Author: FX
USD/JPY PRICES, CHARTS AND ANALYSIS: Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter USD/JPY FUNDAMENTAL BACKDROPUSD/JPY trickled lower in the Asian session to a fresh 6-week low following mixed inflation data out of Japan before finding some support at the 130.000 psychological level.The YoY inflation rate fell to 3.3% in February 2023 from January’s 41-year high of 4.3% while the MoM print indicated declines of 0.6% in February, the first fall since October 2021. The key, however, was the so-called so-called core-core CPI (excluding fresh food…
Japan -0.12%. Japan preliminary March 2023 Manufacturing PMI 48.6 (prior 47.7). Japan February CPI headline 3.3% y/y (expected 4.1%), Core 3.1% y/y (expected 3.1%). China -0.53%. Hong Kong -0.52%. Australia -0.19%. Australia preliminary March PMI: Manufacturing 48.7 (prior 50.5) Services 48.2 (50.7). India +0.02%. Overnight in the U.S., major US stock indices ended higher on Thursday after a volatile trading session. The Dow Jones rose 75.14 points to close at 32,105.25 after falling more than 500 points in the previous session. The S&P 500 advanced 11.75 points to end at 3,948.72, while the Nasdaq climbed 117.44 points to finish at…
Welcome to the last trading day of the week, forex friends! Whether you’re looking for a dollar play or you’re more into currency crosses, I got yo back with setups on EUR/USD and AUD/NZD. Don’t even think of missing these charts! EUR/USD 1-hour Forex Chart by TradingView First up is a nice and simple trend play as EUR/USD revisits a trend line support that’s been around since mid-March. In this case, EUR/USD’s current levels also line up with the 50% Fibonacci pullback of this week’s upswing. Can EUR/USD extend its weeks-long uptrend? A long trade at current levels would set…
© Reuters. FILE PHOTO: The headquarters of Swiss bank UBS is seen in Bahnhofstrasse in Zurich, Switzerland March 23, 2023. REUTERS/Denis Balibouse HONG KONG (Reuters) – UBS promised retention packages to wealth management staff in Asia at Credit Suisse, two people with knowledge of the matter said, as the bank tries to stem a talent exodus after the takeover of its former Swiss rival. In a town hall address in Hong Kong on Friday, Iqbal Khan, UBS’s president for global wealth management, also focussed on stabilising Credit Suisse Asia team and boosting confidence, said one of the sources. UBS and…
Risk-taking got traders buying “risky” bets like crude oil this week! But how high can WTI crude oil prices (USOIL) fly with its fundamental and technical challenges? In case you missed it, traders are (cautiously) dumping safe-havens in favor of “riskier” assets like commodities after the Fed decided to cut its interest rates by 25 basis points and shifted away from the “ongoing rate increases will be appropriate” game plan. It also didn’t hurt that the International Energy Agency (IEA) raised its estimate for global oil consumption to record highs in 2023 in anticipation of a surge in Chinese demand.…
One of the reasons why many new traders find it very difficult to profit from the forex market is because they do not trade in the direction of the trend. In some cases, it is a matter of having a strategy that is not fit for trading with the trend. On many occasions, it is because of the fear of taking the trade at the end of a trend. While it is true that traders should avoid chasing the trend, trading in the direction of the trend also implies that you would have to trade in the middle of the…
Banking sector woes were still the main theme early in the week before the spotlight shifted to the FOMC decision later on, along with other major central banks’ statements. Efforts to shore up liquidity and restore confidence in the financial sector seemed to fall flat, though, as markets had varying views on how the latest plot twist would impact the global economic outlook. Notable News & Economic Updates: Chinese Foreign Ministry confirmed that President Xi visited Russia on March 20-22 for a state visit to discuss strategic cooperation Russian President Putin praised Xi for his proposal to end the war…
<p>USD/JPY loses ground. US equity index futures also slammed lower. </p><p>Apart from what has already been posted there is nothing fresh on the news feed.</p><p>From Japan earlier:</p><ul><li><a href="https://www.forexlive.com/news/japan-february-cpi-headline-33-yy-expected-41-core-31-yy-expected-31-20230323/" target="_blank" rel="follow" data-article-link="true">Japan February CPI headline 3.3% y/y (expected 4.1%), Core 3.1% y/y (expected 3.1%)</a></li></ul> This article was written by Eamonn Sheridan at www.forexlive.com. Source link
Share: EUR/USD stays defensive after reversing from seven-week high, as well as snapping five-day uptrend. Break of weekly support line, downbeat oscillators favor sellers even if 61.8% Fibonacci retracement prods immediate declines. Recovery moves need validation from 1.0935 to aim for fresh 2023 high. EUR/USD seesaws around 1.0830-20 as the key Fibonacci retracement level probes bears during early Friday, following the Euro pair’s U-turn from a seven-week high the previous day. EUR/USD marked the first daily loss in six on Thursday as it failed to cross the two-month-old horizontal resistance area surrounding 1.0930-35. The following pullback also broke…
GOLD PRICE FORECAST:Gold prices rise following the Fed’s dovish hike at its March FOMC meetingThe U.S. central bank raised rates by 25 basis points, but signaled its tightening cycle is coming to an endThe fundamental outlook remains positive for gold Recommended by Diego Colman Get Your Free Gold Forecast Most Read: Gold Trading – Three Top Tips for Trading GoldGold prices surged on Thursday amid U.S. dollar weakness after the FOMC delivered a dovish interest rate hike and signaled that its tightening campaign may be nearing its end. In late morning trading, XAU/USD was rallying about 1% to $1,986, inching…