Wednesday, 3 February 2021

January ISM Services PMI Rises to Pandemic High, USD Strength Continues

The ISM Services PMI for January hit a new high amidst the pandemic at 58.7 versus a forecast of 56.8, marking a solid month for the service sector despite the headwinds.

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USD/CAD Rate Tracks Weekly Range Ahead of Canada Employment Report

USD/CAD may trade in a defined range ahead of the update to Canada’s Employment report as it reverses ahead of the weekly low (1.2761).

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GBP Volatility Rises Ahead of BoE, Crude Oil Soaring, NZD Outperforms - US Market Open

NZD outperforming, crude oil prices at fresh multi-month highs. BoE risk for GBP seen in options market..

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EUR/USD Remains Weak as US Data, Non-Farm Payrolls Loom Large

Heavyweight US data and the latest US Labor report will guide EUR/USD in the short-term with the pair currently struggling to keep above 1.2000.

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Australian Dollar Outlook Remains Weak vs New Zealand Dollar: RBNZ to Mull QE Taper?

A firm recovery in the NZ economy may prompt the RBNZ to mull QE tapering.

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Natural Gas Outlook: EIA Storage to Shed Light on Chinese Imports of LNG

The historical volatile nature of Natural Gas has continued this week as prices popped after cold weather data but will LNG continue to rise with weekly storage data scheduled tomorrow?

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British Pound (GBP) Latest: No End Yet in Sight for EUR/GBP Losses

Having broken below an important support line on the charts, EUR/GBP is continuing to decline and it would be no surprise if it fell even further.

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How to Manage the Emotions of Trading

Controlling emotions while trading can prove to be the difference between success and failure.

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Tuesday, 2 February 2021

Euro Outlook: DXY Strength Hampering EUR/USD Ahead of Inflation Print

The divergence in rhetoric between the ECB and Federal Reserve may weigh on EUR/USD, as several Governing Council members hint at additional interest rate cuts.

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Gold, Crude Oil Forecast: Stimulus, Treasury Yield and Pandemic in Focus

Gold prices moved slightly higher as the retail trading frenzy faded. Crude oil prices advanced to a 12-month high amid stimulus hopes and falling crude inventories.

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Bitcoin (BTC) Playing Catch Up as Ethereum (ETH) Surges to Fresh Highs

The BTC/ETH ratio suggests that Ethereum may outperform its more popular counterpart in the near term. However, Bitcoin looks set to follow ETH higher after breaching key resistance.

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Nasdaq 100, Hang Seng, ASX 200 Rise on Big Tech Earnings Boost

A strong finish on Wall Street may encourage another ‘risk-on’ session across Asia-Pacific markets. Upbeat earnings from Alphabet, Amazon and Alibaba set a favourable tone for the tech-led rally.

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AUD/NZD Plunges as Stellar Jobs Data Boosts New Zealand Dollar Sentiment

Wall Street added to Monday's gain, led by the Dow Jones Industrial Average. The New Zealand Dollar is gaining against its major FX pairs, with AUD/NZD breaking sharply lower.

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Dow Jones & S&P 500 Recover, Amazon and Google Earnings Impress

Alphabet and Amazon, companies worth more than $3.3 trillion combined, reported earnings Tuesday afternoon. The impressive results might set the stage for a continued rebound in sentiment.

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AUD/USD Outlook: RSI Extends Downward Trend Following RBA Meeting

The Relative Strength Index (RSI) continues to warn of a larger correction in AUD/USD as the indicator extends the downward trend established earlier this year.

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Bitcoin’s (BTC/USD) Silver (XAG/USD) Lining

Bitcoin and Silver remain on the move after a volatile couple of weeks

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Oil Price Rally Triggers Overbought RSI Signal Ahead of OPEC Meeting

The OPEC Joint Ministerial Monitoring Committee (JMMC) meeting may lead to higher oil prices as the group and its allies “stand ready to take any necessary actions.”

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USD Breakout, Silver Double Top, EUR/USD, Gold Breakdown - US Market Open

US Dollar in recovery mode. Silver reverses gains. EUR/USD and Gold breaking down.

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Market Sentiment Improving But EUR/USD, EUR/GBP Weak | Webinar

Trader confidence is broadly positive thanks to hopes of a US stimulus package and vaccine rollouts but the Euro is weak.

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FTSE 100 Forecast: Lagging its Peers on Lacklustre Earnings and Silver Correction

Disappointing BP earnings cause the FTSE 100 to lag its European Peers

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ECB Leaves Rates Unchanged, Rate Cut Looms, EUR/USD Steady Ahead of Press Conference

The European Central Bank left all three official rates unchanged as expected. Traders are now focusing on the press conference for any clue...