From the daily archives: Monday, June 21, 2010
The news that China would move towards loosening its exchange rate peg has sent a shockwave through the global capital markets. Yet, this is neither a surprise; nor does it necessarily point to action on the part of Chinese officials. A week before a G20 meeting, the country – [...]
Continue Reading →A rise in risk appetite to start the week lead the U.S. dollar to trade lower against most major currencies except for the Japanese yen. This shift in investment sentiment comes largely on the back of China’s decision to move away from the peg and allow its currency to appreciate. [...]
Continue Reading →The NZDUSD has reached what is probably strong resistance from the 200 day SMA and 78.6 retracement of the decline from 7330. Recent consolidation took the form of a triangle and triangle breaks are terminal. As such, a top should form within the next few days.
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