Author: FX

Headlines:Markets:CHF leads, NZD lags on the dayEuropean equities slightly higher; S&P 500 futures flatUS 10-year yields down 0.6 bps to 3.281%Gold flat at $2,020.04WTI crude down 0.3% to $80.36Bitcoin down 0.8% to $27,920It was a quiet session as European traders are taking it slow and easy ahead of the Easter holiday starting tomorrow.There is still a sense of trepidation but it seems like we will have to look to Wall Street to realise any of the caution and fear before the US jobs report on Friday.The dollar was largely steadier and did little as major currencies also saw rather poor…

Share: If the FX market considers the world to be more uncertain it mainly sees EUR-negative risks, Ulrich Leuchtmann, Head of FX and Commodity Research at Commerzbank, reports. There will always be some disaster somewhere “There will always be some disaster somewhere. As I do not know what that will be, I cannot tell whether the unpredictable will be EUR-positive or EUR-negative. But over the past quarters, higher risk perceptions was typically perceived as EUR-negative.” “The fact that the Euro is trading at relatively high levels at present is due to the fact that there is untypically little…

The tech-heavy NASDAQ 100 took hits from weak U.S. reports yesterday! Will the stock index find enough buyers to extend its uptrend in the next trading sessions? Nasdaq 100 (NDX): 1-hour Nasdaq 100 (NDX) 1-hour Chart by TradingView In case you missed it, closely-watched U.S. reports like the ADP release and the ISM services PMI survey pointed to a weakening labor market. Bad news for the U.S. economy that depends heavily on consumer activity for growth. The NASDAQ 100 stock index, which is populated by a lot of tech companies that have already laid off employees, closed lower on recession…

While Friday’s jobs report is the near term focus, attention is already turning to CPI on April 12. USD wobbled initially and stumbled to 101.4 on the data, but recovered to close at 101.75. Another data miss, a further drop in bonds. Treasuries rallied further after weaker ISM services and ADP numbers added to expectations for a slowing economy that will keep the FOMC hawks grounded, if not in May, then in June. The combination of risk aversion, reduced expectations for Fed tightening, short covering, and technicals all helped propel the move. Wall Street was mixed all session & Asian…

Ready to go with the flow today? Check out these textbook trend correction setups on the 4-hour chart of GBP/JPY and the hourly chart of EUR/AUD. GBP/JPY 4-hour Forex Chart by TradingView Let’s start off with this simple channel correction on the 4-hour chart of Guppy. The pair is already retreating from the resistance and is in the middle of a pullback to the mid-channel area of interest. If this is enough to keep losses at bay, pound bulls could set their sights back on the swing high at the 166.42 level or the channel top. A larger retracement could…

Crude Oil, WTI, Brent, US Dollar, Treasury Yields, Fed, AUD, NZD – Talking PointsCrude oil has paused in its run higher after US data disappointedThe US Dollar and Treasuries rallied as perceived haven assets were boughtIf more data is delivered to the downside, where will WTI go? Recommended by Daniel McCarthy Get Your Free Oil Forecast Crude oil dipped today after US data revealed a potentially softening economy, raising the spectre of a possible looming recession in the world’s largest economy. The data can be viewed here.The US Dollar strengthened into the New York close yesterday and continued to gain…

China services PMI climbs to 28-month high in March amid post-covid optimism Source link

Missed the bearish triangle break on USD/CHF? You might still have a chance to catch the retest of the former support if you’re thinking of shorting! Here are the pullback levels I’m watching. USD/CHF 1-hour Forex Chart by TradingView Retracement alert! After breaking below its descending triangle bottom, USD/CHF looks prime for a pullback to the broken support zone. This happens to be right around the 61.8% Fibonacci retracement level and 100 SMA dynamic inflection point, adding to its strength as a potential ceiling. A shallow pullback might already find sellers at the 38.2% Fib around the .9080 level or…

People’s Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead.USD/CNY is the onshore yuan. Its permitted to trade plus or minus 2% from this daily reference rate.CNH is the offshore yuan. USD /CNH has no restrictions on its trading range.A significantly stronger or weaker rate than expected is typically considered a signal from the PBOC.The previous close was 6.8770PBOC injects 8bn yuan in open market operations (OMOs) via 7 day reverse repos (RRs) at an unchanged rate of 2%439bn yuan of RRs mature todaythus a net drain of 431bn yuan-eur This article was written…

Share: USD/CAD has locked in a tight range ahead of the US/Canada labor market data. The tight US labor market is cooling down as firms have eased their recruitment process. Canada’s Employment Change is seen at 12K and the Unemployment Rate might escalate to 5.1%. The USD/CAD pair corrected below 1.3450 in the early Asian session as the US Dollar Index (DXY) showed a loss in the upside momentum after reaching to the critical resistance of 102.00. The Loonie asset is expected to deliver a power-pack action as investors are awaiting the release of the United States/Canada Employment…