NZDUSD shows recovery signs ahead of RBNZ decision Resistance near 0.6070; support at 0.6000 NZDUSD entered the week on a positive note as investors awaited to hear the RBNZ’s policy update during Wednesday’s Asian trading hours. The pair stretched Monday’s rebound marginally above the 200-day simple moving average (SMA) to examine the 50% Fibonacci […]
Dovish BoE encourages more rate cut bets UK GDP for February expected to reveal slowdown The data comes out on Friday at 06:00 GMT Investors add to June rate cut bets after BoE decision With inflation in the UK coming down faster than previously expected, the Bank of England (BoE) appeared more dovish than expected […]
EURUSD recovers somewhat above 1.0800 But MACD and RSI rebounds lose steam EURUSD recorded a stunning rally last week, surpassing the flat simple moving averages (SMAs) following the bounce off the medium-term tentative uptrend line. This week, though, the pair is on the backfoot and the technical indicators suggest that the market could ease a […]
BoC monetary report due on Wednesday 13:45 GMT, press conference at 14:30 GMT Interest rates to remain steady this time, but policymakers might support a June rate cut USDCAD maintains soft uptrend, needs a clear close above 1.3600 to rally BoC closer to its inflation goal than its major peers The Bank of Canada […]
EURJPY rebounds off uptrend line Price holds above SMAs Oscillators indicate more bullish movements EURJPY is climbing higher after the turning point near the medium-term ascending trend line and is moving towards the 16-year high of 165.36. The market has been developing within an uptrend since December 7 with the technical oscillators confirming an upside […]
Gold prices remain near record highs – is the rally overstretched? Yen hovers at multi-decade lows, FX intervention still on the radar Dollar inches lower, stocks trade sideways, RBNZ meeting next All that glitters is gold The world’s oldest safe-haven asset has gone on a tear this year, rising more than 13% to reach consecutive […]
AUDUSD bounces off 200-period SMA RSI suggests some losses AUDUSD created consecutive green days after the bounce off the 0.6550 support level, which overlaps with the 200-period simple moving averages (SMAs) in the 4-hour chart. According to the technical oscillators, the RSI is moving marginally down in the positive region, while the MACD is still […]
GBPUSD trades sideways between parallel SMAs Remains within its medium-term neutral pattern Momentum indicators improve but stay in negative zones GBPUSD experienced a strong decline following its break above the rangebound structure in place since November. Despite the temporary violation of the 200-day simple moving average (SMA), the pair reversed back higher before the 50-day SMA curbed […]
The ECB meets on Thursday with strong indications for a dovish tilt Low chances of a rate cut being announced this week The euro could enjoy a short-term rally against the US dollar if ECB proves hawkish Decision will be announced on Thursday 12.15 GMT, press conference at 12:45 GMT The ECB meets this week […]
US CPI inflation expected to have ticked up in March But markets may shrug it off if core figure inches lower Data due at 13:30 GMT, Wednesday, will be followed by FOMC minutes at 18:00 GMT Will CPI report boost rate cut bets? Inflation data according to the CPI and PCE measures have started to […]
AUDUSD lacks clear direction MACD and RSI move horizontally AUDUSD is moving back and forth from the short-term simple moving averages (SMAs) which are standing near the 0.6540 number. The pair is also consolidating within the 0.6485-0.6635 range with the technical oscillators confirming this view. The MACD is moving horizontally below its trigger line and […]
USDJPY has been quiet within a range for a while. Is it time for action? EURGBP keeps looking for a bullish trend reversal as ECB rate decision looms USDCAD maintains positive structure ahead of an interesting BoC meeting US CPI inflation –> USDJPY Wednesday will be an inflation day in the US. The new […]
USDJPY has been quiet within a range for a while. Is it time for action? EURGBP keeps looking for a bullish trend reversal as ECB rate decision looms USDCAD maintains positive structure ahead of an interesting BoC meeting 0:00 Intro 0:41 USDJPY 2:18 EURGBP 3:32 USDCAD For more information on the topics discussed in this […]
US 500 creates some downside recovery Oscillators indicate bearish correction The US 500 cash index has lost some momentum in the preceding days, diving beneath the steep uptrend line, but the outlook remains bullish in the long-term view. Technically, the RSI indicator is flattening above the neutral threshold of 50, while the MACD dropped beneath […]
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 […]
Central bank decisions in Eurozone, Canada, and New Zealand. Highlight will be the ECB – likely to signal a rate cut in June. In US, dollar will be driven by inflation stats and Fed minutes. 0:00 Intro 0:16 ECB Meeting 1:55 Euro 2:59 US CPI and Fed Minutes 4:47 US Dollar 5:25 BoC and Loonie […]
Central bank decisions in Eurozone, Canada, and New Zealand. Highlight will be the ECB – likely to signal a rate cut in June. In US, dollar will be driven by inflation stats and Fed minutes. 0:00 Intro 0:16 ECB Meeting 1:55 Euro 2:59 US CPI and Fed Minutes 4:47 US Dollar 5:25 BoC and Loonie […]
Our weekly #TechnicalAnalysis looks at the key events that are expected to shake the #markets the most. This week, the focus is on #NFP report, Eurozone flash #CPI and Canadian #employment report and will be looking at how #USDJPY, #EURUSD and #USDCAD may react. 0:00 Intro 0:19 USDJPY 1:59 EURSD 3:34 USDCAD For more information […]
