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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

OPEC talks hit an impasse as Iraq balks

Iraq says it won't be able to hit output target until the end of July] Russia and Saudi Arabia have agreed to extend output curbs for another month but on the condition that everyone else participate.
Jun 4, 2020 Read more

Nasdaq rotates back lower. New lows for the day.

Looks to test hourly trend line The Nasdaq index moved to the highest level since, but has taken a turn back to the downside in the last hour and in the process looks to test day trend line on the hourly chart at 9616 area. The low for the day just reached 9622.988.  
Jun 4, 2020 Read more

Florida coronavirus numbers sent a shudder through markets

COVID-19 cases up 2.4% vs 7-day avg of 1.6%. I the case for buying everything right now and I also laid out the risk: COVID-19 cases spiking. laid out Florida today reported 1317 new COVID-19 cases and that's a 2.4% rise in total cases compared to the 7-day average of 1.6%. That's the largest jump since mid-April
Jun 4, 2020 Read more

The simple case for buying everything right now

Suspend your disbelief and embrace the free-money future The enthusiasm in markets at the moment is bordering on euphoria. Retail money is pouring into the flavour-of-the-day and now FOMO is taking over more broadly.
Jun 4, 2020 Read more

EURUSD squeezes higher

Motoring on the bullish highway The EURUSD has squeezed higher and in the process has moved into the open road on the bullish highway.  Looking at the daily chart, the price is taking on the spike higher from March which ultimately took the price up to a high of 1.14918. What other levels are in the way
Jun 4, 2020 Read more

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