Forex headlines for August 29, 2014: Canadian economy grew at 3.1% (annualized in Q2) vs 2.7% exp Canadian Q1 GDP revised down to 0.9% from 1.2% US PCE price index July m/m +0.1% vs +0.1% exp US consumption adj m/m … Continue reading
The S&P 500 gained 3.15% in August after a shaky start that saw the index decline as much as 1.3%. It’s the best month since February and slaps a bullish outside candle on the monthly chart.
Looks like someone just realized they needed to fill a large cable order before month end. GBP/USD up to 1.6595 from 1.6568 in seconds. Huge move in a thin market on no news? If you’re around on a Friday, that’s … Continue reading
Forex futures market speculative positioning data from the CFTC Commitments of Traders report as of the close on Tuesday August 26 2014: EUR net short 151K vs short 139K prior JPY net short 103K vs short 87K prior GBP net long 15.5K vs long 13K prior … Continue reading
The Canadian dollar was easily the best performer this week while the euro lagged once again. Technically, it doesn’t look pretty. There isn’t much support until the 100-week moving average at 1.4009 and that coincides with the Nov 2013 lows … Continue reading
It’s ECB preview season and it’s going to be a confusing one. Will Draghi announce quantitative easing on Thursday? That depends on who you ask, but it also depends on how you define QE. Some people are only defining quantitative … Continue reading
There might not be a consensus for a QE announcement next week from the ECB, MNI’s sources reporter earlier today. Recent conversations with senior Eurosystem sources suggest there probably won’t be a consensus that would allow the ECB to embark … Continue reading
The quick move down to 1.0810 and then back to 1.0843 after hitting the 55-dma could be the start of a short-term turnaround in USD/CAD. The pair is caught in a nasty squeeze/month-end churn but a close above 1.0865 would … Continue reading
The final hours of European stock trading for the month were dramatic with major indexes falling 0.75% to 1.00% and then rebounding close to unchanged in a surge of last-minute buying. German DAX -0.2% French CAC +0.1% UK FTSE flat … Continue reading
Down goes the barrier. A wave of dollar demand since the London fix has sparked a brutal whipsaw. My sense is that some traders might have been waiting for dollar-sellers in Europe to go offline before positioning for next week’s … Continue reading
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