The New Zealand Dollar managed to find
its way back to the topside last week,
with the primary driver of flow coming
from Wednesday's Fed Chair Powell
testimony. In contrast to this, the RBNZ
seems less dovish at the moment, with
recent PMI data supportive.
We like EURNZD shorts on pullbacks.
Stocks received a boost from the more positive headlines
relating to Huawei (which was on the US Black list).
This led to a big push in the equities markets,
which is continuing still.
The trend is up and pullbacks are favoured after the dovish FOMC.
U.S. oil futures hit their highest in over a
month as a potential hurricane
threatened crude output in the Gulf of
Mexico and as an incident involving a
British tanker in the Middle East
highlighted ongoing tensions there.
Along with a lower USD, we like the
odds of further upside today.
GBP has been suffering from renewed No-Deal Brexit speculation.
The Grieve amendment was rejected and the no-deal option is still
on the table. PM Johnson emerged in a TV debate with his opponent,
Hunt, shortly after the vote. A no-deal Brexit would be “vanishingly
inexpensive” to the British economy, said Johnson, if mishandled.
“The crucial thing is to...
The Loonie is the strongest currency
out there at the moment and is ignoring
the decline in Crude Oil. Firming inflation
and a decent BoC business survey will
encourage the BoC next week to reiterate
an optimistic tone.
On the flip side, BOE's Carney was quite
dovish yesterday, and that's why we like
further GBPCAD downside.
Sell a tad at market even, but...
Crude Oil received a boost
after Russia & Saudi Arabia agreed
to extend production cuts.
We like the odds of further upside.
Buy at market/close to the Short-Term
support zone and look for 61.00 and then 62.00.
We got some decent news over the weekend:
US/China trade truce, constructive surprise
Trump meeting with Kim Jong Un, a Russian/Saudi OPEC+
agreement on extending cuts. The markets are currently
digesting this risk-on sentiment with CHF and Jpy sold,
NZD, CAD and USD bought, and equities strong.
We like Dax longs this week especially after the
RBA Gov Lowe came out and said that it is "not unrealistic"
to expect a further cut to the RBA's cash rate.
We like playing AUD weakness against recent CAD
strength, after a splendid CPI beat yesterday.
Prefer pullbacks to get aboard, towards the short-term
resistance because the main target is close.
Stocks received a boost from the more positive wave of
headlines relating to a US-China trade deal. This led to a big
push in the equities markets, before things settled down.
Ranges are likely to hold before tonight's FOMC decision.
The trend is up and continuation breaks are favoured
if we get the dovish FOMC that everyone expects.
Trade AFTER the event -...
Yesterday we said most traders were waiting for
Draghi at Sintra. Here is waht we were waiting for!
Euro fell after Draghi says "rate cuts" are part of the
policy measures going forward.
Continuation break in play!
Slow morning in FX. Most traders are waiting for
Draghi at Sintra or the FOMC on Wednesday.
Euro fell back after the bullish ECB meeting and
now momentum is negative. Is the market is ready
to embrace a U-turn and explore the opposite direction?
Only Draghi or Powell will provide the answer.
Play continuation breaks, likely on any Sintra news today.
There has been a lot more buzz around adoption as the price
of Bitcoin surges, with many mainstream names coming out in
support of blockchain integration. Demand for web 3.0
applications is on the rise.
As usual, the technical aspects are more influential
than the fundamentals for BSV.
The upwards momentum has started again and we like
the odds of buying a...
Gold continues to be well supported on dips with solid
demand from medium and longer-term accounts.
These players are more concerned about exhausted monetary
policy, extended global equities, political uncertainty,
systemic risk and trade war threats.
Breakout in play!
Risk appetite is once again sour after Trump tweeted
and a Washington Post interview fuelled concerns over
political pressure on the Fed and trade woes anew.
The US President first tweeted that the US is put at a
‘big disadvantage’ as US rates are kept too high while
others are devaluing their currencies, explicitly
mentioning the EUR and CNY.
The Jpy crosses have benefitted from the weekend
news of an agreement between the US and Mexico,
and on reassurances from the Chinese government
that it will continue to provide stimulus.
We like using the risk-on sentiment to buy CadJpy
given the strength seen in the Loonie since
last week's employment numbers.
Buy on dips towards 81.80 or on a break of the...
UK leadership hopefuls launch campaigns to take
control of Brexit today. Initial news due around
17.00 CET. Boris Johnson is the main candidate
and he is pro-Brexit.
GBP is being pressured because of this,
since no EU-Government wants to see a
At the same time, Canadian data was
extremely strong and we like the odds
of further weakness in...