Author: FX
Share: EUR/USD bulls are in the market but face a wall of resistance. EUR/USD bears eye the 4-hour W-formation and a move into test key support. EUR/USD traded higher Friday as the US Dollar bears pounced on data that inflation showed further signs of cooling in June according to Personal Consumption Expenditure data. However, the DXY was still set for the second straight week of gains, underpinned by stronger-than-expected US economic data. Nevertheless, EUR/USD was headed towards the close on Wall Street higher by some 0.43% after moving up from a low of 1.0943 to score a high of…
Share: Pound Sterling eyes more gains ahead of key interest rate policy The Pound Sterling (GBP) recovers as negative market sentiment eases despite the United Kingdom losing resilience in an aggressively restrictive monetary policy environment. Earlier, the GBP/USD pair faced wrath as the UK authority shows concerns about deepening recession fears due to consistent interest rate hikes by the central bank. Read more… GBP/USD Weekly Forecast: 1.2550 back in sight ahead of BoE, US NFP The Pound Sterling extended its correction against the United States Dollar (USD), sending GBP/USD back toward the 1.2700 round level before a late rebound on Friday.…
Share: USD/MXN printed a fresh cycle low on Friday of 16.62 and is poised to close a 1.70% weekly loss. Core US CPI retreated to 4.1% YoY in June. Falling US yields limit the Greenback’s advance as markets start to place bets on the September meeting. On Friday, the USD/MXN pair fell to its lowest point since December 2015, this time weakened but soft Core Personal Consumption Expenditures (PCE) figure from June. In that sense, the figures, which act as an essential gauge of inflation for the Federal Reserve (Fed), dropped to 4.1% YoY in June, lower than…
As we finish the trading week and look toward the new trading week, the sellers are more in control in the AUDUSD. The bias is more to the downside on both the daily and hourly chart. Having said that, the pair has been mostly in an up-and-down trading range over the last 5 trading months. With the bias down, what would tilt the bias more to the upside, and if those levels can’t be breached, what would get the price outside the 5-month up and down trading range. Source link
As the dust settles from the Bank of Japan USD/JPY is rising above 141.00 and I think that’s the right trade. A week ago, I warned not to chase USD/JPY as it rose to 141.73 and we got a retracement all the way to 138.06 on a series of leaks and a messy trade. It certainly wasn’t easy but at the time I wrote:I think the trade for the BOJ is to wait and see what they deliver and if it’s yet-another kicking of the can on YCC, then buy USD/JPY with both hands and dare the MoF to defend…
The Fed is out with a report with some suggestions for banks in raising liquidity.Banks should ensure they are familiar with the pledging process for different collateral types and be aware that pre-pledging collateral can be useful if liquidity needs to arise quickly Banks should consider small value discount window transactions at regular intervalsEvents of H1 underscore importance of liquidity risk management and contingency planningThis is good advice that banks will certainly ignore. Source link
Share: More central bank decisions await in the coming week, with live meetings at the Reserve Bank of Australia and the Bank of England. US data will remain in the spotlight with key employment data, including Nonfarm Payrolls. Canada and New Zealand will also release job market data. Eurostat will release inflation and growth data. Here is what you need to know for next week: After the FOMC meeting, the focus in the US turns to jobs data. On Tuesday, we will have the JOLTS Job Openings report; on Wednesday, ADP Private Employment; on Thursday, the weekly Jobless…
The USDJPY traded to a new low today, and also equaled the high for the week. The day has been volatile, but is more bullish heading into the close and the new trading week. What does the price action and technicals say for next week’s trading? This video will define the bias, and outline the key levels that would tilt the bias either more to the upside (the buyers are more in control), or reverse the bias back lower. Source link
In a tough week filled with major, major catalysts and elevated uncertainty, our FX strategists were able to arguably have two ideas play out effectively by the week close. Take a closer look at what happened and why traders had to stay on their toes this week! EUR/JPY 2-Hour Forex Chart by TV On Monday, we took a look at EUR/JPY ahead of potential volatility for the euro with the upcoming business survey updates from Europe. Market expectations were for slight improvements over last month’s numbers that could draw in potential euro bulls. But we thought that a pullback lower…
BNP Paribas GAAP EPS of €5.64, revenue of €23.4B Source link