Brexit Deal Hopes, Dollar Edges Lower
Pound surges on rising odds of a Brexit deal; Barnier-Barclay meeting eyed
Dollar edges lower as other central banks hold steady, Treasuries slip
...
NZDUSD Still Bearish, But Forming Possible Double Bottom
NZDUSD bears are at the wheel and have steered the pair back on track with the medium-term negative picture. The price recovered on September...
USDCAD Bulls Relax Under 200-Day SMA
USDCAD bulls relaxed near the 200-day simple moving average (SMA) on Thursday, letting the price to slip back into the 1.3200 handle.
According to the...
GBPNZD’s Nearly 2-Month Rally Dries up ahead of May High
GBPNZD after a decisive push north on September 13, fell inches short of the May high of 2.0020, plotting a shooting star suggesting the...
Technical Analysis
EUR/USD Outlook: Euro Eases Towards 1.10 Support after Repeated Rejection at Trendline Resistance
The Euro fell near 1.10 support in mid-European/early US trading on Friday, following repeated upside rejection at bear-trendline, drawn from 1.1412 (25 June high)...
Fundamental Analysis
Sunset Market Commentary
Markets
There were few economic data in Europe and the US today. European and US equities indices show modest gains. Investors probably felt some comfort...
Fundamental Analysis
Canadian Retail Sales Increase in July, but Volumes Flat
Canadian retail sales were up 0.4% (m/m) in July, following a downwardly revised 0.1% decline in June (previously reported as 0%). The release...
Fundamental Analysis
Canadian Retail Sales Still Soft in July
Headline sales edged up 0.4%
Volume sales were unchanged in July, both from the prior month and a year earlier
Canadian retail sales have...
Fundamental Analysis
Market Brief: GBP Dumped As Brexit Hopes Dashed
At midday in London, the GBP has gone from being the strongest yesterday to one of the weakest currencies today, although only bettered...
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BOE Stays Put But Warns of the Market Volatility in Case of Further Brexit Delay
BOE voted 9-0 to leave the Bank rate unchanged at 0.75%. It also maintained the asset purchase program at 435B pound and corporate purchase...
FOMC Cut Rate by -25 bps. Third Cut Still Possible Despite Sounding Less Dovish
Fed lowered the policy rate by -25 bps to 1.75-2.00%, although market expectations of a rate cut diminished markedly ahead of the meeting. The...
Fed Cuts Rates 25 Bps. Is Further Easing On The Way?
FOMC Cuts Rates and Dot Plot Shifts Lower
As widely expected, the Federal Open Market Committee (FOMC) reduced its target range for the fed funds...
FOMC Recap: “Hawkish Cut” Confirmed as Most Fed Members Don’t Expect Another Cut This Year!
As we anticipated in our FOMC Preview report earlier today, the Federal Reserve did follow through with the predicted 0.25% interest rate cut, leaving...
EUR/USD Outlook: Euro Eases Towards 1.10 Support after Repeated Rejection at Trendline Resistance
The Euro fell near 1.10 support in mid-European/early US trading on Friday, following repeated upside rejection at bear-trendline, drawn from 1.1412 (25 June high)...
Sunset Market Commentary
Markets
There were few economic data in Europe and the US today. European and US equities indices show modest gains. Investors probably felt some comfort...
Brexit Warnings Overlooked, Exhausted Trading And Cannabis Banking Bill
Brexit surpasses BoE warnings
The statement made by the BoE has a rather muted impact on financial markets as most market reaction is mainly driven...
EUR/USD Could Maintain Consolidation
Yesterday, the Euro continued to consolidate against the US Dollar between the weekly and monthly PPs, located at 1.1038 and 1.1069 respectively.
During Friday morning,...
GBP/USD Tested Fibonacci 23.60% Retracement
On Thursday, the GBP/USD exchange rate reached the 1.2560 level. During today's morning, the rate reversed south from the Fibonacci 23.60% retracement at 1.2573.
It...
USD/JPY Squeezed By Moving Averages
Yesterday, the USD/JPY currency pair traded sideways at the 108.00 level. During Friday morning, the pair was testing the lower boundary of the short-term...
AUD/USD Could Still Edge Lower
The Australian Dollar has continued its downward movement against the US Dollar. The AUD/USD currency pair depreciated about 46 basis points during Thursday's trading...
USD/CAD Likely To Maintain Channel
The price movement of the US Dollar against the Canadian Dollar has been guided by an ascending channel. The currency pair tested the lower...
NZD/USD Pressure By 50– Hour SMA
The 50– hour simple moving average pressured the New Zealand Dollar lower against the US Dollar on Thursday.
As for the near future, given that...
GBP/USD May Exceed 1.31 By The End Of The Year
During September, the British pound is struggling to get out of the pit where it fell on the fear of no-deal Brexit. This decline...
EUR/USD Outlook: Euro Eases Towards 1.10 Support after Repeated Rejection at Trendline Resistance
The Euro fell near 1.10 support in mid-European/early US trading on Friday, following repeated upside rejection at bear-trendline, drawn from 1.1412 (25 June high)...
Sunset Market Commentary
Markets
There were few economic data in Europe and the US today. European and US equities indices show modest gains. Investors probably felt some comfort...
EURNZD Possibly Forming Triple Top Near 10-Month High
EURNZD is again attempting to overcome the 1.7590 resistance region tested multiple times over August. The bulls recent rally from 1.7000 is backed by...
EUR/USD Could Maintain Consolidation
Yesterday, the Euro continued to consolidate against the US Dollar between the weekly and monthly PPs, located at 1.1038 and 1.1069 respectively.
During Friday morning,...
EUR/JPY To Trade Sideways Today
The Eurozone single currency depreciated about 50 basis points against the Japanese Yen on Thursday. The currency pair tested the lower boundary of an...
Euro Trades Muted, Lack Of Fundamental Drivers
The euro mimicked price action in the US dollar which has remained rather flat. The common currency, however, was easing back on Thursday following...
Forex Technical Analysis: EUR/USD, USD/JPY, GBP/USD
EUR/USD
Current level - 1.1051
For the last couple of weeks we are observing price action limited between the ranges 1.0996 and 1.1077 which were briefly...
EUR/USD Turning Up
Pivot (invalidation): 1.1040
Our preference Long positions above 1.1040 with targets at 1.1075 & 1.1085 in extension.
Alternative scenario Below 1.1040 look for further downside with...
Yen Unchanged As Japan Inflation Falls To Two-Year Low
The Japanese yen was relatively unchanged after the Statistics Bureau of Japan released consumer prices data for August. They showed that the core inflation...
EURUSD 1.1110 Test
The euro currency is continuing to push higher against the US dollar on Friday, with the pair eroding all of its post-FOMC losses. The...
USD/JPY Squeezed By Moving Averages
Yesterday, the USD/JPY currency pair traded sideways at the 108.00 level. During Friday morning, the pair was testing the lower boundary of the short-term...
EUR/JPY To Trade Sideways Today
The Eurozone single currency depreciated about 50 basis points against the Japanese Yen on Thursday. The currency pair tested the lower boundary of an...
USDJPY Bearish Pressure Building
The US dollar is starting to hold below the 108.00 resistance level against the Japanese yen currency, as bearish short-term pressure builds on the...
USD/JPY Outlook: Consolidation To Precede Fresh Upside While Converged 10/100DMA’s Hold Dips
NZDUSD bears are at the wheel and have steered the pair back on track with the medium-term negative picture. The price recovered on September...
Forex Technical Analysis: EUR/USD, USD/JPY, GBP/USD
EUR/USD
Current level - 1.1051
For the last couple of weeks we are observing price action limited between the ranges 1.0996 and 1.1077 which were briefly...
USD/JPY Under Pressure
Pivot (invalidation): 108.10
Our preference Short positions below 108.10 with targets at 107.75 & 107.65 in extension.
Alternative scenario Above 108.10 look for further upside with...
Yen Unchanged As Japan Inflation Falls To Two-Year Low
The Japanese yen was relatively unchanged after the Statistics Bureau of Japan released consumer prices data for August. They showed that the core inflation...
Japanese Yen Extends Its Gains In The Asian Session
For the 24 hours to 23:00 GMT, the USD declined 0.34% against the JPY and closed at 108.03.
In the Asian session, at GMT0300, the...
USD Set To Correct?
Whilst we’re not seeking large moves, there are two pairs which could be looking to take advantage of the dollar over the near-term; USD/JPY...
Market Morning Briefing: The EUR-JPY Cross Is Stuck In Between 118.85 And 120
STOCKS
Bulls seem to be hesitating on the Dow, DAX and Nikkei, while the Bears seem to be in control in India, with the Sensex...
GBPNZD’s Nearly 2-Month Rally Dries up ahead of May High
GBPNZD after a decisive push north on September 13, fell inches short of the May high of 2.0020, plotting a shooting star suggesting the...
Sunset Market Commentary
Markets
There were few economic data in Europe and the US today. European and US equities indices show modest gains. Investors probably felt some comfort...
GBPAUD Spikes To 4-Month High, Additional Gains Could Be Limited
GBPAUD stretched Thursday’s impressive rally to a four-month high of 1.8492 on Friday and is ready to close the week up by 1.7%.
The RSI...
Brexit Warnings Overlooked, Exhausted Trading And Cannabis Banking Bill
Brexit surpasses BoE warnings
The statement made by the BoE has a rather muted impact on financial markets as most market reaction is mainly driven...
GBP/USD Tested Fibonacci 23.60% Retracement
On Thursday, the GBP/USD exchange rate reached the 1.2560 level. During today's morning, the rate reversed south from the Fibonacci 23.60% retracement at 1.2573.
It...
GBP/USD May Exceed 1.31 By The End Of The Year
During September, the British pound is struggling to get out of the pit where it fell on the fear of no-deal Brexit. This decline...
GBPUSD 1.2580 Reached
The British pound has extended its gains against the US dollar during the European trading session, with the pair reaching 1.2580 so far. The...
Pound Jumps On Brexit Deal Hopes, Dollar Edges Lower
Pound surges on rising odds of a Brexit deal; Barnier-Barclay meeting eyed
Dollar edges lower as other central banks hold steady, Treasuries slip
...
European Open – Juncker, Brexit, Gold, Oil
Sterling jumps on Juncker optimism
Stock markets across Europe are marginally lower as we head into a more peaceful end to the week, one that...
BoE Holds Rates Steady As Expected
The Bank of England’s monetary policy was seen to be in line with expectations. The central bank left interest rates and its asset purchase...
USD/CHF Aim @ 0.9870
Pivot (invalidation): 0.9940
Our preference Short positions below 0.9940 with targets at 0.9890 & 0.9870 in extension.
Alternative scenario Above 0.9940 look for further upside with...
SNB Decided To Keep Its Benchmark Interest Rate Steady At -0.75%
For the 24 hours to 23:00 GMT, the USD declined 0.42% against the CHF and closed at 0.9927.
In economic news, Switzerland’s seasonally adjusted trade...
EUR/CHF 4H Chart: Tests Weekly Resistance Level
The common European currency has appreciated about 1.70% in value against the Swiss Franc since September 5 after the currency pair reversed from a...
SNB Plays It Tactically Safe
As we had expected the SNB held policy rate at -0.75% and reiterated wiliness to intervene in FX markets for benefit of the overvalued...
EURCHF Still In A Downtrend, But Shows Early Reversal Signs
EURCHF bulls briefly overcame the formidable 1.0970 zone, which is the 23.6% Fibonacci retracement level of the down leg from 1.1475 to 1.0810, although...
USD/CHF Caution
Pivot (invalidation): 0.9960
Our preference Long positions above 0.9960 with targets at 0.9985 & 1.0000 in extension.
Alternative scenario Below 0.9960 look for further downside with...
Swiss Franc Trading A Tad Lower In The Asian Session
For the 24 hours to 23:00 GMT, the USD rose 0.40% against the CHF and closed at 0.9969.
In the Asian session, at GMT0300, the...
USD/CHF in Focus with FOMC and SNB Rate Decisions Looming
The USD/CHF has arrived at a critical technical juncture around 0.9950 ahead of the US Federal Reserve and Swiss National Bank rate decisions. The...
NZDCHF Undecided, Finds Support at 23.6% Fibonacci and 21-SMA
NZDCHF uncertain of direction has found support at 0.6280, this being the 21-day simple moving average (SMA) and the 23.6% Fibonacci retracement level of...
SNB Meeting: Too Early To Follow In Draghi’s Footsteps?
The Swiss National Bank (SNB) will announce its latest decision at 07:30 GMT on Thursday. For the first time in a long time, investors...
Canadian Retail Sales Increase in July, but Volumes Flat
Canadian retail sales were up 0.4% (m/m) in July, following a downwardly revised 0.1% decline in June (previously reported as 0%). The release...
Canadian Retail Sales Still Soft in July
Headline sales edged up 0.4%
Volume sales were unchanged in July, both from the prior month and a year earlier
Canadian retail sales have...
USD/CAD Likely To Maintain Channel
The price movement of the US Dollar against the Canadian Dollar has been guided by an ascending channel. The currency pair tested the lower...
USDCAD Bulls Relax Under 200-Day SMA
USDCAD bulls relaxed near the 200-day simple moving average (SMA) on Thursday, letting the price to slip back into the 1.3200 handle.
According to the...
USD/CAD Key Resistance At 1.3275
Pivot (invalidation): 1.3275
Our preference Short positions below 1.3275 with targets at 1.3250 & 1.3235 in extension.
Alternative scenario Above 1.3275 look for further upside with...
Canada’s House Price Index Advanced In August
For the 24 hours to 23:00 GMT, the USD declined 0.27% against the CAD and closed at 1.3258.
Data showed that Canada's house price index...
AUD/CAD 4H Chart: Breakout Occurs
Upside risks have dominated the Australian Dollar versus the Canadian Dollar since the beginning of September. After hitting the upper boundary of a long-term...
USD/CAD: Canadian CPI
The US Dollar depreciated against the Canadian Dollar, following the Canadian CPI data release on Wednesday at 12:30 GMT. The USD/CAD exchange currency rate...
USD/CAD Targets At 1.3337
The US Dollar appreciated about 63 basis points against the Canadian Dollar on Wednesday. The 50– hour simple moving average provided support for the...
USD/CAD Looking For More Upside Continuation
The USD/CAD is looking for more upside bounce if the price stays supported above the W L3 Pivot.
1.3235-50 is the POC zone. Any bounce...
GBPAUD Spikes To 4-Month High, Additional Gains Could Be Limited
GBPAUD stretched Thursday’s impressive rally to a four-month high of 1.8492 on Friday and is ready to close the week up by 1.7%.
The RSI...
AUD/USD Could Still Edge Lower
The Australian Dollar has continued its downward movement against the US Dollar. The AUD/USD currency pair depreciated about 46 basis points during Thursday's trading...
Pound Jumps At Junker’s Comment
The pound jumped against the USD yesterday, as media reported that EU Commission President Juncker stated in an interview that a deal for Brexit...
AUD/USD Key Resistance At 0.6810
Pivot (invalidation): 0.6810
Our preference Short positions below 0.6810 with targets at 0.6775 & 0.6760 in extension.
Alternative scenario Above 0.6810 look for further upside with...
Aussie Trading Lower In The Morning Session
For the 24 hours to 23:00 GMT, the AUD declined 0.45% against the USD and closed at 0.6796.
LME Copper prices rose 0.2% or $13.5/MT...
Cliff Notes: With the Risks in Mind
Key insights from the week that was.
For Australia, the week got underway with the release of the September RBA minutes. The minutes had a...
Market Morning Briefing: The EUR-JPY Cross Is Stuck In Between 118.85 And 120
STOCKS
Bulls seem to be hesitating on the Dow, DAX and Nikkei, while the Bears seem to be in control in India, with the Sensex...
AUD/USD Trimming Gains, Can It Bounce Back?
Key Highlights
The Aussie Dollar topped near 0.6895 and declined recently against the US Dollar.
AUD/USD broke an ascending channel with support near 0.6870...
AUD/CAD 4H Chart: Breakout Occurs
Upside risks have dominated the Australian Dollar versus the Canadian Dollar since the beginning of September. After hitting the upper boundary of a long-term...
AUD/USD Outlook: Aussie Extends Weakness On Less Dovish Than Expected Fed, Rising Expectations For RBA Rate Cut
The pair stays firmly in red for the second straight day and test levels below 0.68 handle after break below daily cloud base (0.6815)...
GBPNZD’s Nearly 2-Month Rally Dries up ahead of May High
GBPNZD after a decisive push north on September 13, fell inches short of the May high of 2.0020, plotting a shooting star suggesting the...
EURNZD Possibly Forming Triple Top Near 10-Month High
EURNZD is again attempting to overcome the 1.7590 resistance region tested multiple times over August. The bulls recent rally from 1.7000 is backed by...
NZD/USD Pressure By 50– Hour SMA
The 50– hour simple moving average pressured the New Zealand Dollar lower against the US Dollar on Thursday.
As for the near future, given that...
NZD/USD Strong Downtrend In Progress
The NZD/USD has formed a rounded top that cues for the price to proceed further down. We might see new lows very soon.
The Rounded...
NZDUSD Still Bearish, But Forming Possible Double Bottom
NZDUSD bears are at the wheel and have steered the pair back on track with the medium-term negative picture. The price recovered on September...
Cliff Notes: With the Risks in Mind
Key insights from the week that was.
For Australia, the week got underway with the release of the September RBA minutes. The minutes had a...
NZD/USD Bears Market
Bearish sentiment pressured the New Zealand Dollar against the US Dollar on Wednesday. The currency pair fell by 0.93% in value during yesterday's trading...
Dollar Rises After The Second Consecutive Fed Rate Cut
The dollar strengthened while stocks declined after the Federal Reserve made its interest rates decision. As expected, the bank slashed interest rates by 25...
First Impressions: NZ GDP, June Quarter 2019 +0.5% (Mkt f/c: +0.4%)
The New Zealand economy grew by 0.5% in the June quarter, slightly more than market forecasts. The pace of growth has slowed substantially over...
NZDCHF Undecided, Finds Support at 23.6% Fibonacci and 21-SMA
NZDCHF uncertain of direction has found support at 0.6280, this being the 21-day simple moving average (SMA) and the 23.6% Fibonacci retracement level of...
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