Nonfarm payrolls smash forecasts, reaffirming labor market strength But dollar unable to hold onto gains, as stock markets race higher Gold hits new record highs, defying rising yields and geopolitics US labor market sizzles The American economy continues to hum along, with the labor market still firing on all cylinders. Nonfarm payrolls rose by 303k […]
EURUSD fluctuates near its 50- and 200-day SMAs Forms two successive doji candles, unable to adopt a direction Momentum indicators strengthen but remain negative EURUSD experienced an aggressive decline before finding its feet at 1.0722, a region that also held strong in February. Despite its attempt to rebound, the pair has met strong resistance at the […]
Gold reaches 2,353.90 above 161.8% Fibonacci extension MACD and RSI move higher in overbought regions Gold prices are experiencing a fresh higher high today around the 2,353.90 level, successfully surpassing the 161.8% Fibonacci extension level of the downward move from 2,079 to 1,810 at 2,245. The bullish rally started after the rebound off the 1,984 […]
Earnings parade unofficially starts on April 12 with major US banks S&P 500 profit growth forecast at 5.1% y/y after downward revision Fluctuating expectations around Fed policy remain a key risk factor Investors hit the pause button Undoubtedly, the major US indices had a fantastic 2023, with the positive momentum being carried over to this […]
Gold stays in rally mode, even when dollar and yields rise Central banks and geopolitics among the main drivers Chinese demand and inflation hedging add extra support Is it a bird? Is it a plane? No, it’s gold! Gold entered a flying mode at the beginning of March, surpassing its previous record high of $2,135 […]
A dovish shift seems to be underway at the Reserve Bank of New Zealand Technical recession and falling inflation may pave way for 2024 rate cut Is a dovish hold on the cards at Wednesday’s meeting (02:00 GMT)? Weaker economy has been good news for inflation New Zealand’s economy shrunk in the final three months […]
Central bank decisions in Eurozone, Canada, and New Zealand Highlight will be the ECB – likely to signal a rate cut in June In US, the dollar will be driven by inflation stats and Fed minutes ECB meeting – Nearly time to cut The Eurozone economy has gone through a rough patch over the […]
GBPUSD retests mid-level of the range at 1.2670 20- and 50-day SMA post bearish cross Technical oscillators move sideways GBPUSD is losing momentum again after the pullback off the bearish crossover within the 20- and 50-day simple moving averages (SMAs) near the 1.2670 resistance level. The pair is testing the long-term ascending trend line and […]
EURUSD pulls back from two-week high Technical bias is not bearish yet EURUSD gave up some ground on Thursday after a sharp rally from a one-and-a-half-month low of 1.0723 to a two-week high of 1.0875. The US nonfarm payrolls report is on the agenda today and investors will look at whether jobs growth slowed down to 212k and […]
Hawks dominate latest round of Fed speak; stocks slip, dollar rebounds But rate cut odds little changed as US jobs report awaited Yen firms after Ueda opens door to more rate hikes Oil extends gains on geopolitical tensions, but gold pulls back Fed officials cast doubt about rate cuts Fresh uncertainty about the timing and […]
GBPJPY is in the red again today, not far from its recent high It has dropped below the January 2, 2024 ascending trendline Momentum indicators are in waiting mode for the next key market events GBPJPY is trading lower again today as the market is preparing for today’s US labour market report, which could play […]
USDCAD bounces off 200-day SMA MACD and RSI are still weak USDCAD is moving slightly higher following the rebound off the simple moving averages (SMAs), remaining within a short-term ascending channel. Technically, the MACD oscillator is holding beneath its trigger line and near the zero level, weakening its momentum, while the RSI is pointing marginally […]
The 10-year US yield is a key determinant of FX moves It tends to drop when the Fed prepares to cut its interest rates Despite market expectations about the Fed, the 10-year US yield remains high A stock market correction could be a catalyst for a sizeable drop in US yields The 10-year US yield […]
USDJPY edges higher again today, back above 150.15 Increased pressure on Japanese authorities to intervene Mixed momentum indicators complicate the outlook USDJPY is higher again today after bouncing off the lower boundary of the ascending trending channel that has been in place since mid-March. The announcements at last week’s Bank of Japan meeting have done little […]
Walt Disney will unveil its fiscal Q4 earnings on Wednesday after the closing bell Cost cutting and price hikes likely boosted earnings per share But slowing revenue growth and downbeat guidance may weigh on the stock Trouble at the top The Walt Disney Company (Disney) has been undergoing a significant overhaul this year as returning […]
Surprise indices are an easy way of mapping the current state of an economy Our index confirms that the US economy has been losing steam the past few weeks Could EURUSD moves be explained by our surprise indices? Theory states that the price of financial assets should reflect the underlying economic conditions in the respective […]
XM completed yet another successful seminar in Dubai on 30th September, titled Technical vs. Fundamental Analysis – Finding the Best Strategy for Trading . It was an opportunity for participants to dive deep into technical and fundamental analysis and learn from Senior Market Strategist at Tradepedia and which approach aligns better with your trading goals […]
Dollar regains some lost ground as US yields bounce back Gold and oil edge lower – geopolitical risks getting priced out? Aussie sinks despite RBA rate increase, Fed speakers ahead Dollar back in the ring Global markets continue to grapple with a variety of risk factors, from geopolitical tensions to a softer economic data pulse, […]
EURJPY makes new 15-year high Intervention threat has not dented bullish appetite Bullish momentum indicators but exhaustion signs appear EURJPY is edging higher today, trying to record its fourth consecutive green candle. It has made a new 15-year high after finally managing to surpass the 159.64 level that has greatly been troubling the bulls over […]
GBPUSD trims gains after rejection from 200-SMA Buying appetite falls; support at 1.2260-1.2300 GBPUSD could not find enough buyers to expand Friday’ bull run above its 200-day simple moving average (SMA), closing with marginal losses within the 1.2300 area on Monday. Given the current negative momentum in the price, the question now is whether […]
AUDUSD claims 0.6400 zone after fast rally Short-term bias positive, but there are more threats higher RBA to raise interest rates, but the aussie may not gain AUDUSD breached the tough 0.6430-0.6450 zone with strong momentum to rise straight up to the August bar of 0.6520 last Friday. The possibility of a rate hike […]
UK GDP in focus this week; pound could significantly benefit from a strong print RBA meeting and Chinese data could push aussie even higher against the US dollar USDJPY could break below its upward trending channel if Japanese data improve UK GDP Q3 print -> EURGBP The Bank of England kept its main bank rate […]
AUDJPY enjoys fastest weekly growth since June Risk skewed to the upside, but gains could be limited RBA policy announcement due on Tuesday at 03:30 GMT AUDJPY has turned its eyes back to June’s peak of 97.65 after a constructive week of strong gains. The RSI and the stochastic oscillator are warning that the latest […]
Dollar pummeled after disappointing US employment data Stock markets rally, but gold fails to capitalize on falling yields Australian interest rate decision and Chinese trade data next Dollar hammered after NFP A disappointing US employment report inflicted some serious damage on the dollar last week. Nonfarm payrolls clocked in at 150k in October, missing the […]
Gold extends last week’s sideways move below 2,000 Bullish structure in progress above 1,980 Gold shifted to a sideways pattern after its impressive rally from a seven-month low of 1,800 run out of steam slightly above the 2,000 mark. The consolidation phase seems to be developing within a bullish pennant formation, feeding hopes that the bulls have more fuel […]
USDCAD plummets on the back of disappointing NFP data Negative sentiment strengthens; eyes on 1.3680 USDCAD extended Thursday’s freefall below its 20-day simple moving average (SMA) and the 1.3700 round level after US employment growth clocked in lower at 150k than analysts expected. Technically, the short-term bias is leaning on the bearish side as […]
AUDUSD breaks familiar resistance zone after dissapointing NFP data Technical signals improve, but some caution necessary AUDUSD rose rapidly in the wake of a weaker-than-expected US jobs report, crossing above the long-term constraining line from the 2020 low at 0.6450 after a couple of failed attempts. The RSI has finally advanced above its 50 […]
Reserve Bank of Australia could raise rates on Tuesday Chinese trade and inflation stats also in the spotlight UK economy likely contracted in Q3 – can sterling hold on? RBA decision will be a close call With most of the major central bank decisions in the rear-view mirror and volatility in bond markets coming […]
GBPJPY resumes muted tone despite bullish breakout Nearby support levels keep the focus on the upside GBPJPY could not capitalize from Tuesday’s surge above the short-term resistance trendline, staying muted around the 183.55 area. The RSI is above its 50 neutral mark, although weaker, and the MACD is keeping its footing above its red […]
US 500 cash index trades sideways today after strong rally Impressive weekly rebound amidst key market events Momentum indicators cautiously supportive of current upleg The US 500 cash index is trying to record its fifth consecutive green candle and further increase the 5% jump recorded this week. It is now preparing to test the resistance […]
