The Kiwi continues to lead the charge of all the currencies and this, as well as the S&P500 were the only real b/o moves last session. The US$ is approaching significant resistance again so watch this region for any new make or break.
There hasn’t been a lot of change since yesterday’s update apart from support for GBP pairs on the back of upbeat jobs data. Most charts show consolidation activity on low or declining momentum.
One of my followers asked me to review the EUR/ZAR and ZAR/JPY Forex pairs. Neither of these exotic currency pairs are part of my usual stable and both reflect that the South African Rand has been under pressure for a long time. However, as with all trends, they don’t run in straight lines forever so […]
Last week: The major news to emerge out of last week was the announcement by numerous news outlets of a US Election victory for the Biden / Harris team. President Trump has yet to concede defeat in the election and this uncertainty will need to be factored into trading in coming sessions. US$ weakness triggered […]
The US$ is lower for the week as the markets wait for the result of the US Presidential Election. A Democrat win is now widely expected and the prospect of a divided Congress is supporting risk assets and thereby putting pressure on the US$. The FX Indices are now aligned for risk-on BUT caution is […]