During the past few years there has been a good correlation between the Gold and CNH. The Chinese Yuan has been a good proxy for US Dollar relative performance and risk on / risk off flows. As the Dollar strengthens, USDCNH naturally rises and vice versa.
The USDSEK is not a currency pair that Forex Analytix commonly follows, but at times it is worth noting.
The USDCAD will apparently close the week below the 200DMA.
Since the AUDUSD rallied from the late North American session selloff from a couple weeks back, the rally has stalled at the 200DMA.
The US Dollar has given up ground today as the FOMC statement and press conference came off fairly dovish.
The DXY has developed an ascending wedge as we stall near the 50% retracement of the last move lower.
The EURUSD finally broke higher out of the two month consolidation with the pair reaching as high as 1.1550 today.
The USD (DXY) has been range bound for months, and mostly this is a product of many cross currents in the markets. Equity market volatility, weakness of fundamental data globally stating to seep in, the FOMC looking to be at the end of their hike cycle, China and US trade war brewing, and the list […]
After a huge move that pushed it from as high as $77 to almost 42 within a 3 month period, crude found a low 1 day before the Christmas break.