Pound remains weak on poor retail sales in May
The outcome of the UK election continues to weigh on the Pound, which has now turned to be the worst performing currency in June. Ironically, during March-May period, the Pound was one of the best performing currencies. While the Pound
Read MorePound signals uptrend on strong CPI data
On May 29th, a predicted a downtrend in the GBP/USD pair and an interest to go short at 1.2840 levels, with 1.2600 as the target. Additionally, interest to purchase a put option as well. A week later, the GBP/USD pair
Read MoreYen turns weak on poor Q1 GDP growth
The Euro dollar fell earlier this week due to a rumor that the ECB is about to cut inflation forecasts. A decline in the German factory orders in April also aided the weakness. While the Euro declined, the Yen appreciated
Read MoreCanadian dollar signals uptrend on strong GDP data
Considering the improved outlook for oil and reasonably strong Canadian retail sales in March, on May 19th, we had stated our intention to go short in EUR/CAD pair at 1.5150, with a target of about 1.4880. We had also expressed
Read MoreDecline in US jobless claims strengthens Greenback
The NZD/USD pair had a decent rally of about 100 pips in the past ten days. Strong retail sales data and dairy prices kept the Kiwi dollar strong. The Greenback, on the other hand, was weak due to poor CPI
Read MoreLoonie up on Saudi-Russia oil production cut deal
A sharp decline in the price of crude oil and victory of Emmanuel Macron in the French election has enabled the Euro to rally against the Canadian dollar, so far in May. The dovish stance of the Bank of Canada
Read MoreYen strengthens as commodity import costs decline
On the basis of hawkish stance taken by the US Fed, a long position in the USD/JPY pair in April would have been recommended. A call option would be suggested to binary option traders. The entry was advised near 108.80,
Read MoreKiwi down on stagnant wages, rising capital cost concerns
As crude oil went below the crucial $50 per barrel mark, the Canadian dollar began to lose ground against most of the G20 currencies, including the New Zealand dollar. The increase in the average dairy prices, in the auction conducted
Read MoreAussie to strengthen on rally in Iron ore, coking coal
In our March 17th article, we had predicted the Australian dollar to decline against the Greenback, on the basis of poor job additions in February. We had also pointed out that the US dollar would strengthen on Fed’s affirmation to
Read MoreCanadian dollar strengthens on hawkish statement from BoC
Lower than anticipated unemployment claims in the US and sharp decline in the price of crude oil fuelled a rally in the USD/CAD pair in the past week. The pair, which hit a high of 1.3470 yesterday, is trying to
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