Author: FX
Both USD/CAD and SHIB/USD are consolidating inside triangle patterns on their longer-term charts. Are we about to see breakouts soon? USD/CAD Daily Forex Chart by TradingView This forex pair has formed lower highs and found support around the 1.3250 minor psychological mark, creating a descending triangle on its daily chart. Price is currently testing the resistance and might be thinking of breaking out soon, but what are technical indicators saying? Moving averages seem to be in favor of more gains, as the 100 SMA is above the 200 SMA to reflect bullish momentum. If an upside breakout happens, USD/CAD could…
Share: The index meets some initial resistance in the 104.50 region. FOMC Minutes noted some members favoured a 50 bps rate hike. Another revision of Q4 GDP, Initial Claims next on tap in the docket. The USD Index (DXY), which gauges the greenback vs. a basket of its main competitors, struggles for direction in the mid-104.00s on Thursday. USD Index looks to data, Fedspeak The upside momentum in the index appears to have met some initial resistance in the 104.50 zone so far this week. In the meantime, the cautious trade appears to prevail on Thursday ahead of…
Japan Markets closed. China -0.28%. Magnitude 7.1 earthquake on China western border. Hong Kong -0.39%. Australia -0.40%. Australian headline Q4 2022 capex +2.2% q/q (vs. expected +1.3%). Australian business investment hit a seven-year high in the fourth quarter of 2022, led by spending in the food and accommodation sector. India +0.15%. Overnight on Wall Street, the major stock indices are closing the day mixed (the Nasdaq closed modestly higher). The Dow fell -83.26 points or -0.25% at 33046.34; S&P index fell -6.08 points or -0.15% at 3991.27; NASDAQ index rose 14.78 points or 0.13% at 11507.08. The minutes showed that…
© Reuters. Head of Kherson regional military administration Oleksandr Prokudin poses for a picture during an interview with Reuters, amid Russia’s attack on Ukraine, in Kherson, Ukraine February 22, 2023. REUTERS/Rod Nickel By Rod Nickel KHERSON, Ukraine (Reuters) – Vladyslav Antoniuk felt euphoric three months ago when he returned to his home city Kherson, the day Ukrainian troops rolled back in and jubilant residents waved blue and yellow flags in the main square to celebrate. The recapture of the only regional capital Russia had seized during its invasion was the biggest triumph of Ukraine’s counter-offensive in the second half of…
US Dollar, DXY Index, USD, FOMC, USD/KRW, AUD/USD, China – Talking PointsUS Dollar weakened in Asia after a stellar run in the New York closeKorea left rates unchanged, while the Aussie Dollar got a boost on solid dataThe Fed reminded markets of their intention. Will it send USD higher? Recommended by Daniel McCarthy Traits of Successful Traders The US Dollar pulled back from overnight gains posted after the Federal Open Market Committee (FOMC) meeting minutes revealed a united board that supported the 25 basis point move at the gathering earlier monthThe minutes reinforced the notion that the Fed is determined…
Here’s one for the euro bulls! EUR/JPY busted through a ceiling recently and seems to be in the middle of a pullback. Which support levels might hold? EUR/JPY 4-hour Forex Chart by TradingView Thanks to mostly upbeat eurozone data lately, this pair has managed to break above the resistance zone around 142.50 to 143.00. Bulls appear to be having some difficulty charging past the 144.15 area, though, so a quick correction to the former resistance area might be needed. The handy-dandy Fib tool shows where more buyers might be waiting to hop in. In particular, the 38.2% Fib is looking…
AUD, NZD, CAD along with EUR and GBP all traded higher against the USD during the session here. US stock indexes traded higher also (Globex). Its difficult to point to a ‘smoking gun’ for the move during the session, both news and data flow were very light. Asia digested the Federal Open Market Committee (FOMC) minutes (January31/February 1 meeting). About the only information I gleaned from the minutes was that “a few members favoured a 50 bp hike”. We already knew that Bullard and Mester did, which is a couple. I’m guessing a ‘few’ is more than a ‘couple’ so…
Share: EUR/GBP looks vulnerable around 0.8800 as hawkish BoE bets soar after a recovery in UK preliminary PMI data. UK’s Hunt is facing calls from within his Conservative Party to cut taxes and raise pay for public service workers. ECB Lagarde is set to continue its policy tightening spell of 50 bps to March. The EUR/GBP pair is struggling to find any direction in the Tokyo session amid the absence of a potential trigger. The cross is juggling around 0.8800 and is expected to display more weakness as an economic recovery in the United Kingdom and a shortage…
© Reuters. FILE PHOTO: A man smokes next to the Reserve Bank of Australia headquarters in central Sydney, Australia February 6, 2018. REUTERS/Daniel Munoz SYDNEY (Reuters) – Australia’s government is advertising a job on the policy-setting board of the Reserve Bank of Australia, the first time the powerful position has been thrown open to all comers amid a push for more diversity at the central bank. An ad on the government’s jobs portal on Thursday called for candidates with knowledge or experience in economics, labour markets, financial markets, industry of public policy formation, as well as strong communication and strategic…
Eamonn Sheridan Thursday, 23/02/2023 | 01:38 GMT-0 23/02/2023 | 01:38 GMT-0 Earlier:The White House is considering Karen Dynan and Janice Eberly for the role of Fed vice chair, according to a WSJ report.In 2019 Janice Eberly co-authored an academic paper saying that a 3% inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In…