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EUR/CAD – The Weakest of All the CAD Pairs

2019-09-17T12:44:13+00:00

When the anticipated supply of something goes down, the price usually goes up. Such is the case with oil as a result of the attack over the weekend on Saudi Arabia’s largest faciality. Because of the attack, the anticipated supply of oil went down, causing prices to go up. If the price of oil is going up, the price of a currency of other oil exporting countries usually will go up as well. Canada is an oil export led economy. When the price of crude oil goes up, generally, the price of the Canadian Dollar will as well. Today, the Canadian [...]

EUR/CAD – The Weakest of All the CAD Pairs 2019-09-17T12:44:13+00:00

Construction Work Done, Australia, Preliminary, Jun 2019

2019-08-28T10:46:35+00:00

The trend estimate for total construction work done fell 2.7% in the June quarter 2019. • The seasonally adjusted estimate for total construction work done fell 3.8% to $48,778.0m in the June quarter. BUILDING WORK DONE • The trend estimate for total building work done fell 2.2% in the June quarter 2019. • The trend estimate for non-residential building work done fell 0.8% and residential building work fell 3.0%. • The seasonally adjusted estimate of total building work done fell 5.7% to $28,506.2m in the June quarter. ENGINEERING WORK DONE • The trend estimate for engineering work done fell 3.1% in [...]

Construction Work Done, Australia, Preliminary, Jun 2019 2019-08-28T10:46:35+00:00

Daily Forex Technical Strategy (Thurs 25 Jul)

2019-07-25T13:14:23+00:00

EUR/USD – 1.1200 key short-term resistance to watch ahead of ECB. Printed a marginal new “lower low” at 1.1126 in yesterday, 24 Jul European session, the pair has stared to consolidated in a tight range of 28 pips within a minor “Symmetrical Triangle” configuration ahead of ECB’s monetary policy decision out today later at 1230 GMT. Overall, the short-term impulsive down move sequence in place since 25 Jun 2019 high remains intact (click here to recap previous report), maintain bearish bias in any bounces below 1.1200 key short-term pivotal resistance for a push down to retest 1.1120 before targeting the next [...]

Daily Forex Technical Strategy (Thurs 25 Jul) 2019-07-25T13:14:23+00:00

AUD/USD Downtrend at Support Before RBA Speech, Tesla Shares Sink

2019-07-25T13:13:54+00:00

The past 24 hours were a choppy session, with varied performance in FX and equities ahead of key economic event risks such as the ECB and US GDP. Markets had to contend with mixed US earnings and data. While the S&P 500 ended the day 0.47% to the upside, the industrial-heavy Dow Jones fell almost 0.3% as it was weighed by Caterpillar Inc. (-4.48%) and Boeing shares (-3.12%) after earnings reports. The former noted rising material costs such as tariffs while the latter confronted the possibility of halting production of a version of its popular aircraft series, the 737 Max. Meanwhile, [...]

AUD/USD Downtrend at Support Before RBA Speech, Tesla Shares Sink 2019-07-25T13:13:54+00:00