Author: FX

Japan and the Yen – 2023 Outlook The Japanese Yen was the weakest currency in 2022 because of the Bank of Japan’s commitment to maintaining a loose monetary policy, effectively widening the Yield differentials with other major economies – particularly the US. The Federal Reserve on the other hand was the most hawkish among the major central banks, hiking interest rates to the upper band of 4.50%. USDJPY rallied as high as 32% in 2022, in mid-October, before pulling back tangibly in the last 2 months of the year as the FED tilted less hawkish, slowing the pace of rate…

Gold (XAU/USD) AnalysisGold maintains bullish momentum after welcome CPI dataGold faces fresh resistance above 1900 which may pose too stern a challenge as overbought signals sound the alarm for bullish continuation playsThe 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 Find out what’s in store for the precious metal Gold Maintains Bullish Momentum after Welcome CPI dataGold has enjoyed a phenomenal bull run since the early November retest of the September low and has shown little sign of slowing down. In…

The eurozone is about to release its industrial production figures while EUR/NZD is breaking above its neckline. Can this reversal gain any traction? Before moving on, ICYMI, yesterday’s watchlist looked at the downtrend on USD/JPY ahead of the U.S. CPI release. Be sure to check out if it’s still a valid play! And now for the headlines that rocked the markets in the last trading sessions: Fresh Market Headlines & Economic Data: U.S. headline CPI down by 0.1% m/m as expected in Dec U.S. core CPI posted 0.3% m/m uptick as expected vs. previous 0.2% gain Chinese trade surplus widened from…

Urbana raises dividend by 10% to CAD 0.11 Source link

© Reuters. FILE PHOTO: A man wearing a protective mask walks past the headquarters of Bank of Japan in Tokyo, Japan, May 22, 2020. REUTERS/Kim Kyung-Hoon LONDON (Reuters) – Japan’s central bank looks set to raise its inflation forecasts and debate further policy tweaks, just as business leaders and policymakers descend (in person this time) on the Swiss resort of Davos to put the world to rights. U.S. earnings and retail sales numbers, a slew of China data and inflation readings elsewhere mean there’s plenty to mull over. Here’s a look at the week ahead in markets from Kevin Buckland…

The December CPI report came in as advertised, indeed even better than expected for the headline. Treasuries saw strong gains, while there were more moderate gains on Wall Street. Overall inflation continues to come down & Fed Harker & Bullard comments boosted expectations the FOMC will further downshift rate hikes with a 25 bp increase seen in February. Yields dropped measurably. Futures markets have priced in 25 bp and several rate cuts this year. The USDIndex slumped to 101.79 yesterday. Today eased at 102.00. EUR – held above 1.0800. JPY – rallies to 7-month high…

Heads up, gold bulls! The shiny metal has been on a tear for the past few days, but it might be closing in on some upside targets. Check out these long-term resistance levels. Gold (XAU/USD) Weekly Forex Chart by TradingView Can gold head any higher from here? Thanks to subdued U.S. inflation reports, the commodity managed to chalk up another strong run that lifted it past the mid-channel area of interest on the weekly time frame. Price is also up to the 61.8% Fibonacci retracement level near the $1,900 resistance, which might convince bulls to book profits for now. Sustained…

If market players were looking for a straightforward trade from the US CPI data yesterday, it certainly wasn’t the case. But at the end of the day, things settled down in favour of those betting on a toned down approach from the Fed. The dollar dropped as a result and the two notable gainers were the euro and yen.Both currencies though have other things going for them with the euro also influenced by the rise of EUR/CHF above parity, with the euro area’s prospects being not as bad as they were before the winter. Meanwhile, the yen is being heavily…

Oil prices have turned sideways after failing to extend recovery to near $80.00. The black gold price has not run out of steam as the US administration is ceasing oil supply to China. Falling US inflation has triggered odds of a slowdown in the pace of the Fed’s policy tightening. West Texas Intermediate (WTI), futures on NYMEX, have sensed a lack of strength in its upside journey toward the critical resistance of $80.00. The oil price has faced barricades in stretching its rally further around $79.40 amid profit-booking, however, the upside bias is still solid. The oil price has been…

Got Friday the 13th vibes? Don’t worry. The only way you’ll lose pips today is if you aren’t prepared with your setups and your risk management. Tilt the odds in your favor by marking AUD/USD’s channel and GBP/USD’s potential reversal! AUD/USD 1-hour Forex Chart by TradingView It looks like AUD bulls are stepping up their game as AUD/USD accelerates its uptrend on the 1-hour time frame. As you can see, the pair busted above an ascending channel to form another ascending channel above the previous one. Even the simple moving averages showed the uptrend acceleration with the 100 SMA widening…