Pound Update: Currently trading below the key support above 1.2820 and below key resistance 1.2940. Expected day range 1.2830-2950. Trade wise can keep selling this until it stays below 1.2950. More… [Read More...]
Squawk: Pound paralysed post-Brexit extension The UK government and EU agreed…
Pound paralysed post-Brexit extension The UK government and EU agreed a flexible extension (flextension) to the Brexit negotiation process last week which avoided a “no deal” Brexit which would… [Read More...]
Squawk: Shaun Downey’s Weekly Round up Dollar Index tries to reassert…
Shaun Downey’s Weekly Round up Dollar Index tries to reassert uptrend Negative signals appear on the Euro The Pound breaks back down EURGBP finds support at the bottom of the sideways trend Crude Oil… [Read More...]
GBP slides as Boris tests positive for COVID-19
GBP slides as Boris tests positive for COVID-19 Sterling slid on Friday after UK Prime Minister Boris Johnson tested positive for coronavirus, although Number 10 was keen to stress that he’s only experiencing mild symptoms. I’m not quite sure why the positive test result warranted such a move in the currency, it’s just another reminder of how otherwise rational markets do have a tendency to behave quite irrationally occasionally. I imagine the move may well reverse before long and the currency find itself back where it was just before the news broke. It was inevitable that there was going to be many well known positive test results. In fact, I’m surprised more world leaders and other leading figures haven’t already tested positive given … [Read More...]
Squawk: W19 #FX technical sentiment: #AUDCAD ? #AUDJPY ? #GBPUSD ?…
W19 #FX technical sentiment: #AUDCAD ? #AUDJPY ? #GBPUSD ? #NZDCHF ? #NZDJPY ?(CONTRARIAN) #USDJPY ?(CONTRARIAN) #AUDCHF ?(CONTRARIAN) #GBPAUD ? #NZDCAD ? #USDCAD ?(CONTRARIAN) #USDCHF ?(CONTRARIAN)… [Read More...]
2019 in tweeted charts!
Below is a relatively concise overview of financial markets in 2019 using a selection of charts I tweeted throughout the year. While this probably aggravates the already pronounced calendar-year thinking of investors, it also offers potential insights to the, at times erratic, behavior of financial markets. For example, looking back chronologically towards 2019 reveals that while there was an awful lot of negative news surrounding ‘the trade war’ there was also a continuous stream of positive news. Most of this was related to a game-changer swing in monetary policy. As in many years since the financial crises, central banks were the most dominant factor in financial markets in 2019. Those who were confident enough to rely on them, once again did very, very well. January In January, … [Read More...]