Won't Chase USD/CAD lower Into BoC - Nomura

The Canadian dollar received positive economic indicators and rising oil prices, yet NAFTA worries are holding it back. And now, the loonie faces the rate decision by the BOC. While Poloz and co. are expected to raise rates the team at Nomura is skeptical. Here is their view, courtesy of eFXnews: Nomura Research discusses USD/CAD outlook into the BoC January policy meeting on Wednesday. “We expect the BoC to raise

Bitcoin suffers from its own power usage and from real power - 3 examples

The price of bitcoin, the leading digital currency, is falling. While bitcoin is not alone, and Ripple is plunging at a faster pace, BTC remains the poster child of cryptocurrencies and it gets special attention. Power usage by bitcoin miners has been an issue for a long time. While in Quebec, the province has spare capacity for electricity that is based on renewable energy, this isn’t the case in many

EUR/USD: Is 1.25 The New 1.20 For ECB? - Nordea

EUR/USD enjoyed the weakness of the US dollar and surged to 1.23, where it took a break. What’s next? What levels are tolerable for the ECB? Here is the view Nordea: Here is their view, courtesy of eFXnews: Nordea FX Strategy Research discusses EUR/USD outlook, and notes that the pair has broken above its 2017 high and is now again markedly stronger than the ECB anticipated. “For how long will ECB accept

Bank of Canada said to deliver a rate hike but risks hang

Bank of Canada said to deliver a rate hike but risks hang – Forex News Preview Posted on January 16, 2018 at 4:57 pm GMTChristina Parthenidou, XM Investment Research Desk Just two weeks after the start of the new year, the Bank of Canada will be the first in line to decide on monetary policy and as forecasts suggest the central bank will likely go with another rate hike. Some

China growth to ease in Q4 after strong year; further slowdown expected in 2018 – Forex News Preview

China growth to ease in Q4 after strong year; further slowdown expected in 2018 – Forex News Preview Posted on January 16, 2018 at 3:53 pm GMTRaffi Boyadjian, XM Investment Research Desk China’s economy is expected to slow slightly in the fourth quarter of 2017 as government measures to curb pollution and deleverage highly indebted corporations and regional authorities take hold. The slowdown is expected to continue into 2018 as

Technical Analysis – US 30 index exceeds 26,000 to record fresh all-time high; bullish though RSI overbought

Technical Analysis – US 30 index exceeds 26,000 to record fresh all-time high; bullish though RSI overbought Posted on January 16, 2018 at 3:07 pm GMTAndreas Georgiou, XM Investment Research Desk The US 30 index rose to a fresh record high of 26,084.50 during today’s trading after significant advancing in the days that preceded. The positively aligned and steep upward sloping Tenkan- and Kijun-sen lines are indicative of the bullish

US Open Preview – Dollar posts gains though still trades near lows; kiwi traders eye dairy auction

US Open Preview – Dollar posts gains though still trades near lows; kiwi traders eye dairy auction Posted on January 16, 2018 at 12:41 pm GMTAndreas Georgiou, XM Investment Research Desk Here are the latest developments in global markets: FOREX: After considerable declines in the days that preceded, the dollar is in the green relative to other major currencies during today’s trading, though it managed to recover only a relatively

Technical Analysis – WTI oil futures make corrective move lower after hitting fresh 3-year high

WTI oil futures rallied to a fresh 3-year high of 64.86 on Monday after successfully rebounding off the 63 level. The underlying trend remains bullish but in the near term, prices are making a correction lower. Upside momentum has weakened, and RSI is turning back down on the 4-hour chart. The market has dipped below what was support at the 64 level and any additional losses would shift the focus to the

Technical Analysis – NZDUSD retreats after sharp bullish rally

Technical Analysis – NZDUSD retreats after sharp bullish rally Posted on January 16, 2018 at 10:58 am GMTMelina Deltas, XM Investment Research Desk NZDUSD has reversed aggressively back to the upside, after the rebound on the 0.6815 support level, posting an almost 4-month high of 0.7313 during Monday’s trading session. This top is above the 61.8% Fibonacci retracement of the down-leg from July’s more than a 2-year high of 0.7555

Technical Analysis – USDCHF tumbles following pullback of 0.9840; prints 4-month low

USDCHF has been underperforming in the past four days, breaking back below the strong psychological level of 0.9700 and challenged a fresh four-month low near the 0.9600 handle. When looking at the bigger picture the pair lacks a clear trend and has been consolidating within the 1.0340 and the 0.9420 barriers. In the daily timeframe, prices had a pullback of the mid-level of the Bollinger band and the 40-simple moving

European Open Preview – Dollar in recovery mode; UK inflation in the spotlight

European Open Preview – Dollar in recovery mode; UK inflation in the spotlight Posted on January 16, 2018 at 8:51 am GMTChristina Parthenidou, XM Investment Research Desk Here are the latest developments in global markets: FOREX: The dollar managed to recover a part of the previous days’ losses against a basket of currencies that saw it eventually fall to a three-year low during Monday’s trading. STOCKS: The Japanese Nikkei 225

UK inflation slides to 3% as expected - GBP continues downward correction

Inflation in the UK slides to 3% y/y as expected. Month over month, this is an advance of 0.4%.. Other figures were mixed: core inflation dropped from 2.7% to 2.5%, more than forecasts. PPI also fell short of expectations with a marginal rise of 0.1% while PPI Output came out ahead of projections with 0.4%. All in all, there were no big surprises here. GBP/USD slips from around 1.3780 to

EUR/USD: Caution Chasing Longs Here; USD/JPY; Staying Short - TD

EUR/USD has been on a tear, enjoying the ECB minutes, the German coalition, the unimpressive US inflation report, and more. However, it could take a break here: Here is their view, courtesy of eFXnews: TD Research discusses EUR/USD outlook and warns from chasing the pair higher around current levels. “The EUR signal is starting to show that EUR longs are getting stretched, though its still trading fairly close to our

Technical Analysis – GBPUSD pauses rally but has room for further upside

GBPUSD is pausing a 2-day rally that took the pair to its highest level since June 19, 2016, in the 1.38 handle. The outlook remains bullish after the market surged above 1.3600 last Friday. The immediate bias is neutral but there is scope for a re-test of yesterday’s high of 1.3819. From this point, the focus turns to the 1.4100 area. Dips are expected to find support in the lower

USD: 'Shutting Down'; Staying Bearish As US Govt Shutdown Looms - Barclays

The US dollar is clearly on the back foot, falling across the board. There may be another reason for further falls: a potential for a government shutdown. Here is their view, courtesy of eFXnews: Barclays Research discusses the USD outlook and notes that the renewed expectations of core central bank policy normalization and concerns about US policy priorities brought back USD softness after a short break early in the year,