Currency

A zone around 70c provides a pivotal zone for Aussie traders after the RBA cut rates by 25 bps today. The longer-term trend remains bearish, as seen by the 50 and 200-day eMA’s pointing lower. Yet we’ve seen a counter-trend rally back to the 50-day average where it’s found a cluster of resistance around 70c, […]

STATEMENT SUMMARY: RBA lowered the cash rate by 25 basis points to 1.25% Downside risks stemming from the trade disputes have increased Outlook for GDP and CPI remain unchanged Strong employment growth has led to pick-up in private sector wage growth (yet remain low overall) Lower than expected CPI suggests subdued inflationary pressures across the […]

Trump’s trade war on two fronts saw equity markets and indices move broadly lower on Friday and safe-haven demand rise. By the close, US treasuries were yielding just 2.1% (lowest since September 2017) and DJI fell further way from its neckline after breaking out of a head and shoulders pattern earlier in the week. Demand […]

Despite expectation of an RBA cut tomorrow, AUD/USD has broken to a 3-week high thanks to a weaker US dollar. We expected RBA to cut in May. Yet, instead they held off due to the federal election and bears were squeezed at the lows. However, expectations to ease tomorrow remain high with last month’s employment […]

The weekly COT report: As of Tuesday 28th May: Large speculators increased net-long exposure to USD by just $0.48 billion to $31.3 billion ($35.7 billion against G10 currencies) Traders were net-short NZD futures at their most bearish level since December 2018 Net-short exposure on GBP was its most bearish since March, although we’ve seen a […]

LTC/USD Long-term Trend: Bullish   • Resistance Levels: $105, $110, $115 • Support levels: $100, $90, $80   The LTC/USD pair is in the bullish trend zone. On April 3, the LTC market had been trading below the $100 resistance level before it was broken. During the month of April, the LTC market fell to […]

The short-term outlook is in a bearish trend while the medium-term outlook is in a range-bound market. A breakout or a breakdown may occur, hence patience must be exercised trading the consolidation. XLM/USD Medium-term Trend: Ranging Supply zone: $0.2000, $0.2500, $0.3000 Demand zone: $0.0800, $0.0600, $0.0400 XLM remains in a range-bound market in its medium-term […]

The BOC meeting wasn’t quite enough to see USD/CAD hold above April’s high but, with US GDP on tap, there’s potential for some volatility at the highs depending on where the data lands. Today’s GDP is a revised figure which doesn’t typically deviate too far from the original. Yet it may warrant closer attention this […]

Risk-off has taken centre stage again this week, yet the U-turn reversal on yields suggests a corrective bounce could be due and provide a sympathy bounce for markets. By yesterday’s low, the US10Y had fallen to its lowest level since September 2017 whilst global equity markets fell in tandem and demand for safe-haven assets were […]

Peer-to-peer (P2P) networking is based on the principle of all participants being equal and it is on the basis of their digital crypto exchange, that Bitcoin in South Korea has soared to such great heights. These new levels were revealed on the charts of Coin Dance, a similar platform that provides statistics on Bitcoin and […]