Canadian Dollar Price Analysis: USD/CAD Sellers Await BOC and FED Powell

Last week USD/CAD printed its lowest price in over eight months, then pulled back to trade within a narrow range. Markets are waiting for tomorrow’s news before testing these key levels


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GBP Most Bearish Currency, CAD Longs Surge - COT Report

Speculators slash USD bullish positions, while CAD positioning flips to bullish for the first time since March 2018. Most shorted currency is GBP amid weak data, rising no-deal Brexit risks and dovish BoE.


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Gold Prices Break Support Before Powell Testimony, FOMC Minutes

Gold prices edged past two-month support before much-anticipated Congressional testimony from Fed Chair Powell and the release of June FOMC meeting minutes.


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Oil Price Weakness to Persist as US-China Trade Negotiation Stalls

Oil prices stand at risk of extending the decline from earlier this month as the US-China trade negotiation stalls, while a ‘death-cross’ formation takes shape.


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EURUSD Re-Enters 18-Month Resistance Range as US Dollar Rallies

EURUSD may break below the lower lip of the 18-month descending resistance channel if fundamental risks worsen and push the US Dollar higher.


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Markets Risk Averse, S&P 500 Net-Short Bets Put Support In Focus

Equities are showing signs of risk aversion ahead of testimony from Fed Chair Jerome Powell, though S&P 500 net-short positioning may precede a turn higher as support looms.


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S&P 500 Not Tumbling at Week’s Start is Significant, Market Monetary Policy Focused

Normally, the benchmark US equity indices’ ability to avoid capsizing is not exactly occasion for enthusiasm; but when markets are as troubled as they were last week by monetary policy headlines, it deserves attention.


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NOK and Crude Oil Prices Eye Iran Risks, OPEC Report, Fed Minutes

The Norwegian Krone may have a turbulent week as Iran tensions mount and OPEC prepares to publish a critical report against the backdrop of key European data.


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Nikkei 225 Range Fate Could Offer Traders Important Near-Term Clues

The Nikkei 225 has seen upside momentum fail but has yet to crumble. It is however back within a trading band which tends not to last long.


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GBPCAD Sports a Trend That Belies Uncertainty and High Risk of Volatility

Congestion is the status quo whether the focus is equities, FX or some other asset class. Yet, there are always the outliers, and GBPCAD happens to be a very prominent example with a near 8 percent tumble.


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AUD Retreats With NAB Business Confidence, Fed Likely To Drive

The Australian Dollar was already drifting lower when news that local business confidence had failed to hold on to its May gains sent it lower still.


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NZDUSD Technical Analysis: One-Month Uptrend Broken. Now What?

The New Zealand Dollar has broken the uptrend guiding it higher against its US counterpart since mid-June. Will sellers manage to build momentum for a lasting down move?


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AUDUSD Rate Outlook Mired by Failed Attempt to Test May High

The monthly opening range undermines the recent rebound in AUDUSD as the advance from the June-low (0.6832) fails to spur a test of the May-high (0.7061).


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USD Recovery Extends, Apple Shares Eye Support on Sell Downgrade

The US Dollar extended its advance as aggressive Fed easing bets cooled, hurting the S&P 500. Apple shares were more at risk as Rosenblatt downgraded their stock to a “sell” outlook.


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Nasdaq 100 Outlook: Gaps Lurk Below, Pepsi (PEP) Earnings on Tap

The Nasdaq 100 traded lower on Monday, but will look to a lesser known Nasdaq component - Pepsi (PEP) - for influence on Tuesday.


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Forex Economic Calendar Week Ahead: China Inflation; UK GDP; BOC Meeting; FOMC Minutes; US Inflation

The second week of July will largely focus on the counterparties in the US-China trade war.


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Stock Market Outlook: S&P 500 Returns When the Fed Cuts Rates

How do US equities perform when the Federal Reserve begins to cut interest rates?


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US Recession Watch - What the US Yield Curve is Telling Traders

A key spread in the US Treasury yield curve is now suggesting that there is nearly a 33% chance of a recession hitting the United States within the next 12-months.


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EUR/USD: Net-Long Positions increase by 58.3% from Last Week

Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger EUR/USD-bearish contrarian trading bias.


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US Dollar Price Action Setups in EUR/USD, USD/JPY, USD/CAD

The US Dollar is clawing back June losses, but a full slate of Fed-speak including FOMC Chair Powell's Humphrey Hawkins testimony will keep USD on the move.


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