Author: FX
GBP/USD PRICE, CHARTS AND ANALYSIS: Recommended by Zain Vawda Get Your Free GBP Forecast GBP/USD FUNDAMENTAL BACKDROPGBPUSD is having an intriguing week thus far and largely at the mercy of overall market sentiment and the DXY. There has been a lack of concrete data on the economic docket to give GBP any sort of impetus as market sentiment and its effects on the dollar dominate.This theme has continued this morning as GBPUSD has rallied higher and almost recovered the entire Tuesday selloff which touched a low of 1.2387. Sentiment improved overnight as markets appear satisfied that the news out of…
Share: AUD/USD drops to its lowest level since mid-March in reaction to softer domestic CPI print. The emergence of fresh USD selling lends some support to the major and helps limit losses. Traders now look forward to the US Durable Goods Orders data for short-term opportunities. The AUD/USD pair adds to the previous day’s heavy losses and remains under some selling pressure for the second successive day on Wednesday. The pair maintains its offered tone through the first half of the European session and is currently placed around the 0.6600 mark, or its lowest level since mid-March. The…
United Microelectronics misses Q1 topline estimates Source link
The USD rebounded to 101.56. It’s off to the races for bond bulls as mostly weaker US data and bank earnings unnerve investors and underpin a flight to bonds (US consumer confidence index dropped to 101.3 in April). Tech giants Alphabet and Microsoft both reported better-than-expected earnings and revenue for the most recent quarter after the close. But the UPS & First Republic Bank selloff and in general financial stocks dragged. Asian stock markets mostly struggled amid fresh concern about the health of the financial sector. Treasury yields are sharply lower again, even ahead of…
GER40, Daily European equity markets headed lower on Wednesday amid renewed concerns about the wider impact of the recent banking crisis. First Republic shares slumped 49.4% on Tuesday, after the US-based regional bank revealed that deposits shrank by 41% to $104.5 billion in the last quarter, much more than analysts expected. Investors are now looking forward to earnings reports from major European companies such as Standard Chartered, Deutsche Boerse, MAN Group, Roche and Dassault Systemes. The market will also assess a number of European data including Italian GDP, as well as German and French consumer confidence data. Meanwhile, Germany’s GfK…
Check out these higher lows and lower highs on EUR/USD! The pair is consolidating inside a triangle pattern on its hourly time frame, and it might be gearing up for a breakout soon. Risk appetite has been switching on and off for the past few days, though, so we might still see a bit more sideways price action until the top-tier U.S. reports are released later on. Here are the levels you should keep tabs on if you’re going for either a bounce or a break. EUR/USD 1-hour Forex Chart by TradingView Price is within striking distance of its triangle…
The dollar was pushed to the brink but it continues to hold on, as the push and pull in markets continue since last week. Here are some technical developments to be wary of at the moment:EUR/USD holds at weekly resistance around 1.1033, held back below 1.1000 for nowGBP/USD stutters after testing resistance at the 1.2500 mark againEUR/JPY retreats after running up against October high of 148.40Gold trades in and around $2,000 mark, daily support at $1,981 still holdingWTI crude hangs on at the 100-day moving average, seen at $76.75 currently10-year Treasury yields retreat further from 100-day moving average, key floor…
Looking for more ways to trade the U.S. dollar? We’re keeping close tabs on a possible reversal for USD/CHF. Check out this 4-hour chart: USD/CHF 4-Hour Forex Chart by TradingView USD/CHF has been showing lower highs and lower lows, falling from a high of .9440 in early March to its current .8900 prices. What makes the pair interesting today is that it’s showing a Double Bottom pattern on the 4-hour time frame. More importantly, the pattern’s “neckline” lines up with a trend line and 100 SMA resistance on the chart. Will USD/CHF extend its weeks-long downtrend? Or will USD see…
Share: USD/INR is attempting a break above 82.00 ahead of US Durable Goods Orders data. An expansion in orders for Durable Goods to manufacturers indicates strong demand from households. Bottoming out US real estate despite higher interest rates from the Fed indicates that recession is not in picture for now. The USD/INR pair is making efforts to break above the immediate resistance of 82.00 in the Asian session. The asset is expected to discount the overnight gains in the US Dollar index (DXY) supported by a recovery in the United States real estate market. Upbeat New Home Sales…
Is the dollar in for more losses against the yen? In case you missed it, recession concerns in the U.S. got traders backing off from their uber hawkish Fed expectations. It also didn’t help USD/JPY bulls that Bank of Japan’s (BOJ) new head honcho Kazuo Ueda is dropping hints that he and his team are open to tweaking their yield curve control (YCC) program to allow short and long-term interest rates to rise a little from their current levels. USD/JPY 1-hour Forex Chart by TradingView The shifts in U.S. and Japanese monetary policy expectations likely contributed to USD/JPY getting rejected…