Page 51 - Christopher Vecchio News Today

Weekly Technical Euro Forecast: Basically a Falling Knife Advertisement Technical Forecast for the Euro: Bearish The Euro has been cut down to size in recent days, and technical studies among various EUR-crosses suggest that the weakness may continue. Net-long Euro positioning is now at its lowest level since July 2020 – and the reporting period ended prior to the selloff on Thursday and Friday. Euro Rates Week in Review It was a rough week for the Euro. Losing ground agai...

The British Pound’s performance against the commodity currencies has been a mixed bag.

Central Bank Watch: BOE & ECB Interest Rate Expectations Update Advertisement Central Bank Watch Overview: Against the backdrop of rising bond yields, both the Bank of England and European Central Bank will meet over the next two weeks. However, in some form or fashion, policymakers at both central banks have made clear that they’re looking past inflation pressures – and by extension – rising long-end yields in the short-term. Markets are likely to continue to test the...

Euro Forecast: EUR/AUD, EUR/CAD, EUR/NZD Rates Outlook Advertisement Euro Outlook: The Euro has been weaker than one might expect against the trio of major commodity currencies as a risk-off mood has gripped global financial markets. More significant breakdowns in pairs like EUR/AUD and EUR/CAD appear to be starting (or may soon), while EUR/NZD rates have not broken their pandemic downtrend yet, suggesting bears remain in control. According to the IG Client Sentiment Index, the Euro has a mixed...

New Zealand Dollar Forecast: Long-term Bullish Outlook Unchanged - Setups for NZD/JPY, NZD/USD Advertisement New Zealand Dollar Outlook: Both NZD/JPY and NZD/USD rates have fallen back from their yearly highs set just last week, but that doesn’t mean bulls are done yet. The RBNZ’s change in remit actually makes its monetary posture more hawkish relative to its previous moorings, and moreover, much more hawkish than other central banks. New Zealand Dollar Bolstered by RBN...

British Pound Forecast: Digesting Gains Around Spring Budget - Levels for GBP/JPY, GBP/USD, EUR/GBP Advertisement British Pound Outlook: After a strong run higher, the British Pound may be due for a period of pullback, if not consolidation, before further gains. But longer-term technical studies suggest more strength for Sterling. Reaction to the UK Spring Budget was muted among the major GBP-crosses, not a surprise given that the contents of the budget are known ahead of th...

The Canadian Dollar was hobbled last week, but more gains may be ahead yet.

Rising bond yields and appreciating currencies are front-and-center for the commodity currency central banks.

Silver Prices Break February Low - Does it Matter? Levels for XAG/USD Advertisement Silver Price Outlook: Despite the sharp uptick in global bond yields over the past week, silver prices have proven resilient. The drop below the February low and quick return above henceforth suggests that demand for silver remains ample around key technical support. Recent changes in sentimentsuggest that silver prices have a bearish bias in the near-term. Silver Prices Weather Rising Yields Like other precious...

Monthly Forex Seasonality - March 2021: Dollars Mixed but Gold, Stocks Favor Weakness Advertisement March FX Seasonality Overview: In recent years, March has produced EUR/USD gains, losses by USD/JPY, gold, and stocks. It’s a mixed bag. US Dollar seasonality (via-a-vis the DXY Index) has been negative over the past 5-years (-0.61%), but positive over the past 10-years (+0.09%). Gold prices typically struggle in March, as evidenced by both the 5-year (-0.4%) and 10-year (-0.67%) performances....