Overview:

Watch the video for a summary of this week’s news releases, a review of the USD Index, and complete Top Down Analysis of the EURUSD.

EURUSD Weekly:

Weekly support at 1.1751, 1.1704, and 1.1603, resistance at 1.1908.

On the weekly chart we have seen a minor one-week rally and then price has continued to decline forming a lower top in line with the double top pattern that has formed at the 1.2243 weekly resistance high.

Last week price closed on its low suggesting a continued decline this week.

Delta Variant Cases Growing; CAD, CHF, Asians Underperform

'No matter how correct our fundamental insights are,

we must get the price movement right in order to achieve material,

rather than purely intellectual, reward.'

- Warrior Trading.

That stalling equity look.

No get out of gaol card for Aussie dollar.

Even with a high banked population and a multitude of electronic payment options available, the average South African still use cash for daily purchases and payments with an estimated 78-80% of transactions being in cash.

Anton van der Merwe, the recently-appointed COO of Ukheshe Technologies, a fintech enablement partner that works with financial institutions to grow in the rapidly-expanding digital space, says that for these reasons alone, the opportunities for digital payments are set to boom.

FlexTrade Systems (@FlexTrade), a global leader in multi-asset execution and order management systems, and First Sentier Investors, a global asset management group focused on providing high quality, long-term investment capabilities to clients, today announced that the Flowlinx liquidity is available via FlexTRADER EMS. 

·       UK fintech Kroo has raised £17.7m from lead investor Rudy Karsan and others in a Series A funding round

·       Kroo is building a truly social bank that helps users reduce anxiety around finances and champion social causes and was named Best Newcomer in the 2021 British Bank Awards

·       Kroo will use the funding to support its mobilisation phase, grow its team and secure a full banking license.

Broadridge Financial Solutions, Inc, a global fintech leader, today announced that UBS has joined its transformative distributed ledger repo (DLR) platform.

Leading global AI-powered credit decision platform provider, Scienaptic AI announced that InRoads Credit Union has chosen to implement the company’s AI-powered platform to enhance its credit decisioning and underwriting capabilities for new and prospective members.

Validus platform gains further traction in fixed income

Eventus Systems, Inc., a leading global provider of multi-asset class trade surveillance and market risk solutions, announced today that LedgerEdge, the new global corporate bond trading platform built on distributed ledger technology (DLT), has selected Validus as the real-time trade surveillance platform for all of its markets upon their launch.