Currency

USD/CAD suffered its most bearish week of the year by Friday’s close, following weaker than expected earnings data within May’s NFP report. Prices appear stretched on the daily chart, so we’re hoping prices can retrace and consolidate below a resistance level before seeking a short setup. We’re targeting the February lows, which is also near […]

Weekly COT Report: As of Tuesday 4th June: Large speculators were net-long USD by $30.9 billion, -$0.36 billion from the prior week ($34.7 billion against G10 currencies JPY net-short exposure fell to a 3-month low Traders are their most bearish on GBP since mid-January GBP and JPY saw the largest volume change of -15.8k and […]

Sentiment was given a boost at the open with Trump’s announcement that US and Mexico have reached an agreement on immigration, providing another tailwind for equity markets. Over the weekend headlines poured in that US and Mexico had reached a deal with curb migration, allowing Mexico to avoid the 5% tariffs threatened by Trump. Still, […]

With headlines surrounding tariffs and Fed cuts subsiding, it allows NFP to have its monthly spotlight back. As for the dollar, earnings could prove to be the difference between bullish or bearish. As Matt Weller outlined in his NFP Preview, the Fed will be keeping a close eye on the wage component of the report […]

News that US Congress could challenge Trump’s tariffs on Mexico saw a reversal of fortunes for a bruised USD, creating a series of potential reversal patterns for some USD markets.   Late on the 31st May in the US, President Trump roiled markets by threatening a 5% tariff on all Mexican goods. Naturally this saw […]

It seems that Donald Trump’s long awaited state visit to the UK has come at the right time for the financial markets, which have stabilised during his absence from the United Sates. In fact, the Dow Jones rallied on Tuesday by more than 300 points after Monday’s tech-driven sell-off, which came following Trump’s proposed regulation […]

If you’re new to foreign exchange (forex) trading then one of the first things you need to do is to build a strategy you can use to trade. If you don’t have a strategy, you’ll just make trades at random, which is a good way to lose all your money fast. Your strategy should include […]

A zone around 70c provides a pivotal zone for Aussie traders after the RBA cut rates by 25 bps today. The longer-term trend remains bearish, as seen by the 50 and 200-day eMA’s pointing lower. Yet we’ve seen a counter-trend rally back to the 50-day average where it’s found a cluster of resistance around 70c, […]

STATEMENT SUMMARY: RBA lowered the cash rate by 25 basis points to 1.25% Downside risks stemming from the trade disputes have increased Outlook for GDP and CPI remain unchanged Strong employment growth has led to pick-up in private sector wage growth (yet remain low overall) Lower than expected CPI suggests subdued inflationary pressures across the […]

Trump’s trade war on two fronts saw equity markets and indices move broadly lower on Friday and safe-haven demand rise. By the close, US treasuries were yielding just 2.1% (lowest since September 2017) and DJI fell further way from its neckline after breaking out of a head and shoulders pattern earlier in the week. Demand […]