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Whether it come in the form of an outright increase in asset purchases (QE3) or a shift in the composition of its current balance sheet, the Federal Open Market Committee’s (or FOMC) policy meeting this week is expected to hold the reins for direction and volatility for the US dollar and broader market sentiment going [...]
The Loonie managed to erase its intraday losses against the Greenback and rose to a fresh daily high in recent trade, outperforming other commodity currencies like the Aussie and the Kiwi which are still trading lower on the day versus the Dollar. USD/CAD hit a day’s bottom at 0.9863 and it currently is quoting at [...]
The Euro is rising for the second day in a row against the Pound and recently reached a fresh 1-week high. The EUR/GBP broke above 0.8750 and jumped to 0.8790, the highest price since August 17. Currently is trading near the highs, eyeing 0.8800, posting a daily gain of more than 0.30%. The EUR/GBP is [...]
Sterling’s upside attempt witnessed on early European session has been capped at 1.6535, where the pair found resistance before plunging below 1.6475 day high to reach fresh one-week lows at 1.6415. The pair is trying to find support at 1.640 (Aug 18 low). Below here, next support levels would be at 1.6350 (Aug 17 low) [...]
EUR/USD pullback from day highs at 1.4475 has found support at 1.4425, and the pair has bounced back towards day highs, returning to 1.4470 after better than expected US Durable goods orders data. Immediate resistance lies at 1.4470/75 (day highs), and above here, 1.4500/15 (Aug 17/23 high) and 1.4535 (Jul 27 high). On the downside, [...]
Australian Dollar’s rejection from 1.0535 high on Tuesday, found support at 1.0445 low on early European session and the pair bounced up buoyed by positive market sentiment during European morning, to return to prices above 1.0500 ahead of Wall Street opening. Breach of 1.0500 increases pressure towards 1.0550/0600 area, according to the Kshitij Consultancy Services [...]
WTI Crude Oil (NY Close): $97.44 // +0.04 // +0.04% S&P 500 stock index futures are ticking aggressively lower ahead of the opening bell on Wall Street, threatening to pull crude oil prices downward amid market-wide risk aversion. Investors are running for the exits after the US Congress put off voting on one of the [...]
The GBPAUD is trading in a bearish condition, yesterday I was waiting for the GBPAUD to break the bottom of the range and it broke it earlier today, retraced back to the short term resistance and formed a significant pattern with downward pressure (this is what made me set my short stop order): Order details (pending [...]
Friday is going to be a big day in the markets as it is highly likely that we will go into the weekend without a resolution to the US debt ceiling debate. While this will certainly weaken the Dollar, at the end of the day when risk aversion increases due to potential structural issues, USD [...]
China reported a trade surplus that was more than three times larger than forecast in April as exports surged to a record, bolstering the U.S. case for faster yuan gains as officials from both nations meet for annual talks in Washington. The surplus widened to $11.4 billion and exceeded the forecasts of all 27 economists [...]