Author: FX
Morgan Stanley notes that their month-end rebalancing model expects the dollar to underperform this month, with their signal suggesting weakness in the greenback against all G10 currencies except the Norwegian Krone. That will add some weight to an already struggling dollar since the turn of the year.Just something to take note of we approach the final few trading days of January. Source link
GBP/USD may hold below 1.2447 for now still, but analysts at Credit Suisse look for an eventual break higher. Break below the 1.1841 January low would mark a decisive reversal lower “GBP/USD has retested and been capped at the 1.2445/47 highs of December. With the sell-off in the USD itself expected to stall for now as already, we see scope for further consolidation beneath here.” “Big picture, we look for an eventual break above 1.2447 to target the May high and 61.8% retracement of the 2021/2022 fall at 1.2668/1.2758.” “Support is seen at 1.2169 initially, then the 55-Day Moving Average,…
BRENT CRUDE OIL (LCOc1) TALKING POINTSCrude inventories weigh on Brent ahead of OPEC next week.Fading USD may find some relief today leaving Brent exposed.Hesitant price action on daily chart. Recommended by Warren Venketas Get Your Free Oil Forecast BRENT CRUDE OIL FUNDAMENTAL BACKDROP Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter Brent crude oil has been rather stagnant yesterday and today with crude oil inventories showing increases via both API and EIA reports. The more recent EIA data saw a 533Mbbls rise from the prior week…
rancho_runner A decision by the U.S. and Germany to send battle tanks to Ukraine has reignited discussions on more advanced weapons platforms, such as fighter aircraft. Lockheed Martin (NYSE:LMT) COO Frank St. John has revealed that there is “a lot of conversation about third party transfer of F-16s,” under which countries would re-export their U.S.-made jets. The company is even going to ramp up F-16 production “to get to the place where we will be able to backfill pretty capably any countries that choose to do third party transfers to help with the current conflict.” While the Biden administration has…
Trading Leveraged Products is risky HK markets reopened today and rallied +2.15%, other Asian markets were softer following a weak handover from Wall Street (opened -1.6% but recovered to close flat) Gold remains at 9-mth highs and USD at 8-mth lows. The Dovish 25bp hike from the BOC hit the CAD (USDCAD hit 1.3430 from 1.3340); – the key phrase the Bank – “expects to hold the policy rate at its current level while it assesses the impact of cumulative interest rate increases.” Speculation building that the BOC could even be raising rates before year end. #TSLA (+0.38%) Earnings beat (+5.5%…
U.K.’s crude oil prices are trading a short-term uptrend! As you can see, Brent crude oil prices have been showing us higher highs and higher lows since breaking a consolidation two weeks ago. UKOIL is now ranging between 85.75 and 86.75, which isn’t surprising since the area is just above the 200 SMA on the 1-hour time frame and a key resistance back in December. More notably, the 86.00 zone also lines up with an ascending channel support that’s been around since the start of the year. Brent Crude Oil (UKOIL) 1-hour Chart by TradingView Can the commodity maintain its…
© Reuters. FILE PHOTO: Andrew Tate and his brother Tristan are escorted by police officers outside the headquarters of the Bucharest Court of Appeal, in Bucharest, Romania, January 10, 2023. Inquam Photos/Octav Ganea via REUTERS BUCHAREST (Reuters) -Divisive internet personality Andrew Tate said on Wednesday there was no justice in Romania and that the case file against him in a criminal investigation for alleged human trafficking and rape was empty. Tate, his brother Tristan and two Romanian female suspects have been in police custody since Dec. 29 pending an ongoing criminal investigation on charges of forming a criminal gang to…
As mentioned yesterday here, bond bears are quietly plotting their move against the BOJ again and today we are seeing 10-year JGB yields climb higher to 0.46%. The Japanese central bank might have doubled down on its yield curve control policy last week but traders seem to be eyeing the bigger picture still.Kuroda & co. might still reaffirm that they are not yet looking to move away from their ultra easy policy but just about everyone and anyone is pinning the central bank to begin pivoting around the summer or right after.It looks like the BOJ will have their work…
Heads up, yen traders! Both GBP/JPY and NZD/JPY are currently testing upside barriers visible on their short-term charts. Will bearish momentum pick up or is there a chance for a breakout? GBP/JPY 1-hour Forex Chart by TradingView Guppy has formed higher lows and hit a ceiling at the 161.00 area, creating an ascending triangle pattern. The pair already bounced off the triangle top and might be setting its sights on support around the 158.00 handle from here. But what are technical indicators saying? Stochastic is in favor of more bearish action, as the oscillator already reached the overbought region to…
NZD/USD is displaying back-and-forth action ahead of US GDP data. The USD Index is aiming to build a cushion around 101.20 despite the risk-on market mood. The Ascending Triangle formation is indicating a squeeze in volatility. The NZD/USD pair is continuously facing hurdles in recapturing the psychological resistance of 0.6500 in the early European session. The Kiwi asset is expected to remain on the tenterhooks as investors are awaiting the release of the United States Gross Domestic Product (GDP) data. The US Dollar Index (DXY) is aiming to build a cushion around 101.20 as anxiety among investors is escalating regarding…