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We start feeling the cracks in market optimism: the bonds extended their rally yesterday after the inflation data in Britain surprised to the downside, but major US indices saw a sharp retreat. A 12% plunge in FedEx – which acts like a gauge of economic activity, the overbought market conditions in major global stock indices […]

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Technical Outlook and Review

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07/06/2024

Canadian Dollar Eyes Can., US Job Data

The Canadian dollar has had a relatively quiet week and has ticked higher on Friday. In the European session, USD/CAD is trading at 1.3683, up 0.10%. We could see stronger movement from the pair in the North American session, when both the US and Canada release the May employment report. Canada’s job growth showed an […]
20/06/2024

USD/JPY: Probes Again Through Pivotal Fibo Barrier, Inflated by Diverging Monetary Policies

USDJPY continues to trend higher and cracks pivotal Fibo barrier at 158.22 (76.4% of 160.19/151.85) which recently capped several attacks. Sustained break here would generate fresh bullish signal for continuation of entire recovery from 151.85 (May 3 low) and open way for 159+ gains on stronger acceleration. Daily studies are in full bullish mode, though […]
06/12/2023

Technical Outlook and Review

DXY: The DXY (US Dollar Index) chart currently has a bearish overall momentum, and there’s potential for a bearish continuation towards the 1st support level. The 1st support at 103.72 is categorized as a pullback support, suggesting that it could be a significant level where buying interest may emerge, potentially providing support for the DXY. […]