Developing story USD/CAD has found demand on a monthly support area which gives rise to an opportunity to target resistance as the five-month consecutive waterfall trend starts to correct. The following flow of charts illustrates how the trade setup has been determined and why it offers a high proba

Dubai's non-oil private sector extended the upturn in August as business conditions continued to recover after the Covid-19 related lockdown, survey data from IHS Markit showed Wednesday. The Purchasing Managers' Index came in at 50.9 in August, but down from 51.7 in July. However, the score remai

USD/CAD extends bounce off 1.3037 to again attack 100-HMA immediate resistance. Sustained trading beyond one-week-old falling trend line, receding bearish power of the MACD suggest further pullback. Bears will wait for fresh monthly low before taking entries. USD/CAD traders jostle around 1.3050 as

The dollar printed its lowest point Tuesday since May of 2018. The dollar dropped pretty steeply in July through August 6th.  There has been a change in character in the dollar since August 6th.  Since then the dollar has leveled off which has allowed the 10 day MA to flatten.  So in retrospect I b

The Jackson Hole meeting later today will be one of the most important meetings of recent times where major central bankers will gather together to define policies going forward particularly in terms of inflation/ deflation dynamics. Unfortunately the meeting is going to be online. This has been a k

USD/CAD eases from 1.3227 while defying the bounce off late-January lows. Short-term horizontal resistance questions the break of an eight-day-old falling trend line. Sellers may attack 1.3100, bulls will have 100-bar SMA as an additional upside barrier. USD/CAD fails to keep the upside momentum de

Japan will on Tuesday see June results for consumer prices, highlighting a modest day for Asia-Pacific economic activity. Overall inflation is expected to have risen 0.2 percent on year after adding 0.1 percent in May. Core CPI is pegged at -0.1 percent after falling 0.2 percent in the previous mont

The Australian dollar rose slightly against the US dollar as traders reacted to the improving trade numbers. According to the statistics office, the country had a record trade surplus of more than $8 billion in May, which was a $195 million increase from the previous month. This happened as exports