USDCHF May run to 0.92100 early next week, as the week's high. I anticipate a reversal once it reaches that level ahead of US PMI and US GDP. Given that the GDP is expected to decline, any less than forecast figure may push it 0.88700 then later to 0.88100.
A "back to the basics" analysis. Let's leave behind the stock markets and look at the slow and deep fundamentals of the worldwide economy. Today I will attempt to make a simple analysis using GDP. This is the net profit of one country. The miracle of China caught the West in the sleep. It outperformed the largest economy of the world. And by incredible...
The NZD/USD currency pair has rebounded above the 0.6150 level, breaking its two-day downtrend at a six-week low. The recent rise in the Kiwi pair is largely attributed to the mixed catalysts at home, along with the broad weakness in the US dollar. The upcoming US Q1 GDP release is crucial for NZD/USD traders to watch. The market expects the GDP to ease to 2.0%...
USD/JPY continues to fall as the Japanese yen rally continues. In the European session, USD/JPY is trading at 133.26, down 0.72%. Thursday's US GDP for Q1 was weaker than expected, as the -0.9% reading surprised the markets, which had projected a 0.5% gain. There was plenty of discussion about the soft GDP report, not so much that it underperformed, but rather...
What started off as a calm week has turned into a rout. The euro is down 0.83% in the North American session and has fallen into 1.11 territory for the first time since June 2020. The currency has taken a nasty spill this week, falling a massive 1.73%. The markets are still buzzing over the hawkish Fed meeting, which has overshadowed today's stellar US GDP...
The post-Fed rally of EURUSD pokes a two-week-old resistance line as bulls brace for the preliminary figures of the US Q2 GDP, up for publishing later today. While the stimulus news and FOMC constitute a double whammy attack on the US dollar, suggesting the upside of the adjacent hurdle near 1.1860, bulls are likely to remain unconvinced until the quote stays...
The Swiss franc is up for a second straight day. In North American trade, USD/CHF is trading at 0.9000, up 0.24% on the day. The Swiss franc has made strong inroads in recent weeks against a US dollar which continues to struggle. The dollar posted sharp gains in the first quarter, but has reversed directions. Since April 1, USD/CHF is down 4.8% and has...
This is a simple study where I use the SPX to GDP ratio on the log scale in an attempt to determine how far (on the long-term) the current post-COVID sell-off rally can go. As you see the ratio is within a Channel Up since 1971 with clear Higher Highs and Higher Lows. I used the Fibonacci Channel to identify the pressure points and as you see the 0.382 - 0.618...