Shift In USD/CAD Behavior To Gather Pace On Hawkish BoC Rhetoric
Trading the News: Bank of Canada (BoC) Interest Rate Decision The Bank of Canada (BoC) interest rate may yield a limited reaction as the central bank is expected to keep the benchmark interest rate a 0.75%, but the accompanying policy statement may heighten the appeal of the Canadian dollar should Governor Stephen Poloz and Co. show a greater […]
Wake Me Up When September Ends
(apologies to Green Day) Another record storm is headed for the US mainland; North Korea appears to be preparing for another missile launch, the looming US debt ceiling constraint saw 4-week T-bills yield rise to 1.3% at yesterday’s auction even as the 10-year yield plumbed to depths not seen since last November. In addition to the already busy schedule […]
Orange Juice Skyrockets, Cotton Surges As Irma Threatens Crops
Well, now that Hurricane Irma has become a Category 5 storm and remains on track to make landfall in the U.S. later this week, folks are getting worried about the impact it could have on crops. And nowhere is that more apparent than in frozen orange juice futures, which are soaring, up nearly 8% for the biggest […]
Gold Prices Near 1-Year High
Gold prices rose $5.28 on Tuesday to settle at their highest levels in nearly a year as the weakness in the dollar and equities markets whetted investors’ appetite for the relative safety of the precious metal. Dovish comments from Fed officials, which bolstered views that the central bank could hold off hold off on rate […]
Bitcoin: Now Accepted As Down Payment For UK Houses
A UK co-living company has announced that it will begin accepting down payments made in bitcoin, according to CoinTelegraph, making it that much easier for traders hooked on effortless, outstanding returns to speculate in another bubble-prone market: UK housing. Co-living pioneer The Collective announced the decision on Tuesday, saying it’s the first developer that will accept payments in […]
Sensex Trades On A Weak Note; Pharma Stocks Lead Losses
After opening the day lower, share markets in India traded weak throughout the day and are currently trading in the red. Sectoral indices are trading on a mixed note with stocks in the consumer durables sector and stocks in the metal sector trading in green, while stocks in the FMCG sector and stocks in the pharma sector are leading the losses. The BSE Sensex is trading down […]
EURUSD: Moving Within The 1st Of September’s Range
Previous: On Tuesday the 5th of September, trading on the euro/dollar pair closed slightly up. After falling to 1.1868, the euro recovered to 1.1941. This growth was brought about by a general weakening of the dollar after the publication of weak data on factory orders in the US in July. The index for factory orders in […]
Bitcoin Beclamed After The Chinese Storm
Bitcoin (BTC), Ethereum (ETH) Pull Back from Monday’s Lows After heavy losses were seen across the crypto-currency market place on Monday, buying interest nudged the market as a whole back into positive territory, but gains are marginal and confidence remains low. The sell-off, prompted by China’s ban on new ICOs and the inspection of 60 ICO […]
AUDUSD Daily Analysis – Wednesday, Sept. 6
AUDUSD’s upside movement from 0.7807 extended to as high as 0.8028. As long as the price is in the bullish channel on the 4-hour chart, the upside movement could be expected to continue and next target would be at 0.8050 area. Near-term support is at 0.7935, followed by the bottom support trend line of the […]
S&P 500 And Nasdaq 100 Forecast – Wednesday, Sept. 6
S&P 500 The S&P 500 sold-off rather drastically during the session on Tuesday, as US traders came back to work. However, you can see that we found support at the 2450 level and ended up forming a hammer for the day. This shows just how resilient the market is, and with this being the case […]
