Two months of consolidation has made things a little dull for the NZD/USD pair and that looked to be coming to an end until a new Covid outbreak brought everything to a halt.
The delta strain has many concerned and New Zealand has taken a tough stance since the start of the pandemic - successfully so - which makes the decision far from surprising.
What may have...
The pound slid following the release of the UK jobs report on Tuesday, despite the headline numbers looking broadly positive for the country.
The UK labour market looks in a very strong position as the furlough scheme continues to be phased out. The data today is very encouraging, from the drop in the headline unemployment rate to the payrolls.
Vacancy numbers...
EURUSD entered into bearish territory a couple of months ago and after a strong run for the dollar, the pair finally found support around 1.17, where it bottomed at the end of March.
The UoM consumer sentiment survey fell to its lowest in a decade on Friday which appeared to encourage further profit taking in the greenback and, while it has pared losses a little...
Bitcoin is having another run at $47,000 at the end of the week.
The pullback was quite shallow and short-lived in the end although it could still face resistance at the previous peak, where we're already seeing momentum slip a little.
A failure to break $47,000 wouldn't be any concern at this stage and could just be indicative of the correction having not run...
Bitcoin is slightly lower on Thursday, having stalled in the middle of the week following strong rallies this month.
The 50 fib level – April highs to June lows – is putting up a bit of a fight as resistance, although I don’t think it will keep the crypto bulls at bay for much longer. This rally has some real momentum and I think we’re just seeing some brief...
Not only did Gold not recover from the NFP blow on Friday, but things got a whole lot worse on Monday.
The yellow metal has since recovered the bulk of the losses sustained during illiquid trade at the start of the week but that may not improve the outlook.
Gold is currently testing that major support - $1,750 - from below and a rebound off this level could be...
The UK100 is closing in on 7,200 and approaching levels not seen since the start of the pandemic.
This isn't the first time the index has eyed up this level in recent months but in the past it has failed to break through in any significant way - it briefly touched 7,217 a couple of months ago before reversing course - and each time a corrective move has...
What a week it's been for the dollar. Since last week's poor ADP we've had strong ISM data, hawkish Fed commentary and, finally, a knockout jobs report.
Suddenly, it feels that a tapering announcement is almost upon us and the data is pointing to good times ahead. What a time to be bullish on the dollar.
Which makes me wonder whether so much is now baked into...
It feels a long time ago since gold was rallying on the back of a poor ADP number and expectations that it may signal a weaker jobs report and nudge the Fed in a dovish direction.
The yellow metal has gone from threatening to break $1,833 - and the 50 fib - to the upside to smashing through $1,790 support in just a couple of days, courtesy of a strong ISM...
The pound is higher on the day after the Bank of England laid out plans for reversing emergency stimulus measures and raising rates. But it hasn't really changed much as far as the charts are concerned.
Price action continues to push against the key fib levels, as well as the 55/89 daily SMA band, but is there any indication that we're about to witness a breakout...
Should we be concerned that the bitcoin has stalled just as it appeared poised to take off?
Bitcoin has pulled back in recent days, with the price falling from around $41,000 to roughly $37,500. The move came just as many were speculating that cryptos are back after their late spring/early summer slump. Should the short-lived rally be a source of concern or...
The pound has reached an interesting level against the dollar, one that could determine whether the pair is back in bullish territory or the end of a correction.
The pair found strong support around the 200/233-day SMA band a couple of weeks ago and has rebounded strongly since. This came after it broke below the 55/89-day SMA band in mid-June, which had been a...
The rally in EURUSD has stalled over the last few sessions but the bounceback may not be quite so short-lived.
After breaking below the 200/233 day SMA band in mid-June, the pair had broken into bearish territory, potentially opening up a much broader move to the downside in the months that followed.
After falling back to 1.1754, a corrective move started and...
The Australian dollar is in positive territory on Monday. In the European session, AUD/USD is trading at 0.7733, up 0.32% on the day.
The week started out on a sour note, as inflation fell in May. The Melbourne Institute (MI) Inflation Gauge, a monthly release, fell 0.2% in May, marking its first decline in seven months.
With major economies showing stronger...
The Swiss franc is up for a second straight day. In North American trade, USD/CHF is trading at 0.9000, up 0.24% on the day.
The Swiss franc has made strong inroads in recent weeks against a US dollar which continues to struggle. The dollar posted sharp gains in the first quarter, but has reversed directions. Since April 1, USD/CHF is down 4.8% and has...
The euro has started the week in positive territory. In the North American session, EUR/USD is trading at 1.2220, up 0.32%.
Monday is a national holiday across much of Europe, and there are no economic releases out of the eurozone. Still, the euro is showing some strength and has punched into 1.22-territory.
German data will be in focus on Tuesday. The...
The Canadian dollar has reversed directions on Thursday and posted gains. In the North American session, USD/CAD is trading at 1.2076, down 0.46% on the day.
On the fundamental front, the Canada ADP employment report for April posted a sharp gain of 351.3 thousand, after a sizzling read of 634.8 thousand in March. The week wraps up with Canada retail sales in...
The Australian dollar has reversed directions on Wednesday and recorded considerable losses. In the European session, AUD/USD is trading at 0.7750, down 0.52% on the day.
Investors gave the Aussie a thumbs down on Wednesday after Westpac Consumer Sentiment fell 4.8% in May. The trend of improving consumer confidence over the past three months was broken. Still, a...
