First real bounce off Parity with 0.9952 the recorded low in this foray. The Euro's rebound has taken us just under 1.0300. Resistance lies at 1.0280-1.0300. Which should hold another serious attempt at 1.00 (parity). Look for 1.00-1.03 in the initial part of this week's data dump. A break could see a run either way with Parity within reach, and vulnerable. 

Euro - Will Parity be the line in the sand ?

The US Dollar has strengthened against all of its Rivals in Asian trade today. The catalyst is, once again, a souring of risk sentiment due to surge in Covid-19 infections across the globe. In Tokyo, where the Olympics is taking place, a surge of 3,000 new cases was reported. 

At the same time the flight-to-safety has seen US bond yields plunge. The benchmark US 10-year treasury yield has dropped 4 basis points to 1.25% today (from its 1.29% close). In contrast, other global bond yields are either flat or modestly lower. Which will prevent any USD surges. The Greenback cannot advance much further without yield support.

Economic data released today saw Singapore's Industrial Production rose 27.5% year-on-year in June. According to United Overseas Bank (UOB), one of Singapore's largest investment banks and financial services company, this is the fastest growth since December 2010.

USD/SGD is a good sell at current levels, 1.3612. I've put a stop loss at 1.3652. Take profit at 1.3497. 

USD/SGD - Time to short the Greenback

Stopped out last night on the first move down which smelled of stop-loss and fresh selling of USD/CAD. Back in again today, this morning at 1.2165. Stop loss 1.2119 and Take Profit at 1.2347. All eyes on the Canadian and US Payrolls reports. 

Back In Again - Long USD/CAD

We're near or at 3 1/2 year lows on this currency pair. With Canada's Employment Gain forecast to drop, the Unemployment to rise, the data is in contrast to what is forecast for the U.S. Median expectations for US Payrolls are for a small gain, while the US Jobless rate is expected to improve a touch (5.8% in April from March's 6%) 

USD/CAD - Buy the Greenback, Sell the Loonie

With the US 10-year bond yield climbing 4 basis points in Asia to 1.65%, the Dollar's descent against its Peers has halted. Against the Singapore Dollar have gone long at 1.3250, stop at 1.3227, take profit at 1.3380. 

Michael Moran

Michael Moran

Jul 24 2022

Euro - Will Parity be the line in the sand ?

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Michael Moran

Jul 27 2021

USD/SGD - Time to short the Greenback

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Michael Moran

May 07 2021

Back In Again - Long USD/CAD

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Michael Moran

May 06 2021

USD/CAD - Buy the Greenback, Sell the Loonie

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Michael Moran

Apr 29 2021

USD/SGD - Time to get long the Greenback

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