USDCAD slumped towards the 200-day simple moving average (SMA) at 1.2495 after its bullish efforts to cross above the 50-day SMA and enter the 1.2700 territory collapsed, with the pair set to close 1.40% lower Read more…
GBPUSD has staged a spectacular uptrend movement from late December amid strengthening positive momentum. Moreover, the pair’s successive higher highs together with the recent golden cross, where the 50-period simple moving average (SMA) has crossed Read more…
The British pound has posted very slight gains on Friday. In the European session, GBP/USD is trading at 1.3720, up 0.09% on the day. The pound is yawning despite better than expected UK data today. Read more…
EUR/USD During yesterday’s trading session, the U.S. blue-chip index breached the support level of 36237 and the forecast is for the index to test the important support at 35899. A possible breach of this level Read more…
Silver extends its recovery on the back of a weak US dollar. The metal saw support at the psychological level of 22.00. A break above the resistance at 22.80 and then an acceleration to the Read more…
The euro rose after ECB Vice President Luis de Guindos said the inflation spike may last longer than projected. Nonetheless, the bearish sentiment still prevails after the pair failed to hold on to 0.8370. The Read more…
The Nasdaq 100 faltered after an unexpected rise in US initial jobless claims. The tech index bounced off the demand zone around 15200 which used to be a resistance on the daily chart. A bullish Read more…
UK GDP rose strongly by 0.9% mom in November, well above expectation 0.4% mom. Looking at some details, services grew 0.7%, production rose 1.0% mom, and production increased 3.5% mom. Monthly GDP was back above Read more…
Markets US equities suffered a violent sell-off yesterday. Investors especially targeted the Nasdaq (-2.51%). The tech-heavy stock index is sensitive to (expectations of) higher rates. This is probably what drove Thursday’s move. In her Fed Read more…
US stocks wavered on Thursday ahead of the earnings season that kicks off today. The Dow Jones rose by over 100 points while the tech-heavy Nasdaq 100 index declined by about 80 points. The key Read more…