Key risk events today: Canada Inflation; US Building Permits. (Previous analysis as well as outside sources – italics). EUR/USD: Europe’s shared currency went back to playing on the defensive against the US dollar Tuesday, shedding more than 1.50%, aided by a grim ZEW survey out of Germany. EUR/USD H4 dipped its toes south of the … Continue reading Wednesday 18th March: Dollar Index Remains Enthusiastic Though Testing Resistance at 99.62
Global Markets: Asian Stock Markets : Nikkei up 0.06%, Shanghai Composite down 0.34%, Hang Seng up 0.35%, ASX up 5.83% Commodities : Gold at $1485.50 (-0.07%), Silver at $12.71 (-0.85%), Brent Oil at $30.98 (+3.09%), WTI Oil at $30.41 (+4.86%) Rates : US 10-year yield at 0.802, UK 10-year yield at 0.421, Germany 10-year yield … Continue reading Tuesday 17th March: Mixed Markets after Historic US Falls.
Technically, EUR/USD remains within an interesting consolidation between 1.1223 and 1.1045 on the H4 scale. The upper boundary contains January’s opening level at 1.1222, a 38.2% Fibonacci resistance at 1.1223 and the 1.12 handle.
Global Markets: Asian Stock Markets : Nikkei down 2.46%, Shanghai Composite down 3.40%, Hang Seng down 5.51%, ASX down 9.70% Commodities : Gold at $1532.15 (+1.02%), Silver at $14.30 (-1.38%), Brent Oil at $31.76 (-6.17%), WTI Oil at $30.62 (-4.64%) Rates : US 10-year yield at 0.709, UK 10-year yield at 0.416, Germany 10-year yield … Continue reading Monday 16th March: Markets look forward to US stimulus package
The 2019 yearly opening level from 1.1445 elbowed its way back into the spotlight last week, with bears reasserting their dominance and snapping a three-week winning streak. Down more than 180 points, price dipped its toes back within a descending channel formation (1.1569/1.1215), and is poised to revisit support priced in at 1.0873 (the 2016 yearly opening level) this week, in line with the primary trend, drifting south since 2018.
