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Australia just released another stronger than expected jobs report. Could this be enough to stimulate a double top break for GBPAUD? Before we continue, yesterday’s watchlist from ICYMI reviewed the USDCAD trend channel ahead of the Canadian CPI release. Be sure to check if it’s still a valid trade! And now for the headlines that have rocked the markets in recent trading sessions:   Fresh headlines and economic data: The PBOC cut lending rates to boost credit supply and growth Australia’s economy added 64.8k jobs in December versus 60k forecast, 366.1k previously Australia’s unemployment rate improved to 4.2% from 4.6% […]

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I have a few long term range setups on my radar for today and one of them looks like a big breakout. Here are the levels I’m watching closely: Looks like the range assist has held up really well here! EUR/AUD could be on course from here to test its range resistance at 1.5850 minor psychological level. Will it last? I’m getting mixed signals from technical indicators for now as the 100 SMA is below the 200 SMA while the stochastic is trending up. On the other hand, the gap between the moving averages is narrowing, so a bullish crossover […]

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Are you still on track to reach your trading goals? Are your trading systems living up to their back-and-forward testing potential? If you’re frustrated with your performance, don’t worry. You may be forgetting a few basic truths about trading. Let’s examine some truths that not many traders will tell you, but which will help you in your trading journey:   1. It takes money to make money. While many traders have successfully started small, they have also had to deal with pitfalls associated with trading from small accounts. For example, trading oversized and overly leveraged positions carries greater risks of […]

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How can you not start the daily and weekly recaps by not talking about the hits taken by US stocks? For the third day in a row, major indices close at or near their lows. The Dow and S&P had their worst week since October 20, 2020 (the Dow fell 1600 points or -4.57%). The S&P fell -5.68% this week. The Russell 2000 closed at its 52-week low. The NASDAQ index is down 15.1% from its all-time high reached in November and is trading at its lowest level since June 2021. On the week, the NASDAQ fell -7.53%. Technical levels […]

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GBP/JPY was down 0.7% on Friday, falling from above 155.00 to around 154.00. Risk-off flows and weak UK data weakened sterling, while safe haven demand and lower global bond yields strengthened the yen. GBP/JPY fell sharply on Friday and sharp falls in global stocks and commodities weighed on risk-sensitive currencies like sterling, while a sharp fall in global bond yields on safe-haven demand boosted the rate-sensitive yen. Much worse-than-expected UK retail sales for December made matters worse for the GBP and while it wasn’t the worst-performing G10 currency on the day, it fell 0.7% against the yen, which was the […]

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European equity markets are sold out across the board, as global equity markets came under pressure from rising yields and heightened expectations, hitting technology stocks in particular. In this environment, strong data releases only add pressure rather than lift sentiment on stocks and the GER30 and UK100 are currently down -1.2% and -0.8% respectively. Core EGBs were little changed, with the 10-year Bund yield falling -0.4 basis points to -0.033% after the paper erased earlier losses. the German 10-year-old clearly preparing to break negative territory for first time since early 2019, but not quite as far as it seems. the […]

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The weakest start to the new year since 2009 for the US Treasury market continues to undermine equities and support the USD as yields continue to rise.   The Market Week – January week 3 The markets are now in focus inflation and the central banks. Treasuries continue to make a stormy start to 2022 and the move in yields is the main driver of market sentiment. The equity markets were rocked by the expected rise in interest rates and a disappointing start to the Q4 reporting season. CPI rates have hit 30-year highs. Employment growth is also making headlines; […]

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Equity markets fell again (Nasdaq -1.15%) Financial and technology companies led the decline, U.S. dollar slipped like Yields – slides from highs, oil higher again, gold The day’s asset rose to $1842, helped by more hot inflation data from Germany, UK and Canada and strong US housing data. China cut mortgage rates and lifted Asian markets (Nikkei +1.11%). Lagarde: The ECB has reasons NOT to act as quickly as the FED. Biden reinforced rhetoric about Russia and Ukraine, in which he predicted Russia would “make a move.” Johnson is staying in the UK for the time being. U.S. DOLLAR (USDIndex […]

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Microsoft Microsoft, the second largest company on Wall Street by market capitalization (after Apple) and developer of the Windows operating system and office suite, is expected to report its results for the quarter ended December 2021 Tuesday, January 25th, after market close. Zacks forecast sales for the quarter at $50.32 billion, above that $43.08 billion in the same period last year (up 16.82%), while the return per share is expected $2.29, over $2.03 in the same quarter of the previous year (an increase of 12.81%.) For revenue by product line for the upcoming quarter Amy Hood Microsoft Chief Financial Officer […]

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The BoC and FED Policy meetings and press briefings are central bank highlights this week. Rising inflation and slowing economic growth from robust Q4 pace could be exacerbated by Omicron proliferation and renewed mitigation measures, not to mention the impact of the move away from monetary easing and fiscal support. How central banks deal with this dynamic will keep markets jittery. These factors will continue to keep markets volatile next week. Additionally, the big dose of global data releases includes next week global PMIs, Australian CPI, US GDP and PCE.   Monday – January 24, 2022 Services & Manufacturing PMI […]