Author: FX
The USDJPY is up for 6-days in a row. Will it be 7 or is it time for a correction. The high price did reach a topside target, which may give sellers a hope, but there is work to do. Find out what I am looking at and why in the video above. This article was written by Greg Michalowski at www.forexlive.com. Source link
Share: The oil price is on the verge of delivering a breakdown ahead of the US Retail Sales data. US consumer spending momentum expanded at a higher pace of 0.4% vs. the former pace of 0.2%. A confident breakdown of the Rising Channel pattern will trigger a bearish reversal. West Texas Intermediate (WTI), futures on NYMEX, skid below the $82.00 support and expose to further downside. The oil price faces significant selling pressure after printing a fresh eight-month high of around $84.85 as a moderate increase in the United States inflation would force the Federal Reserve (Fed) to…
USD/JPY, EUR/JPY FORECAST:Japanese GDP Posts Upside Surprise but the Yen Continues to Slide.Finance Minister Suzuki Offers Nothing New When Quizzed on Potential FX Intervention, but Top FX Diplomat Kanda Says He is Monitoring the Situation Closely.IG Client Sentiment Shows Retail Traders Extremely Bearish on Both USD/JPY and EUR/JPY.To Learn More About Price Action,Chart PatternsandMoving Averages, Check out theDailyFX Education Series. Recommended by Zain Vawda Get Your Free JPY Forecast MOST READ: BoE Faces Pressure Following Average Earnings Spike as Unemployment Rises, GBP/USD BidThe Yen continued to slide against the Greenback and the Euro this morning despite a positive GDP print…
GigaCloud Technology beats Q2 top and bottom line estimates; initiates Q3 outlook Source link
USD/CAD just bounced from a short-term support zone ahead of today’s U.S. and Canadian data releases! Can the pair extend its uptrend? Or will we see a short-term reversal in the next trading sessions? USD/CAD 15-minute Forex Chart by TV We’re barely into the second day of the week but it looks like forex bulls and bears are already all over the place. And who could blame them? One one hand, China has been pumping weaker-than-expected economic data lately while property sector-related headlines are fanning the flames of contagion concerns. On the other hand, easing inflation in the U.S. and…
The overnight standing lending facility (SLF) rate is cut by 10 bps to 2.65% while the 7-day and 1-month SLF rates are cut by 10 bps each as well to 2.80% and 3.15% respectively. This follows the medium-term lending facility (MLF) cut earlier in the day here. Source link
Share: USD/JPY prints the first daily loss in seven while reversing from YTD high, pressured around intraday low of late. Upbeat Q2 GDP from Japan, Industrial Production for June join sluggish yields at multi-day high to tease Yen pair sellers. Cautious optimism in the market, consolidation ahead of US Retail Sales allows USD/JPY to retreat from yearly peak. USD/JPY clings to mild losses around 145.50-45 heading into Tuesday’s European session as it prints the first daily loss in seven. In doing so, the Yen pair takes clues from the upbeat Japanese statistics and the US Dollar’s retreat amid…
Heads up, gold bugs! The precious metal is closing in on its potential range support, with a consolidation pattern to boot. Will we see a bounce or a break? Gold (XAU/USD) 1-hour Chart by TV As you can see from the hourly chart above, gold prices are inching closer to the $1,900 major psychological level, which has held as a floor in the past months. Stochastic is also hovering around oversold levels, suggesting that sellers need a break and that buyers might take over from here. If that’s the case, the commodity could pull up from current levels and set…
2/2 © Reuters. FILE PHOTO: A worker welds at a market under construction in Kunming, Yunnan province, August 12, 2015. REUTERS/Wong Campion/File Photo 2/2 BEIJING (Reuters) – China’s July industrial output and retail sales growth slowed and undershot forecasts, adding to a raft of recent weak data, suggesting policymakers may need to step up support measures to shore up a faltering economy. Less than an hour before the data release, China’s central bank did just that as it unexpectedly cut key policy rates for the second time in three months, underlining the rapid loss of the post-COVID economic rebound. Industrial…
Market Recap Recommended by Jun Rong Yeap How to Trade FX with Your Stock Trading Strategy Wall Street managed to start the week higher (DJIA +0.07%; S&P 500 +0.57%; Nasdaq +1.05%), tapping on some recovery in big tech and semiconductors to override earlier jitters around China’s property and financial sector risks. There was not much to note on the economic calendar overnight, with the relief potentially attributed to the positive view on Nvidia from Morgan Stanley, along with some attempt to stabilise after recent sell-off.US Treasury yields continue its way higher, with the 10-year yields back at its year-to-date high…