Author: FX
On Tuesday, the AUDUSD fell sharply with the US stocks tumbling lower. On Wednesday, the pair moved higher as stocks corrected some of the declines. Yesterday, it was back down as stocks slid again. Today with the stocks falling again, the AUDUSD has not moved lower, but is trading up and down within a technical range. The price action is diverging from the recent norm.In the video above, I take a look at the AUDUSD pair from a technical perspective and outline the key levels in play as traders take a breather from the risk-off/risk-on price action. Source link
Silver (XAG/USD) trades little changed on Friday, hovering near $48.30 at the time of writing after easing from intraday highs, as the market remains directionless heading into the weekend. The metal has struggled to find fresh catalysts this week, consolidating within a narrow band despite lingering uncertainty in global markets.XAG/USD Daily ChartThe metal has been consolidating within a well-defined horizontal range between $46.00 and $49.50 for nearly two weeks, reflecting an accumulation phase following its sharp retreat from the record high of $54.86 reached on October 16.The 21-day Simple Moving Average (SMA) near $49.46, and the 50-day SMA around $46.32…
AUD/USD trades sideways on Friday, around 0.6480 at the time of writing, following the release of a key indicator that showed a significant deterioration in US consumer confidence. The University of Michigan’s Consumer Sentiment Index dropped to 50.3 in November from 53.6 in October, missing expectations of 53.2, reflecting growing concerns about inflation and the broader economic outlook.Breaking down the data, the Current Conditions Index fell to 52.3 from 58.6, while the Expectations Index declined to 49. Inflation expectations were mixed, with the 1-year outlook edging up to 4.7%, while the 5-year measure eased to 3.6%. This combination of persistent…
Unless you were too busy checking out your AI investments, you should know that the Bank of England (BOE) held its interest rates at 4%, but just barely. The vote split 5 to 4, with four members wanting to cut immediately, much tighter than the 6 to 3 economists expected. Governor Andrew Bailey cast the deciding vote to wait, but his comments made it clear: a December rate cut is coming. Here’s what happened, why markets reacted the way they did, and what to watch next. What Happened: A Knife-Edge Decision On Thursday, the BOE held interest rates at 4%…
The EURUSD started the US session with the price higher and just above the broken 200 hour MA near 1.15525. Buyers on the dip in the early trading, defended that level and that has led to increased upside momentum with new highs for the week. The price has also moved to the next key target area defined by the 61.8% and the high of a swing area at 1.1591 where sellers leaned. In the video, I take a look at the technicals in play and look to answer “What next?” This article was written by Greg Michalowski at investinglive.com. Source…
GBP/USD hovers around 1.3150 as US shutdown dampens households’ sentimentGBP/USD clings to minimal gains on Friday amid the lack of economic data releases in the UK and as markets digest scarce economic data as the US government shutdown continues. The pair trades at 1.3148, up 0.10% after hitting a daily low of 1.3094. Read More…Pound Sterling declines as BoE expects weak near-term demandThe Pound Sterling (GBP) trades lower against its major currency peers, except the New Zealand Dollar (NZD), on Friday. The British currency has come under pressure after the Bank of England (BoE) decided to hold interest rates steady…
The Euro (EUR) extends its rebound against the US Dollar (USD) on Friday, building on renewed weakness in the Greenback. At the time of writing, EUR/USD is trading near 1.1575, its highest level since October 30.The pair is showing strong upside momentum after briefly sliding to a three-month low on Wednesday and is on track to post a weekly gain following two consecutive weeks of declines.On the daily chart, the pair remains confined within a descending parallel channel that has guided price action since September 17, when EUR/USD peaked at 1.1918, its highest level since June 2021. The latest rebound…
GBP/USD clings to minimal gains on Friday amid the lack of economic data releases in the UK, as markets digest scarce economic data amid the ongoing US government shutdown. The pair trades at 1.3148, up 0.10% after hitting a daily low of 1.3095.Sterling edges higher as Dollar steadies; weak US sentiment data and Fed comments cap market optimismThe Greenback has recovered some ground during the week, yet it remains poised to end with losses of 0.27%, according to the US Dollar Index (DXY), which measures the buck’s value against a basket of six currencies. The DXY is at 99.45 after…
Gold (XAU/USD) trades slightly firmer on Friday, holding within the familiar $3,900-$4,050 range as the prolonged United States (US) government shutdown and cautious sentiment across global markets keep safe-haven demand steady. At the time of writing, XAU/USD is trading around $4,000, up nearly 0.50% on the day after ending Thursday with modest losses.Gold draws mild support from softer risk appetite, with global equity indices edging lower amid weakness in US technology and AI-linked stocks. Investors remain wary of stretched valuations and the potential for further market correction, prompting some rotation into defensive assets.The precious metal also finds a safety bid…
After the selling yesterday, we’re starting to see signs of caution again in markets today. Risk appetite held steadier early in the day but is now beginning to turn once more. It’s clear that there’s some modest de-risking taking place across broader markets this week, with Bitcoin once again set to be put to the test of the $100,000 mark as well.As for stocks, we’re seeing things turn lower now in European morning trade. The DAX is down 0.6% and CAC 40 down 0.3% on the day. This comes as S&P 500 futures are also dropping, seen down 0.1%, with…