Reasons for going long on USDCAD 1. Market is already in an up trend 2 . 2 Major support lines on chart. 3. A pennant pattern which is most likely to break up Set take profits and stop loss as seen on chart.
The New York (NY) Times carries fresh headlines on Tuesday, citing that the US is considering banning some or all products made with cotton from China’s Xinjiang province.
The report said the ban could be announced as early as Tuesday, in response to the use of forced labor on minority Muslims (Uigh
EUR/USD is sidelined near 1.1915 during Wednesday's Asian hours.
Tuesday's bearish pin bar represents uptrend exhaustion and suggests scope for a pullback.
EUR/USD could see a notable pullback in the short-term as the daily chart shows signs of uptrend exhaustion.
On Monday, the pair faced reject
Market movers today
We expect Norges Bank to keep the policy rate unchanged at 0.00% and not send any new signals today (see more below).
The ECB minutes will cover the relatively uneventful meeting in July.
We also get US jobless claims.
The Turkish central bank rate decision is due — we ex
The differing monetary policies adopted by Australia and New Zealand are diverging the values of their respective currencies, with the Australian Dollar surging against the close tied neighbour. Generally, the Australasian currencies trade similarly due to the geographical positioning and having sim
Despite the sharp declines seen at the end of last week, equity markets still finished higher for the second week in a row, with US markets still within touching distance of their all-time highs.
There appears to be an increasing nervousness, despite the gains of the last 100 days, that for all of t
Gold blasted to an all-time record of $2055 for the first time Treasury yields hit record lows earlier in the session. US crude oil closed well above the top of its March gap to print +42 for the first time in 5 mths, but still closed below its 200-DMA. The franc was the top performer while the JPY
The German IFO Business Survey Overview
The German IFO survey for June is due for release later today at 0800 GMT. The headline IFO Business Climate Index is seen improving to 89.3 versus 86.2 previous.
The Current Assessment sub-index is seen arriving at 85.0 this month, while the IFO Expectations
The Australian stock market has pared initial gains after rising on Friday despite the weak cues overnight from Wall Street on worse-than-expected weekly jobless claims data. Investors remained cautious amid the rising number of coronavirus cases worldwide.
The benchmark S&P/ASX 200 Index is add
Tensions between both China and the US is garnering attention financial markets again.
We are seeing tit for tat sanctions between Beijing and Washington with the latest headline, China to implement sanctions on US officials, entity over Hong Kong in retaliation for the signed HK executive order by
There are some concerns developing with gold.
Thursday was day 23 for the daily gold cycle. That places gold in the early part of its timing band for a daily cycle low. There are bearish divergences developing on the oscillators and gold also formed a swing high. The timing band, bearish diverge
As it can be seen in the chart, based on Elliot waves (we are in the middle of wave 4 which is a regular flat correction in here ( wave b is 75% fib of wave a)), the 60-day-period moving average (down trend), MACD ( under the zero line with longer histogram), the 21-day-peri
Indian shares followed global peers higher on Friday after U.S. regulators announced plans to ease restrictions on large banks' investments and a report showed U.S. orders for durable goods jumped in May by the most in nearly six years.
The benchmark S&P BSE Sensex jumped 290 points, or 0.83 per
A largely risk-on N.Y. session on Monday weighed on the Dollar as safe-haven flows were reversed, seeing the DXY pull back from Friday's three-week high of 97.72, to a low of 97.01. Wall Street headed moderately higher after opening in the red, while Treasury yields were little changed. Incoming U.S