Author: FX
With Canada expected to print slightly lower labor market numbers, you can bet that I have my eye on CAD pairs today. Specifically, I’m looking at GBP/CAD’s potential reversal pattern. Are you seeing the same pattern on the 15-minute chart? Before moving on, ICYMI, yesterday’s watchlist checked out NZD/USD’s short-term range ahead of U.S. initial jobless claims release. Be sure to check out if it’s still a good play! And now for the headlines that rocked the markets in the last trading sessions: Fresh Market Headlines & Economic Data: Final read for Euro Area Q2 2023 GDP: 0.1% q/q (0.3%…
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Gold (XAU/USD) AnalysisUS dollar and yields remain central ahead of US CPI printGold set for weekly decline as price action hovers around key 200 DMAUS CPI remains the key risk in the week ahead as the Fed prepares for next meetingThe analysis in this article makes use of chart patterns and key support and resistance levels. For more information visit our comprehensive education libraryUS Dollar and Yields Remain Central Ahead of US CPI PrintGold continues to reflect a considerable negative correlation with USD and US treasury bond yields in a week that may pose little challenge to the greenback’s recent…
2/2 © Reuters. FILE PHOTO: Britain’s King Charles meets local school children as he arrives at Brecon Cathedral, to mark the centenary year of the cathedral and to meet cathedral representatives and organisers of the Brecon Choir Festival, in Brecon, Wales, Britain, Jul 2/2 By Michael Holden LONDON (Reuters) – King Charles on Friday thanked the public for their “love and support” on the first anniversary of the death of his mother Queen Elizabeth and his accession to the throne, echoing her words as he vowed to be of service to all. Elizabeth, Britain’s longest-reigning sovereign, died aged 96 on…
Cable is sitting on a major area of interest today! Can GBP/USD still extend its uptrend? Or are we looking at the start of a longer-term reversal for the pair? GBP/USD Daily Forex Chart by TV GBP/USD has been in a downtrend since mid-July when the pair got rejected at the 1.3140 inflection point. The pair is now trading closer to 1.2500, which is just above the 200 SMA in the daily time frame. Not only that, but 1.2500 is an area that had served as resistance in the last months of 2022 and support in the first half of…
The dollar is marginally lower on the day but it comes after a slight advance yesterday. Bond sellers were at it again after the weekly jobless claims data but there were also strong bids coming through amid some risk aversion in broader markets. There still seems to be some pushing and pulling at play for now.10-year Treasury yields are down another 3.6 bps to 4.226% currently, though US futures are keeping calmer with S&P 500 futures flattish. That is still leaving a lot to be desired as we move towards European trading.If anything else, I’d continue keeping an eye on…
Share: USD/CNH extends its gains due to the firmer US Dollar (USD) following the consistent stream of upbeat economic data. Momentum indicators indicate a favorable upward trend in the short-term trajectory. Chinese President Xi Jinping will not attend the G20 leaders’ summit in New Delhi. USD/CNH continues the winning streak for the fifth day during the Asian session on Friday, trading around 7.3530 aligned to the 7.3590 resistance confluence. Meanwhile, the onshore Yuan (CNY) has marked a 16-year high at 7.3462 vs. the US Dollar (USD). The pair is experiencing upward support due to the firmer Greenback following…
HANG SENG, KOSPI, STRAITS TIMES INDEX – Price Action:The Hang Seng Index is still looking for a bullish break.There is a high chance that Kospi may have peaked for now.FTSE Straits Times Index is struggling to find a broader direction.What is the outlook and the key levels to watch in select Asian indices? Recommended by Manish Jaradi Building Confidence in Trading Hang Seng Index: Downward momentum is picking upThe failure of the Hang Seng Index to clear a crucial barrier on the 89-day moving average, the upper edge of a declining channel since early 2023, and the Ichimoku cloud on…
US Dollar, USD/JPY, DXY Index, Japanese Yen, Treasury Yields, JGB, BoJ, Kanda – Talking PointsThe US Dollar ascent continued overnight with the DXY making a new highFirm US data underpinned interest rate markets with firming Treasury yieldsJGB yields are static. Will that see intervention in USD/JPY at some stage? Recommended by Daniel McCarthy Introduction to Forex News Trading The US Dollar popped to a new peak going into the end of the week with solid US data keeping the Federal Reserve in the spotlight and underpinning Treasury yields.The DXY (USD) index nudged 105.16 in the US session, the highest level…
© Reuters. Mexico’s President Andres Manuel Lopez Obrador and Mexico City Mayor Claudia Sheinbaum attend an event to commemorate the 200th Anniversary of the Consummation of the Independence of Mexico outside the National Palace, in Mexico City, Mexico, September 27 MEXICO CITY (Reuters) -Mexico’s president on Thursday vigorously backed his party’s selection of former Mexico City Mayor Claudia Sheinbaum as its candidate to succeed him in 2024, dismissing objections about the process by her main rival, who threatened to quit the party. The ruling National Regeneration Movement (MORENA) declared Sheinbaum the winning candidate a few hours after her closest competitor,…