Author: FX
Swiss Franc (CHF) Analysis Recommended by Richard Snow Top trading ideas identified by our analysts Swiss Franc’s Safe-Haven Appeal Drives Currency AppreciationThe Swiss Franc has emerged as one of the top performers against the US dollar in 2023 as declining rate expectations in the US and safe-haven appeal of the franc influence the fundamental landscape. The franc has appreciated around 4.4% against the dollar in 2023 thus far, with the trend likely to continue should the US receive softer fundamental data – possibly starting this week with the NFP print and next week with the latest CPI data.Adding to the…
US Dollar (DXY) Price, Chart, and AnalysisFed Fund futures suggest US interest rates will be cut by 75bps by the end of 2023.The US could run out of money by early June.US Jobs Report (NFP) released at 12:30 GMT. Recommended by Nick Cawley Get Your Free USD Forecast The US has finished its rate hiking cycle and will embark on an aggressive rate-cutting cycle from late July with rates expected to be 175 basis points lower at the start of May next year if the latest CME FedWatch Tool meeting probabilities play out. Rates are seen unchanged at the next…
da-kuk With artificial intelligence in the headlines and fears about what it can do to society, the White House convened a meeting on Thursday that sought to explore the dangers to public safety, civil rights and privacy, and faith in democracy. Vice President Kamala Harris, White House Chief of Staff Jeff Zients, National Security Adviser Jake Sullivan, Director of the National Economic Council Lael Brainard and Commerce Secretary Gina Raimondo all met with the CEOs of leading AI companies like Google (NASDAQ:GOOG) (NASDAQ:GOOGL), Microsoft (NASDAQ:MSFT), OpenAI and Anthropic. What happened? “It was a frank conversation, which included discussion on three…
Stock markets nudged slightly higher, with sentiment stabilising somewhat after the weaker close on Wall Street. Bank jitters continue to linger, and gains were modest. EGB yields are moving higher in early trading, with the short end underperforming. Bonds rallied yesterday, despite the ECB’s rate hike and Lagarde’s insistence that it wasn’t the last. Markets are speculating on a quick reversal of rates in the US and wondering how long the ECB policy can diverge from the Fed outlook, but with Treasury yields also nudging higher this morning, the rally in bonds has been halted…
GBP/USD extends its recent upside now hitting new 2023 highs but with NFP around the corner, will we see a continuation or pullback? Source link
Share: USD/CAD is declining towards 1.3500 amid a weak USD Index and a recovery in the oil price. Investors are dumping the USD Index as the White House is struggling to raise the US debt ceiling. The Loonie will be on the tenterhooks ahead of the US/Canada Employment data. The USD/CAD pair has witnessed an immense sell-off as the US Dollar Index (DXY) has extended its losses sharply and the oil price has shown a significant recovery. The Loonie asset is expected to extend its downside further toward the round-level support of 1.3500 amid a strengthening downside bias…
USD/CAD might be done with its climb, as the forex pair is forming a double top pattern that looks ready to play out. Think price is ready to break below its neckline soon? Better keep your eyes on these levels so you don’t miss a big move! USD/CAD 4-hour Forex Chart by TV As you can see from the chart above, the pair made a couple of failed attempts to bust through the ceiling at the 1.3650 minor psychological mark. Price is back to testing the double top neckline around 1.3525, and a break below this support area could confirm…
EURCHF, D1 The European Central Bank raised its key interest rate by 25 bps during its May meeting, signalling a slowing pace of policy tightening. Nevertheless, borrowing costs have now reached their highest level since July 2008 after 7 consecutive rate hikes as the ECB seeks to combat high inflation, despite ongoing recession risks. The central bank also announced plans to stop reinvesting cash from maturing bonds purchased under the €3.2 trillion APP from July. The latest economic data revealed that the inflation rate in the Euro Area rose to 7% in April, with the core rate remaining near March’s…
Japanese Yen, USD/JPY, US Dollar, BoJ, Ueda, Momentum – Talking PointsUSD/JPY has steadied after testing higher groundThe BoJ is in a ‘do nothing’ mode and that could help YenIf the trend is intact, will USD/JPY stretch higher? Recommended by Daniel McCarthy How to Trade USD/JPY The Japanese Yen has been a thorn and a crown for traders over the last week, providing both headaches and bliss in a wild ride of price action.The fundamental backdrop for Japanese monetary policy remains unchanged for now despite Kazuo Ueda taking the reigns last month as the new Governor of the Bank of Japan…
Gold, XAU/USD, Fed, Rate Cuts, Regional Bank Woes – Briefing:Gold prices aim slightly higher, though erase most gainsMarkets focused on Fed easing and regional bank woesXAU/USD faces negative RSI divergence, Shooting Star Recommended by Daniel Dubrovsky Get Your Free Gold Forecast Risk Appetite Deteriorates After the FedGold prices aimed cautiously higher over the past 24 hours in what was a relatively volatile intraday trading session. XAU/USD briefly touched its highest in over a year in the immediate aftermath of Wednesday’s Federal Reserve monetary policy announcement. But, since then, prices came down. Instead of capturing a gain of almost 2%, gold…