You have to drill into your charts to see a clearer picture of the clues for the trend A common wonder in trading is when does a trend move end?
Half the gain is gone Where have all the oil bulls gone? Crude is down 91-cents today to $69.46 and touched $69.37 at the lows. That briefly broke the 50% retracement of the June/July rally at $69.43. The 61.8% retracement is at $68.05.
Comments from the ECB’s Draghi Upbeat comments from Draghi but similar to what we’ve heard recently. No moves in EUR/USD, which remains up 36 pips to 1.1781 today.
Further comments by ECB member Ewald Nowotny on the day – Balance sheet of ECB will stay substantial – Will remain active in markets to purchase securities – Wouldn’t be too nervous about short-term effects of Italy’s new government ForexLive
The BoC meet on Wednesday this week, 11 July 2018 Here is a sneaky and extensive early preview Comes via the folks at Bank of Montreal (bolding mine): The Bank of Canada is widely expected to hike rates 25 bps at the July 11 policy meeting.
Onshore yuan reference rate for the day, Tuesday 10 July 2018. Set stronger (for the CNY) than Monday. – PBOC skip OMOs today – Net drain of 30bn yuan after maturing RRs
Economic Information Daily (via Bloomberg ) I’m guessing the further liquidity injection could come in the form of another RRR cut, but the PBOC has other tools at its disposal if needed.
Well, that’s a snoozer! So I am reading that as still no response from China on the additional $200bn in tariffs PBOC skipping open market operations today
Onshore yuan daily mid rate setting is coming up around 0116GMT People’s Bank of China to slash the value of the CNY today in response to the extra $200bn in tariffs on Chinese goods?
Pretty much the only thing that drives price is disagreement – one guy/gal buys, another sells and the circle of life continues Yeah, disagreement rocks and should be celebrated!