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USD/CAD Outlook (16 September 2020)

#USD/CAD# Overall, USD/CAD is ranging across. Yesterday, the U.S. announced the scrapping of the 10% aluminum tariff on Canada after they expect imports to decline. However, in a scenario whereby the declined amount is not as expected, tariffs will be applied to the excess imports.

Japan Industrial Production Data Due On Monday

Japan will on Monday release final July numbers for industrial production, highlighting a modest day for Asia-Pacific economic activity. In the previous reading, output was up 1.9 percent on month and down 18.2 percent on year, while capacity utilization gained 6.2 percent on month. Japan also will

ICYMI - Australian agents raid Chinese journalists' residences

The Global Times had this piece on Tuesday but its getting a little more attention today. Staff from the Australian intelligence agency recently raided the residences of Chinese journalists in Australia questioned them, seized their computers and smartphones, and asked them not to report the incid

China Manufacturing PMI Data Due On Monday

China will on Monday see August results for the manufacturing and non-manufacturing PMIs from the National Bureau of Statistics, highlighting a busy day for Asia-Pacific economic activity. In July, the manufacturing index had a score of 51.1 and the non-manufacturing index was at 54.2. Australia wil

US sells $51 billion of 5 year notes at a high yield of 0.298%

Tail -0.9 basis points The US treasury sold $51 billion of 5 year notes at a high yield of 0.298%. That was lower than the WI level of 0.307%.   High yield 0.298% vs. WI at 0.307% Bid to cover 2.71x vs six-month average of 2.48x Dealers 17.82% vs. 27.8% six-month average Directs 15.93% vs. 13.6% s

Silver Price Analysis: XAG/USD consolidates above 10-day EMA to regain $27.00

Silver prices extend recovery moves from $26.48 after flashing the heaviest losses in the week. RSI normalization suggest further run-up, monthly resistance line questions the bulls. Sellers will have a bumpy road with 21-day EMA and one-month-old rising trend line acting as nearby supports. Silver

GBP/USD: Robust UK retail sales and dovish Fed to cheer sterling up

GBP/USD has been retreating amid diverging disease curves across the Atlantic, yet other factors such as rising US yields and worries about Britain's furlough scheme were also in play. Is the pendulum about to swing in the other direction this week? UK retail sales, the Fed's minutes and coronavirus

Will TikTok find a way to stay in the US?

The talk was all about TikTok yesterday. President Trump was all set to ban its operations in the US. But then he had a change of heart and has given Microsoft a chance to buy its operations in the next 45 days. Microsoft is also in talks to acquire TikTok’s operations in Canada, Australia, and New

Recapping TradeON Summit 2020

Photo: TradeON The TradeON Summit is officially in the books. After a busy and successful day, the virtual event drew over 5,000 registered attendees, highlighted by over 30 sessions and workshops. If you could not make the event or wanted to watch any particular session you were unable to get too

Receiver of Citrades’ Binary Options Fraud Seeks to Hike his Pay

Photo: FM, Binary options have been a popular tool for defrauding investors Kenneth Dante Murena, the appointed receiver in the binary options fraud case targeting Michael Shah, seeks to hike his remuneration as the case deviates from a course which was previously approved by the court in earlier

AUD/USD: Muted response to below-forecast Aussie Retail Sales

AUD/USD remains sidelined near 0.7135 after Aussie data.  Australia's retail sales growth slowed sharply in June.  Broad-based US dollar losses and rally in gold help the AUD stay resilient. AUD/USD is barely moving in response to the weaker-than-expected Aussie data released at 01:30 GMT. The curr

European Shares Seen Opening Flat To Higher

European stocks may open on a positive note Friday, though underlying sentiment may remain cautious as coronavirus cases continued to increase in the United States and some other countries. The United States reported at least 60,565 new Covid-19 cases on Thursday, the largest single-day tally of cas

Yen and Franc Weaken Broadly, Euro Strength Uncertain

Yen and Swiss Franc are trading as the weakest ones for the week so far, partly due to the strong rebound in stock markets overnight. Sterling is following as the next worst performing as traders continue to price in Brexit uncertainties. Yet, it’s unsure which currency is benefiting most from the c

USD/CHF Price Analysis: Eases from monthly resistance line inside immediate triangle

USD/CHF extends losses from 0.9508 following the pullback from a four-week-old resistance line. June 12 top, key Fibonacci retracements add upside barriers. The triangle’s downside break can refresh monthly low. USD/CHF dwindles to 0.9470, down 0.10% on a day, during the pre-European session on Mon

AUD/USD Price Analysis: Aussie jumps to 50-hour SMA, prints double bottom on 1H

AUD/USD recovers to key hurdle as S&P 500 futures bounce from session lows.  The pair has printed a double bottom pattern on the hourly chart. The AUD/USD pair has recovered to the 50-hour simple moving average (SMA) of 0.6872 from the session low of 0.6850, tracking the positive turn in the S&

Pull-up Update