Author: FX

Share: EUR/USD stays defensive after reversing from seven-week high, as well as snapping five-day uptrend. Break of weekly support line, downbeat oscillators favor sellers even if 61.8% Fibonacci retracement prods immediate declines. Recovery moves need validation from 1.0935 to aim for fresh 2023 high. EUR/USD seesaws around 1.0830-20 as the key Fibonacci retracement level probes bears during early Friday, following the Euro pair’s U-turn from a seven-week high the previous day. EUR/USD marked the first daily loss in six on Thursday as it failed to cross the two-month-old horizontal resistance area surrounding 1.0930-35. The following pullback also broke…

GOLD PRICE FORECAST:Gold prices rise following the Fed’s dovish hike at its March FOMC meetingThe U.S. central bank raised rates by 25 basis points, but signaled its tightening cycle is coming to an endThe fundamental outlook remains positive for gold Recommended by Diego Colman Get Your Free Gold Forecast Most Read: Gold Trading – Three Top Tips for Trading GoldGold prices surged on Thursday amid U.S. dollar weakness after the FOMC delivered a dovish interest rate hike and signaled that its tightening campaign may be nearing its end. In late morning trading, XAU/USD was rallying about 1% to $1,986, inching…

Treasuries are mixed with the long end underperforming. The market was underwater overnight but has been paring its losses. And the market has given back only a small portion of yesterday’s post FOMC rally. The bounce in risk appetite, the strength in jobless claims, and a renewal in corporate issuance have weighed a bit. There is also some uncertainty over the FOMC’s stance as the claims data somewhat offsets the dovish read on yesterday’s rate hike. Meanwhile, European bonds are in rally mode despite the rate hikes from the BoE, SNB, and Norges Bank, with…

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© Reuters. Shopify (SHOP) Announces Google Cloud AI Integration Brings Advanced Ecommerce Capabilities to Retailers and Merchants Worldwide Ahead of Shoptalk 2023, one of the retail industry’s most important events, Shopify Inc . (NYSE:)(SHOP) and Google Cloud today announced a new integration that enables retailers using Commerce Components—Shopify’s enterprise retail solution—to leverage Google-quality search capabilities and AI innovations. Enterprise brands on Shopify can today access Google Cloud’s Discovery Al solutions directly through Commerce Components, Shopify’s modern, composable stack for enterprise retail. This integration, which can now be used by Shopify merchants globally and is available in most languages, increases access…

BoE RATE DECISION KEY POINTS: Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter The Bank of England have hiked rates by 25 bps as expected with BoE policymakers Tenreyro and Dhingra voting to keep rates on hold. The BoE stated that Q2 CPI is likely to be lower than forecast in February due to longer energy price caps and lower wholesale prices while expressing their belief that the recent increase in inflation data may not be long-lasting. The strong core goods prices in February were attributed…

Mean reversal trading strategies using a band or channel type of technical indicator is one of the most basic ways many traders trade the market. It is a simple trading method which assumes that price is either too high or too low as it reaches certain price levels using a band type of technical indicator. GRF Leading Edge Indicator The GRF Leading Edge Indicator is a band or channel type of technical indicator which indicates the distance between the current price and the average price of a tradeable instrument. This indicator is somewhat similar to other band type of indicators…

USDJPY Analysis and ChartsUSD/JPY fell sharply after the Fed on WednesdayThe prospect of fewer rate hikes ahead clearly weighed on the GreenbackMajor Japanese businesses remain gloomy, data showed Recommended by David Cottle How to Trade USD/JPY The United States Dollar remained close to seven-week lows against the Japanese Yen as European trade got underway on Thursday. A bout of broad Dollar weakness has followed the Federal Reserve’s decision to raise interest rates again,While this may seem a little counterintuitive, as higher interest rates might be generally expected to support a currency, the Fed weighed in with some more cautious commentary…

US Dollar (DXY) Price and Chart AnalysisIs the US rate hiking sequence coming to an end?Fed chair Powell highlights tighter credit conditions. Recommended by Nick Cawley Trading Forex News: The Strategy A look at the latest Fed Fund rate probabilities currently suggests that the Federal Reserve has raised interest rates for the last time in its battle against above-target inflation. While these probabilities constantly change, and inflation remains uncomfortably high and sticky, chair Powell said that the FOMC had discussed leaving interest rates unchanged yesterday due to the recent banking crisis. In his statement, chair Powell said,‘In assessing the appropriate…

Share: The Central Bank of Brazil (BCB) remained on hold and disappointed dovish longings. Economists at TD Securities expect the rates curve (OD futures curve) and BRL to react to a hawkish BCB by delaying prospects for first cuts towards Q3 and strengthen against the USD towards 5.15 levels, respectively. BCB remains hawkish and vigilant “BCB remained on hold and disappointed dovish longings, as we expected. The central bank kept its hawkish profile justified by higher inflation forecasts, unanchored inflation expectations, and financial-market volatility.” “We expect markets to partially fade prospects of rate cuts in Q1 and Q2.…