BTC/USD trades in a narrowing wedge at the wake of the new year. There are three reasons why the grandaddy for cryptocurrencies should rise. The charts show BTC/USD is trading in a narrowing wedge with rising momentum. The experts poll shows a sideways move in the short-term. Bitcoin kicked off the year by getting comfortable … “Bitcoin: 3 reasons why it is set to rally”
Month: January 2019
US Dollar Loses Against Rivals Despite Stellar Jobs Report
The US dollar is losing against some of its major currency rivals at the end of the trading week, despite the US government reporting better-than-expected jobs numbers for December. The greenback is looking to maintain the momentum it had in 2018 when it recorded its best annual performance since 2015. According to the Bureau of Labor Statistics (BLS), the US economy added 312,000 new jobs last month, beating median estimates of 182,000. … “US Dollar Loses Against Rivals Despite Stellar Jobs Report”
Canadian Dollar Rallies on Upbeat NFP and Canadian Jobs Data
The Canadian dollar today rallied against its US counterpart after the release of jobs reports from both countries that beat expectations. The USD/CAD currency pair spiked briefly after the release of the US non-farm payrolls, but headed lower shortly thereafter as the loonie recovered. The USD/CAD currency pair today dropped from an Asian session high of 1.3492 before dropping to a low of 1.3419 in the early American session. The currency pair was … “Canadian Dollar Rallies on Upbeat NFP and Canadian Jobs Data”
NFP is good for the dollar, but there’s one exception
December’s jobs report smashed expectations on all measures. The US Dollar is on the rise, but stocks can send it lower against the yen. The Fed’s balancing act becomes more complicated. The US gained no less than 312K jobs in December, far above 177K or a slightly higher number as the ADP private sector report … “NFP is good for the dollar, but there’s one exception”
USD/JPY recovery looks temporary
USD/JPY dropped sharply and suffered a “flash crash.” Inflation and services data stand out in the first full week of 2019. The pair looks oversold, but that does not mean it will rise This was the week: Flash crash as fears grow Worries about the state of the Chinese economy, the world’s second-largest, weighed on … “USD/JPY recovery looks temporary”
CAD could climb on the BOC, after being pumped up by oil
The loonie suffered from stocks but recovered with oil prices The BOC decision is the main event in the first full week of 2019. The technical picture is bullish for the pair. This was the week: Oil jitters and stuttering stocks Oil prices made a more meaningful recovery, bouncing on reports that Saudi Arabia and other … “CAD could climb on the BOC, after being pumped up by oil”
Euro Drops on Weak PMI and CPI Data, Trades Sideways Before NFP
The euro today largely traded sideways against the US dollar following yesterday’s significant recovery from lows last witnessed in mid-December. However, despite the recovery, analysts are still predicting that the euro is likely to be in a bearish trend for most of January. The EUR/USD currency pair today traded in a range between a high … “Euro Drops on Weak PMI and CPI Data, Trades Sideways Before NFP”
Canadian Dollar Surges to Two-Week High on High Energy Prices
The Canadian dollar surged to its best level in two weeks, just days after lodging its worst annual performance since 2015. The loonie is gaining steam on higher energy prices, but investors are looking to Fridayâs labor report, which could signal how the Bank of Canada (BOC) will move on interest rates later this month. On Thursday, US crude oil prices inched towards the $47 mark, … “Canadian Dollar Surges to Two-Week High on High Energy Prices”
3 reasons for the USD weakness
The US Dollar is on the back foot and it’s not only a “flash crash”. The move is broad, with commodity currencies also taking advantage of the fall. There are three reasons for the fall. Cascading stops in the most illiquid hours of the day when Japan was on holiday were all blamed for the … “3 reasons for the USD weakness”
Euro Recovers From Yesterdayâs Flash Crash Ahead of US Data
The euro today was on a recovery path following yesterday’s “flash crash” that was triggered by Apple’s profit warning based on the economic slowdown in China. The EUR/USD was also under pressure due to the decline in German bond yields and the placing into administration of an Italian bank by the ECB. The EUR/USD currency … “Euro Recovers From Yesterdayâs Flash Crash Ahead of US Data”