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Can UK Data Drive The Pound Higher?
The UK is set to deliver a trove of economic data over the coming days, including key figures such as GDP and jobs numbers.
USDCAD Minute Impulse Tests Previous Highs
In the global perspective, USDCAD could build a triple zigzag w-x-y-x-z.
Intraday Analysis – CAD Probes Key Resistance
The Canadian dollar rallied after May’s unemployment rate came out lower than expected. The major floor of 1.3310 from the daily chart has attracted some bargain hunters but may not be enough to turn the cautious mood around.
The BOC Really Shocked Markets Back On Wednesday When It Hiked Rates By 25bps. Pretty Much Everyone Was Expecting It To Be A Non-Event.
The BOC really shocked markets back on Wednesday when it hiked rates by 25bps. Pretty much everyone was expecting it to be a non-event.
SPX500 Bulls Push For The Previous High
The SPX500 index continues to form a large impulse trend consisting of sub-waves I-II-III-IV–V.
Intraday Analysis – CAD Recoups Losses
The Canadian dollar soared as the BoC resumed its tightening campaign with another 25-basis point rate hike.
XAGUSD Triple Zigzag Pushes Towards $30
In the long term, XAGUSD is forming a corrective trend consisting of cycle waves w-x-y-x-z.
Intraday Analysis – EUR Struggles For Support
The Euro struggled after retail sales across the bloc remained flat in April. EURUSD has given up most of the gains from its mid-Mach rally and is heading toward the daily support of 1.0540.
Global Trade Balances In The Slowing Economy
Yesterday’s disappointing US ISM Services survey left markets worried about growth, playing into the main theme of the week.
BABA Triple Zigzag Opens New Lows
In the long term, Alibaba is forming a bearish trend or rather a triple cycle zigzag.
Intraday Analysis – GBP Attempts To Bounce
The US dollar retreated after May’s services PMI came in short of expectations. GBPUSD came under pressure at a 12-month high of 1.2670.
The Next Worry After The US Debt Ceiling Deal
With the debt deal all but confirmed, the next question is how the debt issuance could affect the currency market.
DXY Triple Zigzag Falls Below $100!
In the long term, the dollar index forms a triple zigzag pattern consisting of primary sub-waves Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ.
Intraday Analysis – USD Pulls Lower
The US dollar slips as rising claims for unemployment benefits suggest a looser job market.
Intraday Analysis – USD Consolidates Gains, June 1, 2023
The US dollar stays firm on bets of more interest rate hikes to come amid repeatedly hawkish Fed remarks.
How Low Can WTI Crude Go?
WTI crude prices once again broke below the $70/bbl mark. This time, it closed below that level for the first time in nearly a month.
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