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The past few days have seen a range of media outlets repeating claims from Forbes opinion piece that suggested that New Zealand could be facing a recession under Jacinda Ardern’s Labour Party. Now as easy as it is to point the finger of discontent at the new incumbents the...
The New Zealand Dollar has been under siege of late as a range of political upsets have seen the pair facing a steady wave of depreciation. Subsequently, price action has tumbled from around the 70 cent handle, in late October, all the way to its present level at 0.6861....
The past week has been relatively interesting on the Crude Oil news front as OPEC quietly released their `’World Oil Outlook’ report. As usual, the cartel largely shrugged off the growing risk around the arrival of peak oil demand and largely painted a picture of improving price stability. However,...
The past week has zipped past with the newly installed Labour Government readying their swords to slash away at the prior incumbents work. Understandably, there is plenty of concern that the Labour led social programs will erode some of the economic gains made by National over the past decade....
The past few weeks have seen crude oil prices surging as plenty of rhetoric, along with some fundamental bumps, have buoyed the commodity. Subsequently, both WTI and Brent prices have reached levels not seen since the latter part of 2016. In particular, the price of Brent has risen above...
There is no doubt that the past seven years has been a watershed for macroeconomic policy, as well as financial markets, as central banks have ardently cast aside the accepted playbook and moved into the realm of policy experimentation. Subsequently, what was birthed was the quantitative easing process which...
The past few weeks have proved to be a relatively large boon for Gold markets as increased geopolitical risk, as well as slipping U.S. centric economic data, has seen the precious metal assail the $1300 handle to trade around the present $1336 an ounce mark. However, the question remains...
The EURGBP has been on a relatively linear run higher of late as the pair has consolidated some of the recent fundamental and technical gains. Subsequently, the pair has climbed through the 0.9100 handle but the momentum could be about to run out given that there are presently some...
The past 24 hours have been relatively interesting for those of us who keep a close eye on the U.S. Federal Reserve with the release of the latest FOMC minutes.The minutes contained some interesting comments on the future of the central bank’s enormous balance sheet with most of the...
The Euro Dollar initially started the week under pressure as the U.S. JOLTS Job Openings came in above expectations but this sentiment quickly turned around in the face of increased risk from the North Korean crisis. Subsequently, the pair managed to find some support, as capital sought a safe...
The Euro managed to find a modicum of support during today’s session as the pair despite the very evident ongoing selling pressure. The pair was initially pushed to a low of 1.1687 but managed to claw its way back to trade around the 1.1757 mark following the release of...
Gold prices firmed overnight to close around the $1260.75 an ounce mark as the precious metal reacted to a range of increased risk emanating from renewed tension on the Korean Peninsula. However, there is more than just the ongoing North Korean situation fuelling the drive with the latest U.S....
The Dow Jones Industrial Average recently crossed the mythical 22,000 mark in open defiance of potential monetary tightening coming from the U.S. Federal Reserve. As many of you may know, there is a direct negative correlation between interest rates and equity prices so it’s especially surprising to see the...
The Cable experienced another week in the green as the pair reacted to both the U.S. FOMC and UK GDP results. However, it was largely the FOMC’s lack of hawkishness that set off a broad sentiment swing against the greenback and saw the pair significantly buoyed. However, the focus...
The New Zealand Dollar has been roaring lately as the pair has reacted strongly to the diminished sentiment for the greenback. Subsequently, the pair has risen from a low around the 0.72 handle to form a new high around the 0.7549 mark. This is not an inconsequential rally but...
Oil prices soared 4.50% higher overnight as a result of a 10.23M drawdown in the US API Crude Oil Stocks – the largest draw in 10 months. Due to this, much of the market will be bracing for another surge in buying pressure just in case the impending US...
The Cable had a relatively poor week after the UK Inflation figures surprised the market, coming in well below estimates at 0%, and sending the Cable in to selloff mode. Subsequently, the bears piled into short positions and the pair declined to close the week sharply lower at 1.2992....
The AUD had yet another strong rally last week which left many traders scratching their heads given that there was little to explain the aggressive move.  Nevertheless, the week’s performance isn’t entirely without explanation which might be worth delving into before we take a look at what is next...
The Euro continued to rally strongly last week and currently shows no sign of topping or a loss of momentum.  Much of the bullishness came late in the week when the ECB’s Mario Draghi suggested that Eurozone growth and employment continues to strengthen and hinted that the bank could...
The Euro Dollar has been on a significant bullish run over the past 24 hours as ECB Chair Mario Draghi stoked the fires of speculation with his latest commentary on the state of the Eurozone economy. Although there was plenty of mixed information for the average trader to digest,...
The past few days have been relatively volatile for the Cable as the pair has been beset by the softer than expected UK inflation figures. This has caused a relatively rapid depreciation from the recent highs that saw price action collapse from its recent high of 1.3125 all the...
Gold prices have been on the mend in recent weeks but, in doing so, they could be preparing the metal for another slide to the downside in the near-term. Indeed, the rally back to the 100 day moving average could simply be a prelude to a major tumble –...
The Australian Dollar has seen a stunning run over the past few weeks as the currency pair has been buoyed by a range of increasingly negative U.S. economic data. In particular, a softening in the Fed’s position regarding rate hikes has seen capital flowing into the AUD and, subsequently,...
Further losses are looking more and more likely for the Dollar-Yen this week as its technical outlook remains stubbornly bearish. Indeed, we expect the pair to sink through the 100 day moving average to test support around the 110.00 handle within the next week or so. This being said,...
The markets have been relatively consigned to the fact of a cycle of interest rate tightening from the U.S. Federal Reserve in the coming year given the historic expectation setting that has occurred of late. However, the venerable Fed Chair, Janet Yellen, has tendered some testimony to congress which...
The third leg of the Loonie’s Elliot wave extended somewhat below where it was originally forecasted but the decline is now looking just about ready to reverse. As a result, we could have a week or two of gains before selling pressure resumes and sends the pair back to...
Oil prices had a rather abrupt reversal last week, raising concerns that the declining channel was beginning to break down to some extent. However, this seems to be at odds with the broader technical bias which suggests that a rally back up to the 48.55 mark is still plausible....
The Cable experienced a relatively torrid week as the pair was initially beset by a negative UK Manufacturing PMI result of 54.3. In addition, the Construction PMI also proved disappointing, coming in fractionally lower at 54.8. Subsequently, the pair declined through most of the week to close around the...
The USDJPY was strongly bullish through most of last week as the pair reacted to the strong US ISM Manufacturing PMI and Non-Farm Payroll figures. Subsequently, there was a relatively strong sentiment swing towards the greenback which saw the pair close the week sharply higher at 113.89. However, it...
Silver prices have been the subject of significant debate of the past few hours as a result of a flash crash that saw the metal plummet to the $14.27 handle before roaring higher within moments. Of course, this has brought out the usual speculations and accusations about exactly what...