NZD/USD downside favoured towards 0.6950

NZD/USD is currently in a sideways drift with resistance at 0.7180 capping the uptrend from 0.7109. The bird has been on the back foot as markets start to look at the RBNZ as the next most likely candidate in the race to zero rates to


Daily Forex Update: USD/CAD

By: Dima Chernovolov USD/CAD continues to rise after the earlier breakout of the Inverse Head and Shoulders chart pattern which was earlier identified by Autochartist on the hourly charts. Autochartist rates the Quality of this chart pattern at the 5 bar level – which reflects


EM’s outlook: what about the Fed? – BBH

Analysts at Brown Brothers Harriman offered their outlook for the EM’s in reocvery post Brexit hysteria. Key Quotes: “After the Brexit-related plunge, EM has recovered nicely.  Besides the diminished Brexit concerns, the soft US economy has led many to dial back Fed tightening expectations.  Rather


USGS confirms a second earthquake in central Italy

USGS is reporting a second earthquake with a preliminary magnitude of 6.4 near Perugia, Italy, just about two hours after a 5.5 quake was reported. There are no reports of casualties or injuries, but according to the Italian media, two people may have been injured as


Economic wrap: decent U.S. data – Westpac

Analysts at Westpac offered an economic wrap. Key Quotes: “US wholesale inventories rose 0.2% in Sep (vs +0.1% expected), which combined with the trade data surprise could result in GDP forecasts being revised higher. The Sep trade balance rose from -%59.2bn to -$56.1bn (vs -$60.5bn expected), with exports


No Trader Is An Island

Admit it. There was a time in your trading career that you thought every single forex trader other than yourself was a few fries short of a happy meal and didn’t deserve your time of day. You thought to yourself that since only 10% of