.fonecable {

Tests 38.2% retracement The USDJPY has fallen below the 200 hour MA at 107.41. That has tilted more of the bias to the downside (at least intraday). However, getting below the 38.2% […]

The latest CDC numbers The low mortality is a big talking point at the moment. The bear case is that it’s a lagging indicator. The bull case is that younger people are […]

Early rally wiped out USD/JPY is at the lows of the day and approaching a one-week low after the Asian rally was wiped out. The pair is now down 11 pips on […]

Trade idea from Mitsubishi UFJ MUFG Research recommends selling CAD/NOK from 7.0000 wit ha target of 6.7500 and a stop at 7.1425. "We are recommending a short CAD/NOK position. The position reflects […]

What’s the Australian dollar trade ". Given that Lowe was the leader in international forums arguing against central banks cutting interest rates in order to get weaker currencies, ," CACIB adds. Continue […]

Still hold solid gains. The NY headlines seem to have given traders a reason to sell stocks modestly. The major indice still hold onto solid gains on the day but they are […]

The tri-state area has avoided the hotspot trend The NJ transmission rate has moved to 1.03 which is the highest in 10 weeks.    Gov. Murphy warns that "This is a warning […]

50% retracment stalls the rally The USDCHF has rebounded off lows but the corrective rally in the NY session has stalled at overhead resistance.  That resistance comes in at 0.94199 to 0.94265.  […]

Topside trend line at 1.3556. Swing area below between 1.3504 and 1.3520 Technically, the initial moved to the downside stalled near the top of a swing area going back to June 16 […]

Closing changes for the main European bourses: Continue Reading:… Search Web: European equity close: Fast start to the week

June 16 and June 23 highs at 0.69735 to 0.69758 The AUDUSD is trading higher on the day and in the process is above the swing highs from June 16 and June […]

The latest data from Arizona The latest shows 3352 new cases of coronavirus in Arizona compared to 3536 yesterday. That compares to the record 4877 on July 1. Continue Reading:… Search Web: […]

Price could not extend to the high from last week  The GBPUSD could not extend to the high price from last week at 1.25291 nor to the high swing area from June 23/June 24 […]

Up nearly 2% on the day the NASDAQ index has extended to a new session high and is up over 200 points at 10408. The high price just reached 10411.72. The index […]

Bank of Canada business outlook survey highlights Continue Reading:… Search Web: Bank of Canada Q2 business outlook future sales -35.0 vs +22.0 prior

Florida Covid cases – Florida Covid 19 cases rise by 3.2% vs. 7 day average of 5.1% – total cases reach 206,447 vs. 200,111. The rise is 6336 cases. Florida reported 10,059 […]

Florida virus data due near the bottom of the hour It took a few minutes but the US dollar is making some headway after the surprising jump in the June ISM non-manufacturing […]

High reaches 1.1345 The EURUSD reached toward the June 23 high at 1.1348 (and the high from June 16 at 1.13527), but stalled at 1.1345. The price has pushed lower. The better […]

The ISM non-manufacturing index for June 2020 Details: Continue Reading:… Search Web: June US ISM non-manufacturing index 57.1 vs 50.2 expected

Back near Friday closing levels The USDJPY has seen an up and down session so far. The initial move was to the upside. However, when the price approached the 100 day MA […]

US dollar struggles Gold is at a session high at $1787, which is just $2 from last Wednesday’s seven-year high of $1789. Continue Reading:… Search Web: Gold nears a fresh record high […]

The June survey from Markit This is a good signal ahead of the ISM non-manufacturing index due at the top of the hour. The consensus is 50.2 but given that US data […]

Major indices solidly higher The US major stock indices are opening with solid gains. A few minutes into the opening the major indices are showing: Continue Reading:… Search Web: US stocks open […]

Layoffs and empty shopping malls? We’ve seen the coronavirus crash and the reopening bounce, but what comes next? I compare it to holding a ball underwater, then releasing it. All we know […]

Trend line below at 1.2479. Swing ceiling at 1.2529-41 The GBPUSD continued to hold trend line support on the hourly chart on the correction lower today (see green numbered circles). That trend […]

High from last week and 38.2% are targets The GBPJPY has held support at the 100 day MA on the dip today, but has more upside work to do to keep the […]

Wild move in Chinese stock markets What to make of the nearly 14% rally in the Shanghai Composite in the past five days? We’ve seen parabolic moves in individual stocks for months […]

Cracked above the 100/200 hour MA in the Asian session and took off. The EURUSD has raced higher to started the week with a trend-like move higher.  The price started the day […]

Israel has had a complete backslide Continue Reading:… Search Web: Israel to close bars, event halls and gyms immediately

What’s coming up today The market is feeling good as New York wakes up for the week. Commodity currencies are higher and stock futures are up more than 1.5%. It all started […]

The USD is right behind the JPY  The USD is right behind the JPY fighting for the weakest of the major currencies. The EUR and the CHF are the strongest as North […]

Forex news from the European trading session – 6 July 2020 Headlines: Markets: – EUR leads, USD and JPY lag – European equities higher; E-minis up 1.1% – US 10-year yields up […]

EUR/USD touches a high of 1.1317, the highest level since 24 June Buyers are looking to capitalise on a push above 1.1300 going into North American trading, with price now looking towards […]

Can European and US investors keep the torch alight in the latter half today? China led the optimistic charge finish with over 5% gains In turn, that is keeping risk trades more […]

Latest data released by Eurostat – 6 July 2020 – -11.7%; revised to -12.1% – Retail sales -5.1% vs -6.5% y/y expected – Prior -19.6% Retail sales activity rebounded strongly in the […]

AUDUSD Looking to trade the AUDUSD?  to learn more. Checkout ForexSource.co Continue Reading:… Search Web: AUDUSD moves higher on strong risk on flows into 0.6980

Ready for the day ahead Looking to find out what you need to know before each trading day?  to learn more. Checkout ForexSource.co Continue Reading:… Search Web: What to know before you […]

Latest data released by Markit/CIPS – 6 July 2020 – 28.9 That is a decent rebound in construction activity as the economic reopening gathers pace, with new orders even seen stabilising after […]

Latest data released by Sentix – 6 July 2020 – -24.8 Investor confidence gets a mild boost relative to the June survey, but is staying more depressed than expected. If anything, this […]

Reuters reports, citing sources familiar with the BOJ thinking Adding that this should heighten the odds of the BOJ keeping policy steady at its 14-15 July policy meeting, after having added to […]

Latest data released by the SNB – 6 July 2020 – Domestic sight deposits CHF 605.9 bn vs CHF 602.5 bn prior Prior week’s release can be found . Another modest increase […]

Comments by Japanese economy minister, Yasutoshi Nishimura – This will be based on the premise of thorough steps to prevent the virus spreading – Virus experts suggested need for strategic testing New […]

Latest data released by Markit – 6 July 2020 – 40.1 Not much of an improvement as German construction activity remains mired in a downturn, as activity falls for a fourth straight […]

EUR/USD buyers looking for a nudge above 1.1300 again Buyers are making some good strides on the day, breaking away from the key hourly moving averages and back towards the high last […]

The positive risk tones continue to play out – Eurostoxx +1.6% – Germany DAX +1.9% – France CAC 40 +2.0% – UK FTSE +2.0% – Spain IBEX +2.5% This comes on the […]

AUD/USD is testing near-term resistance around 0.6975-77 currently The pair is buoyed as we see risk-on vibes carry over to European trading, with the dollar keeping weaker and the aussie underpinned as […]

The daily turnover also exceeded ¥1 trillion on Thursday and Friday last week here The run higher in Chinese equities over the past week has been unrelenting, but fears of a repeat of […]

The daily cases exceed the 100 mark for a fifth straight day While Tokyo governor, Yuriko Koike, easily won re-election over the weekend, the coronavirus cases in the Japanese capital isn’t slowing […]

The positive vibes reverberate to Europe in early trades – German DAX futures +2.3% – UK FTSE futures +1.7% – Spain IBEX futures +2.1% Chinese equities are still surging into the final […]

Turns out they didn’t, via Reuters Getting an edge in the markets is a constant pursuit of investors keen to be on the right side of  trades as early as possible. A […]

CHF and JPY safe haven status Looking to trade the JPY and the CHF?  to learn more. Checkout ForexSource.co Continue Reading:… Search Web: Why are the CHF and the JPY considered safe […]

Asian equities surge to start the week It is all about that is driving the momentum in stocks. the "bull market" narrative The positive vibes are spilling over to Europe and is […]

Latest data released by Destatis – 6 July 2020 – -25.8%; revised to -26.2% – Factory orders -29.3% vs -24.0% y/y expected – Prior -36.6%; revised to -36.9% Slight delay in the […]

Daily thread to exchange ideas and to share your thoughts As such, the dollar and yen are notably on the back foot as we see other major currencies keep modest gains going into the […]

The CSI 300 index is trading to its highest levels in more than five years The rally today in Chinese stocks has been unrelenting. Investors are back from the lunch break and […]

Chinese state media is pushing the narrative that a bull market is here What is even more impressive is that trading volumes are surging, with daily turnover exceeding ¥1 trillion on Thursday and […]

Risk-on to start the new week For some context, WHO noted over 200,000 coronavirus cases in 24 hours across the globe on Saturday – a record figure. It is still early in […]

GS say that outside the US, the cyclical news is generally positive.  We are very optimistic in Europe Meanwhile EUR is having a good session here: Earlier from GS, not so optimistic […]

From a Citi analysts client note – the bank has switched from bearish to neutral Says markets seem to be less troubled about the rising number COVID-19 cases, due to: Continue Reading:… […]

Forex news for Asia trading Monday 6 July 2020  –   –   A strong day for the risk trade across FX and Chinese equities with any bad news shrugged off and […]

Francois Villeroy de Galhau is head of the Bank of France and as such is on the European Central Bank policy baord Said the coronavirus pandemic has permanently changed European economic policy. […]