Author Archive: Jeremy Parkinson
The US Dollar Has Begun To Recoup After The Fall On Friday
On Friday, the US dollar fell against the major currencies due to the publication of weak reports. According to the report on the activity in the non-agricultural sector of the US, 148,000 jobs were created against the forecasted value of 190,000 new jobs. Despite weak reports on the labor market, experts’ forecasts concerning the increase […]
EUR/USD: After Losing 1.20, What’s Next?
EUR/USD lost the 1.20 level. While it hasn’t been able to regain it, the pair isn’t falling too fast either. What’s next? Here are four opinions. Here is their view, courtesy of eFXnews: EUR/USD: ‘Beware Of Bull Trap Risks’: Key Levels To Watch – BofAML Bank of America Merrill Lynch Research discusses EUR/USD technical outlook […]
I Was Wrong… And I Paid For It
In 2016, I predicted that if Donald Trump won the presidency, the stock market would sell off hard. My reasoning was that the market doesn’t like uncertainty, and Trump is anything but predictable. I argued that late-night tweets and rash decisions wouldn’t be good for the stock market. Well, in the words of Arthur Fonzarelli, “I was wrrrrr – […]
EURUSD: Euro Gets A Foothold Beneath 1.20
Previous: On Monday the 8th of January, trading on the euro/dollar pair closed down. The euro dropped to the 1.1956 mark. Sellers came out to play as the European session opened and managed to bring the price back down below 1.20 by closing time. The US dollar rose across the board. In addition to the technical […]
Gold Price Chart Hints At Topping As Crude Oil Eyes API, EIA Reports
Marquee commodities did not find sufficient inspiration for trend development on the first day of the trading week. Gold prices marked time, unmoved by the day’s offering of Fed-speak and seemingly waiting for Friday’s US inflation and retail sales data before committing one way or another. Crude oil prices edged up a bit but ultimately failed to sustain momentum as traders […]
Consensus Likely Too Conservative On US Economic Growth For 2018
The bull is likely to remain intact through 2018 — if not 2019 — based on the global growth outlook and leading indicators. That’s the outlook from Neil Dutta, Head of Economics at Renaissance Macro (or RenMac for short), where he and his award-winning team of analysts led by Jeff deGraaf provide daily and weekly updates on the […]
USDCAD Daily Analysis – Tuesday, Jan 9
USDCAD remains in the downtrend from 1.2920. As long as the price is below the falling trend line on the 4-hour chart, the bounce from 1.2355 could be treated as consolidation of the downtrend. A breakdown below 1.2355 could trigger further downside movement to 1.2200 area. On the upside, a breakout of 1.2449 resistance will […]
Gold: Trades In Narrow Range
Gold prices ended Monday slightly higher after a quiet session. XAU/USD initially headed lower, weighed down by a stronger dollar, but it was able to hold above the support at $1316. World stock markets were mostly firmer and the euro fell against the greenback. From a chart perspective, the bulls still have the near-term technical […]
EURNZD Extends Bearish Move Below 1.6804 As Expected
The growing demand for emerging currencies following the weaker than expected U.S. job data and the surge in global commodity prices bolstered commodity sensitive currencies like the Kiwi to a three-month high against the Euro common currency. The EURNZD dropped 841 pips from a 38-month high of 1.7480 to 1.6640 as previously projected, suggesting that rising commodity […]
