Author: FX
Copper Analysis and ChartArticle written by IG Technical Analyst Vincent Boy Recommended by IG Traits of Successful Traders While global markets continue to anticipate a “soft landing” and remain at their highest levels, the price of copper, considered a relevant indicator of the health of the global economy, is correcting sharply and is at its lowest level since November.The red metal is used in many industries, such as real estate, telecoms, and even increasingly in activities related to the energy transition. In fact, apart from wind turbines, which require a lot of copper, it takes 4 to 8 times more…
NZDUSD breaks lowerThe NZDUSD is continuing its move to the downside after yesterday’s sharp move lower after the RBNZ “dovish hike”. Yesterday the Reserve Bank of New Zealand (RBNZ)signaled the end of its rate-hiking cycle, after raising rates by 25 basis points to a 14-year high of 5.5%. However, the decision, which was interpreted as “dovish” by the market and analysts, put the kibosh on expectations of further hikes and led to a drop of over 2.16% drop in NZDUSD NZD/USD The NZD/USD is a commonly offered currency pair representing the New Zealand dollar or Kiwi and US dollar. The…
GBP/USD Prices, Charts, and AnalysisGBP/USD has again failed to hang on to gainsThe UK unit gained with others following the release of Fed minutesTechnically, the Pound has slipped below a medium-term trendline Recommended by David Cottle Traits of Successful Traders The British Pound has joined many other currencies in gaining a little on the United States Dollar on Thursday, as European and Asian investors pore over the latest commentary from the US Federal Reserve, however, in Sterling’s case those gains once again proved short-lived.The minutes of May’s Federal Open Market Committee meeting were released on Tuesday and indicated perhaps that…
Share: The USD rallied across the board last week. Economists at TD Securities discuss greenback outlook. Near-term outlook has turned less USD bearish “The USD has further upside to start the summer simply just to work off legacy shorts that were built up before the implosion of China and European data surprises.” “However, while the near-term outlook has turned less USD bearish, we still forecast a weaker USD through H2.” See: Outside chance that the Fed will implement another step is positive for the USD – Commerzbank Source link
US Dollar (DXY) Price, Chart, and AnalysisThe US dollar is printing a steady series of short-term higher highs.US T-bill yields balloon higher. Recommended by Nick Cawley Get Your Free USD Forecast The ongoing impasse in the US debt ceiling negotiations remains the driving force behind the US dollar, as US short-dated debt yields continue to soar. The one-month US T bill is offered with a 6%+ yield to maturity, a fresh multi-decade high, while even shorter down the curve, T-bills maturing just after the June 1st potential default date was seen trading with a yield in excess of 7%. These…
William Barton HSBC Holdings (NYSE:HSBC) is considering a plan to pull out of as many as a dozen countries to focus on growth in Asia, which already accounts for a majority of the bank’s profits, according to a media report on Thursday. HSBC shares gained 1.3% in U.S. premarket trading. HSBC Chief Financial Officer Georges Elhedery told Reuters that none of the markets it’s reviewing for exit “is material enough on its own to change the profile of the overall business, but as we progress through and execute on these assessments, we do expect them to contribute towards that shift…
DUBAI (Reuters) – Iran successfully test-launched a ballistic missile with a potential 2,000-km range on Thursday, state media said, two days after the chief of Israel’s armed forces raised the prospect of “action” against Tehran over its nuclear programme. Iran, which has one of the biggest missile programmes in the Middle East, says its weapons are capable of reaching the bases of arch-foes Israel and the United States in the region. Despite U.S. and European opposition, the Islamic Republic has said it will further develop its “defensive” missile programme. “Our message to Iran’s enemies is that we will defend the…
And that perhaps says something about the directional bias in the pair at the moment. I mean, if something can’t go up on good news.. well there’s only one other direction it is heading towards then. We saw the rates market already move in to price in another 25 bps rate hike for the BOE after the UK CPI data this week and GBP/USD still fell by 0.4% yesterday.Sure, the prospect of stagflation risks and negative sentiment in equities are also factors weighing on the pair yesterday but the pound barely showed any fight to be honest. And that sort…
USD/CHF is hitting a key resistance zone! The pair looks ready to bounce from the .9060 level, which isn’t surprising since the pair has found resistance from the area at least twice in the last week. It also doesn’t help USD bulls that .9060 marks the R1 of today’s Standard Pivot Points. The cherry on top of the sweet setup is a bearish divergence on the 1-hour time frame. USD/CHF 1-hour Forex Chart by TV We know that the dollar has been making pips rain all week thanks to U.S. debt ceiling concerns, hawkish FOMC prospects, and higher U.S. Treasury…
Share: USD/JPY eases from the highest levels in six months as Yen bears take a breather. BoJ’s Kuroda cites welcome signs of economic development but defends easy money policy. Mixed Fed talks, FOMC Minutes and anxiety about US debt ceiling issue keep Yen pair traders on a dicey floor. Risk catalysts, bond market moves are the key for clear directions. USD/JPY bulls take a breather after refreshing the Year-To-Date (YTD) high, declining to 139.50 amid early hours of Thursday’s European session. In doing so, the Yen pair reveres the intraday gains but remains dismal amid mixed markets. That…