GBP - Strong Bearish 1️⃣ Former Democratic Union Party (DUP) leader Arlene Foster has raised concerns of irreparable damage due to the deadlock over the Northern Ireland (NI) protocol. 2️⃣ UK Prime Minister Boris Johnson intends to pursue tax hikes despite objections from his Cabinet. 3️⃣ The UK has recorded 37,011 new COVID cases and 68 more coronavirus-related...
EURO - Weak Bearish 1️⃣ Both Sentix and ZEW investor confidence are seen declining due to the rapid spread of the COVID-19 variant Delta in the region. CAD - Strong Bullish 1️⃣ A risk-on market environment can support the strength of CAD. 2️⃣ Canada’s inflation rate rose to 3.7% in July, from 3.1% in the previous month. 3️⃣ The unemployment rate in Canada also...
CAD - Weak Bullish 1️⃣ Rising crude oil prices, in addition to a risk-on market environment can support the strength of CAD. JPY - Strong Bearish 1️⃣ Positive markets put pressure on safe-haven currencies like the JPY. ===== Technical ===== We are buying the CADJPY after it fails to break support level and bounced back. ===== Risk to this trade ===== Any...
GBP - Weak Bearish 1️⃣ The number of daily COVID-19 cases in the UK increased by 32,181, while the number of deaths increased by 50 people. 2️⃣ Former Democratic Union Party (DUP) leader Arlene Foster has raised concerns of irreparable damage due to the deadlock over the Northern Ireland (NI) protocol. NZD - Strong Bullish 1️⃣ Positive sentiment in the market...
🇨🇦 CAD - Strong Bearish 1️⃣ Risk-off sentiment and declining oil prices weighing on the CAD. 2️⃣ Canadian GDP shrank 0.3% on quarter in Q2 2021. 3️⃣ Canadian trade balance for July is expected to decline. 🇯🇵 JPY - Strong Bullish 1️⃣ The JPY benefits from a risk-off market environment. ===== Technical ===== We are selling the CADJPY after it failed to break the...
🇬🇧 GBP - Weak Bullish 1️⃣ The risk-on environment and the surge of COVID-19 cases in Asia could boost demand on the GBP. 🇯🇵 JPY - Strong Bearish 1️⃣ Positive markets put pressure on safe-haven currencies like the JPY. ===== Technical ===== We are buying the GBPJPY after its break previous resistance levels and now become support levels. ===== Risk to this...
AUD - Strong Bearish 1️⃣ New South Wales Australia reported 1,029 cases of local infection. Meanwhile, lockdowns in the state were extended until September 10. 2️⃣ Market sentiment turned negative after Australia reported more than 1 thousand cases of infection. 3️⃣ As a high-beta currency, the AUD is under pressure from negative sentiment. 4️⃣ Retail sales in...
CAD - Weak Bearish 1️⃣ Crude oil prices fell slightly on Thursday amid concerns about stock demand following additional restrictions in several countries. JPY - Strong Bullish 1️⃣ Risk-Off sentiment benefits the safe-haven JPY. ===== Technical ===== We are selling the CAJPY after the price has broken the support levels. ===== Risk to this trade ===== Any...
EURO - Weak Bearish 1️⃣ Pressured by negative sentiment in the Eurozone. 2️⃣ Concerns about the spread of COVID-19 variant Delta in the region. 3️⃣ In August 2021, ZEW economic sentiment in the Eurozone fell by 18.5 points to 48.7 from the previous month’s 61.20. 4️⃣ Both Manufacturing and Services PMIs in the Eurozone declined due to the rise of COVID-19 in the...
CAD - Strong Bullish 1️⃣ CAD benefited from the surge in WTI crude oil prices and the positive market environment. JPY - Strong Bearish 1️⃣ The recovery in the stock market is pressing demand on the safe-haven currency JPY. ===== Technical ===== We are buying the CADJPY after it failed to break and bounced back at support levels. ===== Risk to this...
NZD - Weak Bullish 1️⃣ Recovered from a massive sell-off last week after Fed Officer Robert Kaplan considered delaying a reduction in Fed stimulus. 2️⃣ A positive market environment benefits high-beta currencies such as the NZD. 3️⃣ New Zealand retail sales jumped 3.3% in Q2. 4️⃣ New Zealand’s trade balance is also projected to rise in July following a surge in...
EURO - Weak Bearish 1️⃣ Pressured by negative sentiment in the Eurozone. 2️⃣ Concerns about the spread of COVID-19 variant Delta in the region. 3️⃣ In August 2021, ZEW economic sentiment in the Eurozone fell by 18.5 points to 48.7 from the previous month’s 61.20. 4️⃣ The IHS Markit Eurozone Manufacturing PMI edged down to 61.5 in August of 2021 from 62.8 in July,...
GBP - Weak Bearish 1️⃣ The annual inflation rate in the UK dropped to 2.0% in July. CAD - Strong Bearish 1️⃣ The decline in crude oil prices is depressing CAD. 2️⃣ Canadian retail sales for June are expected to be weaker following a decline in wholesale sales. ===== Technical ===== We are looking to sell GBPJPY around resistance. ===== Risk to this...
NZD - Strong Bearish 1️⃣ The rise of COVID-19 cases around the world has caused investors to flee to safe-haven assets. 2️⃣ New Zealand Head of Health Ashley Bloomfield expects this latest spread to hit 50-100 cases. 3️⃣ The RBNZ kept interest rates at a low of 0.25% at its August meeting amid concerns over the latest COVID-19 spread. 4️⃣ New Zealand implements...
CAD - Strong Bearish 1️⃣ The risk-off environment and further decline in crude oil prices depressed the CAD. 2️⃣ The Canadian inflation rate for July is expected to decline following the decline in the price component of the PMI IVEY. CHF - Strong Bullish 1️⃣ CHF benefited from safe-haven flows as investors sought protection due to negative...
GBP - Strong Bullish 1️⃣ The decline in infection cases and the easing of restrictions in the UK support demand on the GBP. 2️⃣ Preliminary readings show that the UK economy grew by 4.8% in the second quarter, recovering from a 1.6% contraction in the previous period. 3️⃣ The UK unemployment rate fell to 4.7% from 4.8%, while employment rose 95K in June. 4️⃣ The...
GBP - Weak Bullish 1️⃣ The decline in infection cases and the easing of restrictions in the UK support demand on the GBP. 2️⃣ Preliminary readings show that the UK economy grew by 4.8% in the second quarter, recovering from a 1.6% contraction in the previous period. CAD - Strong Bearish 1️⃣ The risk-off environment and further decline in crude oil prices...
EURO - Strong Bearish 1️⃣ Pressed by the strength of the US dollar. 2️⃣ Concerns about the spread of COVID-19 variant Delta in the region. 3️⃣ Investors digest the dovish tone from the recent ECB meeting. 4️⃣ In August 2021, ZEW economic sentiment in the European Zone fell by 18.5 points to 48.7 from the previous month’s 61.20. GBP - Weak Bullish 1️⃣ The decline...