Month: April 2022

USDCHF runs out of steam The  USDCHF  rose sharply yesterday and in the process moved above the swing highs from April and March between 0.9459 and 0.9472. The price also moved above the 50% retracement of the move down from the 2019 high increasing the bullish bias (see post from yesterday outlining the level as
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Canadian Dollar surges in early US session after much stronger than expected consumer inflation data, which supports more aggressive tightening by BoC. Other commodity currencies are also strong. On the other hand, Dollar is trading broadly lower as recent rally lost momentum, in particular against Yen. Euro is also soft, together with Sterling and Swiss
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EURGBP tries to move higher with more work to do The  EURGBP  has moved marginally higher today, but in the process has moved back above its 100 hour moving average currently at 0.82862. The pair initially broke above that moving average but found willing sellers against a swing area between 0.82936 and 0.82987. The price
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India’s state-run refiners are planning to buy as much Russian oil as possible while shifting their purchase strategy from tenders to negotiated deals to extract deeper discounts, people familiar with the matter said. State refiners have bought more than 15 million barrels of Russian crude from traders as well as Russian firms since the outbreak
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Selloff in the Japan Yen continued this week and intensified in Asian session today. The move came as global benchmark treasury yields powered up, including those in the US, Germany and UK. For now, commodity currencies are the stronger ones for, followed closely by Dollar. European majors are generally weak. Technically, Canadian Dollar appears to
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