Author: FX
GBP/USD Price and AnalysisGBP/USD edged back above the 1.2600 line.Markets are pretty sure US rates will start to fall in June.US Durable Goods orders will be the next trading hurdle. Recommended by David Cottle How to Trade GBP/USD The British Pound inched back above the 1.26 mark against the United States Dollar in Monday’s European session as expectations of June interest-rate cuts sent the Greenback broadly lower.Recent commentary from the Federal Reserve has left markets pretty sure that this year will see borrowing costs fall, possibly quite substantially. The Chicago Mercantile Exchange’s ‘Fedwatch’ tool now shows markets all but certain…
GBP/USD rebounds from near recent lows just under 1.2600. Economists at Scotiabank analyze the pair’s outlook. Support on dips to the upper 1.2500s has been consistent recently Sterling’s rebound from Friday’s low (a little below the 200-DMA at 1.2592) looks a bit more meaningful than many of its peers on the day so far. Price signals are not obviously bullish on the intraday chart and trend momentum signals are aligned bearishly against the GBP on the intraday and daily oscillators. Still, support for the GBP on dips to the upper 1.2500s has been consistent recently and corrective gains in the…
Being successful, whether it’s in trading, business, or even in parenting, takes a lot of personal development. You are continually tested by your surroundings (the forex market, your employees or coworkers, your children). How you react before, during, and after these challenges all play a part in your success. As currency traders, we all have those days or weeks when things just don’t go our way. Our losses are overshadowing our wins, and we can’t seem to consistently win. We start to wonder if we can ever make any “real” money and if our goal of becoming a full-time forex…
Global stock indices lower on Monday Source link
Japanese Yen (USD/JPY) AnalysisBoJ minutes extend the ‘carry trade’ as officials rule out rapid rate hikesLike clockwork, Japan’s top currency diplomat voices dissatisfaction with recent yen volatility, weaknessIG Client sentiment ‘mixed’ despite massive short positioningThe analysis in this article makes use of chart patterns and key support and resistance levels. For more information visit our comprehensive education libraryBoJ Minutes Offer Scarce New InformationThe minutes from the Bank of Japan’s historic meeting where officials voted to end negative interest rates served up no new information. In fairness, this has been due to the open and transparent communication from the Bank in…
© Reuters. A trader counts U.S. dollar banknotes at a currency exchange booth in Peshawar, Pakistan January 25, 2023. REUTERS/Fayaz Aziz By Rae Wee and Harry Robertson SINGAPORE/LONDON (Reuters) -The dollar slipped on Monday, with the threat of currency intervention from Japanese authorities and a government-driven rally in weighing on the U.S. currency. The Japanese yen was slightly higher on the day and last stood at 151.29 per dollar, having bottomed at a four-month trough of 151.86 last week that left it within striking distance of a 32-year low near 152 per dollar hit in 2022. Japan’s top currency diplomat…
A shortened trading week ain’t gonna stop the markets from repricing their interest rate bets! While we don’t have a central bank decision on tap, a couple of anticipated data releases may support or weaken interest rate speculations for the major currencies. Before all that, ICYMI, I’ve written a quick recap of the market themes that pushed currency pairs around last week. Check it! And now for the closely-watched economic indicators on the calendar this week: This Article Is For Premium Members Only Become a Premium member for full website access, plus get: Ad-free experience Daily actionable…
There aren’t any significant expiries in play for the day ahead. As such, trading sentiment will continue to revolve around the mix of the technicals, risk mood, and broader market sentiment. So far today, there isn’t much to really work with as most markets remain relatively muted. But the dollar is still keeping poised, so keep an eye out for that at least.For more information on how to use this data, you may refer to this post here. Source link
USD/CAD attempts to continue its winning streak on Monday. Fed member Bostic forecasted only one interest rate cut instead of his earlier projection of two rate cuts in 2024. The higher WTI price might have provided support for the Canadian Dollar. USD/CAD maintains its position in positive territory after paring back some gains on Monday. The pair trades higher around 1.3600 during the Asian trading session, following hawkish remarks from Federal Reserve Bank of Atlanta President Raphael Bostic on Friday. Bostic adjusted his earlier projection of two interest rate cuts this year, now forecasting only one, citing persistent inflation and…
Anyone looking for a pullback on crude oil, too? Price has formed higher lows and slightly higher highs inside a rising wedge seen on its 4-hour time frame. Check out these support zones I’m seeing on the commodity’s chart formation! WTI Crude Oil (USOIL) 4-hour Chart by TradingView Crude oil seems to be in pullback mode after hitting the top of its wedge formation, finding some buyers at the 38.2% Fibonacci retracement level. Bulls have been keeping the uptrend intact for the past couple of months, thanks to the OPEC+ output deal extension and positive expectations for oil demand. Geopolitical tensions…