Author: FX
EUR/USD PRICE, CHARTS AND ANALYSIS: Recommended by Zain Vawda Get Your Free EUR Forecast READ MORE: Markets Week Ahead: Gold, Nasdaq, US Dollar; Earnings, US PCE, Euro Area and US GDPEUR/USD FUNDAMENTAL BACKDROPEURUSD enjoyed a modest bounce following the European open today as it struggles to find acceptance above the 1.1000 handle. Overall, a relatively subdued start for markets in what is a big week packed with economic data releases.German Ifo data released this morning did indicate a marginal improvement. However, the current assessment and below average expectations will do little to remove fears of stagflation in Europe’s most industrialized…
On the daily chart below for the Dow Jones, we can see that the price keeps pulling back from the 34285 high reached before the US Retail Sales missed expectations across the board. The sellers are targeting the support at 33538 and the red long period moving average. That’s the spot where we are likely to find the buyers and the price to bounce. Last Friday, the market extended the fall as the US PMIs beat expectations and the details about inflation were not encouraging. On the 4 hour chart below, we can see that the price was trading within…
Share: “Geopolitics risk persistent inflation volatility,” the European Central Bank’s executive board member, Fabio Panetta, said on Monday. Panetta added that “globalization may influence the natural rate of interest.” Market reaction The above comments fail to have any impact on the Euro, as EUR/USD is trading close to the intraday high at 1.1021, as of writing. The spot is up 0.27% on the day. Source link
Yo is there any chance for bitcoin to climb back above $30K again?! BTC/USD returned most of its gains last week before pulling up from $27,200. Since then, price has formed higher lows and higher highs inside an ascending channel formation. Can this short-term support area keep losses in check? Bitcoin (BTC/USD) 15-min Chart by TradingView So far, buyers seem to be defending the floor, especially since technical indicators are hinting at bearish exhaustion. Not only is Stochastic reflecting oversold conditions, but the 100 SMA is also above the 200 SMA to suggest that the path of least resistance is…
Trading Leveraged Products is risky The USD continues to rotate (USDIndex at 101.60) as PMI data surprised to the upside (Composite hit a 11-mth high) and added to 25bp hike (CME Fed Funds Futures 89%) expectations next week from the FOMC. Treasuries rose & the 2/10 yield curve is now 60 bp inverted. Stocks closed flat 10.4% JPY slips after Ueda suggest no change to policy this week. AUD & NZD lower. Oil continues to decline and USOil is below $77.00, Gold is at $1980 as USD holds and yields remain bid, & BTC is…
Top-tier inflation reports from Australia and the U.S. could trigger a breakout for AUD/USD this week! On the hourly chart below, you can see that the forex pair is forming a descending triangle at the middle of its range. Will we see a breakdown to the range support or a pop higher back to the resistance? Before you check out the setup, make sure you know all of last week’s major market movers as well as this week’s potential market catalysts! AUD/USD 1-hour Forex Chart by TradingView Check out AUD/USD hanging out at the area of interest around the middle…
Ueda’s comments were posted here:Ueda was asked what would be the conditions for the Bank of Japan to consider tweaking YCC:BOJ BOJ The Bank of Japan (BOJ) is the central bank of Japan. It was established in 1882 and is headquartered in Tokyo.The BOJ’s main responsibilities include issuing and managing the country’s currency, implementing monetary policy, and ensuring the stability of the financial system. It also acts as a lender of last resort to banks during times of financial crisis. The BOJ sets the interest rate of the country and sets an inflation target, aiming to achieve 2% inflation.The BoO…
Share: Gold price is keeping its auction steadily above $1,980.00 amid the subdued USD Index. S&P500 futures have generated losses as investors are anxious ahead of quarterly results from giant technology stocks. Gold price is expected to display sheer weakness after a breakdown of immediate support plotted from $1,969.26. Gold price (XAU/USD) is holding its auction above the critical support of $1,980.00 in the Asian session. The precious metal is struggling around $1,985.00 as the US Dollar Index (DXY) is showing mixed signals around its crucial support of 101.63. After topsy-turvy moves in a wide range of 101.63-102.27…
Meta Platforms (formerly known as Facebook, Inc.) shall report its earnings result for Q1 2023 on 26th April (Wednesday), after market close. The technology conglomerate with market cap over $550B which is based in California, US, engages in connecting people and community as well as helping businesses to grow through its Family of Apps (FoA) including Facebook, WhatsApp, Instagram, Messenger etc. The company is also working on the development of augmented and virtual reality related consumer hardware, software and content (these are grouped under the Reality Labs (RL) segment), hoping to expand beyond 2D screens into the future of digital connection,…
© Reuters. Smoke is seen rise from buildings during clashes between the paramilitary Rapid Support Forces and the army in Khartoum North, Sudan. April 22, 2023. REUTERS/ Mohamed Nureldin Abdallah By Khalid Abdelaziz and Nafisa Eltahir KHARTOUM (Reuters) -The armed forces of the United States and the United Kingdom have evacuated embassy staff from Sudan, while other nations rushed to get their citizens to safety as rival military factions battled in the capital Khartoum on Sunday. The eruption of fighting eight days ago between the army and the Rapid Support Forces (RSF) paramilitary group has triggered a humanitarian crisis, killed…