Sterling, Canadian Dollar and Euro surged broadly last week on hawkish comments from central bankers. The turn in BoE Governor Mark Carney was the most drastic as just a week a go, he said it's not the time of rate hike yet. But then, he indciated the BoE MPC will start debating raising interest rate in the coming months. BoC Governor Stephen Poloz repeated his comments that prior rate cuts in 2015 have already done their job. But this time, Poloz hinted that BoC is approaching a new interest ra…
Community Blog
EUR/USD Weekly
EUR/USD's rise resumed last week and reached as high as 1.0999 last week. Further rise would be seen to 1.1058 projection level. But we maintain that rise from 1.0339 is a corrective move. Hence, we'd expect strong resistance around 1.1058 to limit upside to bring near term reversal.
Initial bias in EUR/USD remains on the upside this week. Current rally would be seen to 100% projection of 1.0339 to 1.0828 from 1.0569 at 1.1058. At this point, rise from 1.0339 is still seen as a corrective move. …
Initial bias in EUR/USD remains on the upside this week. Current rally would be seen to 100% projection of 1.0339 to 1.0828 from 1.0569 at 1.1058. At this point, rise from 1.0339 is still seen as a corrective move. …
Weekly Short Snapshot.
Morning Users;
as expected last week the RBA kept Australian interest rates on hold at 2.0% whilst avoiding any suggestion that it would be taking a more dovish tone in coming months. The lack of a clear indication of possible further cuts gave the AUD some respite in the aftermath of the decision but sluggish retail sales figures, the largest ever trade deficit and stronger offshore data saw that the upside for the Aussie was short-lived.With the business week in Australia not getting underway …
as expected last week the RBA kept Australian interest rates on hold at 2.0% whilst avoiding any suggestion that it would be taking a more dovish tone in coming months. The lack of a clear indication of possible further cuts gave the AUD some respite in the aftermath of the decision but sluggish retail sales figures, the largest ever trade deficit and stronger offshore data saw that the upside for the Aussie was short-lived.With the business week in Australia not getting underway …