USD/CAD failed to break above 1.2948 resistance and stays in a trading range between 1.2814 and 1.2948. Another rise to test 1.2948 resistance is possible, a breakout of this level could bring price to 1.3000, followed by 1.3124. Support is at 1.2803, only a breakdown below this level could trigger another fall towards 1.2650.
from the International Monetary Fund — this post authored by Tao Zhang Government debt in some of the world’s poorest countries is rising to risky levels, a new IMF report shows. The report looks at economic developments and prospects among the world’s low-income countries, which account for a fifth of the world’s population but only four percent of…
Tuesday’s sell-off did much to rattle the confidence of bulls; Thursday’s attempt to bid markets back to Tuesday’s highs lacked confidence as demonstrated by the relative gain and the lighter volume. Friday is an opportunity to give markets a little boost heading into the Easter weekend.Futures suggest a positive open so it will be a…
The chart below shows the Citi Economic Surprise Index for the US, compared against the broader G10 index, and the Europe index. The outperformance of US positive data surprises is stark… highlighting the dramatically non-synchornized nature of global growth. CitiFX senior trader Andrew Grosso warned that we need to pay attention to the short-term on…
Previous: On Thursday the 29th of March, trading on the EUR/USD pair closed slightly down. The US dollar gained ground against the single currency as traders adjusted their open positions ahead of the long weekend. The rate ended up dropping to 1.2284. US data: Michigan consumer sentiment index (Mar): 101.4 (forecast: 102.0, previous: 102.0). Personal income…
Biotech Bull Market Is Intact with Unusual Volatility Biotech Stocks Will Try to Regain Bullish Footing After A Flat First Quarter Technicals at Low End But Get Support From Double Bottom Time for Nibbling or Trading with Caution Biotech stocks got roughed up in the first quarter of 2018 with unusual volatility and peak prices…
The Japanese Yen rose in otherwise quiet Asia Pacific trade. The move built upon gains in the prior session, which took the currency higher against all of its G10 FX counterparts. Absent a clear-cut catalyst, the move may reflect markets on auto-pilot as liquidity thins into Good Friday holiday closures. European bourses will remain shuttered into the…
The Japanese Yen rose in otherwise quiet Asia Pacific trade. The move built upon gains in the prior session, which took the currency higher against all of its G10 FX counterparts. Absent a clear-cut catalyst, the move may reflect markets on auto-pilot as liquidity thins into Good Friday holiday closures. European bourses will remain shuttered into the…
It’s a beautiful trifecta for Tesla this evening, provided you are short. I have no position. MarketWatch reports Tesla stock falls even farther after recall of 123,000 Model S cars. Tesla Inc. finished off its worst month in seven years with the news late Thursday that the electric-auto maker is recalling 123,000 Model S vehicles due…
While silver investment demand is totally off the radar, certain indicators, including the Gold-Silver ratio, suggest that interest in the poor man’s gold will likely increase significantly over the next few years. The rising interest in silver will also occur as the broader markets continue to meltdown towards more realistic valuations. In my recent youtube video, Amazing…
