Author: FX
The Dollar remains under pressure ahead of key employment data release on Friday. Dollar The Greenback rolls into midweek trading at the lowest level in two months (101.17). Factors attributed to this selling pressure can be linked to several factors this week. Chief among those are the recent challenges to the Dollar’s status as the worlds reserve currency as the Chinese Yuan surpasses the Dollar as the most traded currency for the first time. This comes on the back of the BRICS countries speculate on the possibility of trading amongst one another with an alternative currency to the Dollar. Looking…
Warning: NJDCY is at high risk of cutting its dividend Source link
AUD/USD ANALYSIS & TALKING POINTSRBA Governor Lowe’s hawkish sentiments did little for the AUD but shows intent to extend their tightening cycle if necessary.US economic data in focus today.AUD/USD looking towards rising wedge support, now below 200-day MA. Recommended by Warren Venketas Get Your Free AUD Forecast AUSTRALIAN DOLLAR FUNDAMENTAL BACKDROPThe Australian dollar extended its decline against the U.S. dollar this morning beginning with hawkish commentary from the Fed’s Mester last night. The Cleveland President’s call for a terminal rate above 5% while maintaining a restrictive monetary policy has given then greenback some support. Earlier this morning, the Reserve Bank…
USD remains under pressure, post the weaker than expected JOLTS and factory orders reports which set the stage for another strong rally in Treasuries as they heightened beliefs the FOMC is nearing the end of its tightening cycle. Yields plunged on the data headlines. RBNZ surprised, raised to 5.25% from 4.75% – the country’s economy is headed for recession, defined as two consecutive quarters of negative growth. US Stock markets sold off slightly into the afternoon with declines of about -0.5% as the weaker data dominated. BoE’s Hunt hinted for a rate rise in May.…
Looking to catch that sharp surge in gold prices? Here are some levels to watch if you’re going for a breakout or a pullback. Gold (XAU/USD) 1-hour Chart by TradingView Remember gold’s symmetrical triangle pattern we were watching a few days back? Not only did the precious metal bounce off the support area, but it also busted through the triangle resistance and $2,000 major psychological mark! If you’re looking to hop in on this rally, you might wanna consider waiting for a short-term correction to this month’s newly-forming ascending trend line. This happens to be right above the former triangle…
© Reuters. Ether (ETH) has breached $1,900 for the first time in over seven months, a week before staking withdrawals are enabled in the next major update for the second-largest cryptocurrency by market capitalization. CoinMarketCap data shows the last time Ether was over $1,900 was on Aug. 16, 2022, amid a broader crypto sell-off at a time when the United States Federal Reserve was hiking the Federal Funds rate at a record pace to combat inflation. ETH price action since August 2022. Source: CoinMarketCapContinue Reading on Coin Telegraph Source link
Who’s ready to trade commodity-related currency pairs? If you are, then you’re gonna love what’s up on CAD/CHF and NZD/JPY’s charts! Take a look at these setups: CAD/CHF 1-hour Forex Chart by TradingView First up is a nice and simple uptrend for CAD/CHF. As you can see, the pair has been giving us higher highs and higher lows since mid-March. CAD bulls can take advantage of CAD/CHF’s uptrend as the pair retests the support of an ascending channel and Stochastic leaves its oversold conditions on the 1-hour time frame. The .6760 previous inflection point is a good place to start…
EUR/USD 1.0900 (EUR4.29bn), 1.1000 (EUR2.17bn), 1.0950 (EUR2bn)USD/JPY 133.00 (USD1.32bn), 131.00 (USD1.17bn)USD/CAD 1.3600 (USD1.37bn), 1.3555 (USD311mn)GBP/USD 1.2500 (GBP844.8mn)AUD/USD 0.6700 (AUD559.1mn), 0.6760 (AUD422.5mn)NZD/USD 0.6215 (NZD310mn)EUR/GBP 0.8800 (EUR465mn), 0.8805 (EUR370.2mn)For more information on how to use this data, you may refer to this post here. Source link
Share: USD/CHF holds lower grounds after refreshing multi-day bottom. Downside break of two-month-old ascending trend line, bearish MACD signals favor sellers. Oversold RSI highlights August 2021 low as nearby key support, 61.8% FE lures bears. Buyers remain away unless the quote stays below 0.9180. USD/CHF bears take a breather at the lowest levels since August 2021, making rounds to 0.9050 during early Wednesday. The Swiss Franc (CHF) pair refreshed the multi-day low and portrayed a three-day downtrend earlier in Asia while justifying the previous day’s break of the key ascending support line from early February, now immediate resistance…
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