Matt Simpson

We’ve been patiently monitoring corrective price action on USD/JPY in hope of it confirming a swing high. With an FOMC meeting on tap, the meeting could spark the volatility required to make or break the bearish bias.   We can see on the daily chart the USD/JPY has had a decent relationship with the 50% […]

EUR/USD Plunges Back Within Range Ahead Of Fed Stronger-than expected retail sales from the US saw EUR/USD break key support amid its most bearish session in seven weeks. This places it firmly back within range, where traders could look to fade into rallied below the 1.1265 area and target the 1.1100 lows. However, given 1.1100 […]

A summary of the weekly Commitment of Traders Report (COT) from CFTC to show market positioning among large speculators. As of Tuesday 11th June: Traders were net-long USD by $28.9 billion, down -$2.1 billion from the prior week ($32.1 billion against G10 currencies, down -$2.6 billion from the prior week). Traders reduced bearish exposure on […]

GBP/USD is struggling to breach a strong resistance cluster. Given its bearish trend, we’re keeping a close eye out for a break lower. A retracement from the June low has stalled at a resistance zone The resistance zone between 1.2750 – 1.2773 comprises of the February low, a recent swing high and a 78.6% Fibonacci […]

Asian Equity Market Handover: Shares In The Red. Again. Equities were broadly lower throughout the Asia session with trade concerns making a comeback after a 1-day hiatus. Hong Kong stocks led the decline for a second successive session as protestors took to the streets again, where reports of violence saw the government shut their offices. […]

AUD/JPY Falls On Risk Aversion And Data Miss Trump has opted to keep the $325 billion tariff on Chinese goods ‘open’, ahead of the G20 meeting, and says he expects to meet Xi this month. It’s also been reported Trump is to meet President Abe ahead of the G20 meeting. Trade tensions weighed on markets […]

AU Unemployment Miss Data Drives The Aussie Lower Unemployment may have remained steady, but it’s not on track for RBA’s target, which is seeing a rise in calls for RBA to cut in July. Today was really all about the unemployment rate, which remained steady at 5.2% but missed expectations to fall to 5.1%. Were […]

With the recent bouts of risk-off sentiment along with political woes and Brexit concerns for the UK, it’s no major surprise to see GBP/JPY under such heavy selling pressure. And, as noted in Monday’s COT report, the British pound has seen a pickup of short bets and closure of longs, whilst traders are now the […]

Tomorrow’s employment set could prove to be a volatile affair for Australian markets, as it could be seen as a proxy for how soon or how many times RBA are to cut in this cycle, depending on the unemployment rate. RBA cut rates to a historical low at their June meeting and, whilst the statement […]

Protests in Honk Kong has seen the Hang Seng Index lead the way lower, after an already weak lead from Wall Street. With the Hong Kong government set to vote on the controversial extradition bill, demonstrators have taken to the streets, with organisers claiming over a million people have attended. With the city coming to […]