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Market Analysis

Market Spotlight: Trading The US PMIs

US PMI’s Up NextThe main data focus today will be the release of the US flash manufacturing and services PMI’s for June. On the manufacturing front, the market is expecting the release to drop back to...

Market Spotlight: Trading CAD Retail Sales

CAD Retail Sales in FocusCanadian Retail sales are on deck today and on the back of the recent BOC meeting, the release is likely to create some volatility in CAD if we see any significant surprise....

Market Spotlight: USDNOK Basing Pattern

USDNOK Turning HigherThe unwinding of USD short positioning has seen the greenback spiking higher against each of its major counterparts. The moves have been more pronounced in some areas with USDNOK...

Market Spotlight: GBPUSD Double Top Trade

GBPUSD Double TopThe recent test of the 1.4248 level highs was accompanied by plenty of bearish divergence on both the MACD and RSI indicators. With price having subsequently failed at the level and...

Market Spotlight: Dow Trend Line Break

Dow Turns LowerThe sell-off in the Dow has seen the market breaking below the rising trend line from last year’s lows as well as the last swing low support in the uptrend at 33576.05. With both the...

Market Spotlight: AUDUSD Update

AUDUSDThe rally in USD this week has created further movement in the AUDUSD downside move. With equities and commodities pulling back amidst the uptick in USD, the reversal here looks to have room to...

Market Spotlight: USDCHF Initial Target Hit

USDCHFThe breakout in USDCHF above .9043 has hit its first target at .9288. With the Fed turning hawkish in its dot plot forecasts and revising it s inflation forecasts higher, the USD short position...

Market Spotlight: USDCHF Update

USDCHF Breaks OutUSDCHF has broken higher here following the June FOMC meeting yesterday which saw the Fed revising higher its dot plot forecasts, which now suggest 50bpp worth of hikes in 2023. 13...

Market Spotlight: Trading The FOMC

Hawkish ExpectationsThe June FOMC meeting tonight holds the potential to be a pivotal catalyst for FX markets over the coming months. With the US Dollar heavily sold over the last quarter, a shift in...