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1113 days ago

US dollar backslides after dovish Fed message - 90 level major support in DXY if weakness continues

The drop in the US dollar was relatively contained given the extent of the dovish surprise from the Fed. Should downside momentum pickup, the 90 level remains major support

#Forex
US dollar backslides after dovish Fed message - 90 level major support in DXY if weakness continues

1114 days ago

Forex market performance during March 2020 sell-off and since is a mirror image

Reuters notes the March and post-March 2020 performance of major, minor and exotic currencies

#Forex
Forex market performance during March 2020 sell-off and since is a mirror image

1119 days ago

This chart likely needs to change for EUR/USD to get its swagger back!

Markets pricing in creased risk of Europe falling into another covid wave because of low vaccination rate per capita

#Forex
This chart likely needs to change for EUR/USD to get its swagger back!

1120 days ago

South African rand could depreciate against the USD

The good news for the Rand is that commodity prices have never been so high, the bad news is while materials is a big part of the South African economy, its currency is more affected by changes in Treasury yields. This is shown through a weakening correlation between the Rand and industrial metals indices and a strengthening one between the Rand and yields. The USDZAR is forecasted at 15 Rand per $1, but could fall back to 17 Rand per $1 on treasury yield pressures, and slowing demand from Asia. Source: Bloomberg 

#Forex

1121 days ago

ECB jawboning the euro has worked so far #EURUSD

Soaring yields oust the euro as the ECB’s biggest problem

#Forex
ECB jawboning the euro has worked so far #EURUSD
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