Author: FX

SlavkoSereda/iStock via Getty Images Crude oil closed with slight losses Friday a day after jumping to four-month highs, but prices still posted a ~4% gain for the week, helped by larger than expected drops in U.S. inventories for crude and gasoline, and a stronger demand forecast from the International Energy Agency. Continued plans for production cuts from OPEC and its allies as well as Ukrainian drone attacks on Russian energy facilities also supported crude prices this week. Front-month Nymex crude (CL1:COM) for April delivery fell 0.2% on Friday but ended +3.8% for the week at $81.04/bbl, and front-month May Brent…

The U.S. dollar got its shine back this week, leveling up off of fresh U.S. inflation data pointing inflation rates picking up the pace in February. Overall, FX outcomes did show a slight risk-off lean, but the usual correlations weren’t as strong with a lack of major catalysts and central bank speak, signaling individual narratives like BOJ’s potential rate hike and oil strength were driving factors as well. USD Pairs Overlay of USD vs. Major Currencies Chart by TradingView The U.S. dollar enjoyed a strong week overall, ending on a positive note. This performance was primarily driven by hotter-than-expected inflation reports…

The daily RSI shows a rise in selling traction, supported by the MACD depicting growing red bars. The hourly RSI indicates oversold conditions, signaling a potential pullback or bullish correction in the short term. Despite daily bearish tendencies, the pair still holds the 200-day SMA. The NZD/USD pair declined to 0.6086, with a significant 0.77% downturn in Friday’s session. The market sentiment leans heavily toward the sellers, however, there is a faint glimmer of hope for the buyers, as they still hold on to the 200-day Simple Moving Average (SMA). On the daily chart, the Relative Strength Index (RSI) has fallen…

Dow Jones follows other indices lower on Friday. UoM Consumer Sentiment Index ticked lower. June rate cut bets have edged down to 60%. The Dow Jones Industrial Average (DJIA) is down around half a percent as markets round the corner into the Friday closing bell with US equities broadly lower on the day. An extended pullback in the tech and telecoms sectors are dragging down the averages, with limited gains to keep the Dow Jones on-balance as markets buckle down for the weekend. According to the CME’s FedWatch Tool, rate futures are pricing in nearly a 41% chance of no rate…

The Greenback gears up to hold onto a 0.7% weekly gain. Sentiment data from the University of Michigan came in weak. On the bright side, Industrial Production data came in stronger than expected. The focus will now turn to next week’s FOMC meeting. The US Dollar Index (DXY) is registering slight gains at the level of 103.40 on Friday, rebounding from December lows amid rising US Treasury yields. This follows the release of hot inflation data this week. The resilience of strong economic indicators and a cautious stance from the Federal Reserve (Fed) against hasty easing offer potential for US…

Silver’s bullish streak leads above $25.00, defying broader market trends with over 1.40% gains. A new year-to-date high at $25.44 highlights XAG/USD’s resilience, with $26.00 now in sight as next resistance. Should Silver retreat below $25.00, a move towards $24.50 and potentially $24.01 could unfold, testing buyer strength. Silver’s price shines on Friday and registers solid gains of more than 1.40%, shrugging off Gold’s two consecutive days of losses. It rises 1.52%, trading at $25.18 a troy ounce at the time of writing. XAG/USD advanced even though the Greenback remains strong, underpinned by high US Treasury bond yields. XAG/USD Price…

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading and seek advice from an independent financial or tax advisor if you have any questions. Advisory warning: FOREXLIVE™ is not an investment advisor, FOREXLIVE™ provides references and…

The three major indices are closing lower both on the day and for the trading week. The declines are led by the NASDAQ index. A snapshot of the final numbers shows:Dow industrial average -190.91 point or -0.49% at 38714.76S&P index -33.37 points or -0.65% at 5117.10NASDAQ index -155.37 points or -0.96% at 15973.16For the trading week, the Dow Industrial Average was near unchanged. The NASDAQ index was the weakest of the three:Dow industrial average, -0.02%.S&P index -0.13%NASDAQ index, -0.70%Looking at the small-cap Russell 2000 index it rose today but was down sharply on the week:Russell 2000+8.146 points or 0.40% at…

AUD/USD cycles just north of 0.6550. Little Aussie data to chew on leaves AUD/USD in the lurch. Next week: double-header showings from RBA and Fed. The AUD/USD is churning just above 0.6550 as markets prepare for next week’s double feature from the Reserve Bank of Australia (RBA) and the US Federal Reserve (Fed). Both central banks are broadly expected to hold interest rates steady as investors focus on when rate cuts will come. According to the CME’s FedWatch Tool, money markets were recently thrown a curve ball, and bets of a June rate cut from the Fed have eased to…

With a relatively light economic calendar and little central bank speak to add volatility in between top tier data, traders seemed to make most of their moves around U.S. inflation updates, which this week, lessened the case for the Fed rate cut argument. This was characterized in the broad market by the rally in bond yields and the Dollar recovering from its recent beatdown, while equities, crypto and gold gave back a bit of their early March gains. This Article Is For Premium Members Only Become a Premium member for full website access, plus get: Ad-free experience Daily actionable…