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Eno is a certified financial technician and member of the UK Society of Technical Analysts. He loves to trade and write about stocks, Forex, and CFDs. Since 2009, he has consulted several financial companies as a trader and strategy developer. His work can be seen on several forex blogs and trading educational websites.
Kudlow: White House Adviser Thinks Fed Will Cut Rates
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US Inflation Figures Meet Expectations, But Watch These USDJPY Levels
US Core CPI came in at 0.3% m/m, and headline CPI m/m came in at 0.1%. If the data had surprised to the upside by a deviation of at least 0.2%, then it would have likely provided some relief for the US dollar, and it could recover some of yesterday’s [...]
Crude Oil Prices in a Choppy Pattern Following Unexpected Drop in Crude Inventories
The crude oil inventory report published by the U.S. Energy Information Administration for Wednesday July 10, 2019 has shown an unexpected drop in commercial inventories in the U.S for the week ended July 5, 2019. According to the report, commercial crude oil inventories in the United States dropped by 9.5 [...]
Gold Soars as US Fed Powell Indicates Willingness to Cut Rates
The US Dollar is down on the initial statements by US Fed Reserve Chairman Powell. The markets have been expecting Powell to announce intentions of the Federal Reserve to perform a 25bp “insurance rate cut” on July 31st when the FOMC meets to decide monetary policy, and this was confirmed [...]
Boeing Suffers Another Setback as Airplane Deliveries Fall
Boeing has reported that it delivered only 239 planes so far this year, which is a 37% drop compared the same period in 2018. Deliveries of its controversial Boeing 737 MAX fell by more than half. The news is coming days after Saudi Arabian airline Flyadeal walked away from a [...]
CAD: Canadian Dollar in Focus as Markets Turn Attention to BOC Rate Decision
The Bank of Canada (BoC) is expected to leave the interest rate unchanged at 1.75% later today, according to 22 out of 23 analysts that were polled by Bloomberg. Greater focus will therefore be on the statements by BoC Chief Stephen Poloz. The Canadian Dollar has been on a stellar [...]
EUR/USD Eyes FOMC Minutes and Fed Powell’s Senate Testimony
The EUR/USD is in focus as Fed Chairman Powell is expected to testify in front of the US Congress tomorrow at 10 am EST. The June 2019 minutes of the Federal Open Market Committee (FOMC) will also be released the same day at 2 pm EST. These events are likely [...]
Silver Prices: Break to This Level Could Resume Downtrend
Silver continues to trade sideways for the day in its pairing with the US Dollar. A look at the XAG/USD pairing will show that within the context of the daily pivot points, the intraday range has been between $14.943 to the downside (which is where the S1 pivot point is [...]
GBPJPY Close to a Breakdown of a Bearish Flag Pattern
Fears that the UK would be forced to leave the EU in a no-deal situation resurfaced on Tuesday, and has sent the British Pound into a London session selloff that looks set to continue for the rest of the day. The hourly and 4-hour charts for the GBPJPY show the [...]