Monthly Archives: May 2015

Today’s Trading Edge: USD/CAD rises to key resistance on weak Canadian GDP data

The loonie was significantly weaker early in NY after a big miss on Canadian Q1 GDP was combined with a better than expected US GDP revision.  The market reaction saw price rise from 1.2432 to 1.2522. Canada’s March reading came

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Today’s Trading Edge: GBP/USD remains weak following GDP revisions

Earlier in London, sterling extended its morning slide after the second revision of second quarter GDP came in unchanged, but lower than an expected 0.4% gain.  GBP/USD plunged 94 pips to 1.5265 after the release. In my last GBP/USD post,

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Today’s Trading Edge: EUR/USD : Euro continues to fall as all eyes on Greece

EUR/USD is trying to find support this morning as G7 finance ministers assemble today to primarily discuss Greece.  European leaders along with US officials will discuss a potential funding solution for a Greece IMF payment that is due next week.

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Today’s Trading Edge: US Dollar Index continues advance from butterfly pattern

The US dollar remains strong and the current 7-day rally is attempting to break above the 50-day SMA.  Last week, the dollar finished higher as Fed Chair Janet Yellen said that the Fed-funds target rate will be slightly higher this

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Today’s Trading Edge: AUD/USD declines to major support after US CPI data

AUD/USD continued its near two-week slide after a report showed US CPI rose to a two-year high.  Prices ex-food and fuel increased by 0.3%.  The gain was attributed by higher rents on an apartment shortage and medical care costs.  AUD/USD

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Today’s Trading Edge: EUR/GBP – Robust UK retail sales strengthen sterling

EUR/GBP fell to a fresh two-month low after a report showed that U.K. retail sales jumped 1.2% in April, much higher than the expected 0.4% increase.  The impressive print took the strong trend of increasing sales to a record 26

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Today’s Trading Edge: Oil retreats slowly after 9-week rally

Oil’s rebound from a six-year low produced a 9-week winning streak that saw the commodity climb from $42.41 to $62.58.   The two-month rally appears to have formed a bearish butterfly pattern at the $61.41 level.  While chart patterns are preferred

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USD/CHF – Dollar rebounds from three-month double-bottom low

USD/CHF has rebounded from the double-bottom low that was initiated on May 7th at .9071 and then nearly retested on Thursday at .9077, which establish more than a three-month low.  The rebound with the greenback occurs after a couple of weeks

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Today’s Trading Edge: GBP/USD Slides as UK sees first negative inflation reading since 1960

Earlier in London, sterling extended its morning slide after a report showed UK prices, for the first time since March 1960, showed “negative inflation” or “deflation”.  The Office for National Statistics said consumer prices fell 0.1% in April y/y, lower

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Today’s Trading Edge: Gold Rally Continues, $1260 eyed

Early in NY, gold prices were up .11% to $1,226.70 an ounce by 11:30 AM EST. Price action on the gold daily chart is attempting to have a third daily close above the 200-day SMA.  The current rally is attempting

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