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DXY Index The Buck is struggling to contain losses amidst risk-on flows/positioning at the start of the final full week of August, with sentiment buoyed by last Friday’s better than expected prelim US PMIs and further progress on the COVID-19 vaccine front. On that note, Pfizer and BioNTech hope to have sufficient samples for testing as early as October, and if...

08:19

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Video of USD/CAD moves from last few weeks. Hope you guys can take some value from this. Have an awesome afternoon! :)

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The dollar index oscillates on either side of 93.000 in the aftermath of the FOMC minutes - which pushed back on expectations that further policy action will arrive soon as it indicated that members are not inclined to a forward guidance change and YCC. The release propped up the broader Dollar and index back above the 93.000 mark to a high (yesterday) at 93.059,...

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Overall, a relatively contained European session for the Dollar, with the index consolidating throughout the day within a 92.150-388 band (ahead of the YTD low at 92.124) as participants zeroed in on the FOMC Minutes (Full preview available in the Research Suite), whilst State-side stimulus could involve a “skinny” deal of some USD 500bln, although an agreement is...

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Cable meanders around mid-range after printing a post-CPI high of 1.3267 (low 1.3230) ahead of the Dec 31st 2019 high of 1.3283. The upside target of 1.3250 has been completed and we could be looking for alternative movements around this level. Potentially a minor rest-bite for the pair. Here is the before:

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The USD is on course for a fifth consecutive session of losses, as the DXY breaches 92.50 to the downside to fall to the lowest since mid-2018 (low print today of 92.124); equities have been flirting with ATH, and the incoming economic data might be showing a slowdown in momentum, signalling the need for a lower-for-longer view on US rates. That USD downside, as...

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The USD fell slightly on Monday, with the DXY relinquishing 93.0, shrugging off news of the delay in US/China phase one review talks. However the DXY is taking the limelight at the moment as it prints new bearish candles into a new low. As we are nearing our anticipated target which has been in the pipeline for weeks on EUR/USD, we are set to pump into new...

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The pullback into $1870 last week did not impact the longer-term uptrend in gold, which sees weaker U.S. dollar and lower interest rates as the two driving forces behind the gold price rally as it continues to expand its momentum. Timeframes for long term targets on GOLD can be tricky to plot but once a break-out occurs, the dollars starts dropping off, we...

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US President Trump said the stock market looks like it's going to set new records and that the Nasdaq already did, while he added GDP will be probably the greatest in history and is also encouraged by recent retail sales and unemployment data. Furthermore, President Trump said he will create tax credits for companies that bring jobs back from China and will strip...

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UK PM Johnson spokesman said we still believe a deal with the EU can be reached in September. Just a quick update on this pair, it still remains as bullish as my previous long suggestion. Hopefully by the end of this week we will have reached our upside target with only 75 pips left on the table. That clean break above 1.3100 will send us into a fresh high.

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USD/CAD 1.3150 Next downside target.

05:50

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I breakdown the EUR/USD from M to 4-Hour and show my findings... Have a great week everyone!

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A real Monday summer lull and colourless trade in the currency markets, with the DXY going nowhere fast or far from the 93.000 handle that has been keeping the index and Greenback in general tethered for a while. The US financial deadlock continues and even the fiercely awaited showdown with China to assess progress towards the Phase 1 trade pact was postponed for...

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In UK news PM Johnson said there is a good case for the EU to strike a zero tariff, zero quota deal. UK Chief Brexit Negotiator Frost said that their assessment is an agreement with EU can be reached in September and reiterated that the UK's sovereignty, over our laws, our courts or our fishing waters is not up for discussion. (Twitter) S&P assigned European...

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IEA Monthly Oil Market Report said that 2020 crude oil demand forecast reduced by 140k to 91.9mln BPD which was the first decline for several months, while 2021 crude oil demand forecast revised down by 240k to 97.1mln. Furthermore, it remains unclear if new COVID-19 cases indicate a second wave or regular variation and compensation for earlier OPEC+...

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The Dollar remains depressed following another dead cat bounce and failure to reach 94.000 in index terms with the aid of firm US inflation data, and a retreat in Treasury yields amidst re-flattening across the curve is not helping the Greenback sustain gains as the DXY slips closer to the round number below. Meanwhile, bouts of risk-off trade due to the lack of...

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For the past trading week, I have been mentioning 1.3200 handle within each post. Here is the before: Congrats to anyone who made some money from this! On to the next...

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Finally, we have called a nice 200 pip movement here on EUR/JPY. After studying the technicals and fundamentals over the last week or so, we have been able to pick this move out very well. Congrats to anyone who made any pips! On to the next... Here is the before shot: