Latest data from EPFR that traces the trading trend of funds suggests that in the week from March 26th to April 1st,net purchase of inverse ETF totaled an unprecedented US$6.04 billion, which shows that investors remain mostly bearish about the market, despite US stock market’s recent rally.Dow Jones Index daily pivot points: 22940---23240S1: 22668 R1: 23813S2: 21945 R2: 24235
Harga minyak merosot lagi pada akhir perdagangan Selasa (Rabu pagi WIB), di tengah membengkaknya pasokan minyak mentah dan melemahnya permintaan bahan bakar karena pandemi Virus Corona, sementara investor semakin hati-hati atas ekspektasi bahwa produsen terbesar dunia akan segera menyetujui pengurangan produksi.Harga minyak mentah berjangka West Texas Intermediate (WTI) untuk pengiriman Mei, jatuh 2,45 dolar AS atau 9,4 persen menjadi menetap di 23,63 dolar AS per barel, mempercepat kerugiannya di sore hari menjelang laporan persediaan minyak mentah mingguan AS.
Reserve Bank of New Zealand recently increased the size and scope of the QE program and implied that further expansion will take place if necessary.NZD/USD daily pivot points: 0.5969S1: 0.5923 R1: 0.6015S2: 0.5898 R2: 0.6060
AUD/USD closed up 1.5% on Monday, being the daily best performer of major currencies.AUD/USD daily pivot points: 0.6050--0.6070 S1: 0.6013 R1: 0.6129S2: 0.5945 R2: 0.6175
According to the latest statistics, euro speculative net longs increased by 12,957 to 74,247 contracts, among which speculative longs increased by 2,687 to 155,047 and speculative shorts decreased by 10,270 to 80,800 contracts.
While we expect AUD/USD to return to the higher range of 0.65, the question is when that will happen. AUD/USD daily pivot points: 0.6083---0.6111S1 0.6008 R1 0.6154 S2 0.5950 R2 0.6242
USD/CAD ran into resistance a couple of weeks back via the 2016 highs, initially the pullback was looking like it might be shallow but then a minor wave of selling hit. The selling may be over now, with the Friday low at 13920 acting as the line-in-the-sand to watch.
The British Pound has declined by 7.67% in value against the Canadian Dollar since March 9. The currency pair tested the lower boundary of an ascending channel pattern at 1.6534 during last week's trading sessions.
GBP/NZD may face selling pressure ahead if the pair fails to re-mount the January uptrend which has served as a key inflection point at several intervals. Over the past few weeks, traders have expressed an interest in climbing higher as demonstrated by the far-reaching wicks but ultimately failed. The lack of confidence could lead to capitulation and catalyze a selloff until GBP/NZD hits the familiar 1.9878-2.0000 support range.
Euro recovery may be losing steam near 1.11 vs US DollarBreak of trend line support needed to confirm bearish turnTrader sentiment studies continue to argue for the upside
It’s been a month of extremes in global markets as a shocking and historically aggressive equity sell-off finally found some semblance of support this week.The US Dollar put in a strong rally as risk aversion was heating up in the middle of March, gaining as much as 8.8% over a ten-day-period.With the S&P 500 digging into support and the US Dollar tempering gains, both reactions to recentFOMC actions – the big question now is whether the worst is over or whether there’s more selling yet to come.
Bank of England announced on Thursday to hold interest rate at the record low of 0.1%. Policymakers noted that the central bank will closely observe the situation and take any further measures when necessary to prevent financial shrinkage.Chartered Bank noted that once public health emergency situation is improved, the British government’s response on the large scale should be able to quickly revive the economy, and in combined with strict containment measure similar to that taken by China and Italy, it’s expected that the pound will continuously rally.Pound has been among the G10 currencies with the least satisfactory performance year to date, falling 11% against US dollar so far. According to Chartered Bank’s assessment of fair price, the pound has dropped to a record low against dollar.GBP/USD daily pivot points 1.2001---1.2133S1: 1.1907 R1: 1.2359S2: 1.1615 R2: 1.2519
Canvasing opinions here. I've seen Mean Reversion strategies work for some time, and then more recently Trend Following has worked well since the spiking Volatility. What works during the period when volatility starts to fall?
AUD/USD Current Price: 0.6065Wall Street edged sharply higher, keeping commodity-linked currencies up.Gold surged to a fresh weekly high of $1,643, retreated ahead of the close.AUD/USD at its highest in over a week near 0.6100.
S&P 500 Index, Dow Jones and Nasdaq surge on Wednesday as the US stock market benchmarks rebound for the second consecutive trading session.FOMC asset purchases and the Fed liquidity backstop, combined with hopes for a $2 trillion coronavirus stimulus package, likely fuels the recovery in stocks.The VIX and other cross-asset volatility benchmarks are starting to slide after spiking to levels not seen since the global financial crisis.
The U.S. dollar has traded lower Wednesday, as currency investors take comfort in the agreement reached over a hefty stimulus package by the U.S., and look to get into currencies perceived as more risky.
Gold prices surged more than 11% off the lows with a three-day rally taking XAU/USD into the first major hurdle at downtrend resistance. The immediate advance may be vulnerable here but IF gold has turned the corner, losses should be limited to the weekly open.
EUR/USD consolidates as the Federal Reserve ramps up its effort to support the US economy, but the exchange rate may continue to give back the advance from the 2017 low (1.0340) as the US Dollarbenefits from the flight to safety.
The US Dollar has been rallying across the board amid the coronavirus outbreak, especially against currencies from certain developing and ASEAN economies. For example, the Indonesian Rupiah is down about 16.68% against USD so far in March. That means that USD/IDR – after reaching its highest since 1998 – is heading for its most-aggressive rise over a month since the 1997 Asia financial crisis.
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