Friday 13th March: Safe Havens Fail to Advance as Market Panic Continues
Europe’s single currency attempted a comeback against the buck off the 61.8% Fibonacci retracement ratio at 1.1053 on the H4 scale, a touch north of March’s opening level at 1.1045, after free falling from highs at 1.1333.
Thursday 12th March: ECB Takes Centre Stage.
Europe’s shared currency coasted lower Wednesday, fading session peaks at 1.1366. As markets ready themselves for the European Central Bank, H4 price is seen languishing marginally south of 1.13, testing lows of 1.1257. US inflation data (CPI) announced modestly optimistic figures in February, though was largely ignored by market price.
Wednesday 11th March: Upbeat Market Sentiment Drives Dollar to Higher Ground
Sentiment somewhat steadied Tuesday, prompting a rebound in US Treasury yields and the US dollar index. The DXY reclaimed 96.00 to the upside and is poised to shake hands with 96.50.
Tuesday 10th March: Technical Outlook and Review.
Europe’s single currency firmed Monday, benefitting from continued decline in US Treasuries and the dollar’s demise. the DXY cracked 95.00, levels not seen since October 2018. 1.14 was taken to the upside in early trade, with the latter pencilling in support for the remainder of the day.
Monday 9th March: Weekly Technical Outlook and Review
EUR/USD bulls went on the offensive last week, sharply extending gains. Adding more than 250 points, price bettered long-term channel resistance, extended from the high 1.1569.
Friday 6th March: NFP Day – Remain Vigilant
Key risk events today: Canada Employment Change and Trade Balance; US […]
US Daylight Savings & Server Time Changing to GMT+3
Dear Trader, On Sunday the 08th of March, IC Markets Trading servers will move forward by one hour from GMT+2 to GMT+3 as the US will enter daylight savings.While trading for most products will remain unaffected, there will be a change in the trading hours of some products.
Thursday 5th March: Technical Outlook and Review
Key risk events today: OPEC Meetings; BoE Gov Carney Speaks; BoC […]
Wednesday 4th March: Dollar Tumbles After Surprise Rate Cut from Fed
The Federal Reserve surprised markets Tuesday, slashing interest rates amid concern about the potential economic toll of the coronavirus outbreak. Following a near to-the-point retest at 1.11, reinforced closely by February’s opening level at 1.1094, H4 price gained traction, eventually grasping the underside of 1.12.
