USDCAD in an aggressive decline from its 5-month high of 1.3693 Dives beneath the 200-day SMA, but the 50-day SMA holds its ground for now Momentum indicators suggest more pain in the short term USDCAD has been undergoing a strong downside correction from its five-month peak of 1.3693 recorded on September 7. In the last couple of […]
Oil prices stage impressive rally, driven by a classic supply shortage This occurred despite worries of lower demand from Europe and China Risk is that US ramps up production, putting an expiration date on this rally Crude deficit Oil prices went through the roof in recent months as the market encountered a serious supply deficit, […]
Bitcoin drops 1.8% on Thursday following a hawkish a FOMC meeting Experiences a strong technical rejection at the 50-day SMA on the daily chart Cryptos expected to extend their rangebound pattern in the absence of any major catalyst Fed inflicts severe damage to risky assets Cryptocurrencies started the week on the front foot, with Bitcoin […]
PCE inflation to grab attention on Friday as Fed signals higher for longer But markets might be more worried about a government shutdown Eurozone flash CPIs will also be the in the spotlight on Friday Chinese PMIs to be watched for recovery signs Will core PCE add to second inflation wave worries? The latest spike […]
Mayhem in US bond market spills over into stocks Dollar struggles to advance despite soaring yields Sterling sinks on BoE decision, yen retreats after BoJ US yields leap higher The storm in US bond markets has evolved into a hurricane, inflicting deep wounds on riskier assets such as stocks. Yields on US government bonds have […]
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USDCAD is in the red today, tests the support of the 200-day simple moving average The mixed momentum indicators complicate the outlook The SMAs’ convergence could open the door to a sizeable move ahead USDCAD is moving lower today after bouncing off the July 14, 2023 upward sloping trendline. The downleg since the September 7, […]
GBPJPY slid below 50-day SMA after BoE surprise decision to hold rates steady Remains in a gentle downward path despite today’s bounce after BoJ leaves policy unchanged Will the short-term pullback extend? GBPJPY had been stuck in a prolonged uptrend since the beginning of the year, posting an eight-year high of 186.75 on August 22. However, […]
Slide in oil doesn’t last long as bulls remain in control But further gains will depend on whether 50% Fibonacci can be overcome WTI oil futures (cash) are heading higher on Thursday, reversing an earlier decline to a one-week low of 88.96. The price brushed a 45-week peak of 93.08 on Tuesday, extending the year-to-date […]
GBPUSD in the red again today and registering a new 6-month low A strong bearish trend is in place since the July 14, 2023 high Momentum indicators clearly support the current downleg GBPUSD is edging lower again today, recording the lowest print since March 27, 2023 and hovering around the 50% Fibonacci retracement of the […]
Intel share price nosedives days after hitting 40.00 Momentum indicators point to further losses in short term But medium-term bullish structure intact for now Intel stock tumbled in the past two sessions, losing about 8.75% of its value. Crucially, the price has slid below both its 20- and 50-period simple moving averages (SMAs), signalling a […]
Fed revises rate path higher, lifting dollar and yields Stock markets and gold move lower in the aftermath BoE decision today a coin toss, BoJ unlikely to move Fed commits to higher for longer The Federal Reserve kept interest rates unchanged yesterday, as widely expected, but revised its economic forecasts and interest rate projections higher. […]
The US 100 index is edging lower today, testing the support of the 100-day SMA Bears are trying to recover part of their significant losses since the March 2023 lows The pullback could continue according to the momentum indicators Recent market events have changed the sentiment in the US 100 cash index and the bears […]
BTCUSD remains perky after bouncing off 25,000 support But 50-SMA proving to be a difficult obstacle to overcome Can Bitcoin maintain its recovery? BTCUSD (Bitcoin) has extended its rebound from the September 11 low of 24,920. However, the upside pressure has started to wane after coming into contact with its 50-day simple moving average. The […]
AUDUSD is edging lower today, reacting to yesterday’s key event The pair remains very close to the new 2023 low registered on September 6 The momentum indicators appear to support the downleg at this juncture AUDUSD is experiencing its second straight red candle, canceling out most of the upleg recorded since the September 6 low. The overall […]
Investors see rate cuts by the ECB, despite post-meeting hawkish rhetoric Eurozone prel. PMIs the next piece of information that could shake those bets Euro could slide if the PMIs disappoint when released on Friday, at 08:00 GMT After ECB meeting, the market sees rate cuts for next year Last week, the ECB decided to […]
EURUSD is edging higher today as market participants prepare for today’s event It tested the May 31 low but now appears to be heading towards the 1.0720 level SMAs’ convergence is potentially opening the door to an imminent strong move EURUSD is hovering below the busy 1.0720-1.0727 area as market participants are in waiting mode […]
Stocks slide as Treasury yields advance ahead of FOMC rate decision Worries over chip demand outlook casts shadows over AI growth prospects Instacart validates tech IPO resurgence, but can the excitement last? Surging yields bite stocks as inflation fears re-emerge Undoubtedly, the main event of the week is the FOMC interest rate decision later on […]
148.00 barrier proving difficult to overcome Still plenty of upside to achieve a break higher But bullish bias is showing signs of abating USDJPY has been knocking on the door of the 148.00 handle for the past couple of weeks but to no avail. It’s made somewhat more progress today, crawling slightly above that level. […]
Amidst a very busy week, the BoJ holds is sixth rate-setting meeting Market is not expecting fireworks; there is increasing commentary about negative rates The decision will come on Friday 03.00 GMT, press conference shortly afterwards The week is expected to close on a high note The Bank of Japan is holding its sixth meeting […]
Dollar trades cautiously ahead of Fed decision Yen extends slide despite fresh intervention warnings Pound slides after lower-than-expected UK CPI data Wall Street ends in the red as investors turn to Fed Will the Fed add fuel to the dollar’s engines? The dollar continued trading in a cautious manner, gaining some ground only against the […]
EURUSD continues to exhibit low volatility ahead of today’s Fed meeting It tested the May 31 low and bounced higher but remains below the 1.0720 level Bearish sentiment lingers but the SMAs’ convergence points to an imminent strong move EURUSD is hovering below the 1.0720-1.0727 area as market participants are preparing for today’s significant Fed […]
NZDUSD halts decline at a fresh 9-month low of 0.5858 Hovers around 61.8% Fibonacci retracement of the 0.5510-0.6535 upleg in the past three weeks Positive momentum is picking up, increasing odds for an upside violation of the recent range NZDUSD had been stuck in a downtrend after posting a five-month high of 0.6410 in mid-July, which resulted […]
CHFJPY consolidates after reaching all-time high Short-term bias looks neutral But downside risk if 50-day SMA doesn’t provide support CHFJPY has been drifting somewhat lower during September as the year-to-date uptrend lost its steam after reaching an all-time high of 166.57 on August 30. The short-term picture is neutral as the RSI has flatlined just […]
Silver trades between trendlines that form a triangle Outlook is neutral, moving averages have flattened Break on either side of triangle will reveal next big move Silver prices continue to trade within a symmetrical triangle pattern, formed by a longer-term uptrend line drawn from the lows of September 2022 and a downtrend line connecting the […]
New Zealand GDP expected to rise in Q2 after technical recession But China woes and high interest rates to weigh on outlook still Kiwi hoping for much needed lift when data is out Wednesday, 22:45 GMT Return to growth after shallow recession As the debate rages about whether major economies such as the United States […]
USDJPY is hovering around its 2023 high ahead of this week’s key events Bulls remain in control, but the stochastic oscillator could signal a reversal soon Intervention rumours could also help the bears stage a move towards 144.99 USDJPY continues to trade at extremely elevated levels as market participants are gearing up for the imminent […]
Bank of England set to raise interest rates this week Mixed economic data, so commentary could be cautious Risks for British pound seem tilted to the downside Decision expected at 11:00 GMT on Thursday Weaker data pulse The United Kingdom economy seems to be losing steam, with recent data releases showcasing a severe slowdown in […]
EURJPY stuck in a tight range during September Hovers just below 15-year peaks supported by 50-day SMA Momentum indicators tilt to the bullish side EURJPY has been in a prolonged uptrend since the beginning of the year, posting a fresh 15-year peak of 159.75 on August 31. Since then, the price has been trading without a […]
