Conrad
EURUSD
On the chart some harmonic patterns along with wolfe wave and RSI divergence are seen but please wait for price return into channel to execute trade. First target is 1.012 and then second one is 0.9864 In economic news, domestically, Euro Zone economic sentiment rebounded in November slightly more t
USD/CNY: Oversold pair sees little action after PBOC's status quo rate decision
USD/CNY lacks a clear directional bias on Monday.
The PBOC keeps one- and five-year interest rates unchanged.
The pair looks oversold and due for a corrective bounce.
The People's Bank of China's (PBOC) decision to keep interest rates unchanged fails to elicit a reaction from the USD/CNY pair.
Standard Chartered Faces $13.6B Fine for Indian Bank Takeover
Photo: Standard Chartered
Enforcement Directorate, the Indian anti-money laundering agency, has slapped Standard Chartered bank with a 1 billion rupees ($13.6 billion) fine for breaking the country’s foreign exchange rules in a 2007 local bank takeover deal.
The orders for the fine was passed in A
Sugar: Downtrend will start if it drops below 12.90 support level
Weekly Forecast (August 17 - 21)
Uptrend scenario
The uptrend may be expected to continue, while market is trading above support level 12.9, which will be followed by reaching resistance level 13.8.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 12.9, whi
AUD/JPY sees little action as RBA minutes stick to the script
RBA minutes fail to elicit a reaction from Aussie dollar pairs.
AUD/JPY remains vulnerable to risk-off moves in global equities.
AUD/JPY is barely moving in response to the Reserve Bank of Australia’s August policy minutes released soon before press time. The minutes did not offer hawkish or dovis
Japan economy minister Nishimura pledges further government support for the economy
Nishimura commenting following the release of the very poor eGDP numbers earlier:
Japan GDP preliminary for Q2 -7.8% q/q (vs. expected -7.5%)
Comments:
Japan's economy in severe state but GDP contraction smaller than Europe, US economies
hope recovery in US, Europe, Chinese economies drive up ja
Cycle Trading: Weekend report preview
The Dollar
The dollar peaked on day 14. It formed a swing high and closed below the 10 day MA the next day to signal the daily cycle decline.
The dollar printed its lowest point on Thursday, day 20, placing it in the early part of its timing band for a daily cycle low. While the dollar did form
European equities open lower to start the day
Slightly softer tones as we get the session going
Eurostoxx -0.5%
Germany DAX -0.5%
France CAC 40 -0.7%
UK FTSE -0.6%
Spain IBEX -1.1%
The late drop in US stocks yesterday is among the factors weighing on sentiment here, though US futures are still keeping near flat levels as the European cash mar
Gold ETFs post seventh straight month of inflows – WGC
According to the latest World Gold Council (WGC) report, gold-backed exchange-traded funds (ETF) recorded their seventh consecutive month of positive flows.
Additional takeaways
“H1 of 2020 closing with a record US$40bn of net inflows.
Gold ETFs added 104 tonnes in June.
Taking global holdings to al
Australia raises minimum wage by 1.75% or $ 13 a week
In its annual wage review decision online, the Fair Work Commission, Australia's national workplace relations tribunal, announced that the national minimum wage to the country’s lowest-paid workers will rise by 1.75% or a $13 rise to $753.80 a week from July 1.
The 3% increase in 2019 was lower than
BOK sees limited financial market impact from North Korea risks for now
Amid escalating tensions between South and North Korea, Bank of Korea (BOK), the South’s central bank, is out with some conciliatory remarks, citing that it doesn’t see significant financial market impact from the latest risks from N. Korea.
Additional comments
“Will strengthen monitoring of financi
Pull-up Update