In every major bear market, there are relief rallies and that is what we have seen today. The Dow Jones Industrial Average dropped more than 300 points during the US trading session before reversing violently to end the day up more than 550 points. The major turnaround in equities has forced the US [...]

Posted in Australian Dollar, Bank of England, British Pound, Canadian Dollar, Forex News, Forex Technicals, US Dollar, US Economy, beige book dollar, eur/usd, euro, forex blog, forex trading calendar, retail sales No Comments »

The global unwind continues this morning with US equities, commodities and currencies taking another beating. The US dollar and Japanese Yen continue to outperform with the British pound hitting a fresh 5 year low.
The story is still the same, which is sell first and ask questions later. It is earnings season and [...]

Posted in Bank of Canada, Bank of England, Bank of Japan, BoE rate cut, British Pound, Canadian Dollar, Carry Trades, ECB, Fed Rate Cut, Federal Reserve, Forex News, Forex Podcast, ecb rate cut, eur/usd, forex blog, retail sales 3 Comments »

Every day, equities, currency and bond traders weigh the good news with the bad to determine if they want to buy or sell.
Today, there were just as many positive reports that should have helped to stabilize the markets but has instead failed to stem the bleeding in equities and currencies.
In a [...]

Posted in Australian Dollar, British Pound, Canadian Dollar, Carry Trades, ECB, Forex News, US Dollar, USD/CAD, currency trading ranges, election dollar, euro oil, forex blog, forex trading calendar, usd/jpy 1 Comment »

On Monday, I blogged about all of the reasons why I like USD/CAD. At that time, the currency pair was trading at 1.1889 and it is now 200 pips higher.
The resistance level that I have been watching was 1.20. As long as the currency pair closes above that level, there is no major [...]

Posted in Canadian Dollar, Forex Technicals, euro oil, forex blog 1 Comment »

Even though the lack of meaningful US economic data has kept the US dollar in flux, there is one commodity that is continuing to grind lower. Oil prices fell to the lowest level in 20 months as exporters wake up to reality that crude prices may stay at current levels for some time. [...]

Posted in Canadian Dollar, US Dollar, dollar earnings, dollar intervention, eur/usd, euro oil, forex blog, oil dollar No Comments »