Author: FX

RBA delivers “dovish hike”, as inflation may have peaked. The Reserve Bank of Australia hiked its cash rate by 25 bp to 3.6% – the highest since May 2012. The move was widely expected and Governor Lowe delivered a dovish leaning assessment, suggesting that inflation may have peaked. Lowe said that in assessing “when and how much further” rates have to rise, the RBA will pay close attention to incoming data. At the same time, he said that “the monthly CPI indicator suggests that inflation has peaked”, adding that “recent data suggest a lower risk of a cycle in which…

One of the types of strategies which many profitable traders use is a market flow type of trading strategy. These types of strategies utilize price action to identify the possible areas where price may reverse. In particular, market flow traders would often use the swing highs and swing lows of price action to identify support and resistance zones. It is in these areas where they would observe for possible market reversals. Although this trading strategy could be very effective, it is often very difficult to objectively identify possible market reversals especially for new traders. This strategy provides an objective method…

USD under pressure, Yields slightly higher buoyed by investor sentiment which also boosted Stocks after they sagged through US session. (Reuters) – China’s exports & imports dropping for January-February pointed to continued weakness in demand for the country’s products & foreign demand, backing government concerns that a global slowdown will be felt at home. RBA raised rates to 3.60% from 3.35% the highest in more than a decade but suggested it might be nearly done tightening as consumer spending was slowing and there was less risk of a wages-driven inflation blow-out. The bid fell out of…

Germany trade surplus of $116.88B, beats expectations Source link

I’m seeing tighter consolidation on these short-term triangle patterns on EUR/JPY and USD/CAD. Better be ready for these breakouts when they happen! EUR/JPY 1-hour Forex Chart by TradingView First up this ascending triangle pattern forming in the middle of EUR/JPY’s uptrend. The pair is currently testing the triangle resistance, still deciding whether to make a bounce or a break. So where might it head next? Technical indicators are looking mixed for now, as the moving averages are hinting at a potential bullish breakout. If that happens, EUR/JPY might be in for a rally that’s the same size as the formation…

The hopeful optimism of (BTC) traders seemed to dissipate in the first week of March as key on-chain metrics provided resistance. Now Bitcoin is threatening a retest of the $22,000 level, and a wave of short sellers would stand to profit if that occurred. If the short sellers’ strike price hits, some analysts believe Bitcoin could drop as low as $19,000. Bitcoin options by strike price. Source: CoinglassBitcoin supply cost basis by time held. Source: GlassnodeBitcoin exchange volume. Source: GlassnodeBitcoin NUPL. Source: GlassnodeContinue Reading on Coin Telegraph Source link

Gold, XAU/USD, Jerome Powell Testimony, Technical Analysis – Briefing:Gold prices fell on Monday as Treasury yields roseTraders eagerly awaiting Jerome Powell’s testimonyBearish Death Cross in focus on the daily setting Recommended by Daniel Dubrovsky Get Your Free Gold Forecast Gold prices aimed cautiously lower on Monday. The anti-fiat yellow metal inversely tracked Treasury yields. The 2-year government bond rate rallied by 0.6%. XAU/USD can be quite sensitive to Treasuries, which are partly a reflection of monetary policy expectations. This is due to gold’s inherent lack of yield when holding the precious metal. When the return on cash rises, XAU tends…

Australian trade balance data for January 2023, a surplus of AUD AUD The Australian dollar (AUD) is the official currency of Australia, which is also used in Christmas Island, Cocos (Keeling) Islands, Norfolk Island, as well as independent pacific states.Introduced in 1966, the AUD is currently the fifth most traded currency in the world, behind only the US dollar, euro, Japanese yen, and British pound.The currency is very important to forex markets and is routinely used as a carry trade against other majors.The Reserve Bank of Australia (RBA) is the central bank The Australian dollar (AUD) is the official currency…

Share: Gold price remains pressured after reversing from three-week high. Cautious mood, rebound in United States Treasury bond yields allowed XAU/USD bears to sneak in. Federal Reserve Chairman Jerome Powell is up for Testimony before Senate Banking Committee, hawkish comments can weigh on Gold price. Second-tier China data, geopolitical headlines can also entertain XAU/USD traders. Gold price (XAU/USD) holds lower ground near $1,847 after reversing from the highest levels in three weeks. The yellow metal’s latest pullback could be linked to the market’s cautious mood ahead of the key data/events, as well as a rebound in the United…

S&P 500 AnalysisUS indices gain on Monday, following on from Asia and Europe as sentiment easesS&P 500 trading within well-defined support and resistance zonesPowell’s testimony and US non-farms to provide volatility this weekThe 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 Get Your Free Equities Forecast Stocks Rise but Early EPS Forecasts Suggest More Difficulty AheadMajor US equities rose in the initial hours of the US session but early data suggests that corporate earnings are likely to remain suppressed as the…