Page 58 - Christopher Vecchio News Today

Brexit Latest: Deal Speculation Sinks Ranging EUR/GBP Rates Advertisement Brexit Deal Overview: EUR/GBP rates have reversed lower in the confines of their multi-month triangle and sideways consolidation. Although consolidation is ongoing, the return to range lows, particularly in the context of avoiding a ‘no deal, hard Brexit,’ means traders should keep a potential bearish breakout on their radar. Hope for Brexit Deal Buoys GBP The British Pound is sitting near session ...

Canadian Dollar Forecast: Bullish Momentum Favors CAD Gains - Levels for USD/CAD, CAD/JPY Rates Advertisement Canadian Dollar Forecast Overview: Fresh yearly lows in USD/CAD rates have emerged – will new highs in CAD/JPY rates follow? Monthly seasonality favors a stronger Canadian Dollar and both a weaker Japanese Yen and US Dollar, suggesting that recent bullish CAD momentum may continue. According to the IG Client Sentiment Index, USD/CAD rates may not continuing falling just yet. Canadian...

US Recession Watch, December 2020 - Yield Curve Hides Slowing Economy Advertisement US Recession Watch Overview: The US Treasury yield curve has steepened in recent weeks (long-end rates rising faster than short-end rates), but that might not mean that the US economy is out of the woods from the coronavirus pandemic. Q4’20 Atlanta Fed GDPNow projects an +11.2% real quarterly growth rate, but data momentum is slowing, and it’s possible that failure by the US Congress to agree to fiscal stimu...

FX Week Ahead - Top 5 Events: Fed, BOE, & BOJ Meetings; Canadian Inflation; Australian Jobs Report FX Week Ahead Overview: The final ‘full’ week of the year brings about the last wave of significant event risk from around the globe, including three central bank rate decisions (Fed, BOE, & BOJ). Monthly seasonality for December is favorable towards risk appetite in FX markets, with the Japanese Yen and US Dollar as the two worst performing currencies during the month. The major USD-pairs hav...

Central Bank Watch: BOC, RBA, & RBNZ Interest Rate Expectations Update Advertisement Central Bank Watch Overview: Budding optimism over a global growth rebound post-pandemic is helping fuel demand for global growth-linked assets and currencies, like the Australian, Canadian, and New Zealand Dollars. Each of the commodity currency central banks – the Bank of Canada, Reserve Bank of Australia, and Reserve Bank of New Zealand – have seen rate cut expectations evaporate. Retail trader positioni...

Brexit Latest: Deal or No Deal? EUR/GBP Rates are Trapped in Range Advertisement Brexit Deal Overview: EUR/GBP rates have been trading sideways for the better part of six months, and without resolution to the Brexit saga, there’s little reason to think the range will break. Previous analyses focusing on a potential bearish range breakout proved early; a reconstituted symmetrical triangle suggests more consolidation could be ahead. Another Can-Kick Down the Road The hyped d...

Analyst Pick: NZD/JPY Rates Working on Long-term Bottom Advertisement Analyst Pick Overview: NZD/JPY rates are extending gains after breaking above the descending trendline from the January 2014, July 2017, December 2018, and August 2020 highs. The New Zealand economy continues to outperform the rest of the developed Western world in its handling of the coronavirus pandemic, leaving it well-positioned to take advantage of the early stages of a global growth rebound post-pand...

New Zealand Dollar Forecast: Bullish Momentum Gathering Pace for NZD/USD Rates Advertisement New Zealand Dollar Rates Overview: The New Zealand Dollar, a growth-linked currency, has benefited from rising risk appetite as the Asia-Pacific region has weathered the pandemic better than the West, and moreover, coronavirus vaccine approval and deployment has begun across developed Western economies. The New Zealand Dollar has a bullish bias, according to the IG Client Sentiment Index. New Zealand D...

Brexit Latest: GBP/JPY, GBP/USD Rates Pin Breakout Hopes on Brexit Deal Advertisement Brexit Deal Latest: GBP-crosses have experienced a wave of volatility in recent days around confounding Brexit headlines, and hopes of a last minute deal have bulls keeping the faith. Given how both GBP/JPY and GBP/USD rates have retained their bullish breakout potential, it would appear that rising risk appetite elsewhere – thereby sapping demand for safe havens like the Japanese Yen and...

Australian Dollar Rally Slows, but AUD/JPY, AUD/USD Momentum Points Higher Advertisement Australian Dollar Rates Overview: The two major AUD-crosses are breaking higher through technical resistance that defined consolidations in recent months. Growth-linked assets and currencies, like Australian Dollar, continue to benefit from improving investor confidence as coronavirus vaccine approval and deployment has begun across developed Western economies. There’s a mixed if not ...