Author: FX
The GBPUSD has moved back to the downside in what has been a down and up and back down again type of day. In the fall, the price has moved back below the 50% midpoint of the move up from the March 1 low to the March high. That comes in at 1.27462. The move lower has reentered a swing area between 1.2729 to 1.2735. The low just reached 1.27309. The buyers have once again slowed the fall in the lower swing area. It will take a move below to increase the bearish bias. If done, the rising 100-bar MA…
US DOLLAR FORECAST – EUR/USDEUR/USD moves without directional conviction ahead of next week’s FOMC decisionThe Fed is seen keeping interest rates steady, but there is no consensus on guidanceThis article looks at EUR/USD’s technical outlook over the coming trading sessionsMost Read: US Dollar Soars on Inflation Risks as Fed Looms; EUR/USD, GBP/USD, USD/JPY SetupsThe U.S. dollar was broadly flat against the euro on Friday (EUR/USD 0.0% at 1.0885) after a strong showing in the previous session, despite an uptick in U.S. Treasury yields, with many traders opting to stay on the sidelines and avoid large directional bets ahead of next…
EUR/USD has fallen to the 1.0800s, close to a critical level for the short-term trend. Further weakness could tip the near-term outlook in favor of bears. Empire State Manufacturing, Michigan Sentiment, US Industrial Production and commentary from ECB’s Nagel round off the week. EUR/USD is trading in the 1.0800s on the last day of the week after taking a step down from its previous range in the 1.0900s. The catalyst seems to be a mixture of better-than-expected US macro data and ECB’s chief economist Philip Lane pushing back on early rate-cut expectations. US data on Friday in the main built…
The US Dollar locks in gains for this week after hotter-than-expected US CPI and PPI figures. Traders are pushing the initial Fed rate cut towards September. The US Dollar Index trades at a crucial pivotal level that could unlock 104.00. The US Dollar (USD) trades in the green on Friday after markets got shaken on Thursday after a badge of US economic data suggested inflation pressures are far from over. A textbook panic attack took place in markets, with risk assets such as equities and Bitcoin selling off, yields jumping higher with bonds being sold and the US Dollar strengthening against…
Graphjet Technology (NASDAQ:GTI) rose 8.6% in its first day of trading after merging with SPAC Energem. Graphjet has the world’s first patented technology to recycle palm kernel shells generated in the production of palm seed oil to produce single layer graphene and artificial graphite. The Graphjet merger with SPAC Energem was first announced in August 2022. The deal comes at a crucial time for Graphjet after China banned the export of graphite last year and the company is hoping to take advantage of that opportunity, CEO Aiden Lee told Seeking Alpha in an interview last week. Graphje is backed by…
US Dollar Price, Analysis, and Charts Recommended by Nick Cawley Building Confidence in Trading The latest US PPI report showed that wholesale inflation remains sticky, denting the recent disinflation story. US y/y inflation rose 1.6% in February, above market expectations of 0.9% and a prior month’s revised 1.0%. According to the US Bureau of Labor Statistics,’On an unadjusted basis, the final demand index advanced 1.6 percent for the 12 months ended in February, the largest rise since moving up 1.8 percent for the 12 months ended September 2023. In February, nearly two-thirds of the rise in final demand prices can…
© Reuters. In a recent transaction on March 13, an insider at Celsius Holdings , Inc. (NASDAQ:), a key player in the bottled and canned soft drinks industry, has sold a significant number of shares. The transaction was disclosed in a mandatory filing with the Securities and Exchange Commission. The reporting owner, identified as Dean DeSantis, who is a ten percent owner of the company, sold 100,000 shares at a price of $95.7535 per share, resulting in a total sale value of approximately $9.58 million. Following the sale, DeSantis still owns 219,257 shares of Celsius Holdings, Inc., indicating a continued…
USDThe Fed left interest rates unchanged as expected at the last meeting and dropped the tightening bias in the statement.The US CPI and the US PPI beat expectations for the second consecutive month.The NFP report beat expectations on the headline number, but the unemployment rate and the average hourly earnings missed notably. Moreover, the US Jobless Claims yesterday beat expectations across the board with a big positive revision to Continuing Claims. The latest US ISM Manufacturing PMI missed expectations by a big margin remaining in contraction with the US ISM Services PMI following suit but holding on in expansion. The…
USD/JPY News and AnalysisRengo announces highest wage increase in 30 yearsBoJ maintains longer-term uptrend and prices continue to riseRemaining central banks to meet next week: BoJ, RBA, Fed, BoEThe analysis in this article makes use of chart patterns and key support and resistance levels. For more information visit our comprehensive education library Recommended by Richard Snow How to Trade USD/JPY Rengo Announces Highest Wage Increase in 30 YearsRengo announced a wage agreement at 5.28% – the largest increase in the last 30 years as conditions begin to align for the Bank of Japan (BoJ) ahead of next weeks policy meeting.…
AUD/JPY faces headwinds on market anticipation of a shift in the BoJ’s policy stance. Reuters cited news agency Jiji that the BoJ plans to end its negative interest rate policy. RBA maintains its potential stance for further rate hikes ahead of the policy decision on Tuesday. AUD/JPY trims some of its daily losses and trades lower around 97.50 during the European hours on Friday. The AUD/JPY cross faces headwinds as the Japanese Yen strengthens, driven by market anticipation of a potential shift in the Bank of Japan’s policy stance, following reports of major Japanese companies fully responding to union demands for wage…