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Not much change for the Yen that seemed set to overcome 130.50 against the Euro after scaling the moving averages, but EUR/JPY has been trading sideways for many days alongside Jpy crosses, such as USD/JPY around 108 in what appears to be a technical correction rather than something fundamental, aside from a resumption of US Treasury bear-steepening. Recent spike...

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1.2500 is still proving to be a sticking point for the Loonie vs its US peer, but Usd/Cad has pulled back from circa 1.2535 against the backdrop of firmer crude prices and the Canadian budget that was mixed in terms of 2020/21 and 2021/22 fy deficit forecasts vs prior projections, though pretty neutral on balance, awaiting CPI and the BoC on Wednesday. I have...

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GBP/USD has made steady progress throughout the EU session following a close shave at 1.3810 before Cable bounced firmly through 1.3850, 1.3900 and 1.3950 all the way to around 1.3992/3, while EUR/GBP continues its retracement from 0.8700+ to circa 0.8590. Not much in the way of fresh bullish UK specifics or Pound positives, but this week’s domestic agenda is busy...

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The Dollar index has extended declines across the board as US Treasury yields maintaining a mild bull-flattening bias from prior outlooks, but also on increasingly bearish technical momentum as several Buck/major pairings breach key and psychological levels and the DXY itself breaches 91.500 to probe support around 91.300 within a 91.748-125 band. However, the...

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Prior Analysis: Since the last time I broke down EUR/GBP we managed to move and sustain above the 0.8640 key level. Sterling has pared some losses, but remains under pressure amidst the ongoing dispute between the UK and EU over NI protocol compliance, with some progress made at a meeting between Frost and Sefcovic, but difficult issues still to be resolved...

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EUR/JPY was previously bullish with new high anticipated however the highlighted zone at immediate support is now a real threat for the pair in alignment with dollar sentiment. Overall Yen extended gains with some news out tomorrow. However, the Buck remains softer overall and under pressure vs certain EMs and PMs like GOLD that has scaled a series of chart...

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As mentioned in previous post, somewhat mixed Aussie labour report overnight, as the headline employment change exceeded expectations 2-fold, but was all due to part-time workers given a near 21k fall in the number of full time jobs. Pound looking at ongoing COVID-19 concerns across the Eurozone that have prompted Germany’s Economic Institutes to downgrade their...

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Somewhat mixed Aussie labour report overnight, as the headline employment change exceeded expectations 2-fold, but was all due to part-time workers given a near 21k fall in the number of full time jobs. AUD/USD trying to clear resistance around 0.7750 convincingly, but also facing a formidable hurdle in the form of 1.1 bn option expiries from the half round...

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GBP/USD meanders around its daily moving averages (1.3764) within a current 1.3745-3808 band with the next upside level range height at 1.3860. The daily volume looks to have been squashed and it could provide some clear cut moves on the hourly. I would be watching for another touch of the ascending trendline visible on the hourly but I am awaiting price action to...

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The February UK GDP figures were overlooked as the economy continues to reopen and the vaccination drive remains in gear. The antipodeans see mixed trade with the Aussie somewhat subdued following the sub-par Chinese trade data. If 1.8000 can hold this week for GBP/AUD then there is a possibility of a new high forming in the next coming weeks. I would imagine a...

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EUR/USD remains pinned around the 1.1900 mark (1.1884-1916 range), awaiting further direction/influence, with the softer-than-expected ZEW prompting some modest unstained downticks. However look at the prior swings in correlation to the Fibonacci movements, we should expect some downside action over the next few weeks. Again, a choppy session thus far within a...

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Loonie remained subdued by early crude softness coupled with woes surrounding Canada’s COVID situations. USD/CAD could be looking for overall momentum shifts this week. Expect manipulation... The mild strength experienced in the early part of the European morning failed to hold. The broader Dollar and index reversed course after briefly topping its 200 DMA...

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A somewhat choppy start to the week for the more extensive Dollar and Index, in a relatively contained range with upside conviction as the European entrance saw new sessions highs with the intraday band currently at 92.331-172, ahead of its 18 DMA at 92.389. The weekend saw remarks from Fed Chair Powell, who stuck to his guns with emphasis on the labour market,...

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Pound is also ending the week on a firmer footing, though this masks the whole truth as Cable remains much closer to worst levels between 1.3671-1.3918 parameters and only just held around March 25 lows when yielding to the partial Buck recovery and slipping beneath the 100 DMA (1.3687). In many ways it feels like the markets have been waiting for something to...

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The Aussie is underperforming across the board, with AUD/USD struggling to retain grasp of the 0.7600 handle and AUD/NZD fading below 1.0850 as the Kiwi maintains 0.7000+ status against its US rival ahead of the RNBZ next week. Technically I have highlighted a key range for the pair where a lot of manipulation activity could occurs with an hourly reversal. ...

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Prior chart: Nothing new from Fed chair Powell to augment FOMC minutes or fresh catalyst for a rebound in US Treasury yields amidst relatively mild re-steepening, but enough it seems for the Dollar to regain some composure as the week draws to a close. Indeed, the index has rebounded from Thursday’s 91.995 low to probe above 92.300, with the ripples reaching...

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GBP/AUD has revisited 1.9750 in advance of the RBA’s latest FSR. For the record, ECB minutes were about as uninspiring as the FOMC version on Wednesday evening, though did highlight a degree of contention over pushing the PEPP harder during Q2 and some GC leanings along the lines of Knot who has touted potential QE tapering from the next quarter under baseline...

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The Pound seems to be at the whim of Eur/Gbp moves again, as Cable pivots 1.3750 and derives little impetus from a stronger than expected UK construction PMI, while bulls and bears tussle over the cross within a 0.8657-21 range and as we head higher. A strong daily closure above 0.8650 could lead to a rapid move up to 0.8800 relatively quickly from here.