After the retreating in the North American session yesterday, despite a rebound in retail sales after three-months of declines, the greenback has been sold further in Europe and Asia. The euro edged through last week’s high near $1.24, and sterling rose through the January high to reach its best level since the mid-2016 referendum. Sterling…
It’s only logical that one day after Trump accused China (and Russia) of playing the “currency devaluation game” in a time of rising Fed rates, that Beijing would respond by doing precisely what it was accused of, and moments ago the PBOC announced that effective April 25, China’s central bank will cut the reserve requirement ratio…
The difference between the 10-year and 2-year Treasury rates narrowed to 47 basis points on Monday (April 16) – the smallest gap since late-2007. The last time this widely followed spread was this close to zero the US economy was close to a recession. Is this indicator flashing a similar warning today? No, according to…
Bitcoin fell again on Monday, as we are starting to see a bit of a pattern, the weekend which features mainly retail traders, will gain. However, once the institutional traders come back in, you see a lot of selling. BTC/USD Bitcoin fell on Monday against the US dollar, reaching back towards the $8000 level. I…
Short-term bears have the upper-hand on ES futures, as long as the market remains below the downtrend line on the daily. The line is the obvious bullish target and location of stops. Source: investing.com
Previous: On Monday the 16th of April, trading on the euro closed up. The euro started rallying as trading got underway in Europe. The main reason for this was the universal decline of the US dollar, brought about by America’s military action in Syria. Despite this, markets opened relatively peacefully. One thing I don’t understand is…
The EUR/USD is back to the well-known trading range after a short-lived move to the upside. The disappointing German ZEW figure casts another shadow over euro-zone growth. The technical picture is slightly bullish, but the range may remain the king. The EUR/USD is trading around $1.2380, balanced on the day. However, this does not tell the whole story….
While it’s no solace to equity investors at the moment, the fact that volatility has only been in stocks in the past two months is good news. As you can see from the chart below, the S&P 500’s volatility increased in early February, but the dollar, commodities, and extended duration treasuries had normal volatility. Stocks Alone In…
AUDUSD remains in the uptrend from 0.7642, the fall from 0.7809 could be treated as consolidation for the uptrend. As long as 0.7738 support holds, the uptrend could be expected to resume and a breakout of 0.7809 resistance could trigger further upside movement towards 0.7850. However, a breakdown below 0.7738 support would indicate that the…
EUR/CAD was trading bearish the last few days, but I still see it as a three-wave a-b-c correction where we can clearly see an Elliott wave ending diagonal pattern within wave v) of c. The first evidence of a reversal would be a break above 1.5630, but bulls would be confirmed only above 1.5815. EUR/CAD, 1h…
