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Wed, Apr 24, 2024 12:52 PM All times are UTC

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FxWirePro: USD/CAD struggles to close above 1.2900, good to buy on dips

May 16, 2018 11:26 am UTC| Technicals

USD/CAD has shown nice recovery of almost 190 pips from low of 1.27289 made on Friday. A slight weaker than expected Canadian jobs data and rising US 10 year bond yield has dragged the Canadian dollar down from three week...

FxWirePro: EUR/JPY extends weakness below 5-DMA, eurozone CPI fails to impress

May 16, 2018 11:01 am UTC| Technicals

EUR/JPY slumps, down 0.66% at the time of writing as eurozone CPI fails to impress. The pair has slipped below 130 handle and was currently trading at 129.75, bias lower. Upside was rejected at 50-DMA on May 14th...

FxWirePro: EUR/USD breaks below 1.1800 level on rising US 10 year yield, good to sell on rallies

May 16, 2018 10:53 am UTC| Technicals

EURUSD continuing its weakness for 3rd consecutive day and broken major support 1.1800. the pair hits fresh 2018 low at 1.17950 at the time of writing. The pair weakness was mainly due to rising US 10 year bond yield. The...

FxWirePro: GBP/JPY lingering bulls on channel support and dragonfly doji formation but trend indicators dubious – Trade one-touch calls and short hedge

May 16, 2018 09:56 am UTC| Technicals

Chart and candlestick patterns occurred: Dragonfly doji has occurred at 147.821 levels to bottom out when price dips were countered by bulls last week. Ever since the occurrence of this bullish pattern, the rallies take...

FxWirePro: USD/JPY struggles to hold break above 200-DMA, 'Bearish Cypher' pattern keeps scope for downside

May 16, 2018 09:53 am UTC| Technicals

USD/JPY edges lower from 3 1/2 month highs at 110.45, trades 0.15% lower on the day at 110.18 levels. Markets largely ignored weaker Japanese Q1 GDP data, USD subdued on modest retracement in the US bond...

FxWirePro: AUD/NZD struggles at 200-DMA (1.0881), stay long on break above

May 16, 2018 08:33 am UTC| Technicals

AUD/NZD consolidates break above Triangle Top, extends range trade for the second session. The pair remains capped at 1.09 handle, struggles to break above 200-DMA which is stiff resistance at 1.0881. Break above...

FxWirePro: Indian rupee erases previous loss against U.S. dollar, bias remains bearish

May 16, 2018 08:25 am UTC| Technicals

USD/INR is currently trading around 67.85 marks. It made intraday high at 68.09 and low at 67.80 marks. Intraday bias remains bearish till the time pair holds key resistance at 68.09 mark. Key resistances...

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Economy

The yen plunges to 34-year low despite interest rate hike

The Bank of Japan (BoJ) raised interest rates for the first time in 17 years on March 19, bringing an era of negative interest rates to an end. The key rate was hiked from 0.1% to a band from zero to 0.1% a token effort...

The idea that US interest rates will stay higher for longer is probably wrong

The 0.4% rise in US consumer prices in March didnt look like headline news. It was the same as the February increase, and the year-on-year rise of 3.5% is still sharply down from 5% a year ago. All the same, this modest...

Impact of Iran-Israel conflict on Stocks, Gold and Bitcoin

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation,...

Japan Posts 7.7% Growth in Machinery Orders

In a striking development that looks set to invigorate Japans economic prospects, a key gauge of capital spending in the country has seen its most significant jump in over a year. According to Cabinet Office data released...

Why Africa can be the beating heart of South Korea’s technology industry

Tshepo Ncube, Head: International Coverage and Bhavtik Vallabhjee, Head: Power, Utilities Infrastructure at Absa CIB reflect on their recent visit to South Korea, examining why investors in the region have their eyes set...

Politics

US Commerce Secretary Asserts Huawei Chip Lag, Affirms Export Control Success

In an interview on CBS News 60 Minutes, Commerce Secretary Gina Raimondo stated that the latest Huawei Mate 60 Pro phones chip remains significantly behind U.S. technology despite being the most advanced from China. She...

The Alberta government is interfering in public sector bargaining on an unprecedented scale

In the coming months, over 200,000 public sector workers in Alberta will begin bargaining with their employers for new contracts. The most recent agreements expired in March and, after many years of high inflation and few...

Putin’s Russia: first arrests under new anti-LGBT laws mark new era of repression

Just over three decades after Russia decriminalised homosexuality in 1993, three people have been arrested and charged under the countrys harsh new anti-LGBT laws and could face ten years in prison for membership of an...

Nvidia RTX 4090D Embroiled in US-China Tech Rivalry; South Korea Navigates Chip Export Dilemma

The U.S. government has tightened export restrictions on high-performance semiconductor chips to China, including the Nvidia RTX 4090D, and is urging South Korea to enforce similar curbs, marking a significant escalation...

Canada needs a national strategy for homeless refugee claimants

One year after the federal government closed Roxham Road, refugee claims in Canada continue to increase: there were 143,785 in 2023 compared to 91,730 in 2022. The surprise announcement in March 2023 to modify Canadas...

Science

Peter Higgs was one of the greats of particle physics. He transformed what we know about the building blocks of the universe

Peter Higgs, who gave his name to the subatomic particle known as the Higgs boson, has died aged 94. He was always a modest man, especially when considering that he was one of the greats of particle physics the area of...

Could a telescope ever see the beginning of time? An astronomer explains

The James Webb Space Telescope, or JWST for short, is one of the most advanced telescopes ever built. Planning for JWST began over 25 years ago, and construction efforts spanned over a decade. It was launched into space on...

US media coverage of new science less likely to mention researchers with African and East Asian names

When one Chinese national recently petitioned the U.S. Citizenship and Immigration Services to become a permanent resident, he thought his chances were pretty good. As an accomplished biologist, he figured that news...

If life exists on Jupiter’s moon Europa, scientists might soon be able to detect it

Europa is one of the largest of more than 90 moons in orbit around the planet Jupiter. It is also one of the best places to look for alien life. Often termed an ocean world by scientists, observations to date strongly...

Exploding stars are rare but emit torrents of radiation − if one happened close enough to Earth, it could threaten life on the planet

Stars like the Sun are remarkably constant. They vary in brightness by only 0.1% over years and decades, thanks to the fusion of hydrogen into helium that powers them. This process will keep the Sun shining steadily for...

Technology

Asahi Kasei to Build EV Battery Plant in Canada to Supply Key Parts to Honda Motor

Asahi Kasei Corporation, a chemical company based in Japan, announced it will build a new production plant in Canada where it will make parts for electric vehicle batteries. The company will then supply critical materials...

SK Networks Sets Up AI Research Lab in Silicon Valley

SK Networks established its own AI research center in the United States. The lab was inaugurated in Silicon Valley, California, on Tuesday, April 23. The site will become SK Networks AI base outside of South Korea. The...

Huawei Introduces Smart Driving Software Brand Qiankun

Huawei Technologies Co., Ltd. introduced its new smart driving software brand, Qiankun. The launch boosted Huaweis efforts to become a major name in the electric vehicle sector. Huaweis New Software Brand Huaweis new...

LG Energy Solution to Combat Infringement By Launching Licensing Business for Battery Patents

LG Energy Solution announced it will take a firm stance against companies that are infringing its battery patents. The South Korean battery maker said on Wednesday, April 24, that it will launch a new business for...

Binance Launches Meme Coin Giveaway as Whale Moves $53M Bitcoin

In a striking blend of events, Binance has rolled out a massive giveaway for meme coin traders, including SHIB and DOGE, on the same day a mega whale withdrew $53 million worth of Bitcoin, stirring market...