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3

NZD was also strong

The yen was the top performer this week while the kiwi lagged. On its face, that fits in nicely with the 'risk off' theme but the old risk on/off paradigm hasn't applied for a long time. Neck-and-neck with the yen as the top performer was the New Zealand dollar.
NZD was also strong
Taking a look at CAD/JPY, there isn't much in the weekly chart. It was the second week of declines but it's still comfortably within the range since June.

Do note that the pair failed twice at 82.00 and that points to a downside bias.
CADJPY

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Fri 18 Sep 2020 20:20:06 GMT

2

ForexLive Americas FX news wrap: Dollar climbs as equities slump

Forex news for North American trading on September 18, 2020: Markets: - Gold up $6 to $1950 - WTI crude oil down 4 cents to $40.93 - US 10-year yields up 0.6 bps to 0.695% Quadruple witching was the buzz on Friday and selling equities was the trade. They opened higher initially but fell shortly after the open for a time it got ugly before a late bounce.

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ForexLive Americas FX news wrap: Dollar climbs as equities slump


//az705044.vo.msecnd.net/20200918/2020-09-18_16-13-42.png Adam Button
Fri 18 Sep 2020 20:20:06 GMT
Author: Adam Button
Category: News
2


Forex news for North American trading on September 18, 2020: Markets: - Gold up $6 to $1950 - WTI crude oil down 4 cents to $40.93 - US 10-year yields up 0.6 bps to 0.695% Quadruple witching was the buzz on Friday and selling equities was the trade. They opened higher initially but fell shortly after the open for a time it got ugly before a late bounce.

Asset 24 View More
Fri 18 Sep 2020 20:05:12 GMT

1

Major indices close in the red. S&P and NASDAQ post the 3rd straight losing week

S&P leads the way to the downside today The final numbers are showing: For the week, each of the major indices close lower:

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Major indices close in the red. S&P and NASDAQ post the 3rd straight losing week


Greg Michalowski
Fri 18 Sep 2020 20:05:12 GMT
Category: News
1
S&P leads the way to the downside today The final numbers are showing: For the week, each of the major indices close lower:

Asset 24 View More
Fri 18 Sep 2020 19:38:31 GMT

CFTC commitments of traders: Traders trim some of the EUR longs

Weekly commitments of traders data for the week ending September 15, 2020 - EUR long 179K vs 198K long last week. Longs decreased by 19K - GBP long 2K vs 13k long last week. Longs decreased by 11K

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CFTC commitments of traders: Traders trim some of the EUR longs


Greg Michalowski
Fri 18 Sep 2020 19:38:31 GMT
Category: News
0
Weekly commitments of traders data for the week ending September 15, 2020 - EUR long 179K vs 198K long last week. Longs decreased by 19K - GBP long 2K vs 13k long last week. Longs decreased by 11K

Asset 24 View More
Fri 18 Sep 2020 19:34:10 GMT

London mayor says it's increasingly likely that additional measures will be required

Comments from the London mayor One lockdown is tough, but people endure. A second lockdown is depressing. Now I don't think we're going to see a March-style lockdown anywhere but I wouldn't feel too great about being a pub owner.

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London mayor says it's increasingly likely that additional measures will be required


Adam Button
Fri 18 Sep 2020 19:34:10 GMT
Author: Adam Button
Category: News
0
Comments from the London mayor One lockdown is tough, but people endure. A second lockdown is depressing. Now I don't think we're going to see a March-style lockdown anywhere but I wouldn't feel too great about being a pub owner.

Asset 24 View More
Fri 18 Sep 2020 19:14:56 GMT

1

Trump says there will be enough vaccines for all Americans by April

Trump comments in a press conference In other political news, France's finance minister has COVID. He says he has no symptoms.

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Trump says there will be enough vaccines for all Americans by April


Adam Button
Fri 18 Sep 2020 19:14:56 GMT
Author: Adam Button
Category: News
1
Trump comments in a press conference In other political news, France's finance minister has COVID. He says he has no symptoms.

Asset 24 View More
Fri 18 Sep 2020 19:07:02 GMT

2

China has recovered but it's the wrong kind of recovery

Industrial production is driving the rebound China is an interesting counter-point to many ideas about the global economy right now. It's essentially a COVID-free country and an entirely open economy.

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China has recovered but it's the wrong kind of recovery


//az705044.vo.msecnd.net/20200918/2020-09-18_14-42-40.png Adam Button
Fri 18 Sep 2020 19:07:02 GMT
Author: Adam Button
Category: News
2
Industrial production is driving the rebound China is an interesting counter-point to many ideas about the global economy right now. It's essentially a COVID-free country and an entirely open economy.

Asset 24 View More
Fri 18 Sep 2020 18:09:52 GMT

NZDUSD trades to highest level since April 2019, but backs off

The 0.6780-0.6790 ceiling area was broken but only barely. The NZDUSD traded to its highest level since April 3, 2019, getting above a ceiling area between 0.67803 and 0.6790. That's the good news for the buyers. The not so good news is that the price can only extend to 0.67969 before rotating back to the downside. We currently trade just below that swing area at 0.6779.  

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NZDUSD trades to highest level since April 2019, but backs off


//az705044.vo.msecnd.net/20200918/2020-09-18_9-32-19.jpg Greg Michalowski
Fri 18 Sep 2020 18:09:52 GMT
Category: Technical Analysis
0
The 0.6780-0.6790 ceiling area was broken but only barely. The NZDUSD traded to its highest level since April 3, 2019, getting above a ceiling area between 0.67803 and 0.6790. That's the good news for the buyers. The not so good news is that the price can only extend to 0.67969 before rotating back to the downside. We currently trade just below that swing area at 0.6779.  

Asset 24 View More
Fri 18 Sep 2020 18:06:40 GMT

AUDUSD continues choppy price action

A week full of ups and downs The AUDUSD is moving back lower in what is a continuation of the choppy ups and downs seen in trading this week (and going back to September 9).

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AUDUSD continues choppy price action


//az705044.vo.msecnd.net/20200918/2020-09-18_10-47-46.jpg Greg Michalowski
Fri 18 Sep 2020 18:06:40 GMT
Category: Technical Analysis
0
A week full of ups and downs The AUDUSD is moving back lower in what is a continuation of the choppy ups and downs seen in trading this week (and going back to September 9).

Asset 24 View More
Fri 18 Sep 2020 17:54:23 GMT

6

Trump will say the US is on track for 100m vaccine doses by year end

Politico report Politico's Jake Sherman says that Trump will say the US is on track for 100m vaccine doses distributed by year end. Given that all the anti-vaxxers out there, that would take care of a big chunk of the US population.

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Trump will say the US is on track for 100m vaccine doses by year end


Adam Button
Fri 18 Sep 2020 17:54:23 GMT
Author: Adam Button
Category: News
6
Politico report Politico's Jake Sherman says that Trump will say the US is on track for 100m vaccine doses distributed by year end. Given that all the anti-vaxxers out there, that would take care of a big chunk of the US population.

Asset 24 View More
Fri 18 Sep 2020 17:43:20 GMT

2

GBP: Targeting GBP/USD at 1.25 & EUR/GBP at 0.96 in Q1'21 - SocGen

SocGen on sterling Societe Generale Research discusses GBP outlook and maintains a bearish bias especially against the JPY in the near-term. ". That's a 5% fall in the value of sterling in the next few months which will probably see the real effective rate fall to its lowest level ever at some point. Sterling's biggest source of support is that it is already so cheap and sentiment is already so bearish, about the currency as well as the economic and political outlook. It's already weaker than relative growth might suggest, or than relative rates might warrant. What it continues to lack, above anything else, is any kind of catalyst for a significant bounce," SocGen adds. 

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GBP: Targeting GBP/USD at 1.25 & EUR/GBP at 0.96 in Q1'21 - SocGen


//az705044.vo.msecnd.net/20200918/gbpjpy-d.png Adam Button
Fri 18 Sep 2020 17:43:20 GMT
Author: Adam Button
Category: News
2
SocGen on sterling Societe Generale Research discusses GBP outlook and maintains a bearish bias especially against the JPY in the near-term. ". That's a 5% fall in the value of sterling in the next few months which will probably see the real effective rate fall to its lowest level ever at some point. Sterling's biggest source of support is that it is already so cheap and sentiment is already so bearish, about the currency as well as the economic and political outlook. It's already weaker than relative growth might suggest, or than relative rates might warrant. What it continues to lack, above anything else, is any kind of catalyst for a significant bounce," SocGen adds. 

Asset 24 View More
Fri 18 Sep 2020 17:32:07 GMT

5

Cable skids to the lows of the day as dollar strengthens on risk aversion

Dollar strength across the board The S&P 500 has just fallen through the September bottom to a six week low. That's led to a broad bid in the US dollar on risk aversion.

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Cable skids to the lows of the day as dollar strengthens on risk aversion


//az705044.vo.msecnd.net/20200918/cable-d.png Adam Button
Fri 18 Sep 2020 17:32:07 GMT
Author: Adam Button
Category: News
5
Dollar strength across the board The S&P 500 has just fallen through the September bottom to a six week low. That's led to a broad bid in the US dollar on risk aversion.

Asset 24 View More
Fri 18 Sep 2020 17:20:57 GMT

1

France daily COVID cases jump above 13,000 to highest since the lockdown

French virus cases hit a post-lockdown high The risks of another lockdown in France are growing with cases up 13,215 in the past 24 hours. The good news is that fewer people are being hospitalized or dying. The issue is that we're only at the leading edge of cold-and-flu season and the school year has just started.

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France daily COVID cases jump above 13,000 to highest since the lockdown


Adam Button
Fri 18 Sep 2020 17:20:57 GMT
Author: Adam Button
Category: News
1
French virus cases hit a post-lockdown high The risks of another lockdown in France are growing with cases up 13,215 in the past 24 hours. The good news is that fewer people are being hospitalized or dying. The issue is that we're only at the leading edge of cold-and-flu season and the school year has just started.

Asset 24 View More
Fri 18 Sep 2020 17:03:03 GMT

Baker Hughes US oil rig count 179 vs 180 prior

Oil and gas rigs from Baker Hughes I'm more interested by the rise in gas rigs. There was a pop in gas prices in late August and that might have put some drillers back to work. Unfortunately that bounce has popped with gas back under $2 today.

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Baker Hughes US oil rig count 179 vs 180 prior


Adam Button
Fri 18 Sep 2020 17:03:03 GMT
Author: Adam Button
Category: News
0
Oil and gas rigs from Baker Hughes I'm more interested by the rise in gas rigs. There was a pop in gas prices in late August and that might have put some drillers back to work. Unfortunately that bounce has popped with gas back under $2 today.

Asset 24 View More
Fri 18 Sep 2020 16:57:12 GMT

6

There is a parallel to June in the equity market selloff

It's turning into a rough day The S&P 500 is nearing the September low as the decline extends to 37 points on the day. We're just 10 points from the Sept bottom of 3310. A break would be a six-week low.

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There is a parallel to June in the equity market selloff


//az705044.vo.msecnd.net/20200918/2020-09-18_12-51-59.png Adam Button
Fri 18 Sep 2020 16:57:12 GMT
Author: Adam Button
Category: News
6
It's turning into a rough day The S&P 500 is nearing the September low as the decline extends to 37 points on the day. We're just 10 points from the Sept bottom of 3310. A break would be a six-week low.

Asset 24 View More
Fri 18 Sep 2020 16:10:39 GMT

22

Pelosi: Working out details on stopgap funding bill. Staying at $2.2 trillion for stimulus

House Speaker the speaking on Bloomberg television - Working out details on stopgap funding bill - Hopes to have stopgap today, bring to floor next week - Still negotiating the duration of stopgap funding

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Pelosi: Working out details on stopgap funding bill. Staying at $2.2 trillion for stimulus


Greg Michalowski
Fri 18 Sep 2020 16:10:39 GMT
Category: News
22
House Speaker the speaking on Bloomberg television - Working out details on stopgap funding bill - Hopes to have stopgap today, bring to floor next week - Still negotiating the duration of stopgap funding

Asset 24 View More
Fri 18 Sep 2020 16:04:34 GMT

1

Fed Survey: Families doing better in July vs April

Fed releases latest household survey trends

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Fed Survey: Families doing better in July vs April


Greg Michalowski
Fri 18 Sep 2020 16:04:34 GMT
Category: Central Banks
1
Fed releases latest household survey trends

Asset 24 View More
Fri 18 Sep 2020 15:43:48 GMT

2

European shares end the session lower. Spain's Ibex leads the way lower

German DAX tries to move back to positive on the year, but fall short this week The provisional closes are showing: For the week,

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European shares end the session lower. Spain's Ibex leads the way lower


Greg Michalowski
Fri 18 Sep 2020 15:43:48 GMT
Category: Technical Analysis
2
German DAX tries to move back to positive on the year, but fall short this week The provisional closes are showing: For the week,

Asset 24 View More
Fri 18 Sep 2020 15:34:31 GMT

1

USDCAD trades near neutral area as the buyers and sellers figure out the next move

The buyers took their shot this week The USDCAD trades above and below its 100/200 hour MAs which are near converged at 1.3179.  That comes after the pair peaked at 1.3200. That was just short of a swing area between 1.32015 and 1.32067. 

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USDCAD trades near neutral area as the buyers and sellers figure out the next move


//az705044.vo.msecnd.net/20200918/2020-09-18_8-10-02.jpg Greg Michalowski
Fri 18 Sep 2020 15:34:31 GMT
Category: Technical Analysis
1
The buyers took their shot this week The USDCAD trades above and below its 100/200 hour MAs which are near converged at 1.3179.  That comes after the pair peaked at 1.3200. That was just short of a swing area between 1.32015 and 1.32067. 

Asset 24 View More
Fri 18 Sep 2020 15:31:18 GMT

1

New York Fed Q3 Nowcast slips to 14.3% from 15.6%

Weekly tracker from the New York Fed It's probably still too early to be speculating about the numbers on Q3 GDP but the latest estimate from the New York Fed is +14.3%. That's not an annualized number and would still represent a monumental jump in growth.

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New York Fed Q3 Nowcast slips to 14.3% from 15.6%


//az705044.vo.msecnd.net/20200918/nowcast.png Adam Button
Fri 18 Sep 2020 15:31:18 GMT
Author: Adam Button
Category: News
1
Weekly tracker from the New York Fed It's probably still too early to be speculating about the numbers on Q3 GDP but the latest estimate from the New York Fed is +14.3%. That's not an annualized number and would still represent a monumental jump in growth.

Asset 24 View More
Fri 18 Sep 2020 15:27:43 GMT

Trade forex CFDs with ForexTB

A look at the unique trading experience at ForexTB Whether you are new to investing or not, choosing a broker to trade online with, can be a difficult decision. ForexTB have built a trading model based on what they know is important to investors, it comprises mainly on education and customer support along with features that solidify a long-term trading plan.

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Trade forex CFDs with ForexTB


//az705044.vo.msecnd.net/20200918/tb1.png Forex Live
Fri 18 Sep 2020 15:27:43 GMT
Author: Forex Live
Category: News
0
A look at the unique trading experience at ForexTB Whether you are new to investing or not, choosing a broker to trade online with, can be a difficult decision. ForexTB have built a trading model based on what they know is important to investors, it comprises mainly on education and customer support along with features that solidify a long-term trading plan.

Asset 24 View More
Fri 18 Sep 2020 14:51:31 GMT

1

GBPUSD higher on the week and above hourly MAs, but a ceiling is keeping a lid on the pair

Key support at 1.2916-25 today and going forward The GBPUSD trended down from the September 1 swing high at 1.34816 to the September 11 low from last Friday at 1.27614.  That move of 720 pips went a long way in a short period of time.  A correction was in order.

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GBPUSD higher on the week and above hourly MAs, but a ceiling is keeping a lid on the pair


//az705044.vo.msecnd.net/20200918/2020-09-18_7-14-25.jpg Greg Michalowski
Fri 18 Sep 2020 14:51:31 GMT
Category: Technical Analysis
1
Key support at 1.2916-25 today and going forward The GBPUSD trended down from the September 1 swing high at 1.34816 to the September 11 low from last Friday at 1.27614.  That move of 720 pips went a long way in a short period of time.  A correction was in order.

Asset 24 View More
Fri 18 Sep 2020 14:45:19 GMT

1

Tropical storm Wilfred forms in the mid-Atlantic

Wilfred will track towards the Caribbean It's going to be more than a week until Wilfred becomes a factor but it's current track takes it towards the Caribbean and Florida.

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Tropical storm Wilfred forms in the mid-Atlantic


//az705044.vo.msecnd.net/20200918/wilfred-tropical-storm.png Adam Button
Fri 18 Sep 2020 14:45:19 GMT
Author: Adam Button
Category: News
1
Wilfred will track towards the Caribbean It's going to be more than a week until Wilfred becomes a factor but it's current track takes it towards the Caribbean and Florida.

Asset 24 View More
Fri 18 Sep 2020 14:33:09 GMT

5

Could Trump start another trade war this fall?

The China-US dynamic isn't improving As tensions between the U.S. and China rise, President Donald Trump has signed an executive order that will effectively ban Chinese social networking app TikTok from the U.S. market, unless it is bought by a U.S. buyer.

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Could Trump start another trade war this fall?


Forex Live
Fri 18 Sep 2020 14:33:09 GMT
Author: Forex Live
Category: News
5
The China-US dynamic isn't improving As tensions between the U.S. and China rise, President Donald Trump has signed an executive order that will effectively ban Chinese social networking app TikTok from the U.S. market, unless it is bought by a U.S. buyer.

Asset 24 View More

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