Pound falls further as pressure on PM May to step down rises
Sterling continues to spiral down and hit new lowest levels since early Jan, as political turmoil in the UK intensifies and fears of no-deal Brexit rise that overshadows EU elections
Prime Minister Theresa May is under strong pressure to…
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Upbeat Canada’s retail sales push loonie to one-month high
Better than expected Canada’s retail sales (Mar 1.1% vs 1.0% f/c / Core 1.7% vs 0.9% f/c) pushed loonie to new one-month high at 1.3357.
USDCAD’s fresh bearish acceleration broke through 55SMA support (1.3394), former lows (1.3380/76) and…
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Studies signal correction but bears remain in control; Fed minutes in focus
The Euro ticks higher in European trading on Wednesday, supported by rising momentum and daily stochastic reversing from oversold territory.
Tuesday’s long-legged Doji suggests that the bear-leg from 1.1263 (13 May spike high / strong…
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Bulls are taking a breather and awaiting fresh signals from FOMC minutes
Bulls are taking a breather under new two-week high at 110.67, posted after Tuesday’s strong rally, which generated strong bullish signal on break and close above important Fibo barrier at 110.31.
The dollar benefited from risk mode…
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Fresh bullish signal on break above 200SMA
The cross broke through key barriers at 0.8790/92 (200SMA / 50% retracement of Jan/Mar 0.9113/0.8471 fall) on Tuesday, holding in green for almost two weeks and extending steep rally from 0.8489 (6 May low).
Close above 200SMA would add to…
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Sterling continues to travel south after PM May’s improved Brexit plan failed to attract
Pound stays in red in early Wednesday’s trading and hits new lowest levels since early Jan, following Tuesday’s short-lived recovery attempts above 1.2800 mark.
The sentiment remains negative after PM May’s enhanced plan failed to attract…
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Fresh risk mode pushes dollar through key Fibo barrier
The pair accelerated higher in during mid-European trading to hit new 2-week high in early US session on Tuesday.
Firm break above key Fibo barrier at 110.31 (38.2% of 112.40/109.02 descend) signaled bullish continuation as fresh rally…
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Pound is awaiting PM May’s speech for fresh signals
Pound jumped to session high at 1.2745 on the latest news that PM May will make a speech today (15:00GMT) and present the details of Brexit legislation before parliament vote in June.
May is expected to present her Brexit plan that was…
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Turkish lira stabilizes on CBRT’s easing; all eyes on Q1 GDP
The Turkish lira stabilizes within narrow range between rising 20SMA and south turning 10SMA, with threats of fresh weakness following post-intervention rally, fading.
The CBRT’s decision to undo tightening and lower interest rates by 150…
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Near-term action is in neutral mode and looks for fresh direction signals
US CRUDE OIL
WTI oil holds within tight range on Tuesday after the third consecutive failure to make sustained break above cracked $63.30 pivot (50% retracement of $66.58/$60.03 / 30SMA).
Key factors that influence oil prices, US/Iran…
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