Sam_Eder

Sam_Eder

GBP is the weakest currency going into month-end. Coupled with strong CAD after the Bank of Canada's hawkish statement yesterday, there is further downside potential if we can get through 1.7100.

Sam_Eder

With Crude Oil stabilizing, Italy's Technocrat Cottarelli extending a hand to MS5 and Lega, US/NKorea meeting today and G7 starting in Whistler, the market has calmed down and risk assets have been bought overnight. There is potential for a breakout through yesterday's high and 7000 again in Nasdaq.

Sam_Eder

Bank of Canada Rates Decision is due in 10 minutes. The Loonie has held it's ground, bouncing the pre-defined support zone. Remain flexible and wait until the market digests the statement before taking any action.

Sam_Eder

According to reports in Italian media, parties across the political spectrum are trying to reach a deal to avoid snap elections. This has calmed markets for the time being, but price action is telling us this is just temporary.

Sam_Eder

Big moves and volatility expansion in Italian BTPs on the recent political turmoil. Bias remains down in the short term AND in the longer term.

Sam_Eder

US Yields continue to support the US Dollar, along with uncertainty aboard (namely in EU). We still have some event risk due on Cad as FinMin Morneau is set to announce what the govt intends to do with the Transcanada pipeline. Main hypothesis (via BBG) is that the govt will buy and build the expansion and sell once it’s complete.

Sam_Eder

Bearish pressure has driven the Euro to our second objective at 1.1550. Prices are now oversold on an intraday basis, and intraday players are potentially scaling out/protecting profits.

Sam_Eder

The bearish sentiment surrounding the Euro, alongside the risk-off tone already present in Asia, have propelled EurJpy through our target. Intraday players will likely be scaling out/protecting profits at current levels. Stops reside above 126.90s.

Sam_Eder

EURNOK is setting up a low volatility breakout on the weekly chart. This may be longer-term carry trading idea, but be sure to check your rollover and spreads because it's an expensive pair to trade and the volatility alone makes it troublesome.

Sam_Eder

Just like our EurUsd Idea, EurJpy may remain under pressure due to the political issues in Europe, alongside the already evident risk-off sentiment seen in Asia trade.

Sam_Eder

A combination of political issues in Italy & Spain could keep the lid on the Euro & it's crosses. Keep in mind yesterday's action was dominated by low-liquidity with UK & US away. Should be interesting.

Sam_Eder

USDCHN has setup a low-volatility breakout, confirming a potential volatility expansion to come. We have closed above the recent range and there is potential for a move towards 6.65. This idea would be violated by a move back below 6.3530s.

Sam_Eder

Our USDCAD call is being proven correct but caution is still warranted given the amount of space covered today and this week already.

Sam_Eder

Yesterday's bullish call is being proven correct with prices pushing through recent highs and aiming for 1.1000.

Sam_Eder

A combination of RBA tone and supportive Chinese data, alongside stabilizing risk-appetite, is keeping AUD buoyant. We like the odds of further AUD appreciation in the coming week, especially vs EURO which may continue to suffer on recent Italian political shenanigans.

Sam_Eder

In line with the recent weakness seen in the Loonie, AudCad has presented a volatility breakout setup which we use within our End of Day signals. Our bias is now long on this pair.

Sam_Eder

With Saudi and Russian ministers talking about easing output curbs in June, Crude oil is softening and CAD along with it. We are pressuring the top of the recent range and there is breakout potential.

Sam_Eder

The Aussie dollar's ability to bounce despite yesterday's risk-off move is encouraging for bulls. Market positioning could be supportive, with IMM data showing largest net AUD/USD short since early February 2016. With commodities rising and a gentile pace of rate hikes from the FED (priced in) Aud may continue to benefit vs. NZD which has seen some fairly...