Markets are generally mixed today, with the main action having been in Sterling and Oil. Cable soared on the back of news that a Brexit agreement, including the Irish Border issue, will be ready soon, while WTI fell by another 8%, to the lowest level in 11 months, due to ongoing worries about weakening global demand, oversupply and… Read More »
The markets look rather mixed on Wednesday, although the Euro does look as though it is capable of a test of 1.1300+ against the US$. In the longer term though the charts look heavy and so a sell-the -rally theme seems to be the game-plan. The other currency that looks OK is the Kiwi which seems relatively underpinned… Read More »
The US$ is firmer again today, after breaking through 1.1300 against the Euro in early European trade, to reach levels last seen in June 2017. Also leading the charge lower for the EU majors has been Sterling, which again fell hard because of new Brexit woes, as hopes of a November Brexit deal continue to fade. The commodity… Read More »
There is a lot of red on the heat map today and trading the US$ from the long side and stocks from the short side seems to be the general plan. In particular selling EurUsd into rallies with a SL placed just above 1.1300 seems to be an idea. I also think that the Aud and Kiwi are… Read More »
The US$ did remain firm on Friday, as expected, and it looks as though that could remain the case in the coming session although being a partial US holiday (Veterans Day) it is likely to be a quiet session. Looking to sell any of the majors against the US$, with the possible exception to the JPY which looks… Read More »
The US$ was generally firmer on Friday following the release of the stronger than expected PPI figure, reaffirming the Fed’s stated monetary tightening stance and setting up conditions for a fourth interest rate hike this year, in December – and then another 3-4 next year. Headline PPI rose 0.6% mm, 2.9% yy in October, above expectation of 0.2%… Read More »
The US$ is firmer following the FOMC Meeting and the short term charts hint that this may continue into the weekend so buying on dips against any of the majors seems to be the plan. On the crosses, things look rather mixed but after a strong run higher, both AudJpy and NzdJpy seem to be topping out so… Read More »
The US$ has picked up a bit of ground following the release of the FOMC Statement in which there were no surprises. Rates remained on hold and the Fed expects to hike in December, with further steady interest rate increases through 2019. The Euro is leading the way down and another test of the 1.1300 double bottom appears… Read More »
It has been a full risk on session following the US elections and stocks, in particular, look as though they have further gains ahead of them in the days ahead. The Yen remains under pressure as a funding currency, and although rather rangebound against the US$, it does look as though the Yen crosses have further upside potential,… Read More »
The US mid-term election results have seen the US$ remain under some pressure heading into Thursday trade, while stocks are up by 1.7% (S+P) to 2.3% (Nasdaq). Stocks have been assisted through the day as US yields slipped, although they have since recovered to sit slightly below the previous session’s close (US10Y; 3.211%, 30Y; 3.419%). Back in the… Read More »