Edward Hardy

The early start to ocean peak season is translating into the anticipated early come down on Asia-Europe lanes. Carriers are increasing blanked sailings for

Menzies Aviation has announced the launch of Quick Pay, a new payment capability on its Menzies Aviation Cargo Handling (MACH) customer portal, designed to

Changes which came into effect on 1 January 2026 introduced a new regional cumulation arrangement covering 50 African countries. The reforms allow qualifying

This looks like the first acknowledgement from Iranian press that it's Araghchi specifically that's meeting with the Pakistan interior minister:"*IRAN'S ARAGHCHI, PAKISTAN INTERIOR MINISTER HOLD TALKS: IRNA" - bbgFollows earlier headlines from the Pakistani DefMin who stated US-Iran are "close" to some arrangement

* Contentious and conflicting reporting over the future of the Strait of Hormuz continues to dictate play, however the overriding message for markets is one of status quo. Tuesday trade saw G10 FX trade almost entirely within the weekly range, with very few standout currencies on which to pin price action. * Risk saw support into the NY crossover as markets clung on to comments from the Pakistani Defence Minister, who stated that the signals are that the US and Iran are "close" to some sort of arrangement. Given Pakistan's position as interlocutor through previous phases of negotiation, the comment carried extra weight as Iranian press confirmed the travel of Pakistan's interior minister to Tehran. While the headlines are still well short of suggesting any imminent de-escalation, the price action serves a reminder that Iran headlines can drive AUD, CNH and EM FX strength in the near-term - although a dose of skepticism on lasting peace remains. * The USD Index traded rangebound, and has struggled to make progress through 100.00. This week's CPI print could help define the near-term trajectory, which sees resistance not only into the 100.00 handle, but 100.058 and, more consequentially, 100.521, the 50% retracement of the post-Fed bear leg. * Lastly, CAD traded generally well as oil prices edged higher and as CBC cited sources in reporting that Canadian and US trade officials had made progress on a potential trade deal to be submitted to Trump as soon as next week - giving both sides plenty of time to reach a new trade accord before the August 19th deadline - after which tariffs on Canadian goods flowing to the US rise to 50%. * This keeps the bear threat intact for USDCAD - a trend that's held for over a month now - and keeps focus on 1.3899, a Fibonacci retracement. Further progress through here signals potential for a deeper retracement of the May 1 - Jun 24 bull leg. * Outside of the US, the Wednesday schedule is very light. This keeps focus on the US inflation print for July - expected at +0.1% M/M, +3.4% Y/Y.

* RES 4: 0.8652 High Jun 26 * RES 3: 0.8632 76.4% retracement of the Jun 22 - Jul 15 bear leg * RES 2: 0.8601 61.8% retracement of the Jun 22 - Jul 15 bear leg * RES 1: 0.8588 High Jul 30 * PRICE: 0.8543 @ 16:46 BST Aug 11 * SUP 1: 0.8518/8455 Low Jul 22 / 15 and the bear trigger * SUP 2: 0.8443 2.236 projection of the May 18 - 25 - Jun 22 swing * SUP 3: 0.8400 Round number support * SUP 4: 0.8374 76.4% retrace of the Dec 19 '24 - Nov 14 '25 bull legDespite Monday's pullback EURGBP continues to trade closer to its recent highs. Note that medium-term trend signals highlight a bearish cycle and this suggests the latest recovery is likely corrective. Key resistance and a pivot level is the 50-day EMA at 0.8578. It has been pierced, a clear break of it would signal scope for a stronger recovery near-term. Key support and the bear trigger is unchanged at 0.8455, the Jul 15 low.

* RES 4: 185.56 76.4% retracement of the Jul 23 - Aug 3 bear leg * RES 3: 184.61 50-day EMA * RES 2: 184.01 20-day EMA * RES 1: 183.94 High Aug 10 * PRICE: 183.84 @ 16:56 BST Aug 11 * SUP 1: 181.33/179.37 Low Aug 7 / 3 and key support * SUP 2: 178.82 High Oct 30 2025 * SUP 3: 177.15 Low Nov 10 2025 * SUP 4: 175.29 38.2% retracement of the Feb 28 '25 - Apr 17 bull legEURJPY traded higher on Monday as the cross retraces the sharp sell-off between the Jul 29 - Aug 3 period. For now, gains are considered corrective. The next resistance points to monitor are 184.01, the 20-day EMA, and 184.61, the 50-day EMA. A clear break through this resistance zone would strengthen the current bounce. For bears, a reversal lower would refocus attention on 179.37, the Aug 3 low and key short-term support.

We use cookies This website uses cookies and other tracking technologies to improve your browsing experience for the following purposes: to enable basic functionality of the website

* RES 4: 1.4175 High Jul 13 * RES 3: 1.4129 High Jul 28 * RES 2: 1.4080 High Aug 4 and 5 * RES 1: 1.4027 50-day EMA * PRICE: 1.3924 @ 17:12 BST Aug 11 * SUP 1: 1.3923 Low Aug 11 * SUP 2: 1.3899 50.0% retracement of the May 1 - Jun 24 bull cycle * SUP 3: 1.3867 Low May 6 * SUP 4: 1.3817 61.8% retracement of the May 1 - Jun 24 bull cycleUSDCAD traded lower again Tuesday, confirming an extension of the bear leg that started Jun 24. The move down highlights a clear break of support around the 50-day EMA, at 1.4027. Scope is seen for a deeper retracement of the May 1 - Jun 24 bull leg. Sights are on 1.3899, a Fibonacci retracement. Note that it is still possible that the current bear leg is a correction - medium-term signals remain bullish. Initial resistance is 1.4027, the 50-day EMA.

* RES 3: 133.32 - High Mar '26 * RES 2: 130.66 - Low Jan 21 * RES 1: 127.72/128.42- 50-dma (cont) / High Jun 15 * PRICE: 126.58 @ 16:25 BST Aug 11 * SUP 1: 126.27 - Low May 20 and a key support * SUP 2: 125.70 - Low Feb 1999 * SUP 3: 121.49 - 50.0% retrace of the 1990 - 2020 major bull legResistance in JGB futures remains intact and the trend structure is bearish. A stronger resumption of weakness would expose 126.27, the May 20 low, where a break would confirm a continuation of the primary downtrend. Key near-term resistance is 128.42, the Jun 15 high. Clearance of this hurdle would instead signal a short-term reversal and highlight a potential break of the 50-dma - at 127.72.