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”
Category: Opinions
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”
USD/JPY: Set to get a reminder of what dovishness is from the BOJ
The BOJ is set to keep its policy unchanged at the last meeting of the year. The decision comes after the Fed, putting any dovishness into proportion. Any hint of future changes may boost the Yen, but the chances are meager. The Bank of Japan will announce its last rate decision of 2018 on Thursday, … “USD/JPY: Set to get a reminder of what dovishness is from the BOJ”
USD/JPY awaits Powell as fears push it down
USD/JPY advanced as China and the US got closer. The Fed decision is left, right, and center in the pre-Christmas week. The technical picture is mixed for the pair. This was the week: Trade improves, fading European risks, OK data USD/JPY remained a barometer of the global mood in markets, and the atmosphere improved. The … “USD/JPY awaits Powell as fears push it down”
USD/CAD has more room to rise along the upside support line
The loonie managed to recover, but oil and other concerns limited gains. A busy week features Canadian inflation and retail sales. The technical picture remains bullish for USD/CAD. This was the week: Hopes on trade, oil not recovering Trade relations took a decisive twist with China buying US soybeans and opening its ambitious 2025 to … “USD/CAD has more room to rise along the upside support line”
Bitcoin is in need of help from whales as it reels
BTC/USD flirts with new lows in a week that saw a gradual decline. Bitcoin needs another pre-Christmas rally to move up. The charts show oversold conditions, will a bounce follow? Bitcoin enjoyed a recovery of sorts during the weekend, reaching $3,600, but it began a gradual decline from that point onwards. The failure to stage … “Bitcoin is in need of help from whales as it reels”
USD/JPY: A Decline Below 112.23 To Confirm Selling Pressure But Downside Likely Limited – ING
Safe-haven flows sent the Japanese yen higher. What’s next? Will stocks continue lower? Here is their view, courtesy of eFXdata: ING discusses USD/JPY technical outlook and maintains a downward bias on a multi-day basis. “The recent trend change below the MA-50 line at 113.09 and the underlying trend line around 112.95 is suggesting short-term selling … “USD/JPY: A Decline Below 112.23 To Confirm Selling Pressure But Downside Likely Limited – ING”
Separating the risky from the safe currencies
Risk sentiment is the name of the game in recent days and will likely continue for quite a while. What currencies should we focus on? Here is their view, courtesy of eFXdata: SEB Research discusses the relationship between FX markets and risk sentiment in 2018. “The USD has outperformed all other G10 currencies in 2018, although … “Separating the risky from the safe currencies”
GBP/USD: 3 scenarios for the Brexit vote in Parliament
The UK Parliament will vote on the Brexit deal on December 11th. Uncertainty is high, but the government is unlikely to win. There are three scenarios with three different reactions for the Pound. Nearly two and half years after the British people shocked the establishment by voting to leave the European Union, an agreement has … “GBP/USD: 3 scenarios for the Brexit vote in Parliament”
CAD: BoC Sets For An Obvious Pause With A Slightly Hawkish Tone On Wed – CIBC
The Bank of Canada is set to leave rates unchanged. But will they hint of fresh rate hikes? Here is their view, courtesy of eFXdata: CIBC Research discusses its expectations for tomorrow’s BoC December policy meeting. That sets up the Bank of Canada for an obvious pause in rates this week, but the more interesting … “CAD: BoC Sets For An Obvious Pause With A Slightly Hawkish Tone On Wed – CIBC”