Market News

I’ve rounded up FOUR mechanical forex strategies right here to see how they performed recently. Take a look!

COVID-19 headlines, Fed speak, & improving U.S. economic data that had USD traders bouncing back and forth to a mixed, net negative week for the Greenback.

Concerns from the BOE on the jobs outlook and a weaker-than-expected GDP read were the likely drivers for its under performnce against the majors this week.

EUR rallied on hopes of a recovery fund agreement & improving economic updates, while CHF soured on comments from the SNB on keeping an expansive monetary policy. 

Surprisingly positive rhetoric from the BOC made for a net positive week for the Loonie despite terrible jobs data revisions and a round of risk-off sentiment.

NZD out of this week as a net loser, hurt by a disappointing inflation update from New Zealand & broad risk sentiment arguably more net negative than positive throughout the week. 

AUD nearly takes the top spot, lifted higher on positive global risk sentiment. This was enough to overcome rising fears of a second wave in Australia as COVID-19 begin to grow. 

JPY was a choppy mess as traders were battling between coronavirus headlines, global risk sentiment & a cautious tone from the BOJ.

There’s not much in the way of top-tier catalysts in the London trading session other than an upcoming speech by BOE head Bailey.

With little expectations of a major catalyst ahead, this ranging pattern on NZD/USD is one to watch ahead of business sentiment data from New Zealand. 

I’m looking at this simple uptrend retracement play on EUR/CAD as risk aversion seems to be creeping back in the markets.

The forex calendar is heavy with potential catalysts ahead from Australia and China, making the consolidation break in AUD/USD one to watch for the session. 

Corona-who? Lockdown prospects in New Zealand and rising trade and geopolitical tensions between the U.S. and China got nothing on optimism over vaccine prospects today. Think the risk-taking will extend to London session trading?

CAD/CHF hits the top of today’s watchlist as the downtrend could see further volatility with more oil inventory updates ahead. 

The U.K. is printing a couple of lower tier reports today, which could turn traders’ focus to the pound as a risk trade. Think today’s themes will extend GBP/USD’s uptrend?

AUD/JPY has resistance ahead & potential catalysts from Australia, China & Japan. Will the resistance area be retested & break, or will the bears take control once again? 

Start your trading prep with a review of last week’s price action and an overview of catalysts coming up.

Can this week’s retail sales and manufacturing numbers restore the dollar’s appeal as a safe haven currency? Here are the potential catalysts from the U.S. that might affect the dollar’s price action!

Markets aren’t expecting fireworks from the BOC this week, so it’s possible that we’ll see more volatility from a closely watched OPEC+ event.

The spotlight turns back to economic reports from the U.K. as the CPI and claimant count figures are lined up.