Tuesday, April 20, 2021

USD Weakens As Yields Remain Soft

Yesterday the dollar retreated to lows last seen six weeks ago, practically at the beginning of April, against a basket of its counterparts. It...

Hot Stories

Will a Bank of Canada Taper Lift CAD?

The Canadian dollar continues to drift this week. In the Tuesday session, USD/CAD is trading at 1.2532, down 0.02% on the day. Will the...

GBP/USD Outlook: Cable Retreats after Bulls Failed to Clearly Break 1.40 Barrier

Cable pulls back from new 6-week high, posted after brief probe through psychological 1.40 barrier, where bulls faced strong headwinds. Profit-taking after Monday’s 1.1%...

Risk Markets Consolidate on Pandemic Concerns, Dollar Recovering Mildly But Stays Weak

Some renewed concerns over global spread of coronavirus appears to be putting risk-on rally to a halt. In Japan, Tokyo Governor is seeking the...

US Open: Covid Fears Pull Futures Lower ahead of Earnings

Concerns that rising covid cases outside of the US could hinder the global economic recovery are dragging on sentiment as earnings season ramps up....

Pound Flirts with 1.40 but Retreats

The British pound is slightly lower on Tuesday, after posting sharp gains a day earlier. Currently, GDP/USD is trading at 1.3963, down 0.16% on...

FTSE Drops On Nicotine Curb Reports And Mixed Jobs Data, USD At 6-Week Low

Taking the lead from a weaker close on Wall Street and Asia overnight, European bourses are trending lower, with tobacco companies heading the charge...

Dollar Down Again of Record Retails Sales Fall, Gold Shines

Dollar weakens notably in early US session after retail sales data showed another record decline in April. Stock futures also tumble after the news...

US initial jobless claims dropped to 751k, continuing claims dropped to 7.3m

US initial jobless claims dropped -7k to 751k in the week ending October 31, slightly above expectation of 746k. Four-week moving average of initial...

Elliott Wave View: Ten Year Notes Remain Supported

Elliott Wave view in Ten Year Notes (ZN_F) suggests that it has a bullish sequence from October 2018 low, favoring more upside. Near term,...

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Regulation

Portugal Current Account Balance climbed from previous €-1.591B to €-1.582B in April

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Canada: Strong core inflation in 2019 – NBF

The Consumer Price Index in Canada rose 2.0% in April from a year ago. Matthieu Arseneau, an analyst at the National Bank of Canada,...

Eurozone Sentix rose to 5 in Mar, investors betting on faster opening of economy

Eurozone Sentix Investor Confidence jumped to 5 in March, up from -0.2, above expectation of 1. That’s also the highest reading since February 2020....

New Zealand Participation Rate came in at 70.4%, above forecasts (70.3%) in 3Q

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GOLD Continues To Surge

During the second part of Tuesday’s trading, the yellow metal’s price reached the resistance zone just above the 1,745.00 level. The metal immediately bounced...

PBOC sets Yuan reference rate at 7.0855

The People's Bank of China (PBOC) has set the Yuan reference rate at 7.0855, missing the market expectation of 7.1003, but above Thursday's fix at 7.0

Market News

Update To Westpac’s RBNZ OCR Forecast – Enough Is Enough

We now expect the OCR to remain on hold for the foreseeable future (previously we expected two cuts this year). The OCR needs to...

USD/JPY trades in tight range near 106 handle despite US T-bond yield recovery

10-year US Treasury bond yield adds more than 2% on Thursday. Market sentiment improves slightly on upbeat trade data from China. Coming up: Weekly Initial Jobless...

WTI Oil Outlook: Oil May Fall Further on Weakened Sentiment and Formation of Reversal Pattern

WTI oil trades within a choppy consolidation on Friday but remains biased lower following a massive losses on Thursday, when the price fell by...

United Kingdom Consumer Price Index (MoM) came in at 0%, above expectations (-0.1%) in July

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Asian stocks: Doubts over economic growth, monetary policy favor bears

Growing pessimism concerning the economic outlook and the Fed’s next policy moves continues to disappoint Asian share traders despite RBA’s rate cut.

LATEST POSTS

Sterling Strengthening While Yen Selloff Continues

Dollar retreats mildly in Asian session today as overall market sentiments improved some what. Major Asian indices, except China, recovered notably, following DOW’s rally. But...

India Industrial Output came in at 3.4%, above expectations (0.8%) in April

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Euro Slowly Growing

On Monday, October 5th, the major currency pair is gaining in weight and moving at 1.1731. The market is slowly restoring to its balanced state:...

Euro’s Decline Continues as Italy Yields Jump, Dollar and Yen Mixed

Euro’s broad based decline continues today, dragging down the Swiss Franc, and to a lesser extent Sterling too. Italy bench yield jumps sharply on increasing...

CHI50 Stock Index Retreats to Meet Supportive Trendline

China’s 50 stock index (CHI50) is testing the ascending trendline that has been navigating the market since the slump to a one-year low of 11,558....

Sterling Firm as Markets Await BoE, Asian Stocks Up

Asian markets open the week generally higher today, shrugging off the steep selloff in the US on Friday. Australian and New Zealand Dollar firm up...

USD/CHF technical analysis: Multiple resistances stand ready to question latest recovery

Despite latest bounce from a week-long support-line, the USD/CHF is still under pressure to cross multiple immediate resistances.

Wall Street turns around on Tuesday on positives all around

Wall Street rallies on hopes of a trade deal between US and China. Positive earnings give the DJIA a boost, ending up 177 points at...