FX

Tesla shares break $635 in a powerful surge. TSLA had been making slow but steady progress higher but has now charged ahead. $667 above is the next level but the volume profile predicts a struggle. Update: It is nice when things work out and some nice calls on Bitcoin and Tesla this morning have helped reaffirm

EUR/JPY bulls pressing against compelling supply stricture.  A 61.8% Fibo will be a big test ahead of prior daily support.  EUR/JPY bulls are taking charge and have moved on a prior area of the daily structure in late April and early May business.  The following illustrates the anticipated trajectory of a break or failure in

Since the start of the year, AUD/USD has evolved in a tight horizontal range centred on 0.77 and capped at 0.80. Economists at Société Générale see this phase as only a pause in the uptrend. RBA/Fed divergence on tapering “Regarding monetary policy, we expect the RBA to start implementing tapering in 2H, and the first

Commenting on the European Central Bank’s (ECB) exit timetable,  Sven Jari Stehn, Chief European Economist at Goldman Sachs said that the central bank could start stimulus withdrawal towards the end of 2021. Key quotes Given where the FOMC is placed in regards to adjusting policy this “should make the [ECB] Governing Council more confident that

Wall Street’s main indexes started the new week in the green. Energy stocks post strong gains on rising crude oil prices. Technology shares stay in the negative territory after the opening bell. After posting large losses last week, major equity indexes in the US started the new week modestly higher. As of writing, the Dow

The Retail Sales released by the Australian Bureau of Statistics has been released as follows: Retail Sales (MoM) May P 0.1% (est 0.4%; prev 1.1%). Analysts at Westpac said prior to the data that there was renewed COVID turbulence following Victoria’s move into a 14-day lockdown. ”That said, this occurred late in the month and was

What you need to know on Monday, June 21: The greenback kept rallying on Friday, posting its best weekly performance for this year. The advance was an extension of the post-Fed rally, as the US central bank catch investors off guard by bringing forward chances of rate hikes to 2023. Stocks fell in Europe and

Next week, the Bank of England will have its monetary policy meeting. Analysts at Wells Fargo, believe the central bank will signal another slowdown in asset purchases over the next few month. They see the next tapering taking place by the end of the summer. Key Quotes:  “Over the past few months, the Bank of

Commenting on the market reaction to the FOMC’s hawkish shift this week, Rabobank analysts noted that the sharp rally in the USD on the back of this week’s Fed meeting suggests a sharp re-adjustment in positions has been taking place.  Key quotes “It is possible that the Fed did too good a job in recent

GBP/USD Weekly Forecast: BOE may save sterling after massive Fed-induced 300-pip blow GBP/USD has tumbled down in response to a Fed decision, UK reopening delay. The BOE’s decision and a bulk of US figures are set to move the currency pair. Mid-June’s daily chart is showing bears are taking over. The FX Poll is pointing

Here is what you need to know on Friday, June 18: Happy Juneteenth day. The new US holiday falls on a Saturday this year so many businesses and workers are observing it today. The Dow is not taking a holiday but is instead taking a bath. After a fall on Thursday, Dow futures are indicating

AUD/USD remains range-bound below 0.7565, eases from intraday high of late. Failures to stay below 200-DMA, Momentum rebound backs recovery hopes. Six-month-old horizontal line guards immediate upside, bears need a clear break of 0.7520. AUD/USD remains sidelined around 0.7550, edges lower of late, during Friday’s Asian session. In doing so, the Aussie pair portrays a

Private sector employment in Canada continued to increase in May. USD/CAD clings to strong daily gains above 1.2330. Private sector employment in Canada increased by 101,600 jobs from April to May, the ADP Research Institute revealed in its monthly report on Thursday. This reading followed the previous print of 101,300 (revised from 351,300). Commenting on

May month employment statistics from the Australian Bureau of Statistics, up for publishing at 01:30 GMT on Thursday, will be the immediate catalyst for the AUD/USD pair traders. The figures become all the more important after the Reserve Bank of Australia’s (RBA) governor recently sounded cautious over the wage growth by nudging away rate hikes

Housing Starts in US rebounded following April’s sharp decline.  US Dollar Index extends sideways grind around 90.50. Housing Starts in the US rose by 3.6% on a monthly basis in May following April’s drop of 12.1% (revised from -9.5%), the data published jointly by the US Census Bureau and the US Department of Housing and

AUD/JPY trades cautiously in the Asian session. AUD remains grounded on upbeat economic data. Yen gains on its safe-haven appeal. The AUD/JPY cross-currency pair seesaws in the Asian trading session on Wednesday. The cross confides in a very narrow trading band. At the time of writing, AUD/JPY trades at 84.61, up 0.01% for the day.

Since June 3 earnings, DOCU stock has soared. Docusign shares now face critical resistance. DOCU stock is flat in Tuesday’s premarket. After a parabolic rise that saw Docusign (NASDAQ: DOCU) stock break out of its YTD descending price channel last week, the e-signature titan now approaches plenty of resistance between $262.65 and $268.80. Shares of Docusign closed

GBP/USD struggles to keep the bounce off monthly low. EU warns over UK’s reputation, France signals retaliation if London breaks Brexit deal. UK PM Johnson officially announced four-week delay to earlier June 21 unlock deadline. UK jobs report for May, US Retail Sales and pre-Fed sentiment will be the key. GBP/USD remains sidelined above 1.4100,