Author: FX
Share: AUD/USD ends week down 0.33%, unable to hold above 0.6600, range-bound. Struggle to sustain gains above 200-DMA (0.6576); potential for upward trend watched closely. Key supports at 0.6551, 0.6524; rebound above 200-DMA may aim for resistances at 0.6620, 0.6652. The AUD/USD finished Friday’s session on the back foot, down more than 0.15%, for a total of 0.33% losses in the week. At the time of writing, the pair ended at 0.6573, failing to stay above the 0.6600 figure, which exacerbated the Aussie’s drop below the key 200-day moving average (DMA). The pair extended its sideways trading, with…
It was one of those rangebound types of weeks in the forex market as currencies chopped around due to a busy forex calendar. Source link
Markets:CAD leads, JPY lagsS&P 500 down 0.1%US 10-year yields up 1.5 bps to 4.15%Gold down $1 to $2018WTI crude oil up $0.81 to $78.17The market didn’t know exactly what to do with the US PCE report. On the hawkish side, the headline PCE number wasn’t as cool as GDP suggested it could be and personal income was strong. On the dovish side, the core PCE headline was soft and the six-month annualized numbers are below the Fed’s target. The market initially went both ways but settled right around the middle.Bonds chopped as well but yields were ultimately led higher by…
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…
Global markets had a topsy-turvy run this week due to a busy news calendar, mainly on Chinese stimulus developments, earnings data, and major central banks’ decisions. Weekend headlines on geopolitical tensions greeted market players on Monday, triggering risk-off flows that accelerated when the People’s Bank of China refrained from taking action. A mostly positive U.S. earnings season sparked some risk-taking midweek, along with Chinese Premier Li Quiang’s calls for more decisive measures to stem the stock market rout. Soon enough, the spotlight shifted to flash PMI figures, inflation data, and top-tier U.S. reports, as well as their…
Share: The XAU/USD experiences a slight decrease, holding slightly above $2,018 with a minor pullback. Key indicators such as RSI and MACD demonstrate a subdued buying momentum, as bulls consolidate December’s rally. On Friday’s session, the XAU/USD was seen trading at $2,018, presenting a slight decline of 0.08% and closing a 0.55% weekly loss. After reaching a level of $2,135 in December, buyers have been largely taking a pause, suggesting a neutral to a bullish outlook on the daily chart. Despite some momentum observed in the four-hour chart, the indicators remain relatively weak. In addition, the USD recovery fueled by…
Share: EUR/JPY up 0.39%, rebounding from daily low as Yen weakens in FX market. Bullish harami pattern suggests upside potential; resistance at 161.00, then January 19 high. Downside risks if below Tenkan/Sen (160.55); next supports at 160.00, 159.69, 159.51. The EUR/JPY bounces off weekly lows late on Friday’s North American session and is up 0.39% as the Japanese Yen (JPY) remains the laggard across the FX space. At the time of writing, the cross-pair exchanges hands at 160.77 after reaching a daily low of 159.83. From a technical standpoint, price action in the last couple of days is…
I’m surprised that Trafigura was still transiting the Red Sea with oil but I suspect they won’t be anymore. The company said firefighting equipment on board is being deployed to control a fire caused in one cargo tank on the Marlin Luanda, which is an oil tanker.Marlin LuandaThe ship was reportedly carrying naphtha and headed to Malaysia.This is straight up terrorism, I hope the workers on the ship are safe. Source link
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…
Share: The ECB left the door open for data-dependent rate cuts, but remains tepid. Earnings beats helped equities shrug off Consumer Confidence miss. BoE, Fed the headline risks for next week. European indexes wrapped up Friday trading firmly in the green, shrugging off a dovish European Central Bank (ECB) and a downside miss in European Consumer Sentiment surveys after the ECB left the door open for data-dependency to trigger rate cuts earlier than the central bank is currently projecting. The ECB held rates flat this week, cautioning that discussions about rate cuts are still premature, but policymakers noted…