Technical Analysis

GBP/USD sets its sight on the 1.35 handle For bank trade ideas, check out eFX Plus Cable encountered a bit of a setback in early trading yesterday but recovered well as the dollar faltered in US trading, helping to see the pound claw back earlier losses in a push above the 1.3400 level currently. If

GBP/USD sets its sight on the 1.35 handle For bank trade ideas, check out eFX Plus Cable encountered a bit of a setback in early trading yesterday but recovered well as the dollar faltered in US trading, helping to see the pound claw back earlier losses in a push above the 1.3400 level currently. If

Silver outpaces gold The silver bugs are proving to be resilient. Gold is consolidating but silver may be in the midst of another breakout. The rally today may have punched a path higher from the bull flag pattern on the chart. Despite the technical break at the moment, I’m skeptical of precious metals in the

GBP/USD eases to a session low of 1.3301 For bank trade ideas, check out eFX Plus It may be a UK holiday but the pound is among the more notable movers in the major currencies space today, with cable easing towards 1.3300 in European morning trade. The pound is looking weaker to start the day,

USD/JPY down by 1% on the day in a drop to 105.50 currently For bank trade ideas, check out eFX Plus The drop to 105.50 now breaches the low seen in the whipsaw following Powell’s speech yesterday, which was at 105.61. Abe’s press conference earlier was rather bland, offering little hints about his successor but

Gold up $37 to $1966 Gold is back in the saddle today and on track to close at the best levels since Aug 18. It’s all about the dollar today as it trades off of that and Treasury yields. At the same time, you get the sense this is a market that’s really searching for

Cable breaks out Cable edged above the August range yesterday but has redoubled the effort today in a nearly 150 pip surge. The rally broke above the monthly high and the January high, which means the pair is now in the green year-to-date. It’s been an impressive turnaround and even moreso given that the BOE’s

Fits and starts USD/CAD earlier today looked like it was finally making a definitive break of the late-August rally but a few hours later, it’s 75 pips from the lows and unchanged on the day. The loonie has been a tough trade in the pandemic and that continues to be the case. For those looking

Continuation of the trend One of the major divergences in markets in the past two months has been the lack of enthusiasm in emerging market currencies. Most — if not all — are way below pre-pandemic levels. Among the laggards are the LatAm currencies, including BRL, MXN and COP. All three are near the top

EUR/USD hits a session high of 1.1898 For bank trade ideas, check out eFX Plus The dollar is under some modest pressure to start European trading as we see major currencies extend gains against the greenback as the market continues to digest Fed chair Powell’s speech from yesterday. EUR/USD broke above its 200-hour MA (blue

What’s the signal There’s a dovish take in the equity and Treasury market today in the aftermath of the Fed. Rates led the way higher and stocks are finishing with yet-another gain despite a volatile day. Here are BMO rates strategists on the new Fed paradigm: Our takeaway was relatively straightforward; the Fed’s new stance

Dow within 1% of unchanged on the year the S&P and NASDAQ index are closing at record levels once again with strong gains of over 1%. The NASDAQ outperformed with a 1.73% rise. The Dow industrial average was down earlier today but pushed to the upside and is closing within 1% of the closing level

Up $0.04 or 0.09% The price of crude oil futures settle that $43.39. That was good enough for a 4% gain or 0.09% rise. The high price for the day reached $43.78 while the low price extended to $43. Technically, the price close above its 200 day moving average for the 2nd consecutive day. That

S&P index and NASDAQ go out near highs as well The S&P and NASDAQ index are closing at record highs once again. The broader indexes also traded to new all time high prices today.  The Dow industrial average close lower her by Apple and Boeing. The final numbers are showing: S&P index rose 12.37 points or 0.36%

Looks toward the all time intraday high from yesterday at 11462.05 The NASDAQindex has climbed to a new session high, taking out the high price from earlier this morning at 11435.68. The high price just reached 11437.77. The next target comes in against the intraday high price from yesterday at 11462.05. That was also the

USD/JPY advances as the risk tone keeps more positive For bank trade ideas, check out eFX Plus The pair now climbs to a session high of 106.20, moving close to a minor near-term resistance from the 20 August high @ 106.22. Of note, buyers have now managed to move back above the 200-hour MA (blue

Traders look toward the day’s low at 1.1784 The price of the EURUSD continues to drift to the downside. The pair has traded to NY session low at 1.17868 which is just above the Asian session low at 1.1784.  A couple more pips until the lap higher and lower is complete. The 1.1781 level was

The JPY is the strongest and the EUR is the weakest. London/European traders have just left the buidling for the weekend.   As they exit, which currencies have done well this week and which not so well?   The strongest of the majors is the JPY.  It rose the most vs the EUR (+1.28%) and the least