Author: FX

To kickstart the US trading day, the above video takes a look at the technicals that are driving the three major currency pairs – the EURUSD, USDJPY, and GBPUSD. What are the technical bias’s, the risks, the targets and why will be discussed in this video. What we also know is the market price action is very limited today indicative of the market that is unsure of the next directional push. At some point there will be a shot that takes a price out of the narrow trading range. It is up to traders to know where those levels are…

Japanese Yen Prices, Charts, and AnalysisRising inflation and wage pressures seen.USD/JPY upside is limited.Learn How to Trade USD/JPY with our Complimentary Guide Recommended by Nick Cawley How to Trade USD/JPY In an interview with Reuters earlier today, Japan’s Deputy Chief Cabinet Secretary Hideki Murai said that early signs of rising inflation and wages were becoming evident in the economy, boosting market hopes that an end to Japan’s multi-decade era of ultra-loose monetary policy may soon be coming to an end.“We need to revitalise the economy by shifting away from one that prioritizes cost cuts to one where a positive cycle…

Share: Natural Gas prices are jumping higher in both the European and US futures markets.  US gas exports declined at the end of February, while some US producers are cutting output. The US Dollar Index trades around 104.00 ahead of Super Tuesday and US PMI numbers.  Natural Gas (XNG/USD) trades in the green for a second consecutive day on Tuesday after a Bloomberg report showed that gas exports are declining fast. Recent numbers revealed that both the US and Qatar saw their output falling by near 13% in the last week of February compared with a week before.…

Global stock indices lower after China sets target for 5% GDP growth Source link

© Reuters. A bale of hay hangs from Millennium Bridge in accordance with an ancient by-law requiring workers to warn river traffic of reduced head room below as it undergoes repairs, in London, Britain, October 18, 2023. REUTERS/Clodagh Kilcoyne/File Photo LONDON (Reuters) – British companies had their strongest month in February since May last year, suggesting the economy is out of a short recession, but inflation pressures will keep the Bank of England on alert, according to a survey published on Tuesday. The S&P Global composite Purchasing Managers Index, spanning Britain’ services and manufacturing sectors, edged up to 53.0 from…

Gold (XAU/USD) AnalysisGold Prices Surge Ahead of Key US Economic DataGold continues to build on gains over the last two trading sessions where the precious metal rose just under 3.5%, or by $70. Gold prices are not far from the all-time high reached in December of last year and the recent uptick in volatility has some parts of the market expecting a retest of the significant marker.30-Day Implied Gold Volatility (GVZ)Source: TradingView, prepared by Richard SnowThere hasn’t been a commensurate drop in US yields or indeed, the dollar, to warrant such a rise but there has been a lot of…

Prior 1.1%. French Industrial Production m/m it is an economic indicator that measures the percentage change in the total output produced by French industries from one month to the next. This data provides insights into the performance of the industrial sector in France, including manufacturing, mining, and utilities. French Industrial Production m/m prints below expectations: -1.1% vs 0.1%. The year over year data also printed below expectations at 0.8% vs 1.8%, prior 0.5%. More information here. Source link

We’ve got a handful of U.S. leading jobs indicators that might influence NFP bets for this week! First of these is the ISM services PMI that might spur an intraday bounce or a break on USD/JPY. Do you think the short-term resistance might hold or will we see a big breakout soon? This Article Is For Premium Members Only Become a Premium member for full website access, plus get: Ad-free experience Daily actionable short-term strategies High-impact economic event trading guides Access to exclusive MarketMilk™ sections Plus More! Source link

Share: EUR/JPY loses momentum around 163.22 following the rise in Japanese CPI inflation data.  The Tokyo CPI climbed 2.6% YoY in February vs. 1.6% prior.  The ECB is anticipated to hold the rate steady at 4.5% at its March meeting on Thursday. The EUR/JPY cross loses ground below the mid-163.00s during the early European trading hours on Tuesday. The rise in the Tokyo Consumer Price Index (CPI) for February triggered speculation that the Bank of Japan (BoJ) will exit the negative interest rate regime in the coming month, which lifts the Japanese Yen (JPY) and weighs on the…

In case you missed our latest Global Market Weekly Recap, you should know that Japanese officials like BOJ members and its top currency diplomat have hinted that they’re uncomfortable with the yen’s sharp and sustained downswings. Meanwhile, commodity-related currencies like AUD, NZD, and CAD are finding it hard to get sustained demand as their respective central banks signal their readiness to switch to more dovish monetary policy biases. Remember that directional biases and volatility conditions in market price are typically driven by fundamentals. If you haven’t yet done your fundie homework on the Canadian dollar and the Japanese yen, then…