This week's US inflation numbers might do little to disrupt markets following the deep rally of last week. Yet, demand at this week's 3-, 10- and 30-year US Treasury auctions will be critical to understanding whether investors' appetite remains intact despite lower yields. In Europe, the Eurozone Sentix and German...
Crypto Weekly: Regulation, banks, and mayors seek attention
The crypto market has undoubtedly been the subject of growing attention the past year, which has arguably placed the industry in the eyes of regulators, banks, and surprisingly US mayors.Biden administration urges regulation on stablecoins For some time, we have discussed potential stablecoin regulation, and the impact it could have...
EURUSD is on a bearish momentum! 8th Nov 2021
Prices abiding to a bearish trendline and are on a bearish momentum. We see a potential short from our Pivot entry at 1.15895 in line with 61.8% Fibonacci extension and 38.2% Fibonacci retracement towards our Take Profit at 1.14224 which is an area of Fibonacci confluences. Technical indicators are showing...
USDJPY potential for dip | 8th Nov
Price has recently broke out from the triangle and is currently retesting sell entry price of 113.620 which is also 38.2% Fibonacci retracement . Price can then potentially dip to the first support level of 111.977 which is also our graphical overlap support level . Our bearish bias is supported...
AUDCHF bearish momentum | 8th Nov 2021
Price broke past the ascending trendline support, signifying a bearish momentum. We can expect price to drop from the pivot level in line with 23.6% Fibonacci retracement towards the take profit level in line with 61.8% Fibonacci retracement and 161.8% Fibonacci projection . Our bearish bias is further supported by...
FX Update: As we await USD status, JPY poking higher on plunging long yields.
The JPY is challenging speculative positioning and rallying as global long safe haven yields have dropped sharply, particularly in the US on Friday after a nominally strong October jobs report. Elsewhere, the USD status is in focus this week ahead of the unknown, but imminent timing of the Fed Chair...
COT: Energy and metals sold ahead of OPEC+ and FOMC meetings
The COT reports published weekly by the US CFTC highlight futures positions and changes made by hedge funds across commodities, forex and financials during the latest reporting week to last Tuesday, November 2. A week where major US stock benchmarks reached fresh all-time highs just a day before the FOMC...
What are US treasuries telling us?
The nominally strong US jobs report on Friday was unable to sustain the US dollar rally, but more curiously, saw long treasuries rallying sharply and driving yields at the long end of the US yield curve sharply lower - a development that demands the most attention this week for follow...
Market Quick Take – November 8, 2021
Global equity markets are off to a shaky start this week. In the US, the House passed the infrastructure spending bill already passed by the Senate, but it is of modest size measured in terms of new spending. Despite a strong US jobs report on Friday, the US dollar is...
WCU: Commodities hold their breath on China growth concerns
The commodity sector continues to consolidate resulting in the Bloomberg Commodity Index trading lower for a third straight week. Investors have become more risk adverse given the amount of incoming data pointing to pausing growth expectations, most notably in China. Weakness was led by industrial metals and a crude oil...