USDCAD stays range-bound ahead of BoC’s tapering expectation

Canadian dollar sheds profits on Wednesday ahead of the Bank of Canada monetary policy meeting. The bank is expected to keep rates unchanged at 0.25% as well as cutting down its quantitative easing program. The Canadian dollar restored dominance over its peers in March, rising most against the Euro and Yen. EURCAD dropped over 400 […]

Market Analysis: Will the NFP pressure the dollar inside the corrective channel?

The Fed Chair ignited another frenzy run in the markets on Thursday as the dollar hits a fresh YTD high. Later today, the employment data release would ensure traders have no time to decompress from Thursday’s massive moves. It’s just what was expected at the start of the week regarding volatility. The US chief central […]

Forex Analysis – How will Pound Sterling react to the UK Budget?

On Wednesday, the UK Chancellor of the Exchequer (Finance Minister) will reveal the country’s latest budget. Traders and investors, among many other things, would like to check a likely tax hike, especially for corporations and big investments. The UK’s debt profile has surged since the pandemic, as so for other countries. The government is indebted […]

Cryptos shed $200 billion as Investors book profit – what next for Bitcoin?

In the last 24 hours, the cryptocurrency market has shed over $200 billion in capitalization. Bitcoin price shed over 20% from the new all-time high. Binance Coin jumped to the 3rd most-capped thus displacing Ripple which has fallen out of favour in the current bullish trend. Government Stimulus, QEs and Institutional Adoptions trigger a massive […]

FOMC Wednesday: How will the dollar react across the major FX?

The market continues to swing its mood almost on a daily basis this week. The dollar is reclaiming some ground on Wednesday a few hours before New York as participants await the FOMC.  Just as we expected at the start of the week, the sentiments driving the market prior to FOMC are not consistent enough […]

Will Risk-on persist? What next for Wallstreet & Riskier FX?

Market risk tone this week has maintained positivity ahead of President Biden’s fiscal policy revelation. It seems stocks will climb higher thus dragging risk-on FX like AUD, NZD and CAD along with them. Is risk drifting away from Trump toward Biden? There is a feeling among traders that the market is fast pricing-in more risk […]

Brexit Forecast: GBPUSD technical and fundamental outlook

GBP pairs are pushing higher on Wednesday ahead of an important Brexit summit in the evening. The two parties are yet to reach a compromise on the issues that continue to drag down negotiations. GBP is very much subject to the Brexit risks. The currency moves with Brexit headlines, positive and negative alike. As the […]

Dollar plummets to 30-month low as risk appetite improves

The dollar is back on the back foot this week as the dollar plummets to 30 months low. Further decline is very much likely to 90 as the current risk-on pushed stocks to fresh highs. Risk appetite has improved in the last quarter of the year. Although rising Covid cases is capable of inflicting global […]

Market Update – The impact of a weak dollar on major instruments

The bulls won last week in the equities market despite the uncertainties concerning the US extra stimulus package. The dollar was on the backfoot against its peers. Thus, the greenback has maintained an inverse correlation with the stock market. Gold bid is maintained despite perceived risk aversion while Oil prices shed some gain. Over the […]

Daily Market Analysis: near zero Fed rates plan supports the Dollar

The dollar jumped by 0.7% on Wednesday after the US Federal Reserve concluded its two-day monetary policy meeting with major focus on keeping the interest rate near zero until 2023. Here is today’s daily market analysis The US Central Bank is unrelenting in its effort to support its economy following the Coronavirus hit. After injecting […]