Foreign Exchange

Cable Appears Unstable Below Resistance Cluster

13 Jun 2019 @ 09:30
GBP/USD is struggling to breach a strong resistance cluster. Given its bearish trend, we’re keeping a close eye out for a break lower. A retracement from the June low has stalled at a resistance zone The resistance zone between 1.2750 – 1.2773 comprises of the February low, a recent swing high and a 78.6% Fibonacci […]

Asia FX Handover: AUD/JPY Falls On Risk Aversion And Data Miss

13 Jun 2019 @ 09:24
AUD/JPY Falls On Risk Aversion And Data Miss Trump has opted to keep the $325 billion tariff on Chinese goods ‘open’, ahead of the G20 meeting, and says he expects to meet Xi this month. It’s also been reported Trump is to meet President Abe ahead of the G20 meeting. Trade tensions weighed on markets […]

AU Unemployment Miss Data Drives The Aussie Lower | AUD/JPY, AUD/USD

13 Jun 2019 @ 09:21
AU Unemployment Miss Data Drives The Aussie Lower Unemployment may have remained steady, but it’s not on track for RBA’s target, which is seeing a rise in calls for RBA to cut in July. Today was really all about the unemployment rate, which remained steady at 5.2% but missed expectations to fall to 5.1%. Were […]

Bears Circle GBP/JPY For Another Shot At The Lows

12 Jun 2019 @ 09:18
With the recent bouts of risk-off sentiment along with political woes and Brexit concerns for the UK, it’s no major surprise to see GBP/JPY under such heavy selling pressure. And, as noted in Monday’s COT report, the British pound has seen a pickup of short bets and closure of longs, whilst traders are now the […]

AU Employment In Full Focus For AUD Traders Tomorrow

12 Jun 2019 @ 09:15
Tomorrow’s employment set could prove to be a volatile affair for Australian markets, as it could be seen as a proxy for how soon or how many times RBA are to cut in this cycle, depending on the unemployment rate. RBA cut rates to a historical low at their June meeting and, whilst the statement […]

NZD/CAD Could Be Gearing Up For 300-Pip Slide

11 Jun 2019 @ 08:55
Near the end of April we flagged that NZD/CAD could be on the verge of a major breakdown. Recent price action remains constructive of that view. Unsurprisingly, commodity currencies have felt the heat throughout the trade war. However, other factors have been at play to weigh on AUD, CAD and NZD with varying degrees such as […]

USD/CAD Breaks Key Trendline Amid Its Worst Week Of The Year

10 Jun 2019 @ 09:13
USD/CAD suffered its most bearish week of the year by Friday’s close, following weaker than expected earnings data within May’s NFP report. Prices appear stretched on the daily chart, so we’re hoping prices can retrace and consolidate below a resistance level before seeking a short setup. We’re targeting the February lows, which is also near […]

Weekly COT Report: Gold’s Net-Long Exposure Hits A 14-Month High

10 Jun 2019 @ 09:11
Weekly COT Report: As of Tuesday 4th June: Large speculators were net-long USD by $30.9 billion, -$0.36 billion from the prior week ($34.7 billion against G10 currencies JPY net-short exposure fell to a 3-month low Traders are their most bearish on GBP since mid-January GBP and JPY saw the largest volume change of -15.8k and […]

US-Mexico Immigration Agreement Boosts Sentiment At The open | MXN, SPX

10 Jun 2019 @ 09:06
Sentiment was given a boost at the open with Trump’s announcement that US and Mexico have reached an agreement on immigration, providing another tailwind for equity markets. Over the weekend headlines poured in that US and Mexico had reached a deal with curb migration, allowing Mexico to avoid the 5% tariffs threatened by Trump. Still, […]

USD/JPY Drifts To Resistance Ahead Of NFP

07 Jun 2019 @ 09:19
With headlines surrounding tariffs and Fed cuts subsiding, it allows NFP to have its monthly spotlight back. As for the dollar, earnings could prove to be the difference between bullish or bearish. As Matt Weller outlined in his NFP Preview, the Fed will be keeping a close eye on the wage component of the report […]
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