Author: FX
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Japanese Yen Price, Chart, and AnalysisThe Bank of Japan (BoJ) will continue with ‘large-scale monetary easing’.USD/JPY 140 is under threat. Recommended by Nick Cawley How to Trade USD/JPY The new Governor of the Bank of Japan, Kazuo Ueda, said recently that the central bank will continue with large-scale monetary easing – yield curve control – until the price stability target of 2% is met ‘in a sustainable and stable manner.’ Mr. Ueda said the central bank would take its time to ‘decide on adjustments to monetary easing’ as ‘the cost of impeding the nascent developments toward achieving the 2 percent…
Share: Senior Economist at UOB Group Alvin Liew assesses the latest GDP figures for the January-March period in Singapore. Key Takeaways “Singapore’s final 1Q23 GDP growth coming in at 0.4% y/y (-0.4% q/q SAAR) revised up from the prelim estimate of 0.1% y/y (-0.7% q/q SA), compared to the 2.1% y/y (+0.1% q/q) growth in 4Q22. Despite the revision, 1Q’s y/y growth was still the weakest since 1Q 2021. It was, however, higher than our and Bloomberg median estimate of 0.2% y/y, -0.6% q/q.” “Growth was dragged by manufacturing sector (-4.8% q/q, -5.6% y/y) in 1Q with all…
Gold Price, Analysis, and ChartsGold looks set for a third straight week of fallsStronger Dollar and question marks over further rate rises have weighedA prominent daily-chart uptrend is under threat Recommended by David Cottle How to Trade Gold The near-term climate isn’t constructive for the oldest financial haven of them all. Reports of progress toward raising the US Federal debt ceiling have weighed on the market, chiming with a widespread belief that a deal will be done in time because the alternative is so dire.General Dollar strength can also reduce gold’s attraction to non-US investors.The market may glean some support…
FTSE 100, DAX 40, and S&P 500 Analysis and ChartsArticle written by IG Senior Market Analyst Axel RudolphFTSE 100 remains under pressure amid ongoing US debt ceiling negotiationsThe FTSE 100 has given back around 2.5% by falling on three consecutive days as a possible US default is getting increasingly likely since no agreement on raising the debt ceiling limit has been reached yet.The 22 March high at 7,587 has been reached to date with the 200-day simple moving average (SMA) at 7,530 representing the next downside target around which the index may at least short-term stabilise. If not, the March…
Douglas Rissing/iStock via Getty Images Debt talks appear to be nearing the end amid reports that a potential deal would raise the U.S. government’s $31.4T debt ceiling and limit spending on most items for two years. Republican negotiators have reportedly agreed for a smaller 3% increase in defense spending. Non-defense discretionary spending is expected to be maintained at current levels. The White House is mulling cutting back on increased funding for the Internal Revenue Service, Reuters reported, citing an unnamed official. The deal would cut $10B from an $80B budget increase for the IRS that was planned under the Inflation…
GBP/USD PRICE, CHARTS AND ANALYSIS: Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter READ MORE: Gold Price Forecast: $1950 Level Holds Key for Bearish Momentum to ContinueThe UK recorded a hot inflation print this week with hawkish repricing of the Bank of England’s (BoE) peak rate probabilities unable to arrest Cables slide as persistent US dollar strength continued. GBPUSD has enjoyed a decent bounce in the Asian session from lows around the 1.2300 mark, currently trading at 1.2340. Much like the rest of the week the…
The dollar continues to stay in control as we look to close out the week and it will be a question of whether the PCE price data will add to the gains in the currency later today. I outlined the moves in the dollar pairs yesterday below:And adding to that, we also have gold easing further towards its 100-day moving average at around $1,935.Those are the more interesting plays alongside other commodities at the moment with silver having broken below its own 100-day moving average earlier this week and copper catching a bit of a bounce after falling to its…
Trend playas huddle up! NZD/JPY is forming higher highs and higher lows on the 4-hour, yo! Who else is looking at this setup? NZD/JPY 4-hour Forex Chart Chart by TV NZD bulls have a chance to jump in the uptrend while NZD/JPY is still hanging out at the bottom of as ascending channel that’s been around since the start of the month. In fact, prices are also hanging out just above the 200 SMA! A long trade at current levels would yield a decent risk ratio especially if you place your stops just below the channel and you aim for…
Share: AUD/USD renews intraday top as it reverses from the yearly low, snaps three-day downtrend. Australia Retail Sales’ growth stagnates in April versus 0.4% prior. US Dollar bulls step back from key resistance line amid mixed concerns about debt ceiling, unimpressive Fed talks. US Durable Goods Orders, Fed’s preferred inflation gauge eyed, US default updates are the key. AUD/USD prints the first daily gain in four as it rebounds from the yearly low to 0.6515 heading into Friday’s European session. In doing so, the Aussie pair pays little heed to the downbeat Australia data while cheering the US…