USDCAD Forecast May 12, 2017, Technical Analysis
The USDCAD pair had a very rough session on Thursday, initially surging much higher, then pulling back drastically, only to bounce again to the highs, and then pulling back to show weakness yet again.
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EURUSD Countertrend Setup Apr 26, 2017
EURUSD is moving inside an ascending channel on its 4-hour chart and is currently approaching the resistance at 1.0950 to 1.1000. If this area keeps gains in check, the pair could head back to support at the 1.0700 major psychological level or at least until the mid-channel area of interest.
EURUSD Range Support July 18, 2016
EURUSD has been trading inside a range, moving between support at 1.1035 and resistance at 1.1150. Price is currently testing support at the bottom of the range and seems ready for a bounce back to the top.
China Manufacturing Activity Contracts Hits 3-Year Low
China’s manufacturing activity contracted for the sixth straight month in January, signalling persistent weakness, official data showed on Monday.
China Unveils Economic Blueprint For 2016
China’s top leadership, which is preparing to launch the 13th Five-Year Plan (2016-20), on Monday announced an overarching strategy to lead the economy’s ongoing transition.
The Good – The Bad and The Bond Vigilantes
I am not sure who coined the phrase Bond Vigilante, maybe it was Ed Yardeni, but the thought evokes the sound of a hundreds of horses galloping, the thunder of their hooves as they approach. At first, it’s just a faint sound something to make your head lift up.
Currency Futures Roundup Ahead of NFP
As the currency markets pause ahead of the monthly Non Farm Payroll release due later, I thought it would be a good time to revisit the weekly futures charts for some of the major currency pairs, and to step back a little, following a week of significant news items around the world. This helps to contextualize the NFP data, which whilst important, is simply another release in the economic calendar.
New home sales weak on sluggish pace
New home sales in Shanghai remained below the 200,000-square-meter threshold for the seventh consecutive week in a local market still beset by sluggish momentum.
Bank of England Announced interest rates to Remain on hold
Bank of England (BOE) left key interest rates at 0.5% along with no additional changes in its asset purchasing program of at £375 billion or $636 billion USD.
China’s manufacturing still weakening
China’s (FXI, quote) manufacturing activity continued to contract in April, but at a slower pace, according to HSBC’s preliminary purchasing managers’ index (PMI) released on Wednesday.