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Archives by Year:
BYD’s Record Sales, Global Footprint Face Tariff Threats From EU And Canada
In July 2024, BYD achieved a significant milestone by setting a new record for new energy vehicle (NEV) sales.The company sold 342,383 NEVs, marking a robust 30% increase from the previous year. This impressive performance underscores BYD’s growing dominance in the global electric vehicle market.The head of General Motors Canada has publicly supported the imposition […]
Week Ahead: Price Action Might Be More Important Than Data, Barring US CPI Surprise
There is no need to debate whether it was tightening by the Bank of Japan or the fourth consecutive rise in the US unemployment rate that spurred the dramatic market reaction at the start of last week. It seems reasonable that both played a role. And the dramatic unwinding of short yen positions, which appeared […]
Canadian Dollar Stumped By Lopsided Labor Data
The Canadian Dollar (CAD) rounded out the trading week by holding onto a 1.5% gain against the US Dollar after a frothy trading week gave way to a flattened Friday session. The Canadian Dollar struggled to find directional momentum during the week’s final market window as markets take a breather and await the next round of key […]
AUD/JPY Price Analysis: Bearish Bias Subdued, Indicators Hint At Consolidation Phase
In Friday’s session, the AUD/JPY pair declined by 0.65% to 96.45, extending its recent downward trajectory. Despite this move lower, technical indicators are showing signs of a potential shift in market sentiment.The Relative Strength Index (RSI) has moved out of the oversold territory below 30 and is currently hovering around 33. This suggests that the AUD/JPY is […]
USD/JPY Price Forecast: Drops Below 147.00 As Downtrend Resumes
The USD/JPY retreats after failing to surpass the 148.00 resistance and extends its losses below the 147.00 mark, snapping three days of gains. At the time of writing, the major trades at 146.58, diving 0.48%. USD/JPY Price Forecast: Technical outlookOn Thursday I wrote, “the USD/JPY is bearishly biased despite registering a recovery that saw the pair […]
Technical Market Report For August 10, 2024
The good news is: Seasonality for the coming week has been positive. The NegativesThe first chart covers the last 6 months showing the NASDAQ composite (OTC) in blue and a 10% trend (19 day EMA) of NASDAQ new highs (OTC NH) in green. Dashed vertical lines have been drawn on the 1st trading day of […]
Forex And Cryptocurrency Forecast For August 12 – 16
EUR/USD: “Black Monday” Following “Grey Friday”● The past week did not begin on Monday as usual but rather on… Friday. More precisely, the key event that shaped the dynamics of the dollar was the release of US labour market data on Friday, 2 August, which caused turmoil in the markets. The US Bureau of Labour […]
The Market Crash Heard Around The World
As noted last week, the correction continued. As noted:“While the correction has been quite normal, Friday’s break of the 50-DMA suggests the correctional process continues. As we discussed in June and July, a 5-10% correction was likely, and we are in the middle of that process. The market is getting decently oversold, and we are […]
EUR/USD Churns After A Week Of Directionless Weight-Shifting
EUR/USD finished off a sedate trading week close to where it began, trading within a tight range of slightly more than 1%. Fiber tried to spark a fresh bid back above the 1.1000 handle on Monday, but price spent the rest of the week easing back into familiar technical levels.Coming up next week, investors will […]
GBP/USD Price Forecast: Inches Higher, Yet Struggles At 1.2785
The Pound Sterling continued to register gains on Friday yet found some resistance at 1.2773, shy of hitting the 50-day moving average (DMA) at 1.2785, which, if cleared, could pave the way for further upside. However, the GBP/USD retreats somewhat and registers modest gains of 0.11%, trading at 1.2760. GBP/USD Price Forecast: Technical outlookAfter seesawing through […]
