Author: Omada Admin
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DAX Tumbles 2.7% as President Trump Sets Tariff Deadline for EU
President Trump Reignites Tariff Discussion US President Donald Trump just reignited market volatility with a series of tweets and comments around tariffs. The President posted to his Truth Social platform that tariffs of at least 25% would be put in place for iPhones not made in the US. The move sent the S&P lower but…
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Sunset Market Commentary
Markets It’s been relatively quiet around US President Trump the past fortnight. Too quiet now it seems… Two weeks ago, the POTUS was too busy collecting money in the Middle East. This week, he needed to align House Republicans to pass his big beautiful, deficit-augmenting, bill. They narrowly did so yesterday, giving way to the…
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EUR/USD Mid-Day Outlook
Daily Pivots: (S1) 1.1242; (P) 1.1294; (R1) 1.1331; More… Intraday bias in EUR/USD is back on the upside with breach of 1.1362 temporary top. As noted before, correction from 1.1572 could have completed at 1.1064 already. Further rise should be seen to retest 1.1572 first. Firm break there will resume larger up trend. Next near…
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GBP/USD Mid-Day Outlook
Daily Pivots: (S1) 1.3393; (P) 1.3417; (R1) 1.3443; More… GBP/USD’s rally resumed after brief consolidations and intraday bias is back on the upside. Current rally should now target 61.8% projection of 1.2706 to 1.3442 from 1.3138 at 1.3593, and then 100% projection at 1.3874. On the downside, below 1.3389 minor support will turn intraday bias…
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USD/CHF Mid-Day Outlook
Daily Pivots: (S1) 0.8246; (P) 0.8277; (R1) 0.8319; More…. USD/CHF is holding above 0.8208 temporary low and intraday bias remains neutral. Risk will stays on the downside as long as 0.8475 resistance holds. Corrective rebound from 0.8038 should have completed already. Below 0.8208 will bring retest of 0.8038 first. Firm break there will resume larger…
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USD/JPY Mid-Day Outlook
Daily Pivots: (S1) 143.08; (P) 143.75; (R1) 144.68; More… USD/JPY’s fall from 148.64 resumed after brief recovery. Intraday bias is back on the downside for retesting 139.87 low. On the upside, above 144.31 minor resistance will turn intraday bias neutral again first. In the bigger picture, price actions from 161.94 are seen as a corrective…
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Markets Rattled as Trump Threatens 50% Tariffs on EU, Dollar Tumbles
Global financial markets are thrown back into turmoil today after US President Donald Trump reignited trade tensions by announcing he would recommend a sweeping 50% tariff on EU imports starting June 1. In a pointed social media post, Trump accused the EU of stonewalling negotiations, declaring that discussions were “going nowhere.” The announcement came on…
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Canada retail sales rise 0.8% mom on autos, underlying momentum weakens
Canada’s retail sales rose by 0.8% mom in March, surpassing expectations of a 0.6% gain. Motor vehicle and parts dealers drove the advance with a strong 4.8% mom rebound. The first quarter posted a solid 1.2% gain in total retail activity, extending the streak of quarterly increases to four. However, the underlying trend was less…
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British Pound Resumes Rally as Retail Sales Jump
The British pound has posted gains on Friday. In the European session, GBP/USD is trading at 1.3484, up 0.49% on the day. The pound has gained 1.5% this week and is trading at levels not seen since Feb. 2022. UK retail sales surge 5% in April The markets were expecting a banner reading from April…
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GBP/USD: Cracks 1.3500 Barrier and Hits a Multi-Month High on Upbeat UK Economic Data
Cable rose 0.5% on Friday morning and cracked psychological 1.3500, hitting the highest since February 2022. Fresh acceleration higher was sparked by upbeat UK retail sales, which strongly beat forecasts in April and boosted risk sentiment. Bullish continuation pattern is developing on weekly chart as cable broke through key resistances at 1.3434/44 (2024/2025 tops), with…