Jiming Huang / Blog
As the USA and China continue to implement punitive duties, trade surplus records are occurring. China’s June surplus is estimated at USD 41.61 billion, its highest rate since the beginning of 2018, with exports slightly higher (+3.10%) and imports substantially lower (+6%; prior: +15...
The King dollar made a remarkable return on Friday after the US and China have signalled their intention to sit at the negotiation table. The New Zealand dollar performed the worst among the G10 complex as it fell 0.60% to $0.6740. The drop of June Manufacturing PMI – down to 52.8 from 54...
6099 is our pivot (invalidation) point. Our preference The upside prevails as Long as 6099 is support. Alternative scenario Below 6099, expect 5919 and 5812...
Pivot (invalidation): 1243.50 Our preference Long positions above 1243.50 with targets at 1249.00 & 1251.00 in extension. Alternative scenario Below 1243.50 look for further downside with 1241.00 & 1239.00 as targets...
Pivot (invalidation): 1.0000 Our preference Long positions above 1.0000 with targets at 1.0030 & 1.0060 in extension. Alternative scenario Below 1.0000 look for further downside with 0.9970 & 0.9940 as targets...
Pivot (invalidation): 112.35 Our preference Long positions above 112.35 with targets at 113.00 & 113.35 in extension. Alternative scenario Below 112.35 look for further downside with 112.00 & 111.65 as targets...
Pivot (invalidation): 1.3225 Our preference Short positions below 1.3225 with targets at 1.3150 & 1.3120 in extension. Alternative scenario Above 1.3225 look for further upside with 1.3255 & 1.3285 as targets...
Pivot (invalidation): 1.1695 Our preference Short positions below 1.1695 with targets at 1.1650 & 1.1625 in extension. Alternative scenario Above 1.1695 look for further upside with 1.1725 & 1.1760 as targets...
The Canadian economy is in good shape. Governor of the Bank of Canada (BoC), Stephen Poloz, is therefore in a difficult situation. With favourable economic data on one side and a potential trade war with its largest commercial partner on the other, economic policy lies in the grey zone...