USD/CAD at a 56-Month High

Short-term positive animal spirits have resurfaced in China and Hong Kong stock markets stoked by additional liquidity injection from PBoC and the creation of a “stabilization fund”. Long-term prospects are still dim as a liquidity trap scenario cannot be ruled out in the real economy due to weak consumer and business sentiment. Watch the next […]

Markets Consensus-beating June US retail sales only temporary interfered with reigning market momentum. Core retail sales rose by 0.8% M/M (& 0.9% M/M for retail sales control group) in what for now remains more of a catch-up move after weak consumer spending YTD. Sales were mainly boosted by goods spending with customers lured by price […]

USDJPY retains bearish bias MACD and RSI try to gain some momentum 23.6% Fibonacci acts as strong resistance USDJPY is continuing its descending movement, especially after the failed attempt to jump above the uptrend line and the 38.2% Fibonacci retracement level of the down leg from 161.94 to 141.60 at 149.50. As the market remains beneath the 23.6% Fibonacci of […]