USDX stuck in a steep uptrend since its 2023 bottom in July Battles with the 50.0% Fibonacci retracement of the 114.71-99.19 downleg Given that momentum indicators are pointing at overbought conditions, is a pullback in sight? The US dollar index (December Futures) has been in a steady recovery after bouncing off the 2023 low of 99.19 in July. […]
Silver hits multi-month lows but bears look exhausted A bounce above 21 could improve sentiment Silver extended Monday’s freefall to a seven-month low of 20.66 on Tuesday before turning slightly positive in the day during the early US trading hours. The slump in the price preceded the close below the one-year-old support trendline, but the metal […]
US performs better than other major economies After higher Fed rate projections, focus turns to US jobs data A still-tight labor market could further lift the dollar The data is coming out on Friday, at 12:30 GMT Hawkish Fed turbocharges the dollar With the US economy proving more resilient than other major ones and inflation […]
Dollar continues to rally, with help from rising yields Gold smashed lower, but stocks don’t get the memo Aussie hits 11-month low after RBA decision, RBNZ next Dollar shines bright King dollar has returned to rule over FX markets. The world’s reserve currency has staged a phenomenal rally in recent months, empowered by the stunning […]
GBPUSD stuck in a steep decline since mid-July, appearing unable to recover Records consecutive multi-month lows as the bulls remain on the sidelines Given that momentum indicators are pointing at oversold conditions, can the price bounce back? GBPUSD has been forming a structure of lower highs and lower lows since its 15-month peak of 1.3141. Meanwhile, […]
EURJPY leans to the downside after a defeat Technical signals flag more weakness ahead Potential support expected at 156.00 EURJPY could not enter the 158.00 territory as the falling 20- and 50-day simple moving averages (SMA) managed to cool upside forces once again. The broken support trendline from March and the short-term resistance line from […]
The US 100 cash index is edging lower today after four green candles The bearish series of lower lows and lower highs remain intact The momentum indicators point to a continuation of the current upleg The US 100 cash index is in the red today as the short-term bearish trend since the July 19, 2023 peak […]
USDJPY flirts with 2022-high levels Uptrend intact, but key resistance levels are nearby USDJPY has returned to where it was spotted a year ago, flirting with the 150.00 round level after printing a bullish doji candlestick at the lower band of the short-term bullish channel. The next target is the tentative resistance line drawn from […]
USDJPY prints new highs; hawkish Fed signals required to boost rally Will RBNZ’s policy approach help NZD/USD to stage a bull run? Gold gets hammered by Treasury yields; bearish but oversold US Nonfarm payrolls –> USD/JPY US lawmakers passed a last-minute deal during the weekend to avert a government shutdown until mid-November. With fiscal risks […]
· USDJPY prints new highs; hawkish Fed signals required to boost rally · Will RBNZ’s policy approach help NZD/USD to stage a bull run? · Gold gets hammered by Treasury yields; bearish but oversold 0:00 Intro 1:18 USDJPY 3:38 NZDUSD 6:11 Gold For more information on the topics discussed in this video, including detailed charts […]
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Gold prices fall further, pressured on multiple fronts Yen loses ground after Bank of Japan intervenes in bond market Dollar stable ahead of some key data and Fed chief Powell Gold realigns with fundamentals The final quarter of the year begins with familiar themes in global markets. A relentless rally in US bond yields driven […]
EURUSD stuck in a clear downward path, posting a fresh 8-month bottom of 1.0487 Formation of a death cross between 50- and 200-day SMAs could spell more trouble Despite latest rebound the momentum indicators remain skewed to the bearish side EURUSD has been in a steady retreat after peaking at the 18-month high of 1.1275 on July […]
The US 500 cash index is moving sideways again today The index bounced off the October 13, 2022 trendline The momentum indicators could signal a reversal soon The US 500 cash index is trading sideways today, hovering around the busy 4,270-4,310 area. The current downleg stopped at the long-term October 13, 2022 upward sloping trendline, […]
NZDUSD marches higher, surpassing the 50-day SMA Battles with 50.0% Fibonacci retracement of the 0.5510-0.6535 upleg Momentum indicators tilt aggressively to the bullish side NZDUSD had been stuck in a downtrend after posting a five-month high of 0.6410 in mid-July, which ceased at a fresh nine-month low on September 5. Since then, the pair has been […]
Bitcoin appears unsusceptible to stock market turbulence Ethereum gains 4% on Thursday over futures ETF approval rumors Regulatory and macroeconomic backdrop to stay in the driver’s seat Bitcoin steady despite stock market volatility This has been a relatively volatile week for financial markets, with stock indices selling off before rebounding as investors are bracing for a […]
Dollar charges higher, nonfarm payrolls on Friday will be crucial for this rally. Early indicators point to another solid month for the US labor market. Central bank decisions in Australia and New Zealand will also be in focus. 0:00 Intro 0:16 US Dollar 2:12 Nonfarm Payrolls 3:33 RBA and Aussie 4:42 RBNZ and Kiwi For […]
RBNZ expected to hold rates steady for the third straight meeting However, Q2 GDP data sparks hopes for another hike by year end Kiwi traders to look for changes in the Bank’s language The decision will be released on Wednesday at 01:00 GMT Stellar economic performance revives hike bets Back in August, the Reserve Bank […]
Dollar cruises higher, nonfarm payrolls on Friday will be crucial for this rally Early indicators point to another solid month for the US labor market Central bank decisions in Australia and New Zealand will also be in focus Dollar goes on a rampage The US dollar rally has gone into overdrive lately. Empowered by a […]
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US dollar eases from highs as bond yield rally pauses for breath Stocks headed for worst quarter in a year but techs lead rebound Eurozone and US inflation data in focus Fed speakers help take steam off yields rally Bond yields slipped on Friday as ‘higher for longer’ bets took a step back on the […]
Another RBA meeting but rate decisions will probably be postponed for later The aussie would like a hawkish statement from the new RBA governor The usual meeting statement will be released on Tuesday at 03:30 GMT RBA again in the spotlight The RBA is preparing for its 10th rate setting meeting for 2023 since the […]
USDCAD gives up weekly gains; might be due to a pullback Potential support could next emerge near 1.3400 US core PCE inflation index on the agenda USDCAD erased Tuesday’s bounce as the 20-day simple moving average (SMA) obstructed progress, forcing the price to ease towards its 50- and 200-day SMAs at 1.3450. This is also where […]
GBPAUD records another red candle, at lowest point since mid-July Aggressive bearish trend continues since August 17, 2023 peak Momentum indicators favour the current move but exhaustion signs could emerge soon GBPAUD is continuing its downward move with the bears appearing determined to recover a good part of the losses incurred during the September 2022-August […]
GBPJPY slid below 50-day SMA last week after BoE’s unexpected decision to hold rates steady Found its feet at the lower end of the Ichimoku cloud and has been directionless since then Are the bulls ready to re-take charge? GBPJPY had been stuck in a prolonged uptrend since January, posting an eight-year high of 186.75 on August […]
Ethereum has been in a consolidation phase for the past month Death cross between 50- and 200-day SMAs fails to induce downside pressures Momentum indicators suggest intensifying buying interest ETHUSD (Ethereum) experienced a strong pullback after peaking at 2,030 in mid-July, touching a six-month low of 1,513. Meanwhile, the digital asset has been directionless for […]
GBPUSD takes a breather after aggressive sell-off Recovery could continue, but the outlook remains? gloomy Next major resistance region around 1.2300 GBPUSD is hoping for a positive daily close after six consecutive losing sessions. The 1.2100 number put the brakes on the downfall on Thursday, helping the price to climb by 0.60% so far in the day. The stochastic oscillator and the RSI hint at oversold conditions, justifying […]
US equity indices retreat as investors face ‘higher for longer’ reality Wall Street’s fear gauge, VIX, posts a fresh 4-month peak Treasury yields surge to consecutive cycle highs, increasing appetite for bonds Bearish sentiment pervades Wall Street Equity markets have been under downside pressure lately as investors are bracing for a protracted period of high […]
AUDUSD extends downtrend Short-term outlook is gloomy, but recovery attempts still likely Eyes on 0.6300 ahead of RBA meeting AUDUSD plunged to a new 10-month low of 0.6330 on Wednesday, putting the downtrend from July back into play ahead of RBA’s policy decision on Tuesday. The clear bearish breakout below the 2020 support trendline has […]
Dollar extends gains on ‘higher for longer’ narrative Dollar/yen nears 150 zone, risk of intervention rises Oil skyrockets as US inventories tumble Wall street closes mixed despite rally in yields Fed’s Kashkari reiterates hawkish view The US dollar continued marching north against all but one of the other major currencies on Wednesday, gaining the most […]
