Author: FX
<p style="" class="text-align-justify">That will of course follow the lower house hearing, which will be held at the end of this week on 24 February. As such, expect to hear remarks from Ueda and that might be a trigger for some yen moves when the time comes.</p> This article was written by Justin Low at www.forexlive.com. Source link
I’m seeing consolidation patterns on the 4-hour charts of AUD/JPY and NZD/JPY. Think these pairs are due to break out soon? And which direction might they go? AUD/JPY 4-hour Forex Chart by TradingView First up is this rising wedge pattern formed by higher lows and slightly higher highs on AUD/JPY. The pair has been stuck in this consolidation pattern so far this year, and it looks like it’s ready to bust out soon. Price is hovering close to the wedge resistance just past the 93.00 handle, and moving averages are suggesting that a bullish move is possible. If that happens,…
Share: Silver price holds lower ground near intraday bottom, snaps two-day winning streak. U-turn from key moving average, Fibonacci retracement level joins bearish MACD signals to favor XAG/USD bears. 61.8% Fibonacci retracement adds to the upside filters, $21.40 acts as immediate support. Silver price (XAG/USD) remains depressed around $21.70 during the first loss-making day in three heading into Tuesday’s European session. In doing so, the bright metal portrays a clear reversal from the 200-Hour Moving Average (HMA), as well as the 50% Fibonacci retracement level of its moves between February 09 and 17. Not only the U-turn from…
Swedish Krona, EURSEK, Riksbank, NOK, Crude Oil, US Dollar, AUD/USD, RBA – Talking PointsThe Swedish Krona has been supported by potential hikes from RiksbankThe US Dollar had a quiet session, but a busy US data week lies aheadIf EUK/SEK breaks lower, will the downtrend gain momentum? Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter The Swedish Krona eased slightly today after having a blistering rally yesterday with EUR/SEK hitting a 2-month low.The Riksbank monetary policy meeting minutes revealed a very hawkish tone and core CPI data…
HSBC Holdings reports Q4 results, profit nearly doubles and initiates FY23 outlook Source link
The minutes of the RBA meeting showed that the committee believes the cash rate is currently lower than in many economies, while the data showed a higher than expected breadth and persistence of inflation. They supported continued rate hikes in the coming months (25 bps or 50 bps may be considered, with medium-term inflation expectations holding up well.) On peak interest rates, the Committee noted that this would depend on household income and expenditure outflows, employment and price movements. Chart 1: Japanese manufacturing and services PMI. source: Trading Economics On the other hand, the Asia Pacific trading session saw a…
5/5 © Reuters. A general view shows an apartment building damaged by a Russian military strike, amid Russia’s attack on Ukraine, in the frontline city of Bakhmut in Donetsk region, Ukraine February 19, 2023. REUTERS/Yevhen Titov 2/5 (Corrects Wang Yi’s position in paragraph 20) By Pavel Polityuk and Max Hunder KYIV (Reuters) -Russian President Vladimir Putin was due to make a speech on Tuesday setting out aims for the second year of his invasion of Ukraine, a day after U.S. President Joe Biden walked central Kyiv promising to stand with Ukraine as long as it takes. Following his surprise visit…
Coming up from Canada later today, at 1330 GMT, which is 8.30 Eastern time:As is the case in the US eyes are on Services inflation. This has remained sticky in the US.Bank of Canada Governor Macklem:“We will be watching productivity, labour costs and services price inflation closely.”—A potential loose cannon in the numbers today are revisions that the Stats people in Canada will be making to past CPI readings. They’ll revise CPI-trimmed mean and CPI-weighted median measures back 7 years in time. This is normal procedure but it can induce some weird results that make interpretation, and implications, for the…
Missed the chart pattern breakout on Nvidia (NVDA)? Share prices are in the middle of a pullback to the former neckline, so keep your eyes on these levels! Nvidia Corporation (NVDA): Daily Nvida Corporation (NVDA) Daily Chart by TradingView Shares of this advanced semiconductor company recently busted through the neckline of an inverted head and shoulders pattern, indicating that a long-term uptrend is in the cards. Before all that happens, though, NVDA might need to gather more bullish energy by pulling back to the former resistance zone. This area of interest happens to be spanned by the Fibonacci retracement levels…
Share: USD/JPY picks up bids to print three-day winning streak, grinds near intraday top. BoJ’s Kuroda highlights higher wages, Japan’s Jibun Bank PMIs for February came in mixed. Treasury yields reverse Friday’s pullback as full markets return. USD/JPY grinds higher around intraday top surrounding 134.35-40 amid a three-day uptrend during early Tuesday. In doing so, the Yen pair tracks the recent pick up in the US Treasury bond yields while struggling to justify hawkish comments from Bank of Japan (BoJ) Governor Haruhiko Kuroda and the mixed Purchasing Managers Index (PMI) for February. That said, preliminary readings of Japan’s…