The latest market rally paused following the release of disappointing US Retail Sales data and the rising Covid case load across the USA and Europe. Keep an eye on the US$ index for clues about the next move as it trades down near a recent support trend line.
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 […]
There has been a lot of US Election-related volatility but the US$ index has failed to break above the daily Cloud. Stocks have marched higher but Gold and most of the Forex pairs I monitor are little changed in net position from my previous update. There are rates updates today from the BoE and FOMC […]