EUR/USD lost the all-important triple-bottom around 1.1270. Economic divergence is behind the move. Here are the big levels to watch on the daily chart. Euro/dollar breached a level that supported it three times. 1.1270 was hit in November, then in December, and finally in February before the pair broke to lower ground. While the move … “EUR/USD: where next after falling below 1.270? The levels to watch”
Category: Opinions
Where EUR/GBP can go to in these five Brexit scenarios
With fewer than 50 days until Brexit Day, all the options are on the table. Brits living in the continent and Europeans in the UK are thinking what to do with their funds. There are five plausible scenarios with different outcomes for the euro/pound. Time is running out to reach a deal on Brexit, with … “Where EUR/GBP can go to in these five Brexit scenarios”
Can CAD continue climbing after the superb Canadian jobs report
USD/CAD rose on the global mood but plunged on an excellent Canadian jobs report. A light calendar leaves sentiment and oil prices in the limelight. The technical picture is balanced for the pair. This was the week: Gloom is back, and oil is down After a week that was dominated by the Fed’s dovishness, the … “Can CAD continue climbing after the superb Canadian jobs report”
Bitcoin: SEC openness and double-bottom provide hope
Bitcoin begins bottoming out after a gradual decline. The SEC is reportedly warming to approving a Bitcoin ETF. The technical picture is improving for BTC/USD. After extending their grind lower, cryptocurrencies are on the move once again. BTC/USD stopped the bleeding at the double-bottom and began rising. Ethereum and Ripple lead the current recovery and … “Bitcoin: SEC openness and double-bottom provide hope”
The US consumer can get USD/JPY out of its balance
USD/JPY stuck to a narrow range amid weak data but an optimistic Powell. US retail sales, consumer confidence, and inflation stand out. The technical picture is balanced for the pair. This was the week: Disappointing data, Powell, Trump US data mostly missed expectations. The ISM Non-Manufacturing PMI dropped to 56.7 points, below expectations and going … “The US consumer can get USD/JPY out of its balance”
Loonie may not love Canadian wages – jobs report preview
Canada publishes the first jobs report for 2019 after significant gains. While a drop in positions will not be shocking, the deceleration in wages is worrying. USD/CAD awaits the publication without a specific bias, allowing the report to have its full impact. Canada releases the jobs report for January on Friday, February 8th, at 13:30 … “Loonie may not love Canadian wages – jobs report preview”
GBP/USD Buying opportunity? May could get deal through
PM May is moving away from renegotiating the Irish Backstop. Her tactics may get the original deal over the line. GBP/USD may rise if a hard-Brexit is avoided, not only delayed. UK PM Theresa May moved away from totally renegotiating the controversial Irish Backstop. In a speech in Belfast, the PM insisted that there would … “GBP/USD Buying opportunity? May could get deal through”
Oil: 3 ways Venezuela can impact prices
Venezuela is gripped in a deep political crisis that followed an economic one. The nation is a large oil exporter with the US importing a significant chunk of its oil. Here are three scenarios for the stand-off and the reaction in oil markets. Venezuela has the world’s largest proven oilreserves but mismanagement by the regime led … “Oil: 3 ways Venezuela can impact prices”
3 reasons why the Indian rupee is falling
The Indian rupee is ceding ground to the US Dollar. There are three primary drivers behind the move. The technical picture is bullish for USD/INR. The Indian rupee is falling against the against the US Dollar. At the time of writing, USD/INR is around 71.75 after hitting a daily high of 71.90. The pair is … “3 reasons why the Indian rupee is falling”
AUD/USD could fall if RBA acknowledges worsening conditions
The RBA reconvenes after the summer break, and the world has changed since early December. No change is likely, but a more dovish tone is undoubtedly possible. The recent Fed-fueled rally means a negative tone is not priced in. The Reserve Bank of Australia announces its decision on Tuesday, February 5th, at 3:30 GMT. The … “AUD/USD could fall if RBA acknowledges worsening conditions”