Author: FX
US Dollar (DXY) News and AnalysisUS disinflation continues but a stubborn core inflation reading elevates the likelihood of a 25-bps hike in MayDXY eying a test of 100 but an interesting zone around 100.85 may keep the dollar afloat in the near-termUS PPI and initial jobless claims could add to the decline later todayThe 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 See what our analysts foresee for USD in Q2 US Disinflation Continues but Core Remains Sticky, Elevating Chances of…
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GBP/USD – Prices, Charts, and AnalysisUK growth flatlines in February, January was revised higher.GBP/USD nears a fresh multi-month high. Recommended by Nick Cawley Get Your Free GBP Forecast The UK economy stood still in February as industrial action in various areas of the services sector contributed to UK growth flatlining. The latest Office for National Statistics (ONS) monthly GDP data showed no growth in February with the services sector falling by 0.1% compared to a revised higher 0.7% growth in January. According to the ONS, ‘the largest contributions to the fall in services output in February 2023 came from education…
Is the trend still our friend on USD/JPY? This forex pair seems to be in the middle of a correction, so I’d watch out for a potential bounce off these support levels. USD/JPY 1-hour Forex Chart by TradingView I’m seeing higher lows and higher highs on the hourly chart of this one! Will the uptrend resume soon? It looks like the 38.2% Fibonacci retracement near the mid-channel area of interest is attracting some buying interest. If so, this might be enough for USD/JPY to recover to its swing high around 134.00 or the channel resistance. Moving averages are reflecting the…
The US CPI report was good news for bulls as it suggests the FOMC can start easing off the brakes, though this is not likely in May (69% chance of another hike). Some market participants believe one more 25bp and they will be done, others remain Hawkish and that moving CORE CPI & CPE from the 5% to the 3-2% range will prove problematic and this could mean hikes in May and June too. FOMC minutes showed considerable discussions over the banking turmoil, as indicated in Chair Powell’s press conference. The “banking sector” was the literally the lead paragraph of…
Market reversals are excellent trading opportunities where traders can make profits from the market. Many traders may find it risky especially because traders are often trading against an established trend. However, with the right trading probabilities, market reversal strategies can provide an excellent market edge which traders can use to profit from the market. The strategy discussed below is an example of a reversal trading strategy which provides a systematic trade setup based on divergences. i-Spectr Analysis OsMA Indicator The i-Spectr Analysis OsMA Indicator is a custom technical indicator which is based on the Oscillator of Moving Averages (OsMA) Indicator.…
Can’t get enough of shor-term trend setups? I gotchu! Whether you like trading the U.S. dollar or you’re more into currency crosses, I got your back with trend setups on USD/JPY and AUD/CAD’s charts. Take a look! USD/JPY 1-hour Forex Chart by TradingView Dollar warriors gather ’round! USD/JPY has been in an upswing since last week when USD/JPY found support from the 130.75 previous area of interest. Can USD/JPY maintain its momentum? The pair just got rejected at the 133.75 resistance and now it’s trading just under the 133.50 mark. USD buyers can take comfort in the fact that USD/JPY…
At the time of writing, the CME Fedwatch Tool is indicating roughly 69% odds that we will see a 25 bps rate hike next month. The remaining 31% odds are siding with no change, and overall pricing hasn’t changed drastically from before the US CPI data yesterday and earlier this week here.While you would think that the lack of volatility in rates pricing would help to provide some backing to the dollar, that isn’t the case when you look at curve depicted by Fed funds futures for the rest of the year:The pricing continues to indicate a terminal rate of…
Share: USD/INR remains sidelined after snapping three-day downtrend the previous day. IMF expects India to lead global growth numbers, softer CPI appears already priced in. Downbeat US inflation numbers, unimpressive Fed Minutes weigh on US Dollar. Risk catalysts, more inflation clues eyed for clear directions. USD/INR remains indecisive around 81.90 during early Thursday, following its first daily fall in four the previous day. In doing so, the Indian Rupee (INR) pair traces the broad market moves amid a light calendar and mixed macros. The USD/INR pair’s fall on Wednesday could be linked to the downbeat US data and…
The U.S. dollar index (DXY) is not making new monthly lows despite signs of less tightening from the Fed! In case you missed yesterday’s headlines, you should know that the highly-anticipated U.S. CPI report showed the headline inflation slowing down from 6.0% to 5.0% y/y in March. Meanwhile, the release of the FOMC’s latest meeting minutes confirmed speculations that the recent banking crisis has made at least a few Fed members think twice about their plans to aggressively tighten their monetary policies to rein in inflation. So, if inflation is slowing and the Fed isn’t as hawkish as it was…