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Ex-Canadian Diplomat Detained in China — December 12th 2018

Escalating trade tensions between the US and China is currently dominating the sentiment in Market. The latest news is the arrest of the Canadian diplomat Michael Kovrig in China. According to experts, this is in response to the arrest of the Huawei executive Meng Wanzhou in Canada. Donald Trump has announced that he could do the best to ease the situation. The US dollar index is trading at 97.40. The USD/JPY pair is trading at 113.50. The producer price […]

Daily Market Roundup — December 12th 2018

The greenback is looking bullish at the moment. The pound is falling due to the decision by the British Parliament calls off the vote on the draft Brexit deal. The EUR/USD pair is looking bearish and the 1.1306 level below looks supportive. The resistance levels are 1.1350, 1.14, and 1.1453. The support levels are 1.1306, 1.1256, and 1.1150. The USD/JPY pair has broken out of the descending price channel. The resistance levels are 114.18, 114.74, and 115.97. The support […]

Pound Plummets After Theresa May Calls Off Vote in Parliament

Market participants who took short positions on the pound gained yesterday. This was due to Theresa May cancelled the decision to decide the draft Brexit deal in the British Parliament by voting. Hence it looks likely that Britain will leave the European Union with a harsh Brexit, no deal at all. Another likely scenario is another referendum on Brexit. So, the pound fell to 18-month low. The outlook for the pound in the near-term looks […]

Daily Market Roundup — December 11th 2018

The greenback gained and British pound fell to a new 18-month low. The EUR/USD pair has failed to break the resistance at 1.1445. Support exists below at 1.1350. The resistance levels are 1.1453, 1.1547, and 1.1572. The support levels are 1.1350, 1.1306, and 1.1256. The USD/JPY pair is no longer in a clear channel and is suppressed by a bearish trendline. The resistance levels are 113.23, 114.18, and 114.74. The support levels are 112.19, 111.43, and 111.31. The GBP/USD […]

What Destroys USDX — December 10th 2018

The greenback could not gain from the macroeconomic data released from the US. A rate hike looks less likely from the speech of James Bullard, the President of St. Louis Federal Reserve. The US dollar index is trading at 96.50. The USD/JPY pair is trading at 112.60. The GDP data released for Japan does not look positive for the yen. However, the economy of Japan is in good condition. The macroeconomic data released from China […]

Daily Market Roundup — December 10th 2018

The US dollar and stocks are falling, while Gold, euro, and Swiss franc are strengthening. The EUR/USD pair has broken to the upside. The broken resistance at 1.1470 could act as support. The resistance levels are 1.1453, 1.1547, and 1.1572. The support levels are 1.1360, 1.1306, and 1.1256. The USD/JPY pair is trading in a descending price channel. Whenever money flows into safe haven currencies, the yen gains from it. The resistance levels […]

USDX Struggling for Gains — December 7th 2018

The greenback has failed to find ground from the macroeconomic data released from the US. Only the speech by the ECB President, Jerome Powell was encouraging, indicating that the US economy is strong. This could lead to monetary tightening. Only a change in the current economic indications could decide the rate hike. The US dollar index is trading at 96.90. Currently, the market sentiment is heavily influenced by the escalating trade tensions between […]

Traders Doubt Truce Between US and China — December 6th 2018

Ahead of the release of non-farm payrolls report, investors have chosen to wait and watch happens next. It is expected that the Fed will maintain a dovish monetary policy. The US dollar index is trading at 97.00. Chinese manufacturer, Huawei, is accused by the US government of violating trade sanctions against Iran. It has worsened the trade relations between the US and China. The USD/JPY pair is trading at 112.60. The AUD/USD pair […]

Daily Market Roundup — December 6th 2018

The greenback is bullish. The Aussie and Crude Oil are looking bearish. The EUR/USD pair is through a wide consolidation and is also looking bearish. The resistance levels are 1.1417, 1.1453, and 1.1547. The support levels are 1.1306, 1.1256, and 1.1150. The USD/JPY pair is trading in a descending price channel. The resistance levels are 113.23, 114.18, and 114.74. The support levels are 112.63, 112.19, and 111.43. The GBP/USD pair is making new […]

USDX Cannot Recover

The greenback has managed to make some gains. However, it is under bearish pressure due to the macroeconomic data released. The US dollar index is trading at 97.10. The USD/JPY pair is trading at 113.05. The PMI report for China, released from Caixin indicates a positive reading, which was more than expected. However, the Aussie has failed to gain from this data. So, it fell to 0.7300. The GDP data […]

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