Following encouraging evidence on Britain’s industrial output on Friday, the upcoming data on consumer prices on Tuesday are expected to show that British inflation continues to grow above the BOE’s target and likely pushing the pound higher. However, inflation drivers are not demand-led but a result of exchange rate weakness, challenging the BOE Governor, Mark […]
In the absence of major economic releases during today’s European session trading, forex markets were focused on upcoming data, a central banking conference set to take place tomorrow and developments on the political front, in particular Brexit and the US tax reform. Sterling was the worst performing major currency. The dollar’s index against a basket […]
Weekly Technical Analysis of the Forex Markets – to guide your trading using technical indicators such as moving averages, RSI, Fibonacci, Ichimoku. Related Posts:Weekly Technical Outlook: 15/04/2024 – GBPUSD, USDJPY,… April 15, 2024 Our weekly #TechnicalAnalysis looks at the key events that are…Weekly Technical Outlook – GBPUSD, USDJPY, AUDUSD April 15, 2024 Will UK CPI […]
Gold has been maintaining a neutral bias for just over a month now after entering a consolidation phase. The downtrend from a multi-month high at 1357.47 has not shown signs of reversal yet as the market remains well below the mid-point of this decline to 1260.59. Prices are currently trapped below the 23.6% Fibonacci retracement […]
In Asian equities, the Japanese Nikkei 225 and Topix indices finished the day lower by 1.3% and 0.9% respectively, further distancing themselves from the multi-decade highs recorded last week. The Nikkei recorded its worst daily performance since May. Hong Kong’s Hang Seng added 0.2% to finish at its highest in almost ten years and the […]
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Forex markets were relatively quiet on Monday as economic releases were limited. However, political challenges in the UK during the weekend, pressured the pound, while the dollar managed to gain ground as investors were widely expecting a third Fed rate hike despite continuing uncertainties around the US tax overhaul lingering in the background. An article published in the Sunday Times over the weekend […]
EURUSD maintains a neutral bias in the short term and has not changed much since entering a range two weeks ago. The market is showing signs of stabilization as the sell-off has slowed somewhat over the past couple of weeks. There has been a lack of a trend following a break below the neckline (1.1600) of […]
The dollar was on track to finish the week in the red against its major counterparts after three weeks of rising as uncertainties around the US tax overhaul continued weighing on the markets and disappointing readings on the Michigan Consumer sentiment also pressured the dollar. On the other hand, the pound was the biggest winner during the European session as […]
Economic data will move to the forefront next week as the focus moves away from central bank meetings to price, employment and consumer spending indicators. Canada, the Eurozone, the UK and the US all release CPI numbers. Jobs reports are due from Australia and the UK, and retail sales figures will be published in China, […]
Watch our ”Weekly Forex Review and Outlook” to catch up on the past week’s main events and their impact on major currencies and also find out what important economic data will be coming up in the future. Related Posts:GBP/USD: Will sterling hold steady against dollar? April 15, 2024 The UK economy is recovering from a […]
EURCHF has been making lower tops and bottoms since October 26, stretching its downtrend to a three-week low of 1.1526 on Thursday. The pair is currently trading with a neutral bias on the four-hour chart, but risks remain to the downside in the short-term. The pair is capped by the 20-period MA below the Ichimoku cloud, sending bearish […]
Following yesterday’s sharp reversal that saw the Japanese Nikkei 225 and Topix indices retreat from multi-decade highs, the two benchmarks extended losses today, finishing lower by 0.8% and 0.7% respectively. Hong Kong’s Hang Seng lost 0.05%, staying near its highest in almost 10 years, while the Shanghai Composite added 0.2% to record a near two-year […]
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Get your daily market and Forex news analysis from leading Forex and market news analysts only at http://www.xm.com/market-analysis-video Professional Forex news analysis on all major currencies: (EUR/USD) (USD/JPY) (GBP/USD) (USD/CHF), (USD/CAD), (AUD/USD) Visit http://www.xm.com the international Forex broker. Related Posts:GBP/USD: Will sterling hold steady against dollar? April 15, 2024 The UK economy is recovering from […]
GBPJPY has been neutral since peaking at 152.85 in September, consolidating in a broad range above the mid-point of the rise from 141.34 to 152.85. Near-term risk is tilted to the downside as the market has dropped below the 200-moving average on the 4-hour chart. Immediate support is at 148.40, which is the 38.2% Fibonacci […]
US tax legislation was the main headline during today’s Asian session after the US Senate flagged a delay in corporate tax cuts on Thursday, pushing the dollar lower against its counterparts. Meanwhile, the aussie posted moderate losses after the RBA downgraded its forecasts on inflation. While the US President continues his trip in Asia, his team back in the US faces […]
USDCAD dropped to a fresh 2-week low as the pair comes under increasing pressure following a rejection at the 50% Fibonacci retracement level of the downtrend from 1.3793 to 1.2061. RSI is falling and suggesting further downside momentum is expected. The pair is approaching a key level at 1.2500, this being near the 50-day moving […]
In another mostly quiet day in terms of data releases, forex market participants’ attention remained firmly on the US tax reform front. Jobless claims and wholesale inventory data out of the US did generate some interest, though market reaction following the releases was subdued. Meanwhile, Brexit negotiations are resuming today. At 1526 GMT the dollar […]
The Japanese 225 index hit a multi-decade high of 23,414 earlier in the day before reversing to last stand 0.9% lower relative to yesterday’s close. Despite the decline, the index remains bullish in the short-term as indicated by technical indicators. The Tenkan-sen line being above the Kijun-sen line is a positive alignment pointing to bullish […]
NZDUSD made a recovery off the 0.6817 area, which is a level at the bottom of a multi-month range. On the 4-hour chart, the pair is slowly tracking higher in a slow sideways range. But the short-term outlook is looking bullish after a bullish signal was given by the crossing of the 20 and 50-period […]
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In an unusual day for Japanese equities, the Nikkei 225 finished the day lower by 0.2% and the Topix down by 0.25%. Earlier in the day, the Nikkei and the Topix added 2.0% and 1.5% at their highest, with the former exceeding the 23,000 mark for the first time since January 1992. While it wasn’t […]
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The kiwi recorded a strong rebound on late Wednesday, flying to a two-week high after the RBNZ left rates unchanged but raised expectations that future hikes might emerge earlier than anticipated. The aussie posted some gains early on Thursday as China, Australia’s main export partner, released stronger than projected annual CPI figures. As it was mainly expected, the […]
USDJPY has been range-bound during the past 2 weeks, trading at the top of a broader 7-month range. The short-term bullish phase has lost momentum as indicated by the RSI. The pair has been trading within a range of 112.95 and 114.73 since October 23 following a steady rise off the 108.00 area. Ichimoku cloud […]
In the absence of important data releases, the US tax story remained front and center during today’s European session trading. Housing data out of Canada did gather some attention. The Energy Information Administration’s (EIA) weekly report out of the US, which is due later in the day, has the capacity to generate some movement in […]
The EU 50 stocks index has turned bearish in the short term after the recent upleg became overstretched. The RSI is trending down after scaling overbought levels, pointing to a downside momentum in the near term. Further losses could see prices finding immediate support from the middle Bollinger band at 3638. A move to the […]
Get your daily market and Forex news analysis from leading Forex and market news analysts only at http://www.xm.com/market-analysis-video Professional Forex news analysis on all major currencies: (EUR/USD) (USD/JPY) (GBP/USD) (USD/CHF), (USD/CAD), (AUD/USD) Visit http://www.xm.com the international Forex broker. Related Posts:Analysis for EUR/USD on April 15th. Monday – a tough day for… April 15, 2024 The […]
