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US Macro Data Disappoints, USD Back Lower

US Macro Data Disappoints, USD Back Lower

A bunch of macro data from USA came in worst than expected and puts fresh pressure to US dollar. The New Home Sales Change (Month on Month) came in -7.8% lower at 0.626M below economist’s forecasts of 1.9% and 0.68M for May.  The United States Richmond Fed Manufacturing Index came [...]

Gold Prices Might Form Next Bull Leg From $1405

Gold prices continue their ascent, and I suspect the trend will remain bullish as long as the price trades above $1376. Already in early 2018, I mentioned the possibility of a strong bullish trend in gold prices on a break to the 2016 highs of $1375. However, with the Federal [...]
FTSE100 Trades Lower in Quiet Session

FTSE100 Trades Lower in Quiet Session

European equities trading lower midday as investors selling risky assets after the US imposed a new round of sanctions on Iran. As of writing the DAX gives up 0.10 percent at 12,261, CAC40 is 0.17 percent lower at 5,512, the FTSE100 in London is down 28 percent at 7,395 as [...]

NZDUSD Could Trigger Stops Ahead of RBNZ Meeting

The NZDUSD has been surging in the last few days, but it has nothing to do with people buying the NZD, instead, it had to do with people selling the USD. What level's should you watch ahead of Wednesday's RBNZ meeting?

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Bearish Channel Drives USDJPY Lower

Bearish Channel Drives USDJPY Lower

USDJPY started the Asian session higher but as we progress into the European session the pair faces selling pressure down to 107.02 as traders will closely follow the discussions in G20 meeting later this week for developments in China – USA trade war tensions.  The USD weakness will continue to [...]
Nikkei Trades Lower as Risk Return to Markets

Nikkei Trades Lower as Risk Return to Markets

The Japanese Nikkei 225 benchmark trades lower today at 21,176 amid geopolitical concerns and as traders await the G20 Summit in Osaka, Japan. President Trump and Chinese President Xi Jinping will meet on Saturday in the first meeting since trade talks stopped in May. US equities also finished lower yesterday [...]
USDCAD: Bearish Momentum Persists

USDCAD: Bearish Momentum Persists

USDCAD trades flat today at 1.3191 as traders continue to dump the US dollar after the dovish minutes from FED last Wednesday.  The Canada’s Loonie got an extra boost from WTI crude oil rally above $57 per barrel as the geopolitical tensions increase. USDCAD traders will closely follow the discussions [...]
Forex Markets: Fed’s Powell Will Drive Markets Today

Forex Markets: Fed’s Powell Will Drive Markets Today

In our calendar today GBPUSD traders will focus in June CBI survey data in the UK while from Eurozone we have the June confidence indicators in France. In the Americas trading session we await the US CB Consumer Confidence figures to be released, June Richmond Fed survey and New Homes [...]
Gold: Bulls Looking for a Break Above 1,411

Gold: Bulls Looking for a Break Above 1,411

Gold holds the gains from the recent rally above 1,400. USD weakness and an escalation in USA – Iran tensions around the Hormuz Straits boosts gold prices. Short covering on Friday also helped gold to reach 1,411 a level that we haven’t seen since 2013. FED dovish minutes opened the [...]
GBP is the Only Underperformer vs USD

GBP is the Only Underperformer vs USD

GBPUSD is the only under-performer today as it trades 0.05 percent lower at 1.2738 amid Tory leadership controversy during the weekend and despite USD weakness. Pound got a boost the previous week after FED left interest rates unchanged as widely expected by markets and changed its language to more dovish [...]