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University of Michigan surveys of consumer sentiment slumps in March to the lowest since October 2016.
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Bank of Canada lowered key policy rate from 0.75% to 0.25% on Friday. The central bank intends to provide support to the financial system and the economy during coronavirus pandemic. BOC says Governing Council stands ready to take further…
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For those trading major FX markets, this crisis is unique. There have been some big swings but no clear move in one direction across major currencies and no sustained demand for perceived safe assets. Sterling collapsed and then bounced…
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The Euro dips below 1.10 handle on Friday after earlier upticks were capped by 200DMA (1.1081). The pair rallied 1.3% on Thursday, making the biggest daily advance since 12 Jan 2018 and generated bullish signal on close above daily…
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Spot gold eases on Friday, taking a breather after bulls failed to clear Fibo barrier at $1643 (76.4% of $1703/$1451 fall) on first attempt. Overall picture remains positive as the yellow metal advanced nearly 8% this week and on track for…
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The dollar index accelerated lower on Thursday, extending steep pullback into fifth straight day. Fresh weakness broke below key supports at 100.28/00 (Fibo 38.2% of 94.59/103.80 rally / psychological), generating strong reversal signal.…
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Cable stands at the front foot in European trading on Thursday, following bullish signal on previous day’s close above 1.1832 (Fibo 23.6% of 1.3199/1.1409) but bulls face headwinds on approach to psychological 1.20 barrier, with near-term…
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The Euro extends recovery into fifth straight day, with bullish signal generated on Wednesday’s close above 1.0838 Fibo barrier (23.6% of 1.1494/1.0635). Fresh advance cracks the base of thick daily cloud (spanned between 1.0930 and…
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The pair maintains bullish tone and eyes key barriers at 112.22 (2020 high) and 112.40 (2019 high) as four consecutive closes above Fibo barrier at 109.61 (76.4% of 112.22/101.18) added to positive signals despite evident hesitation that is…
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