Author: FX
The first Quarter of 2023 has shaped up to be a unique one because of the challenging economic landscape that companies have had to operate in over the past 12 months, largely characterised by record high inflation and as a result an environment of high interest rates. As such, Q1 earnings have peaked investors’ interest more than usual. One of the companies due to report their earnings on 14 April 2023 at the opening bell will be BlackRock (NYSE: BLK). Introduction BlackRock, Inc. is a leading global investment management corporation, founded in America in 1988 and based in New York.…
EUR/USD Price, Chart, and AnalysisThe US dollar is stuck in a downtrend and heading for 100.Euro Area industrial production beats expectations. Recommended by Nick Cawley Download our Brand New Euro Forecast Most Read: US Dollar Price Forecast: US Jobless Claims and PPI May Add to USD WeaknessWednesday’s US inflation data and FOMC minutes have pushed the US dollar lower after headline inflation fell for the ninth month in a row, while the Fed minutes showed growing concern that the US economy would enter a ‘mild recession’ later on this year. The US dollar today touched a new eight-week low and…
US Dollar (DXY) News and AnalysisUS disinflation continues but a stubborn core inflation reading elevates the likelihood of a 25-bps hike in MayDXY eying a test of 100 but an interesting zone around 100.85 may keep the dollar afloat in the near-termUS PPI and initial jobless claims could add to the decline later todayThe analysis in this article makes use of chart patterns and key support and resistance levels. For more information visit our comprehensive education library Recommended by Richard Snow See what our analysts foresee for USD in Q2 US Disinflation Continues but Core Remains Sticky, Elevating Chances of…
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GBP/USD – Prices, Charts, and AnalysisUK growth flatlines in February, January was revised higher.GBP/USD nears a fresh multi-month high. Recommended by Nick Cawley Get Your Free GBP Forecast The UK economy stood still in February as industrial action in various areas of the services sector contributed to UK growth flatlining. The latest Office for National Statistics (ONS) monthly GDP data showed no growth in February with the services sector falling by 0.1% compared to a revised higher 0.7% growth in January. According to the ONS, ‘the largest contributions to the fall in services output in February 2023 came from education…
Is the trend still our friend on USD/JPY? This forex pair seems to be in the middle of a correction, so I’d watch out for a potential bounce off these support levels. USD/JPY 1-hour Forex Chart by TradingView I’m seeing higher lows and higher highs on the hourly chart of this one! Will the uptrend resume soon? It looks like the 38.2% Fibonacci retracement near the mid-channel area of interest is attracting some buying interest. If so, this might be enough for USD/JPY to recover to its swing high around 134.00 or the channel resistance. Moving averages are reflecting the…
The US CPI report was good news for bulls as it suggests the FOMC can start easing off the brakes, though this is not likely in May (69% chance of another hike). Some market participants believe one more 25bp and they will be done, others remain Hawkish and that moving CORE CPI & CPE from the 5% to the 3-2% range will prove problematic and this could mean hikes in May and June too. FOMC minutes showed considerable discussions over the banking turmoil, as indicated in Chair Powell’s press conference. The “banking sector” was the literally the lead paragraph of…
Market reversals are excellent trading opportunities where traders can make profits from the market. Many traders may find it risky especially because traders are often trading against an established trend. However, with the right trading probabilities, market reversal strategies can provide an excellent market edge which traders can use to profit from the market. The strategy discussed below is an example of a reversal trading strategy which provides a systematic trade setup based on divergences. i-Spectr Analysis OsMA Indicator The i-Spectr Analysis OsMA Indicator is a custom technical indicator which is based on the Oscillator of Moving Averages (OsMA) Indicator.…
Can’t get enough of shor-term trend setups? I gotchu! Whether you like trading the U.S. dollar or you’re more into currency crosses, I got your back with trend setups on USD/JPY and AUD/CAD’s charts. Take a look! USD/JPY 1-hour Forex Chart by TradingView Dollar warriors gather ’round! USD/JPY has been in an upswing since last week when USD/JPY found support from the 130.75 previous area of interest. Can USD/JPY maintain its momentum? The pair just got rejected at the 133.75 resistance and now it’s trading just under the 133.50 mark. USD buyers can take comfort in the fact that USD/JPY…
At the time of writing, the CME Fedwatch Tool is indicating roughly 69% odds that we will see a 25 bps rate hike next month. The remaining 31% odds are siding with no change, and overall pricing hasn’t changed drastically from before the US CPI data yesterday and earlier this week here.While you would think that the lack of volatility in rates pricing would help to provide some backing to the dollar, that isn’t the case when you look at curve depicted by Fed funds futures for the rest of the year:The pricing continues to indicate a terminal rate of…