PLUS1
Foreign Exchange
GBP/USD Breaks Its 52-Week Low: Has That Provided An Edge In The Past?
Jul 17 2019 @ 03:00
GBP/USD Breaks Its 52-Week Low: Has That Provided An Edge In The Past? To be more precise, GBP/USD has actually closed to a 25-month low. But having recently tested how the S&P500 responded to its 52-week milestone, we extend our curiosity the cable. Brexit woes have continued to weigh on GBP, with reports of Boris […]
Weekly COT Report: Traders Remain Wary Of King Dollar
Jul 15 2019 @ 03:39
Weekly COT Report: Traders Remain Wary Of King Dollar As of Tuesday 15th July 2019: Traders were net-long USD $12.38 billion ($16.95 against G10 currencies), up by $0.1 billion to snap a five-week streak of long reduction Large speculators have been net-long CAD for two consecutive weeks, and at their most bullish level since March […]
USD/CAD Braces Itself For Volatility Ahead Of Powell and BoC
Jul 10 2019 @ 03:34
With Fed minutes, Powell’s testimony and a BoC meeting, it should make for a lively session for traders, with USD/CAD finding itself caught in the crossfire. Starting with volatility (lower panel) we can see that 1-week historical volatility has dropped as markets await this key date. However, implied 1-week volatility has also risen to show […]
FX Brief: Kiwi Spikes Aside, It’s Calm Before The Powell Storm
Jul 10 2019 @ 03:32
Kiwi Spikes Aside, It’s Calm Before The Powell Storm Were it not for the sudden spike on NZD crosses then ranges would have been typically small, given market are keenly awaiting comments from Powell later. The lack of news and immediate price reversal suggests its liquidity driven. USD and NZD are currently the strongest majors, […]
AUD/CAD Probes Key Support Ahead of BOC
Jul 09 2019 @ 02:45
The Canadian dollar has continued to gain traction and remains the strongest performing major this month, and has AUD/CAD on the back ropes just above the 2018 lows. The Canadian dollar has continued to gain traction and remains the strongest performing major this month. EUR/CAD posted a weekly close beneath its 2015 trendline last week […]
EUR/CAD Stalls At Major Juncture Ahead Of NFP
Jul 05 2019 @ 02:34
EUR/CAD is trying to break lower on the weekly charts, and today’s close along with which way it breaks outside of yesterday’s could be key for how the cross trades next week. Starting with the bigger picture, EUR/CAD is attempting to break beneath its April 2015 trendline on the weekly chart. Prices are already trading […]
GBP/AUD Continues To Unravel
Jul 03 2019 @ 02:56
Over the past six sessions, GBP/AUD’s downside has persisted as part of a bearish swing trade. And, now seemingly on the cusp of breaking key support after creating a lower high, we suspect the larger, bearish reversal is indeed coming into play. We highlighted previously that the rebound from July’s low lacked momentum, so we […]
USD/CAD Looks Set For A Corrective Bounce Before Losses Resume
Jul 02 2019 @ 03:29
Whilst we retain our core bearish view, a few indications point towards a corrective bounce before the dominant trend resumes. As we noted in our weekly COT report, net-short exposure on CAD futures was reduced by -23.3k contracts and gross shorts were closed at their fastest rate since July 2017. And this is after traders […]
RBA Preview: AUD/USD Holds Above 70c Ahead Of Expected Rate Cut
Jul 01 2019 @ 03:41
The consensus expects RBA to cut their overnight cash rate (OCR) to a new record low of 1% tomorrow. Yet it could be down to how dovish Lowe is in his subsequent speech as to whether 70c can crash though 70c. On the 16th June Philip Lowe said it was ‘likely’ RBA would have to […]
Weekly COT Report: Traders Ditch USD For A Fourth Consecutive Week
Jul 01 2019 @ 03:38
Weekly COT Report: Traders Ditch USD For A Fourth Consecutive Week As of Tuesday 25th June: Traders reduced net-long exposure to USD for a 4th consecutive week, shedding -$1.1 billion of long positions to $19.6k billion (23.3k billion against G10 currencies) The Canadian dollar saw the largest weekly change, where net-short exposure was reduced by […]
