Author: FX

Reuters, citing unnamed sources, says the US intel community is examining how Iran would respond to the US declaring victory in the war. That Trump is even considering this is another sign that he’s done with the war. The ‘examination’ part is whether they would open Hormuz.The result may be that we essentially go back to pre-war. Hormuz is open, Iran remains sanctioned and it repairs hundreds of billions in damages.Just now, Trump is posing on Truth in response to yesterday’s criticism from Germany:The Chancellor of Germany, Friedrich Merz, thinks it’s OK for Iran to have a Nuclear Weapon. He…

The Bank of Japan held its rate at 0.75% in a 6-3 vote — its closest call under Ueda — as Middle East conflict clouds the economic outlook. Source link

The Euro (EUR) trims a part of its intraday losses against the US Dollar (USD) on Tuesday as the Greenback loses momentum, with traders repositioning ahead of the Federal Reserve’s (Fed) interest rate decision due on Wednesday, while continuing to monitor developments in the Middle East. At the time of writing, EUR/USD is trading around 1.1707, rebounding from an intraday low of 1.1677.Meanwhile, the US Dollar Index (DXY), which tracks the Greenback’s value against a basket of six major currencies, is trading around 98.66, easing from a daily high of 98.88, up nearly 0.18% on the day. However, the downside…

UAE quits OPEC, likely in a protest over the war. They will be leaving May 1.Oil fell on this on what’s assuredly an algo-driven move. It’s quickly reversed.For oil prices for now it’s meaningless, as OPEC will be pumping at full-bore for a long time after the war to rebuild inventories. For what it’s worth, the UAE produces 3.8 million barrels per day and already planned to boost that to 4.1 million barrels and there has even been talk of 5 million barrels. Source link

Deutsche Bank strategists note that Brent Oil has climbed to its highest level in three weeks as the Strait of Hormuz remains effectively closed and peace talks between the United States (US) and Iran stall. They highlight that Brent is above $100/bbl, with gains extending along the futures curve, and that markets are increasingly pricing a more persistent Oil-driven inflation shock.Brent curve signals persistent strength”We did have the Axios report late on Sunday night US time (mentioned yesterday) suggesting that Iran had offered the US a new proposal to reopen the Strait of Hormuz. As a result, oil prices probably…

The WaveTrend Indicator MT4 addresses this challenge by measuring momentum waves and identifying overbought or oversold extremes before they become obvious to everyone else. Unlike standard oscillators that lag or generate excessive false signals during choppy markets, WaveTrend smooths price data through a dual-averaging process that helps traders spot genuine momentum shifts rather than market noise. What the WaveTrend Indicator Actually Measures WaveTrend is a momentum oscillator that tracks the relationship between current price and average price over a specified period. Think of it as measuring how far price has stretched from its equilibrium point. The indicator oscillates around a…

There are a couple to take note of on the day, as highlighted in bold below.They are all for EUR/USD layered in between the 1.1700 to 1.1750 levels. Given the size of the expiries, we could see more cagey price action in the session ahead in and around the levels noted. That especially if market sentiment remains more guarded and cautious, as we have seen typically to be the case in European trading since last week.That being said, the floor for the pair at the moment remains closer to the 200-day moving average at 1.1675 currently. So, keep that in…

Gold prices fell in India on Tuesday, according to data compiled by FXStreet.The price for Gold stood at 14,228.40 Indian Rupees (INR) per gram, down compared with the INR 14,271.99 it cost on Monday.The price for Gold decreased to INR 165,958.10 per tola from INR 166,474.50 per tola a day earlier.Unit measureGold Price in INR1 Gram14,228.4010 Grams142,285.60Tola165,958.10Troy Ounce442,531.00FXStreet calculates Gold prices in India by adapting international prices (USD/INR) to the local currency and measurement units. Prices are updated daily based on the market rates taken at the time of publication. Prices are just for reference and local rates could diverge…

EUR/JPY is cruising higher but appears to be in correction mode while traders brace for the ECB decision. Check out these potential support levels on the 4-hour chart. Source link

Canada’s central bank is scheduled to announce its monetary policy decision this week! Are they leaning towards hiking interest rates to combat inflation? Source link