Author: FX
Laurentian Bank of Canada Non-GAAP EPS of C$1.15, revenue of C$260.1M Source link
The understanding of Support and Resistance is probably one of the most fundamental knowledge that a technical traders should have, along with other key elements in technical analysis. This is because the understanding of Support and Resistance provides traders the basic tools to shift their perspective from being a reactive trader to one who anticipates where price may move towards, where it may reverse, and where it may stop. Traders who understand Support and Resistance often has the perspective of waiting for the optimal areas where to enter the market rather than chasing price movements. The strategy that will be…
CRUDE OIL ANALYSIS & TALKING POINTSPrice ranges are tightening before looming dataThe market remains dogged by a stronger Dollar and demand worriesThe US will release more crude from its reserve on Tuesday Recommended by David Cottle Get Your Free Oil Forecast CRUDE OIL FUNDAMENTAL BACKDROPCrude oil prices look a little stuck on Tuesday, perhaps as the market awaits key economic data due later in the week.The market certainly remains weighed down by some fundamental pressure, with strong US inventory re-build revealed last week still dragging on it. More general worries about end-user demand are also palpable, as investors fret reduced…
On the daily chart below, we can see that the descending triangle got finally broken. The first key resistance now will be the 1.37 handle and if the buyers manage to break that, then the 1.40 handle will be the next target. The moving averages are clearly crossed to the upside supporting the bullish trend. February was a good month for the USD as basically all the key economic data came out hot and made the market to revise upward its expectations on future interest rates path. The Bank of Canada, on the other hand, has paused its tightening cycle,…
Share: Switzerland’s government said in a statement on Tuesday that it expects an economic slowdown but no recession this year. This comes after the Swiss economy showed no growth in the fourth quarter of 2022, in the face of a “challenging international situation”. On a quarterly basis, the country’s Gross Domestic Product (GDP) arrived at 0% in Q4 2022 vs. a growth of 0.3% and 0.2% recorded in the third quarter. Meanwhile, the USD/CHF pair is consolidating gains below 0.9340, currently trading 0.19% higher on the day at 0.9371. Source link
Reversal alert! Brent crude oil has been cruising below a descending trend line since the middle of the month, but it looks like a breakout is brewing. The commodity price has formed higher lows over the past few days, suggesting that bullish pressure is building up. But what are technical indicators saying? Brent Crude Oil (UKOIL) 1-hour Chart by TradingView As you can see from the hourly chart above, the 100 SMA is still below the 200 SMA to reflect bearish vibes. Not only that, but the 200 SMA is even close to the trend line resistance to add to…
BTC / ETH (D1) Bitcoin is down 5.34% in the past seven days and stands at the $23,344 level. Ethereum meanwhile is at the $1,625 level and also fell by 4.05% during the same period. We observe that despite this decline, BTC, ETH and cryptocurrencies as a whole are showing a certain resilience and remain at elevated levels, particularly in the face of the rise in the US Dollar, and the USDIndex which is at 104.76, having breached 105.00 last week. USDindex Last Friday, Core US CPE , which represents household spending and is considered the benchmark for inflation, recorded a surprise rise (0.6% versus 0.4%); this figure could therefore have a strong…
After the worst week since September for stock markets last week, on Monday the US and Europe markets closed flat and end of month profit taking and account balancing has tipped Asia into the red today. The USD tested 2023 highs (105.35) yesterday but is lower today. Overnight: Japan reported strong CPI (3.15), Housing and Retail Sales data AUD Retail sales picked up (1.9% vs. -4.0%) and GER Import prices were weaker than expected as energy prices continue to decline. FX – USD Index tested into 105.35, just 4 pips shy of the 2023 high…
Japan +0.08%. Japan Industrial Production, preliminary for January -4.6% m/m (expected -2.9%). Japan data – January retail sales +1.9% m/m (expected +0.4%) & +6.3% y/y (expected +4.0%). Bank of Japan’s deputy governor Masazumi Wakatabe reiterated his support for the central bank’s inflation target of 2%, according to a transcript of his speech delivered at Columbia University. China +0.66%. Hong Kong -0.40%. Australia +0.47%. Australian data – January Retail Sales 1.9% m/m (expected +1.5%). Australia weekly consumer confidence 80.0 (down from 80.4 the previous week). More Australian data: Q4 net exports are 1.1% of GDP (vs. expected +1.3%). Australian data -…
© Reuters. FILE PHOTO: Pound Sterling notes and change are seen inside a cash resgister in a coffee shop in Manchester, Britain, Septem,ber 21, 2018. REUTERS/Phil Noble By Rae Wee SINGAPORE (Reuters) – The U.S. dollar resumed its rally on Tuesday following a brief pause at the start of the week, putting it back on track to end the month with an impressive gain after a four-month losing streak. Market expectations that the U.S. Federal Reserve would have to raise rates more than initially expected, which gained steam following a slew of upbeat economic data from the United States, have…