Author: FX
In life we usually develop repetitive behavior: we wash our faces when we wake up (at least I hope you do!), we eat lunch around noon, we wash our hands after meals, and go to sleep at a specific time. We develop daily routines that help us get through the day. And as creatures of habit, we also go through patterns in forex trading. Over time, we form a routine in the way we process and react to information thrown at us. For example, some people lie to their partners on impulse even if they did nothing wrong just to…
EUR/USD ANALYSIS & TALKING POINTSEUR/USD is close to two month lowsInterest rate prognoses are providing the US Dollar with a lot of supportSome key Eurozone data are due this week Recommended by David Cottle Get Your Free EUR Forecast EURO FUNDAMENTAL BACKDROPEUR/USD is starting a new week close to two month lows, having slid pretty consistently through February.That this may primarily be a ‘US Dollar strength story rather than a ‘Euro weakness’ one may offer Euro bulls a few crumbs of comfort, but they’ve still got work to do.Commentary from the United States Federal Reserve has markets concerned that lower…
Niall_Majury/iStock via Getty Images A post-Brexit trade settlement for Northern Ireland may be within reach as British Prime Minister Rishi Sunak and EU leader Ursula von der Leyen hold talks in London on Monday. At issue is the Northern Ireland Protocol, which has been in place since 2020, but separates portions of the United Kingdom by creating a border in the Irish Sea between mainland Britain and Northern Ireland. Deputy PM Dominic Raab said a deal could aid trade tensions by easing the physical checks on goods demanded by the EU as per the original agreement. It could also restore…
German DAX futures -0.1%UK FTSE futures +0.2%US futures being rather flattish is also indicative that there isn’t much of a risk/market bias as we look towards European trading today. As such, major currencies aren’t having much to work with for now. It is only the aussie and kiwi which are slightly lower amid a more bearish technical skew as highlighted here. Source link
Ready to position yourselves ahead of this week’s market events? This week we’re looking at Tesla’s consolidation while the U.S. dollar and EUR/CHF flirt with major resistance areas. Don’t even think of missing these plays! EUR/CHF 4-hour Forex Chart by TradingView In case you missed it, EUR/CHF has been range-y since November when bulls and bears got over the excitement of finding a bottom in October. This week, EUR/CHF is finding resistance at the .9925 zone that kept the bulls from attacking at least twice in the last month. Will the resistance hold again this time? Stochastic is on the…
Share: GBP/JPY takes offers to extend pullback from one-week-old horizontal resistance. Looming bear cross on MACD, RSI retreat add strength to downside bias. 50-SMA restricts immediate downside, bulls need validation from monthly high. GBP/JPY prints mild losses around 162.75-80 as it pares the previous day’s gains around the intraday low heading into Monday’s London open. In doing so, the cross-currency pair justifies the early-day Doji candlestick formation, as well as the U-turn from a one-week-old horizontal resistance line. Adding strength to the downside bias is the RSI (14) retreat from the +50.0 area, often considered an overbought zone,…
The value of the American Dollar (USD) is slipping after reaching multi-decade highs. After climbing by 22% between May 2021 and September 2022 against the Euro (EUR), the value of the dollar has just seen quite a significant decline since October against the single currency, as the EUR/USD is up almost 13% since then. Is this the beginning of a durable downward trend for the USD, or will the currency bounce back? What about the EUR? Is the single currency able to rise in 2023? In trying to predict the foreign exchange market in 2023, the regulated CFD broker ActivTrades…
© Reuters. FILE PHOTO: The Toyota logo is pictured at the 43rd Bangkok International Motor Show, in Bangkok, Thailand, March 22, 2022. REUTERS/Athit Perawongmetha TOKYO (Reuters) – Toyota Motor (NYSE:) Corp boosted global vehicle production by 9% in January, it said on Monday, marking its first increase in three months but still coming short of its plan due to COVID-19-related parts shortages. Toyota, the world’s largest automaker by volume, said it produced 689,090 vehicles globally in January, an 8.8% increase from the same month last year. That was just short of the 700,000 vehicles it previously said it expected to…
US Dollar, DXY Index, USD, PCE, Treasury Yields, ECB, G-20, USD/JPY – Talking PointsThe US Dollar resumed strengthening as price pressures buildThe Fed reminded markets of their intention and yields respondedEquities and risk assets are struggling. Will USD be boosted by sentiment? Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter The US Dollar has held onto the gains seen going into the close last week after a red-hot core US PCE print on Friday and Fed officials re-iterating their hawkishness.To recap, the core US PCE index…
It’s a quieter week ahead, at least in terms of top-tier economic releases, but here are some potential market movers to watch out for. We’ve got CPI figures from Australia and the eurozone, plus GDP figures also from Australia and Canada. Before all that, ICYMI, I’ve written a quick recap of the market themes that pushed currency pairs around last week. Check it! And now for the closely-watched potential market movers this week: Major Economic Events: U.S. durable goods orders (Feb. 27, 1:30 pm GMT) – This isn’t usually a major market mover, but the lack of any other big…