News
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XE Market Analysis: Europe – Aug 21, 2020
The dollar’s weakening bias has resurfaced, pushing the narrow trade-weighted USD index (DXY) to a two-day low at 92.58, extending the correction from yesterday’s one-week high at 93.23. The 27-month low that was seen on Tuesday is at 92.13, and the index will need to close out today in New York below 93.10 to rack […]
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XE Market Analysis: North America – Aug 21, 2020
The dollar found a footing as EUR-USD tumbled following sub-forecast preliminary August PMI data out of the eurozone. EUR-USD printed a one-week low at 1.1784, declining from a two-day peak at 1.1883. Contrasting above-forecast PMI data out of the UK sparked specific EUR-GBP selling, too, which added weight on EUR-USD’s down phase.
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XE Market Analysis: Asia – Aug 21, 2020
Friday saw the Dollar put in a little distance from the 27-month lows seen earlier in the week. The DXY topped at 93.47 up from 92.58 overnight lows, and the trend lows of 92.13 seen on Tuesday. The Greenback found some support from the uptick in the August Markit manufacturing and services PMIs, along with […]
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USD/MXN – The Grind Continues, but Has Solid Pattern Potential
The USD hasn’t done much in the past week vs. MXN to change the outlook, but patient traders may be rewarded with a sizable move at some point soon.
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Germany 30 IG Client Sentiment: Our data shows traders are now net-long Germany 30 for the first time since Aug 14, 2020 13:00 GMT when Germany 30 traded near 12,854.80.
Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger Germany 30-bearish contrarian trading bias.
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Crude Oil Forecast for Next Week: Inaction to Turn into Action?
Crude oil has been struggling to rise for weeks, but has yet to trade off either; big resistance via multiple sources stands in the way, but price pattern may resolve soon…
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