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USDCAD Approaches YTD Low

USDCAD Approaches YTD Low

USDCAD resumes the downward trend after the pair rejected on Monday at the weekly high at 1.3144 and today gives up 0.23 percent to 1.3073. CAD got a boost as the Canada International Merchandise Trade came in at $0.76B beating forecasts of $-1.5B for May. Exports came in at $53.11B,...

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GBPUSD: Bears in Control Below 1.2613

GBPUSD: Bears in Control Below 1.2613

GBPUSD is trading 0.10 percent lower at 1.2580 after the US initial jobless claims for the week of June 29th came in at 221,000 versus forecasts of 223,000 the prior week revised higher to 229,000 versus 227,000. The 4 week average came at 222.25K versus 221.75K. The Continuing Jobless Claims [...]
European Equities Positive, FTSE MIB in Milan Outperforms

European Equities Positive, FTSE MIB in Milan Outperforms

European equities trading higher today after Christine Lagarde International Monetary Fund managing director elected to be the next head of the European Central Bank (ECB). As of writing the DAX 30 is 0.65 percent higher at 12,611 the CAC 40 in Paris is adding 0.68 percent at 5,614, in London [...]
AUDUSD Breaks Above 0.70 on Record Trade Surplus

AUDUSD Breaks Above 0.70 on Record Trade Surplus

AUDUSD managed to break above the 0.70 resistance getting a boost from record trade surplus to $5.7 billion up from $4.8 billion in April. The figure beat analysts’ consensus of $5.25 billion. Exports outpaced imports as grew by 3.5% while the imports increased only by 1%. The strong trade surplus...

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PMI: European Services and Manufacturing Activity Remains Weak

PMI: European Services and Manufacturing Activity Remains Weak

The German Markit PMI Composite came in line with markets forecasts at 52.6 for June, while German Markit Services PMI came in at 55.8, beating analysts’ expectations of 55.6 for the same month. In France Markit Services PMI came in at 52.9, worst than market consensus of 53.1 for June, [...]
USDJPY Returns to Downtrend Channel

USDJPY Returns to Downtrend Channel

USDJPY is giving up 0.21 percent at 107.66 as risk off mood returns to markets. Earlier today the BOJ policy board member Funo, noted that there is no need to ease policy now and add any stimulus, while Prime Minister Abe, said that he wants the Bank of Japan to [...]
Asian Indices Lower, Hang Seng down 0.32%

Asian Indices Lower, Hang Seng down 0.32%

Asian indices finished lower today as traders digest the results of the much anticipated G20 in Osaka, Japan. The Hang Seng gives up 0.34 percent lower at 28,773, the Shanghai composite slipped 0.90 percent to 3,016 and the Singapore Straits Times index finished 0.32 percent lower at 3,359. ASX 200...

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FX Markets: PMI’s Will Set The Tone

FX Markets: PMI’s Will Set The Tone

Traders will closely watch today the PMI’s composite and services from around Europe.  France June final services, composite PMI will be released at 7:50GMT, the Germany June final services, composite PMI will be out at 7:55GMT and the Eurozone June final services, composite PMI will be published at 8:00GMT. UK [...]
US Indices Turn Red In Choppy Trading

US Indices Turn Red In Choppy Trading

Wall Street indices erased early gains and turn lower with the Dow Jones currently trading -0.07% lower at 26,699. The S&P 500 is little changed at 2,963, while the Nasdaq gives up 0.11% at 8,082 as the initial optimism following the US – China trade truce faded and President Trump [...]