Author: FX

GBP/USD and EUR/GBP Prices, Charts, and AnalysisA mildly dovish Fed rate hike allows cable to move higher.All options are open for the ECB later today. Recommended by Nick Cawley Get Your Free GBP Forecast Most Read: British Pound Week Ahead: GBP/USD and EUR/GBP Will Dance to Different MusicThe US central bank raised the Fed funds to 5.25% yesterday, the highest level seen since September 2007 but a change in the post-decision language suggests that the Fed may put on hold any further increases in the borrowing rate. Fed chair Jerome Powell swapped out the existing statement of ‘some additional policy…

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Asian stock markets traded mixed, US futures are moving higher, while European futures are in the red. A somewhat mixed picture then, as markets digest the Fed announcement, while keeping a wary eye on financial conditions. A 25 bp hike had long been priced in, while the shift in the policy statement was also in line with expectations. The Fed kept all options open for the next meeting and the ECB is likely to do the same after delivering another hike today. Heightened caution at central banks also reflects the fact that bank jitters continue…

I’m seeing this classic break-and-retest setup already playing out on the hourly chart of NZD/JPY. Is it too late to hop in or is there still plenty of room for the pair to climb? As you can see from the chart below, price is just starting to find some buyers at the area of interest and Fibonacci retracement level. NZD/JPY 1-hour Forex Chart by TV In particular, NZD/JPY is bouncing off support at the 50% Fib, which is right around a former resistance zone. A larger pullback could still take it down to the 61.8% retracement level closer to the…

AUD/CAD has taken a chill pill from its downtrend and it looks like it’s still waiting for its next direction! Think this 4-hour range resistance will hold for another day? Take a look! AUD/CAD 4-hour Forex Charts by TV In case you missed it, AUD/CAD started a downtrend in mid-January and is now trading about 500 pips from its 2023 highs. Fast forward to today and AUD/CAD looks like it’s trading in a range. For one thing, the simple moving averages (SMAs) are moving in a flat direction instead of tilting downwards. For now, AUD/CAD is consolidating just under the…

The European Central Bank monetary policy meeting for May 2023 is today, Thursday, 4 May 2023.decision statement is due at 1215 GMT, which is 0815 US Eastern timeEuropean Central Bank President Lagarde’s press conference follows at 1245 GMT, 0845 US Eastern timeAn update from ABN-Amro on their forecast for what to expect:Two important economic reports published today, the ECB’s Bank Lending Survey and the April inflation report, make us comfortable with our view that the ECB will slow down the pace of rate hikes to 25bp on 4 May. The ECB Bank Lending Survey (BLS) for 2023Q1 showed that eurozone…

Share: USD/CHF has faced an intense sell-off as the Fed delivered neutral interest rate guidance. The USD Index looks vulnerable above 101.07 as fears of the US debt ceiling issue are accelerating swiftly. US Treasury has already conveyed that it will be out of funds by early June. The USD/CHF pair witnessed massive offers from investors on Wednesday as the Federal Reserve (Fed) delivered neutral guidance after hiking interest rates by 25 basis points (bps) to 5.00-5.25%. The Swiss Franc asset has refreshed its two-year low at 0.8820 and is expected to display more downside as the US…

Who else is looking to trade Friday’s U.S. NFP release? If you are and you haven’t found a forex pair to trade yet, then maybe you’ll like jumping on USD/JPY’s month-long uptrend! Here’s the 1-hour chart that I’m looking at: USD/JPY 1-Hour Forex Charts by TV May has NOT been a good month so far for USD/JPY because it got rejected from its 137.75 weekly highs and plummeted all the way to its 134.50 levels. Will there be enough dollar demand now that the pair has fallen by a bajillion pips? USD/JPY’s next direction might depend on tomorrow’s U.S. labor…

Gold, XAU/USD, FOMC, Fed Hike, US Dollar, Crude Oil, WTI, Powell, Yields – Talking PointsThe gold price sprinted north on the open today but has since pulled backThe US Dollar and Treasury yields have slipped lower as markets eye lower ratesThe Fed decision has come and gone, but there might be more ramifications for XAU/USD Recommended by Daniel McCarthy How to Trade Gold Gold ramped higher after the North American close today at the same time that the crude oil price fell in a heap. The moves come after the Federal Open Market Committee (FOMC) raised its target rate by…

marrio31 Johnson & Johnson (NYSE:JNJ) spinout Kenvue (KVUE) upsized its hotly anticipated initial public offering, pricing shares at the upper end of its previously issued range to raise $3.8B. Kenvue, which was J&J’s consumer products division, offered 173M shares at $22 per share. Underwriters were granted a 30-day option to buy up to 26M additional shares to cover over-allotments. Shares are expected to begin trading on NYSE under the symbol KVUE on Thursday, May 4. After the IPO closes, J&J will own 91% of Kenvue’s outstanding common stock or 90% if the underwriters exercise their option in full. Goldman Sachs,…