Author: FX

The Dollar rebounds at levels close to the yearly low on the back of increased hawkish rhetoric from FED officials. Dollar The Greenback rolls into midweek having found some significant support around the yearly low level at 100.50. Factors driving this buying pressure at a psychologically significant area can primarily be attributed to the hawkish comments made by several pertinent members of the FED. The general outlook from these members appears to maintain the outlook that inflation has eased, but not significantly enough to warrant a pivot just yet. On the contrary, there seems to be a growing consensus that…

On the daily chart below for XAUUSD, we can see that the bullish momentum has been waning trading into the major resistance at 2087 set in 2020. The price is now testing the red long period moving average which has been acting as support in the past few days. We are likely to see more selling pressure if the price breaks below it. The buyers should be leaning on this level targeting another push to the upside. In case we get a deeper pullback, the blue trendline will be the target for the sellers. Looks like a lot will depend…

Share: Euro gains a small lift versus the US Dollar on Wednesday after an upwards revision to Euro area inflation data for March. USD is supported by strong US banking results, persistent inflation and hawkish Fed commentary.  Upside for Euro dependent on April inflation data and ECB Bank Lending Survey.  The Euro (EUR) trades above 1.0960 against the US Dollar (USD) during the European session on Wednesday. The pair has gained a lift after Eurozone data showed an upwards revision of core inflation data for March, suggesting the ECB may be more aggresive in raising interest rates at their May meeting. EUR/USD has…

The USD rotated (USDIndex at 101.50) as Bonds lead with Yields higher too. Expectations for a 25 bp May Fed rate hike continued to rise on more hawkish Fedspeak, Bullard even talked of two more 25bp after May, Bostic sees 25bp in May and then a pause for the rest of the year. Stocks closed flat, BoA and J&J big beats, GS strong EPS but revenue missed. After hours Netflix missed subscriber numbers and shares tanked -12% on poor Q2 outlook – but full year offered better numbers and the losses were reversed completely. ECB’s Lane sees 3 more hikes…

In their March decision, Bank of England (BOE) members shared that they expect price levels to decline after a notable acceleration in February. But this week’s reports are showing that the U.K.’s labor market remains tight while inflation remains high! Not surprisingly, GBP traders are pricing in more tightening from the BOE. GBP/CAD 1-hour Forex Chart by TradingView Anticipation of further BOE tightening likely contributed to GBP/CAD jumping from its 1.6540 intraweek lows all the way to its current levels near 1.6700. Can GBP bulls keep up the pressure though? Note that 1.6700 psychological level lines up with the 61.8%…

POUND STERLING ANALYSIS & TALKING POINTSUK inflation beats forecasts but continues to trend lower.Bank of England 25bps hike in May an almost certainty.GBP/USD yet to show any significant move post-inflation. Recommended by Warren Venketas Get Your Free GBP Forecast GBPUSD FUNDAMENTAL BACKDROPUK’s Chancellor Hunt: “The CPI figures reaffirm exactly why we must continue with our efforts to drive down inflation.”The British pound is marginally weaker against the USD this morning despite UK inflation (see economic calendar below) surprised to the upside. Hawkish commentary from the Fed’s Bostic and Bullard seem to be carrying over from the US trading session but…

© Reuters. A sign is pictured in front of the Canada Revenue Agency (CRA) national headquarters in Ottawa, Ontario, Canada March 13, 2017. REUTERS/Chris Wattie By Ismail Shakil OTTAWA (Reuters) – More than 155,000 public sector workers in Canada began a strike on Wednesday after failing to reach a wage deal with the federal government by a Tuesday deadline, in action that will affect tax filings and passport services during peak demand. The Public Service Alliance of Canada (PSAC) union said contract negotiations would continue even as it called for its members working for the Treasury Board and Canada Revenue…

NZD/JPY is currently in consolidation mode inside an ascending triangle pattern. Will we see another bounce or a breakout soon? Better keep your eyes on these levels if you’re hoping to catch a big move! NZD/JPY 4-hour Forex Chart by TradingView This forex pair is currently testing the bottom of its triangle pattern, still deciding where to go next. Technical indicators seem to be pointing to a bounce, which might take price back up to the resistance just below the 84.00 major psychological mark. The 100 SMA is above the 200 SMA to reflect upside pressure, and this shorter-term moving…

Procter & Gamble is an American company which engages in the provision of branded consumer packaged goods, operating through segments namely Beauty, Grooming, Health Care, Fabric and Home Care, Baby, Feminine and Family Care. The company shall release its earnings result for the fiscal quarter ending March 2023 on 21st April (Friday), before market open.   Fig.1: Reported Sales of P&G versus Analyst Forecast. Source： CNN Business Throughout the decade (2012-2022), the company recorded the lowest sales in 2017, which was $65.1B. However, its sales gradually recovered for the next five years, to $80B in 2022, up over 23%. The…

It was a very light session indeed for news and data, and we didn’t hear much from central banks either. An exception was the Hong Kong Monetary Authority (which serves as Hong Kong’s central bank). The HKMA intervened to support the HK dollar, which has fallen to the weak end of its permitted trading band (more on this info and what the band is in the relevant bullet point above). Major FX rates have traded in subdued ranges and there is not a lot of net change on the session to report. EUR/JPY and yen crosses generally are higher, but…