The upside for EURUSD stalled, and reversed, on Thursday marginally short of this week's top. Net losses were posted for a second day in a row. The decline was modest though. Based at the same levels as the two previous days, EURUSD remains above its 200 day moving average and near the top of the…
Read moreThis week has provided a mixed data set for AUD, which has seen AUD remain under pressure yet struggle to break too far below the 75c mark. Private sector credit expanded by 0.3% MoM which is the lower boundary of the longer-term trend (0.3% is -1 standard deviation from the entire data set, to exhibit…
Read moreDespite Silver's extended losses Gold defiantly remains above $1260 support, making it a critical level to monitor for clues of its next move. [embedded content] Matt Simpson | Senior Market Analyst A certified technical analyst, combining macro themes, monetary policy and business cycles to generate Forex and commodity trade ideas.
Read moreIt has been a big data week for Japan, with today finishing off with an array of inflation, consumer and industry reads. Household spending contracted by -2% MoM to break a 2-month expansion and print its worst month since last August. The annual rate has contracted a further -1.3%, making it the 14th month in…
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Yesterday's bullish call, as published on these pages, was modestly successful in dull trading. A late spike higher yielded our first daily and weekly objective, although this was still short of Monday's Asian high and it was not maintained. Overall there was only minor movement in Cable and so signals for sentiment going into Thursday…
Read moreThe biggest take from the outlook report and policy statement is there is unlikely to be a need for tightening any time soon. Nikkei appears set to retest the highs yet price action on USDJPY suggests it may be a fruitless attempt. BoJ provided a more upbeat view of the economy from prior meeting Policy…
Read moreThe long-term bullish wedge is playing out nicely and, even if it fails to reach the target in the year/s ahead, we remain confident the near to medium-term should provide bullish opportunities. The French elections, where a vote for populism didn’t dominate, provided the catalyst to send EURNZD hurtling higher. We had highlighted the bullish…
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The outcome of the first-round voting of the French presidential election pushed EUR/USD up, touching the highest level of 1.0950 on April 26 since November 10. EUR/USD has been consolidating since April 24, flirting with the significant psychological level at 1.0900. Today, the European Central Bank (ECB) announce its benchmark rate, marginal lending rate and…
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BackgroundThe small caps are lagging in performance (5% year-to-date vs. 6.25% on the S&P500) behind their multinational brethren but don't discount them yet. Smaller companies with capitalization of $2-10 billion, are often considered as the growth engine in the US economy as they are fairly young with great growth potential. A potential corporate tax cut from…
Read moreThe European Central Bank's job is to keep the Eurozone intact, promote growth and reduce unemployment. Higher unemployment and lower GDP growth rates are the ideal foundations for the spread of populism, which started with Brexit last year before spilling over into the US and now we have this same disease over in France. Although Macron is highly likely to win…
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