Forex News

The EUR/USD rose for the first time in six days as investors waited for the important US inflation data and European Central Bank (ECB) decision set for Thursday. Euro bounces back The EUR/USD price has been on a steep downward trend in the past few weeks as investors focus on the $1.9 trillion stimulus package and its impact on the American economy. The pair has dropped … [Read more...] about EUR/USD Forms Massive Head and Shoulders Pattern ahead of ECB

The USD/NOK is hovering near the lowest level since November 2018 as investors reflect on the Norwegian economy resurgence and higher oil prices. It is trading at 8.4700, which is a few pips above the year-to-date low of 8.3200. Norway’s economic rebound After struggling in the first and second quarters of last year, the Norwegian economy has been bouncing back. The … [Read more...] about USD/NOK: Bearish Breakout Likely as Bets of High Norwegian Rates Rise

American consumer sentiment reached a one-year high in early March on the back of  optimism on the world's biggest economy, according to Bloomberg. The preliminary sentiment of University of Michigan improved to 83 versus 76.8 the previous month. This is the highest since February 2020. Analysts predicted 78.5.The barometer of current economic conditions jumped to a … [Read more...] about American Consumer Sentiment Climbs to One-Year High

Equity futures slid on Friday, as treasury yields surged following a wave of stimulus in the United States and the continued vaccine rollouts across markets. S&P 500 Futures fell 0.5% as of 6:57 a.m. New York time; the Stoxx Europe 600 declined 0.5%; the MSCI Emerging Market Index dropped 0.5%; while the MSCI Asia Pacific Index was little changed.Most 10-year Treasury … [Read more...] about Equity Futures Slide As Treasury Yields Advance

Oil has been exceptionally well since the March crash last year as the concerns about the spread of COVID-19 were intensifying.  Look at the weekly Brent oil chart below. When the market recovered from the first correction, oil prices broke out above 44.00 and never looked back, providing no meaningful correction since then. On its way up, the market has managed to … [Read more...] about Oil Turning Point and the Setup in USD/CAD