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Daily Report: Dollar Firm as DOW Hit RecordDollar stays firm against Euro and Swiss Franc following yesterday's rally, but it's paring some gains against the yen in Asian session. Risk appetite pushed DOW to new record close of 17138.2, up 77.52 pts, but Asian indices didn't follow and are mildly lower at the time of writing. Fed chair Yellen hinted to the House Financial Services Committee that Fed is on track to start hiking interest rates in late 2015. And, Fed policymakers projected the federal fund rate to reach 1.00% by the end of next year. Nonetheless, she also emphasized "it would be a grave mistake for Fed to commit to conduct monetary policy according to a mathematical rule". And, "it is utterly necessary for us to provide more monetary-policy accommodation than those simple rules would have suggested." |
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| Featured Technical Report | |
USD/CAD Daily OutlookDaily Pivots: (S1) 1.0712; (P) 1.0753; (R1) 1.0783; More... USD/CAD lost some momentum ahead of 1.0813 resistance and retreated. But with 1.0693 support intact, further rise is still expected. Recent development suggests that the corrective all from 1.1278 could have completed just ahead of 1.0608 cluster support and the medium term trend line. Break of 1.0813 resistance, which is close to 55 days EMA now, would confirm this bullish case and target 1.0960 resistance and above. Though, below 1.0693 will dampen this bullish view and turn focus back to 1.0608 instead. |
| Economic Indicators Update |
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Remark: Due to holiday next week, next Candlestick and Ichimoku Trade Idea update will be made on 21 July (Monday). Candlesticks Intraday Trade Ideas Update Schedule (GMT): Elliott Wave Daily Trade Ideas Update Schedule (GMT): | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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