Author: FX
Share: NZD/USD attracts some buyers on Tuesday amid a modest USD weakness. Hawkish Fed expectations limit the USD losses and keep a lid on the major. Traders now look forward to Fed Chair Powell’s speech for a fresh impetus. The NZD/USD pair gains some positive traction on Tuesday and moves further away from a one-month low, around the 0.6270 region touched the previous day. Spot prices, however, trim a part of the intraday gains and retreat to the 0.6320-0.6325 area during the early European session. The US Dollar edges lower and stalls the upbeat US jobs data-inspired strong…
US Dollar, Crude Oil, Gold – Talking PointsUS Dollar resumed strengthening yesterday but has slipped todayThe Fed reminded markets of their intention and yields respondedIf Fed Chair Powell is hawkish today, will that drive the DXY (USD) Index up? Recommended by Daniel McCarthy Get Your Free USD Forecast The US Dollar is treading water so far today after massive gains across the board thanks to Fed commentary for higher rates raising the prospect of a hawkish Fed Chair later today.Yesterday, Atlanta Fed President Raphael Bostic highlighted that the tight labour market seen in Friday’s data might mean that the peak…
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I’ve got a euro special on today’s canvas! Check out this simple retracement on EUR/NZD and a potential triangle breakout on EUR/CHF. EUR/CHF 4-hour Forex Chart by TradingView Lower highs and higher lows? Why, that’s a symmetrical triangle right there! EUR/CHF is hanging out at the bottom of this consolidation pattern, still deciding whether to make a bounce or a break. If euro bulls defend support once more, the pair could make its way back to the top of the triangle just slightly past parity. On the other hand, a break below the triangle bottom at .9950 could set off…
4/4 © Reuters. Cennet Sucu is rescued from the rubble of collapsed hospital, following an earthquake in Iskenderun, Turkey February 6, 2023. REUTERS/Umit Bektas 2/4 By Ece Toksabay, Huseyin Hayatsever and Mert Ozkan ANTAKYA/KAHRAMANMARAS, Turkey (Reuters) -Rescue teams worked early on Tuesday to release people trapped in the rubble of buildings in southern Turkey as the death toll in the country from a devastating earthquake a day earlier rose to nearly 3,000. The magnitude 7.8 quake hit Turkey and neighbouring Syria early on Monday, toppling entire apartment blocks, wrecking hospitals, and leaving thousands more people injured or homeless. Nearly 8,000…
There are multiple central bank speakers on the agenda for today:All of these are, of course, appetizers to the main course, which is Federal Open Market Committee (FOMC) Chair Powell:speaking at 1740 GMT, which is 1240 US ETPowell is ‘having a conversation’ with David Rubenstein, Chairman Of The Economic Club Of Washington, D.C.Since the blockbuster jobs report from the US on Friday:US financial conditions have tightened as the prospect of a higher terminal rate, and perhaps faster rate hikes, come back on the table. Will Powell push back against this (saying something like “it was just one jobs report, we’ll…
The Reserve Bank of Australia announced a 25 basis point rate hike to 3.35% (the highest level since September 2012), in line with market expectations. The central bank has raised rates by a total of 325 basis points in nine hikes since last April. Affected by inflationary pressures and a tight labor market, the committee said in a statement that further interest rate hikes will continue in the coming months. The central bank expects CPI to fall but remain well above target at 4.75% this year and fall to around 3% in mid-2025. In terms of economic forecasts, the central…
Share: GBP/USD Price Analysis: Cable pares losses on the way to 200-DMA support GBP/USD consolidates recent losses while picking up bids to 1.2050 during early Tuesday morning in Europe, printing the first daily gains in four. In doing so, the Cable pair justifies the nearly oversold RSI (14) as traders await fresh clues. Read more… GBP/USD bulls move in from the lows of a significant daily drop GBP/USD is flat on the day at 1.2025 so far as we enter the Tokyo session with the price sticking to a narrow 1.2013-1.2027 so far. The Pound Sterling fell to a one-month…
Missed the breakout on WTI crude oil earlier on? You might still have a chance to hop in the selloff on this quick retest! Check out the resistance levels I’m watching. WTI Crude Oil (USOIL) 1-hour Chart by TradingView It looks like crude oil bears are back in action! The commodity price fell through the bottom of its falling wedge visible on the short-term time frames, hinting that a drop of the same height as the chart pattern is in the works. Before that happens, though, a pullback might be needed to attract more sellers. The handy-dandy Fib tool reveals…
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