Last week: We’ve had a number of weeks of conflicting market signals where some instruments would close risk-on whilst others would close risk-off. However, there was better correlation last week with the majority of instruments aligning for a risk-off, or bearish, weekly close. The S&P500, DJIA, NASDAQ, Russell-2000, DAX, XJO, Copper and EEM all closed with […]

Commodity currencies have been hit hard this week with the stronger US$. Stocks held their ground last session but the weekly candles will likely be bearish for many instruments. Price action can be very choppy during the ‘distribution’ phase so traders need to keep this in mind. GBP traders might have had some success with […]

The US$ was little changed last session and so there hasn’t been a lot of change across the Forex charts. US stocks closed lower on fear of imminent tapering though but it is the AUD pairs in focus today with the release of Employment data.

A risk-off shift started during yesterday’s Asian session with the report of one new Covid case in New Zealand. This news triggered a sell-off across the XJO, NZD/USD, AUD/USD and AUD/JPY which only intensified after the release of weaker than expected US Retail Sales. The big question, of course, is whether this is the start […]

The US$ traded a bit higher to start the week following weaker than expected CNY data and the disturbing situation unfolding in Afghanistan. Despite this, the S&P500, which had dipped in early Futures trade, recovered to close at a new high. The risk-off shift during the Asian session resulted in some Yen strength which helped […]