Page 56 - Christopher Vecchio News Today

Central Bank Watch: BOC, RBA, & RBNZ Interest Rate Expectations Update Advertisement Central Bank Watch Overview: It’s been a slow first week of the year for the major central banks, and activity is unlikely to get more exciting in the next few days. But rates markets remain active, and each of the central banks tied to the commodity currencies (AUD, CAD, NZD) have seen rate cut odds dissipate for 2021. Retail trader positioning indicates that suggests that the commodity c...

Gold 1Q 2021 Forecast: Gold Outlook Bullish Headed into First Quarter, with Caveats Advertisement Gold Price 1Q’20 Forecast Overview: While the 1Q’21 gold price outlook is bullish, there are some caveats – mainly, that gold may not be the best performing metal, precious or otherwise. Silver prices have a recent historical precedent to suggest that they are likely to lead gold prices for the foreseeable future. Technical outlook is bullish as well. What started with a ...

Canadian Dollar Forecast: Loonie Ready for Takeoff - Levels for CAD/JPY, USD/CAD Rates Advertisement Rising risk appetite is pulling down the Japanese Yen and US Dollar, with traders favoring growth-linked currencies like the Canadian Dollar. USD/CAD rates are heading back towards their yearly low, while CAD/JPY rates are still hovering below resistance that is constraining a breakout. According to the IG Client Sentiment Index, USD/CAD rates no longer have a bullish bias. ...

Euro Forecast: Bullish Breakout Attempts Starting in EUR/JPY, EUR/USD Rates Advertisement Euro Forecast Overview: EUR/JPY rates have rallied to fresh yearly highs, while EUR/USD rates are racing towards the yearly high set earlier in December. Recent shifts in short-term fundamentals have resolved several issues plaguing the Euro in recent months. Per the IG Client Sentiment Index, the Euro has a mixed bias in the short-term. Euro’s Bull Run Ready to Resume? The Euro is b...

Are Gold Prices on the Verge of their Next Rally? Levels for XAU/USD Advertisement Gold prices are hovering below downtrend resistance, and recent shifts in key fundamental factors suggest that more gains may be ahead. Gold prices continue to trade between the 23.6% and 38.2% Fibonacci retracements of the 2020 low/high range at between 1836.97 and 1928.05. According to theIG Client Sentiment Index, retail traders are buying gold as prices rise. Gold Price Action Remains Stur...

Brexit Latest: Deal Fails to Inspire GBP/JPY, GBP/USD Breakouts Advertisement Brexit Deal Overview: It’s the first full trading day since the Brexit deal was announced and the British Pound is trading…lower? Both GBP/JPY and GBP/USD rates have endured losses on the session. Concerns about a Brexit leading to a potential breakup of the United Kingdom are starting to make their way back into conversation. Retail trader positioning suggests a mixed bias to GBP/USD, but a bu...

Canadian Dollar Forecast: Loonie Yet to Take Flight - Setups in CAD/JPY, USD/CAD Rates Advertisement Canadian Dollar Forecast Overview: News flow boosting risk appetite has helped counter year-end repositioning, which was hurting the Canadian Dollar. USD/CAD rates have warded off a turn higher, while CAD/JPY rates remain on the precipice of a bullish breakout. Canadian Dollar Rally Resuming? The Canadian Dollar is catching a bid as the light, holiday week US trading session ...

1Q Forecasts: Vaccines Mean Hope Springs Eternal - Long MXN/JPY, Long Copper (XCU/USD), Long RUT & NDX 1Q Forecasts: Vaccines Mean Hope Springs Eternal: Long MXN/JPY, Long Copper (XCU/USD), Long RUT & NDX Advertisement There’s a gorilla in the room. My Top Trade Opportunities coming into 2020 were long crude oil and long CAD/JPY because, “Global Recession? Take the Under.” Now that the laugh is out of the way, in my defense, no one had “coronavirus pandemic” on the...

As a self-styled central bank Kremlinologist, I pay close attention to what policymakers say, when they say it, and how they say it. But to take central bankers’ statements and turn them into actio...

Brexit Latest: British Pound Rallies as EU-UK Agreement Nears - Levels for GBP/JPY, GBP/USD Advertisement Brexit Deal Overview: Over the past few hours, reports have emerged that the EU and UK have agreed to a framework for a Brexit deal. Will UK Prime Minister Boris Johnson get a deal? The Tory European Research Group (ERG) has said that it will review the deal before any recommendation is made to UK parliament. Brexit Deal…Secured? The British Pound is rallying on the ba...