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The US dollar has shot straight up in the air against the Mexican peso as economic numbers in the United States continues to falter. For those of you who are new to the trading world, it probably doesn’t make any sense but if you think about it long enough, it does make a certain amount of sense that the US dollar actually performs better in poor economic conditions. It doesn’t matter that the US economy is slowing down as far as the US dollar is concerned in this pair. What does matter is that Mexico is an exporter to the United States and is currently the largest exporter in the world to the USA. Because of this, it’s the same thing as owning a store and having your clients lose their job. You can’t sell to somebody who isn’t buying. At this point, it looks like the United States could be slowing down, and that has an outsized effect on the Mexican economy. Swap Works Against You Keep in mind that the interest rate swap at the end of the day certainly favors the Mexican peso, so if y

The NZD/USD has had another solid spurt of upwards momentum develop in the past half day and sustained values near important mid-term resistance marks. The NZD/USD stumbled in early trading yesterday and touched the 0.61560 vicinity, but the move lower actually did not test Monday’s lows. And importantly the support level touched yesterday remained within sight of Friday’s highs. After touching yesterday’s low, the NZD/USD actually began to generate buying momentum. Economic data from the U.S continues to come in below expectations as signs appear to be growing the American economy is slowing. As of this writing the NZD/USD is near the 0.61818 ratio and this is noteworthy because the currency pair is within sight of yesterday’s highs which were achieved before the downturn. Support and resistance levels short-term are playing the usual cat and mouse game of give and take, but traders who look at a week’s, one month and even a three month chart can see a verifiable trend upwards that ha

DAX Forecast: Gives Up Initial Gains on Monday The DAX initially rallied during the trading session on Monday, but then melted down after the PMI miss in the United States has everybody banking on the idea that the economy is going to collapse, and we will all be dead in a week. Obviously, this is hyperbole, but at the end of the day, that’s essentially how the market is behaving. With that being in mind, I think that those who are going to be a bit patient will probably be rewarded for that patience. DAX Will Lead the Way The DAX will lead the way for the rest of the European indices, and I think you should continue to look at the DAX as the “bellwether index” for the European Union. After all, Germany is by far the biggest economic engine on the continent, and I think a lot of people will look at it through that prism. With this, I like the idea of buying the DAX on these dips, because I do think that it is probably only a matter of time before people start focusing on the idea of Ge

The US dollar initially tried to rally a bit during the trading session on Monday, but as the session dragged on, we started to see the Singapore dollar strengthen. We are currently trading around a couple of major moving averages, but the real problem during the session, at least as far as I can tell, was the PMI numbers coming out much weaker than anticipated. At least in the ISM manufacturing PMI figures. The S&P Global manufacturing PMI numbers came out better than anticipated, so it's a mixed bag. With that being the case, it does make a certain amount of sense that we may continue the overall consolidation. It's worth noting that we have sliced through the 200 day EMA, but it's flat anyway, so I don't know how much I read into it. A Magnet for Price The 1.35 area seems to be a bit of a magnet for price, and therefore I think could be your mean for the moment. Just have to wait and see. But right now, I think we're just trying to sort out whether or not we

Bitcoin Bitcoin has also been very noisy during the week, testing the $67,000 level for support at the end. Ultimately, this is an area that I think will continue to attract a lot of attention, but even if we were to break down below it, the actual “floor in the market” is closer to the $60,000 level, an area we had bounce from previously. If we can break above the $73,000 level, then it’s possible that we go much higher. NASDAQ 100 The NASDAQ 100 plunged during a huge part of the week, but it does look like it’s finding a little bit of support in an area that previously had been resistant. At this point, it looks like it is offering a little bit of value, but I would also be a bit cautious as there is so much volatility. The 17,850 level underneath should continue to be a massive support, right along with the 17,000 level. I am a buyer and not a seller, despite the fact that I am a bit nervous jumping in with a huge position at the moment. S&P 500 The S&P 500 fell during the

WTI Crude Oil saw the 80.000 USD level penetrated upwards on Wednesday of last week, only to falter and then begin a rather steady push lower. The price of WTI Crude Oil this week will begin trading near the 77.120 mark, this after touching a depth around the 76.640 ratio this past Friday. The ability to trade downwards and come within sight of values seen the previous Friday while testing mid-terms lows could prove to be significant. However, before traders rush into to say the dominant trend is downwards, they should acknowledge that a run higher early last week in WTI Crude Oil achieved a high of nearly 80.590 on Wednesday. The incremental move higher starting last week only to run into headwinds after month long resistance was tested is noteworthy. Also of importance is that OPEC will be conducting a meeting today to discuss pricing and production. WTI Crude Oil’s ability to move back to mid-term lows before the oil conference will spark intrigue and concerns in the minds of specul

The EUR/USD finished trading comfortably above the 1.08000 level this Friday, this as the currency pair and speculators await the European Central Bank’s rate decision this coming Thursday. The EUR/USD is set to begin trading near the 1.08475 mark early tomorrow morning. The currency pair enjoyed a rather solid test of its near-term price range the past handful of days and the ability to go into the weekend perched well above the 1.08000 level is likely being received by companies and investors with an interest in seeing a strong value for the EURO in a positive manner. A low of nearly 1.07860 was tested this past Thursday, but trading below the 1.0800 level proved to be momentary. The price action on late Wednesday ant into early Thursday while lows were tested and the ability of the EUR/USD to then incrementally rise is noteworthy. Also worth a technical glance is the notion that the 1.08100 ratio when tested briefly on Friday proved rather durable and a climb to a high of nearly 1.0