The index had a bearish session on Thursday and it’s expected to test the 200 SMA anytime soon. The support zone of 89.36 still holds across the board and we forecast a possible breakout below that area in order that USDX plummets toward the 87.88 level. MACD indicator is supporting the aforementioned bearish idea, as […]

GBP/USD didn’t manage to consolidate below the support zone of 1.3939 following a false breakout on February 22. The 200 SMA is still offering dynamic resistance and if it manages to break above this indicator, the next target will lie at 1.4078. MACD indicator still supports the bullish scenario in the short term. H1 chart’s […]

The Loonie has been making downward movements against the dollar for almost two months. The pair is now trading near the two-month low following weaker data and increasing concerns about NAFTA. The USD/CAD is now trading at 1.2713. All this could change today when Statistics Canada releases the country’s inflation data. In theory, a rising […]

Here are the latest developments in global markets: Forex: The dollar index was nearly 0.4% higher on Friday, recouping some of the losses it posted earlier on Thursday. Kiwi/dollar was a notable mover as well, tumbling 0.6% despite stronger-than-expected data out of New Zealand overnight. STOCKS: US markets were mixed on Thursday, providing yet another sign that […]

These are the Daily Trading Signals for Friday. Here’s how the technicals compare with the interbank at 8 AM GMT. Euro/Dollar has an equal number of 4 neutral signals in all three time scales, but the 22% long interbank is bullish. The Cable’s short term indicators are split between bearish and neutral. Mid and long […]

Morning Report: 07.00 London This morning, the dollar is rebounding after yesterday’s reversal, putting renewed pressure on the dollar pairs that were unable to capitalise on yesterday’s benign conditions. One such pair is the NZD/USD which barely saw an upwards move yesterday. Other pairs such as the EUR/USD enjoyed bigger gains yesterday, so have further […]

USDCAD climbed sharply above the 1.2685 level during Thursday’s trading session and posted a new 2-month high near 1.2755. However, the price ended the day slightly above its opening level and struggled below the 38.2% Fibonacci retracement level of the down-leg with the high of 1.3800 and the low of 1.2060.  The technical indicators now […]

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The US Secretary of Defence says he supports the Commerce Department’s actions on steel and aluminium trade. He also said that targeted tariffs are preferable to a global quota or a global tariff. This would impact EU based steel companies as well as those based in China. French Consumer Price Index (EU norm) (YoY) (Feb) […]

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NZD/USD found support at the dynamic level of 20 EMA today which is expected to push the price higher in the coming days. New Zealand published mixed economic reports whereas the market sentiment favours USD ahead of the possible rate hike in March. Recently, New Zealand’s PPI Input report was published with better than expected […]

AUD/USD has been quite impulsive with the bearish pressure which is currently proceeding towards the support area of 0.7750. AUD has been struggling with the worse economic reports recently which affected its gains against USD. Recently, the Australian Construction showed an increase to 19.4% from the previous reading of 16.6% which was a significant decrease […]

USD/CAD has been quite impulsive with the bullish gains recently after breaking above 1.2620 resistance area which has also been retested as support. USD has been quite impulsive with the gains recently having Rate Hike prediction in March which is expected to inject more USD bulls in the process whereas CAD has been struggling with […]

Oil prices tumbled in February, erasing the gains they posted earlier in the year, amid signs of surging US production and the broader stock market unrest. The precious liquid has stabilized somewhat in recent days, but given that the increase in US output shows no signs of abating, this may simply be a reprieve before […]

Retail giant Amazon reached a fresh all-time high during Wednesday’s trading, exceeding $1,500. By the end of the session it lost some ground amid a broader market retreat, though it still finished the day higher, with its market capitalization settling at $717.9 billion. For a bit of perspective, retailer Walmart, whose stock price recorded losses […]

AUDUSD has reversed back down again after finding resistance at the 0.7990 resistance level achieved last week. Also, the price slipped below the 23.6% Fibonacci retracement level at 0.7826 of the up-leg with the low of 0.6820 and the high of 0.8100 in the medium-term timeframe during yesterday’s session. The downside pressure seems to be […]

As the US government looks to raise $258 billion in Treasury auctions this week, the risk from a ballooning US deficit is weighing on investors’ minds as concerns grow about the sustainability of the worsening fiscal shortfall in the United States. The prospect of a burgeoning budget deficit comes at a time when the country’s […]

In the last three months of 2017, the British economy grew at a quarterly rate of 0.4%, which clearly disappointed economists as a rise of 0.5% was expected. The lower reading was significantly influenced by lower individual consumption (0.3%, consensus: 0.4%), whose impact was strongly sought by the increase in the government spending (0.6%, consensus: […]

The Dollar extended gains against a basket of major currencies on Wednesday following January’s hawkish FOMC meeting minutes. Sterling ventured lower on Thursday after UK GDP data for the final quarter of 2017 was revised down. In the commodity arena, Oil prices were pressured by the oversupply concerns while GOLD edged lower thanks to an […]

The Dollar extended gains against a basket of major currencies on Wednesday following January’s hawkish FOMC meeting minutes. Sterling ventured lower on Thursday after UK GDP data for the final quarter of 2017 was revised down. In the commodity arena, Oil prices were pressured by the oversupply concerns while GOLD edged lower thanks to an […]

The minutes of the January FOMC meeting did not include any hawkish hints, which resulted in temporary disappointment of investors and weakening of the US Dollar. Nevertheless, the assessment of the outlook for the US economy which was raised in the recent FOMC statement means that the March interest rate hike is decided. Such a […]

GOLD BULLION rallied just $3 off a 1-week low versus the rebounding Dollar on Thursday as world stock markets fell after notes from the Federal Reserve showed the US central bank expects to keep raising its key interest rate in 2018.   China’s stock market opened sharply higher on the first trading day of the […]

The New Zealand Dollar has been strengthening on improving inflation expectations, as reported in a recent Reserve Bank of New Zealand (RBNZ) survey. Earlier this week, a government-commissioned report on the economic impact of the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP) estimated the economy would grow between 0.3 percent and 1 percent, with exporters having […]

NZDUSD is trading lower over the last four days after it created a double top at the 5-month high of 0.7435 on February 16. The double top reversal is a bearish pattern indicating further losses on the price action. When looking at the bigger picture the pair lacks a clear trend since it has been consolidating within 0.7175 – 0.7435 […]

Here are the latest developments in global markets: Forex: The dollar index deviated below ten-day highs reached earlier in the day, but remained 0.12% up on the day, last seen at 90.07. Yesterday, the FOMC meeting minutes spurred hopes that the Fed will hike rates four times this year, giving some lift to the dollar. […]