Author: FX
CANADIAN DOLLAR, NASDAQ 100 OUTLOOK:Canadian dollar weakens, pressured by lower oil prices and the broader U.S. dollar reboundUSD/CAD breaks above its 200-day simple moving average, a positive sign for bullsNasdaq 100 slides, with prices rejected at resistance and forging a double topMost Read: Gold (XAU/USD) Price Under Yield Pressure, Support Level Nears of clients are net long. of clients are net short. Change in Longs Shorts OI Daily -18% 17% -5% Weekly 2% 25% 12% USD/CAD ANALYSISThe U.S. dollar, as measured by the DXY index, regained lost ground on Wednesday after moderate losses in the previous session, boosted by rising…
It is often said that success comes to those who embrace change. Successful businessmen, for example, create new products and services that cater to the ever-changing demands of customers. The age-old saying, “The only thing constant in life is change,” isn’t any less true in trading. Of course, adapting to change isn’t easy, but as a forex trader, your job is to be flexible. Think of market themes as theories that traders create to make sense of what’s going on in the markets. Of course a theory can only be good if it truly captures trends in the market. If it…
One of the best tools that rich people have in order to grow their wealth is money. While many people work to earn money, rich people make their money work for them. That is by investing their money. By investing, they mean investing in the stock market. Now, investing in the stock market means that you are in it for the long haul and that it is a slow and steady process of earning money. While it is possible for simple folks to invest in the stock market, it can also be a very slow process. There are many people…
FTSE, S&P 500 Analysis Recommended by Richard Snow Find out what our analysts foresee in equites in Q2 UK Inflation Remains the Highest in Western EuropeEarlier this morning the Office for National Statistics (ONS) released the March inflation data which signaled more concern despite printing lower than the February data. For in depth coverage of the report refer to the pound sterling market alert. Headline CPI dipped to 10.1% from 10.4% and therefore remains in double digits, motivating markets to almost fully price in a 25 basis point (bps) hike from the Bank of England early next month. Furthermore, markets…
The Dollar rebounds at levels close to the yearly low on the back of increased hawkish rhetoric from FED officials. Dollar The Greenback rolls into midweek having found some significant support around the yearly low level at 100.50. Factors driving this buying pressure at a psychologically significant area can primarily be attributed to the hawkish comments made by several pertinent members of the FED. The general outlook from these members appears to maintain the outlook that inflation has eased, but not significantly enough to warrant a pivot just yet. On the contrary, there seems to be a growing consensus that…
On the daily chart below for XAUUSD, we can see that the bullish momentum has been waning trading into the major resistance at 2087 set in 2020. The price is now testing the red long period moving average which has been acting as support in the past few days. We are likely to see more selling pressure if the price breaks below it. The buyers should be leaning on this level targeting another push to the upside. In case we get a deeper pullback, the blue trendline will be the target for the sellers. Looks like a lot will depend…
Share: Euro gains a small lift versus the US Dollar on Wednesday after an upwards revision to Euro area inflation data for March. USD is supported by strong US banking results, persistent inflation and hawkish Fed commentary. Upside for Euro dependent on April inflation data and ECB Bank Lending Survey. The Euro (EUR) trades above 1.0960 against the US Dollar (USD) during the European session on Wednesday. The pair has gained a lift after Eurozone data showed an upwards revision of core inflation data for March, suggesting the ECB may be more aggresive in raising interest rates at their May meeting. EUR/USD has…
The USD rotated (USDIndex at 101.50) as Bonds lead with Yields higher too. Expectations for a 25 bp May Fed rate hike continued to rise on more hawkish Fedspeak, Bullard even talked of two more 25bp after May, Bostic sees 25bp in May and then a pause for the rest of the year. Stocks closed flat, BoA and J&J big beats, GS strong EPS but revenue missed. After hours Netflix missed subscriber numbers and shares tanked -12% on poor Q2 outlook – but full year offered better numbers and the losses were reversed completely. ECB’s Lane sees 3 more hikes…
In their March decision, Bank of England (BOE) members shared that they expect price levels to decline after a notable acceleration in February. But this week’s reports are showing that the U.K.’s labor market remains tight while inflation remains high! Not surprisingly, GBP traders are pricing in more tightening from the BOE. GBP/CAD 1-hour Forex Chart by TradingView Anticipation of further BOE tightening likely contributed to GBP/CAD jumping from its 1.6540 intraweek lows all the way to its current levels near 1.6700. Can GBP bulls keep up the pressure though? Note that 1.6700 psychological level lines up with the 61.8%…
POUND STERLING ANALYSIS & TALKING POINTSUK inflation beats forecasts but continues to trend lower.Bank of England 25bps hike in May an almost certainty.GBP/USD yet to show any significant move post-inflation. Recommended by Warren Venketas Get Your Free GBP Forecast GBPUSD FUNDAMENTAL BACKDROPUK’s Chancellor Hunt: “The CPI figures reaffirm exactly why we must continue with our efforts to drive down inflation.”The British pound is marginally weaker against the USD this morning despite UK inflation (see economic calendar below) surprised to the upside. Hawkish commentary from the Fed’s Bostic and Bullard seem to be carrying over from the US trading session but…