The longer term recovery for oil which peaked in the $52 per barrel area last month, is now reversing once more and picking up bearish momentum ahead of the weekly oil inventories due for release later today, as both the technical and fundamental picture help to drive prices lower once again.
The International Monetary Fund (IMF) on Monday announced its board decision to amend the rounding methodology for determining currency accounts in the Special Drawing Right (SDR) basket, in order to make technical preparations for the inclusion of the Chinese currency, Renminbi, in the SDR basket.
Cable continued to consolidate last week in the after shock of Brexit, with the pair trading in a narrow range on the daily chart, and this continued at the start of this week’s trading keeping to a 70 pip range, and closing 9 pips lower off the open.
The EURUSD pair initially fell during the day on Monday, but turned around to slam into the 1.10 level again.
The AUDUSD pair initially tried to rally during the day on Monday, but turned back around to form a bit of a shooting star.
The AUDUSD pair fell during the course of the day on Friday, as we continue to see this market soften.
The EURUSD pair broke down below the bottom of a couple of hammers during the Friday session, so therefore if you we are getting ready to go even lower.
The British pound fell again during the day on Friday, as we continue to grind our way down towards the 1.30.
Published on Jul 22, 2016 Rep. Louie Gohmert, (R-Texas), on the impact of Donald Trump’s acceptance speech.
As US equity markets continue to defy gravity and move inexorably higher, so the VIX slides ever lower as market complacency takes hold with risk on appetite continuing to remain firmly on the menu.