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NZDUSD moves into swing area on daily chart

Pair returns to February break lower point The NZDUSD traded above and below a swing area defined by swing lows and highs in the 0.6445 to 0.6486 area from May 2019 to February 2020 (see the price action above and belwo the yellow area on the chart below.  
Jun 4, 2020 Read more

Lighthizer: Report on China not honoring soybean buys is false

Lighthizer upbeat on China deal This is a good sign for risk trades for now. In the bigger picture, the US and China aren't heading towards any kind of reconciliation and the election will be all about who is toughest on China.
Jun 4, 2020 Read more

EUR/USD continues the incredible breakout -- eyes the session high

EUR/USD with a classic breakout The breakout in the euro has been incredible -- a 9-day rally. The break of the 1.1000/20 range has led to non-stop buying and today has been the best day yet. The bears attempted to sell EUR/USD after the statement and again after Lagarde's press conference but now the pair is
Jun 4, 2020 Read more

BOC's Gravelle: Clear signs that credit is flowing and financial system is working well

Comments from the BOC Deputy She reiterated the commitment to continuing large-scale asset purchases until the economic recovery is underway but it sounds like she's starting to tee-up the exit.
Jun 4, 2020 Read more

Trump will resume in-person campaigning next week - report

ABC report Joe Biden has been out campaigning in a mask but Trump has been reluctant to wear one in public. I can't imagine he's going to be out there shaking hands with strangers without a mask on so I'm not sure how this is going to work. Anyway, never a dull moment.
Jun 4, 2020 Read more

USDCHF trades to a new session lows and looks to test the 2020 midpoint

50% midpoint of the year comes in at 0.95371. The USDCHF is trading to a new session low at 0.95447 and in the process is looking to test the 50% midpoint of the 2020 low to high trading range at 0.95371.  I would expect some pause near the level with stops on a break. The next
Jun 4, 2020 Read more

Pompeo to warn against fraudulent accounting of China-based companies in speech

US Secretary of State will talk about China-based companies Reuters reports that US Secretary of State Mike Pompeo will warn later today about the accounting practices of China-based companies. In terms of actions, he will say that Nasdaq's decision to tighten listing rules for these companies is a model for other exchanges.
Jun 4, 2020 Read more

US CDC reports 14,676 coronavirus cases yesterday vs 24,955 a day earlier

The latest CDC data For bank trade ideas, check out eFX Plus
Jun 4, 2020 Read more

USDCAD skims the 200 day MA (within 4 pips today) and finds buyers.

Awaits the next shove  The USDCAD got with 16-20 pips of the 200 day MA on Tuesday and Wednesday. That was close, but not exactly skimming the target level. 
Jun 4, 2020 Read more

EUR: Positive momentum persists but caution in chasing it higher - MUFG

The euro is higher 9 days in a row " Merkel's popularity is on the rise again following Germany's handling of COVID-19 but Merkel is also on the way out and hence her influence domestically is still not what it was. The haggling in Germany this week is an indication of what lies ahead in Germany
Jun 4, 2020 Read more

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