Euro sellers have struggled to maintain downward momentum since the single currency found support below the 1.06 figure against the US Dollar two weeks ago. Still, overall positioning continues to favor continuation of the long term down trend. From here, a daily close below support in the 1.0518-28 area (November 24 low, 23.6% Fibonacci expansion) exposes the 1.0341-67 zone (December 15 low, 38.2% level). Alternatively, a turn above support-turned-resistance ...
The Bank of Canada seemed to provide fuel for USD/CAD bulls with the statement that core inflation measures “continue to point to material excess capacity in the economy.” The statement combined with USD strength to stretch the 2-year differentials to their widest in 3-months. Betting against a pair that is showing the steepest yield differential in a quarter is a bet against momentum, which can be painful when wrong. Sticking to the tenet ...
The United States Department of Commerce has reportedly agreed to extend ZTE's temporary export license to March 29, 2017, allowing American companies to continue to provide software, technologies, and restrictive components published in March 2016 to ZTE. Prior to this, the Chinese telecom device manufacturer received an export restriction from the American government and its export license was due for expiration on February 27, 2017. ...
How I Trade the Ichimoku Cloud
Australia posted a seasonally adjusted merchandise trade surplus of A$1.302 billion in January, the Australian Bureau of Statistics said on Thursday. more...
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