What else can Draghi tell to be more clear? He is insisting on keep saying that ECB will not change the monetary policy. Eurozone macroeconomic figures are not showing a healthy economy overall.
What is the reason for selling Dollar and buying Euro?
Pay attention daily closing below 1.13100 to add short.
Near Term Bearish Gold Fundamentals
Improving optimism is picking up as the U.S. and China appear to be moving closer to resolving their trade dispute.
Growing momentum in the U.S. dollar, and rising equity markets. Equity markets soon will be normalised. Because of the government shutdown, the U.S. economic data remains relatively light. Markets are pricing: No ...
Canada CPI unexpectedly rebounded to 2.0% in December despite a notable drag from energy prices Expectations were for the headline rate to hold steady at 1.7%, but a significant jump in airfares (methodology changes have made this component extremely volatile over the last six months) added a surprising 0.3 percentage points. By contrast, the BoC’s core inflation ...
Fundamentals affecting Palm Oil Prices (And the other Vegetable Oil Prices):
Prices of crude palm oil and other oils depend on the outlook for stocks
Palm oil – along with Soybean oil – is affected by crude oil prices, as it is used as feedstock to make biodiesel.
Palm oil prices are impacted by movements in Soybean oil rates, as they compete for a share in the ...
Low storage level (relative to historical norms) is making the price extremely susceptible to changes in the weather models. Instead of pushing the price higher gradually by 5-10 cents a week, bullish changes in the short-term weather models create fear, which results in double-digit rallies over the course of a single trading session, as happened on Monday, ...
The latest EIA data released on Wednesday showed that the US crude oil production reached a record 11.9 million bpd in the week ending January 11th, which re-ignited supply glut worries. Adding to this, gasoline stocks were at their highest weekly level since February 2017.
We focus on the triangle on H1 Chart with keeping our midterm bullish bias.
XCUUSD Copper ( Spot FX Rate ) is trading at 2.6570 as of writing.
We see a bullish bias in the industrial metals sector, triggered by the US/China trade talks.
On the smaller charts, Copper broke the bearish trend line. Metal is printing a cup and handle pattern.
- DUP's support TM supports GBP
- Carney's speech headlines: BoE will start rate hike as soon as a Brexit deal's done.
- Slowing down the Chinese Economy and RBNZ rate hikes, not before 2020
The target of the formation: 1.96000
Carney's speech and UK CPI RS data on focus.
A bullish scenario as described on the chart.
Breaking below 128170 would invalidate the setup
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Have a nice trading day to all!