USDCAD fell sharply lower in this week from 1.0082 where pair formed a top of wave (c) as a part of a very tricky complex correction called an expanded flat. However, we need to respect the current price action which is looking impulsive to the downside. As such, we are tracking five waves down in wave C that could reach parity in the next few days, once corrective wave (iv) finds resistance, ideally around current 1.0100/1.0130 zone.…Continue
Added by Gregor Horvat on May 3, 2013 at 9:02am — No Comments
Continuing to dig into some Institutional Sentiment Analysis, I found this piece by Close Brothers Asset Management. Some of the analysis has already played out - an expected decline in US GDP and the Italian election but it's a decent read for a broader overview.
" Despite their good start, we remain tactically reserved on equity markets in the shorter term. Global policy makers are still addressing multiple challenges from the unresolved US Budget negotiations and continued low…Continue
Added by John E. Putman II on March 6, 2013 at 12:32am — No Comments
Overnight we have seen the Reserve Bank of Australia keep interest rates unchanged at 4.7% comments from the decision where the global economy continues to expand and that the current policy is appropriate. This saw some support for the US dollar early on Aud/$ off 80 points early on.
The UK saw the release of the…
Added by Boston Merchant Financial on June 7, 2011 at 2:03pm — No Comments
Chinese financial markets will be closed on Monday for the Dragon Boat Festival.
Markets are wary as the People's Bank of China has picked holidays or weekends to surprise on tightening steps, such as a rise in interest rates or banks' reserve requirement ratio…Continue
Added by Boston Merchant Financial on June 3, 2011 at 5:50pm — No Comments