With the global economy in a recession, which started in 2019 with a manufacturing-led contraction, magnified by the Covid-19 pandemic in 2020, Singapore remained the most competitive economy for a second consecutive year.
The following are the most recent pieces of Forex technical analysis from around the world. The Forex technical analysis below covers the various currencies on the market and the most recent trends, technical indicators, as well as resistance and support levels.
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Mexican President López Obrador is under intensifying criticism for his government’s strategy in response to the Covid-19 pandemic.
Housing starts and building permits data out of the US disappointed yesterday, recovering less than economists predicted.
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Silver markets have initially fallen a bit during the trading session on Wednesday but found buyers underneath near the $17.50 level.
The US dollar has pulled back a bit against the Indian rupee during the Wednesday session, but quite frankly on Tuesday, we had broken out just enough to get through some minor resistance.
The West Texas Intermediate Crude Oil market gapped lower to kick off the trading session on Wednesday but then pulled back even further.
Gold markets have continued to show one thing over the last several months: that they are more than willing to step in and pick up gold every time it dips.
Despite the stronger than expected reading of the German ZEW index, the EUR/USD pair continued to decline, and accordingly, it took off towards the 1.1227 support before settling around the 1.1260 level at the time of writing.
Gold prices rose to offset the losses of the previous two sessions, as geopolitical tensions and Fed Chairman Jerome Powell's makes cautious statements about the economic recovery.
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During yesterday's trading, the GBP/USD pair attempted an upward correction.
During yesterday's session, the USD/JPY traded within a limited range that did not exceed 40 points.
The S&P 500 has rallied significantly during the trading session on Tuesday, especially during the Globex session as Asian and European traders jumped all over the S&P 500.
The Dax Index has continued to achieve gains in trading early this morning.
The US dollar rallied a bit during the trading session, reaching towards the ¥107.50 level.
While the USD/MXN trades in a rather well-practiced range, what looks particularly interesting is that resistance up above seems to have shown signs of becoming stronger and is causing reversals.