Currency

USD/CHF rests on key support ahead of today’s FOC meeting. Yet once we get past the noise, we could see support give way. In an earlier report we flagged that USD/CHF had struggled to close above parity since May, and that we were watching for its potential to roll over back within range. Whilst it teased us near […]

It’s a mixed regarding USD performance overall, yet DXY points towards a near-term trough which could see a lower Euro and higher USD/JPY (at least over the near-term). By Thursday’s close, DXY had produced is sixth consecutive bearish session. Typically, we tend to see a streak ‘snap’ around 3-4 days, so a higher run can […]

Weekly COT Report: Bullish USD Exposure Hits A 6-Week High As of Tuesday 3rd December: Large speculators increased net-long to USD by $19.8 billion, taking it to a 6-week high Net-short exposure to AUD was decreased by 8,9k contracts Traders were their most bearish on yen in 6-months Weekly changes for FX majors were all under […]

BOC Optimism and Firmer WTI Boosts CAD | CAD/JPY, WTI BOC held rates as expected, although their statement was optimistic enough to send the Canadian dollar sharply higher. The statement was indeed one of optimism, although not hawkish as there is clearly no bias to raise rates. But with a relatively high OCR of 1.75%, it […]

RBA Hold Rates, Yet Could ‘Ease’ Their Way Into 2020 In the final meeting of the year, RBA decided to keep rates on hold 0.75%, whilst keeping the door open for further cuts. What made this meeting more interesting was that it followed on from Lowe’s highly anticipated speech last week, title “Unconventional Monetary Policy: […]

The week began with an element of risk on thanks for positive Chinese data over the weekend. China’s manufacturing PMI expanded in November to break a 7-months stretch of contraction according to China’s National Bureau of Statistics (NBS). At 50.2, it’s the highest read since March and backed up by new orders expanding to 51.3. […]

Key Resistance Levels: $70, $80, $90 Key Support Levels: $40, $30, $20   XMR/USD Price Long-term Trend: Bearish The coin had been trading above $50 in October in a sideways trend. In November, Monero made a positive move and broke above the $60 price level. The bulls could not sustain the move above the upper price level […]

GBPUSD Price Analysis – December 1 The pound had a positive prior week as traders anticipate to build the scenario for buyers to step in, and now it seems likely to continue on the upside. If we can exceed the crucial level on the level at 1.3012, it is likely that the pound sterling takes […]

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The dollar index has stalled near resistance levels as we approach December, a month which is typically bearish for the Greenback. A weaker USD could help NZD/USD break higher for oversold levels and USD/CHF fall from parity. Matt Simpson takes a technical look. City Index: Spread Betting, CFD and Forex Trading on 12,000+ global markets […]