GBP/USD Eyes Sustained Increase Above
GBP/USD Eyes Sustained Increase Above GBP/USD is showing positive signs above the 1.2220 level. A connecting bullish trend line is forming with support at 1.2240 on the 4-hours chart. EUR/USD is well supported above the 1.0720 support zone. USD/JPY might attempt a recovery wave if it clears the 132.00 resistance. GBP/USD The British Pound gained […]
EUR/USD Approaches Key Support, Dollar Could Resume Losses
EUR/USD Approaches Key Support, Dollar Could Resume Losses EUR/USD started a downside correction from the 1.0930 level. It traded below a key bullish trend line with support at 1.0810 on the 4-hours chart. GBP/USD is consolidating gains above the 1.2200 support zone. USD/JPY extended losses below the 130.50 support zone. EUR/USD The Euro started a […]
RBA Board opens the door to a pause in April
RBA Board opens the door to a pause in April The Minutes emphasize a high degree of uncertainty; do not take into account the global banking disruptions; and point to a pause in April. The Minutes of the Reserve Bank Board meeting on March 7 highlight that unlike recent meetings when several policy options were […]
AUD/USD Rate Outlook Mired By Failure To Test
AUD/USD Rate Outlook Mired By Failure To Test AUD/USD appears to be reversing course ahead of the 200-Day SMA as it fails to clear the week high, but data prints coming out of Australia may prop up the exchange rate as job growth is expected to rebound in February. AUD/USD largely mirrors the weakness across […]
Sentiment Improves as China Data Boosts Hopes of 5% Growth
Sentiment Improves as China Data Boosts Hopes of 5% Growth China’s banks lent a record 4.9 trillion yen in January as the economy reopened from lockdowns. And there was some anticipation to see whether the new loans were making their way through the economy to aid the governments GDP target of around 5% this year. […]
Gold Price Rallies As SVB Failure Casts Doubt for Fed Rate Hikes
Gold Price Rallies As SVB Failure Casts Doubt for Fed Rate Hikes The price of gold carves a series of higher highs and lows following the failed attempt to test the February low of $1805, and the failure of Silicon Valley Bank (SVB) may continue to heighten the appeal of bullion as market participants scale […]
USD/JPY Outlook Mired by Failure to Test December High
USD/JPY Outlook Mired by Failure to Test December High USD/JPY appears to be reversing ahead of the December 2022 high 138.18 as it fails to hold above 200-day SMA, but the Bank Of Japan interest rate decision may curb the recent decline in the exchange rate as the central bank is expected to retain its […]
EUR/USD Takes Out February Low Ahead of US Jobs Report
EUR/USD Takes Out February Low Ahead of US Jobs Report EUR/USD takes out the February low following the failed attempts to trade back above the 50-day SMA, and developments coming out of the US may keep the exchange rate under pressure as the NFP report is anticipated to show another rise in employment. EUR/USD fails […]
The Week Head:- BOJ, RBA and BOC Meetings
The Week Head:- BOJ, RBA and BOC Meetings An exciting week for markets, with three major currency central banks announcing their monetary policy decisions and a Nonfarm payroll report. The RBA’s meeting on Tuesday is the most likely to be the live one, but don’t write off the BOJ’s ability of surprising market at Governor […]
EUR/USD Rebound Fizzles Ahead of 50-Day SMA
EUR/USD Rebound Fizzles Ahead of 50-Day SMA EUR/USD approaches the 50-day SMA as it extends the rebound from the February low 1.0533, but a slowdown in the Euro Area’s Consumer Price Index may drag on the exchange rate as it encourages the European Central Bank to winddown its hiking-cycle. The decline from the yearly high […]
GBP/USD Could Recover If Bulls Clear This Hurdle
GBP/USD Could Recover If Bulls Clear This Hurdle GBP/USD retested key 1.1920 support zone. A major bearish trend line is forming with resistance near 1.2060. EUR/USD is attempting a recovery wave above the 1.0600 resistance zone. Gold price is struggling to stay above the $1,800 support. The British Pound started a fresh decline from well […]
EUR/USD slides further as the Dollar gains steadily
EUR/USD slides further as the Dollar gains steadily EUR/USD extended its decline below the 1.0600 support. A key bearish trend line is forming with resistance near 1.0580 on the 4-hours chart. GBP/USD could dive if it breaks the 1.1920 support. Gold price is at risk of a move below the $1,800 support. The Euro started […]
USD/JPY Regains Strength
USD/JPY Regains Strength USD/JPY climbed higher above the 132.50 resistance zone. A connecting bullish trend line is forming with support near 134.50 on the 4-hour chart. EUR/USD slowly moved below the 1.0620 support zone. The US GDP grew 2.7% in Q4 2022, less than the 2.9% forecast. The US Dollar gained strength for a steady […]
FOMC Minutes Instant Insight
FOMC Minutes Instant Insight In their January meeting, Fed officials agreed to continue rate hikes until high inflation is controlled. The Fed is still attuned to the risk they may have to do more to keep inflation falling, a hawkish tilt that may come into more precise view when policymakers issue new interest rate and […]
RBNZ Monetary Policy Statement Feb 2023
RBNZ Monetary Policy Statement Feb 2023 The Reserve Bank raised the official Cash Rate by 50 basis points to 4.75%, and maintained its projection of a 5.5% peak in the coming months. There was almost no change to the projected OCR track compared to the November policy statement. The OCR is still expected to peak […]
European Flash PMI’s and Canada Inflation Report
European Flash PMI’s and Canada Inflation Report Australia’s ASX 200 index fell by -12.7 points and currently trades at 7,338.80 Japan’s Nikkei 225 index has fallen by -37.31 points and currently trades at 27,494.63 Hong Kong’s Hang Seng index has fallen by -207.23 points and currently trades at 20,679.73 China’s A50 Index has fallen by […]
EUR/USD Recovery Attempt Could Face Hurdles
EUR/USD Recovery Attempt Could Face Hurdles EUR/USD traded as low as 1.0612 and is currently correcting losses. A key bearish trend line is forming with resistance near 1.0685. GBP/USD is struggling below the 1.2120 resistance zone. Gold price is attempting an upside break above the $1,840 resistance. The Euro remained in a bearish zone below […]
NZD/USD Fails to Push Back Above 50-Day SMA
NZD/USD Fails to Push Back Above 50-Day SMA NZD/USD appears to be stuck in a narrow range as it holds above the weekly low, but the exchange rate may struggle to retain the advance from the January low as it fails to trade back above the 50-day SMA. Unlike the price action in January, NZD/USD […]