USDCAD has been rallying this week, gaining 1.7% since Tuesday and testing the five-month high of 1.3850. The pair looks vulnerable to both a short-term correction and the potential for a longer-term reversal. The US Dollar has enjoyed gains after Powell’s hawkish rhetoric forced the markets to consider a 50-point rate hike on 22 March […]
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Dollar Index broke through an important support overnight as recent decline accelerated, and hit the lowest level in three years. The selloff reflects a deepening flight out of US assets, as confidence continues to erode. Read more…
New Zealand recorded stronger-than-expected trade surplus of NZD 970m in March, far exceeding forecasts of NZD 80m. The surprise was driven by a robust 19% yoy increase in goods exports, which rose by NZD 1.2B Read more…
Key Highlights USD/CHF declined heavily below the 0.8380 and 0.8250 levels. A major bearish trend line is forming with resistance at 0.8150 on the 4-hour chart. EUR/USD rallied above the 1.0450 and 1.0500 resistance levels. Read more…