Author: FX
An oversold RSI reading suggests EUR/NZD may be stretched after its recent selloff. Will momentum recover or will support break? Source link
investingLive Americas FX news wrap 15 Jul: USD moves lower on tame PPI. Lower yields !”#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz !”#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz Source link
Here is what you need to know for Thursday, July 16:The US Dollar Index (DXY) falls 0.5% toward 100.40 as softer-than-expected United States (US) wholesale inflation reinforces signs that price pressure is easing. The headline Produce Price Index (PPI) declined 0.3% MoM in June, while the annual rate slowed to 5.5%, below the 6.2% forecast. Core PPI rose 0.2% MoM and 4.7% YoY, also missing expectations. The data reduced the pressure on the Federal Reserve (Fed) to raise interest rates at its July meeting.Fed Chair Kevin Warsh said recent inflation figures remain an imperfect measure of underlying inflation and acknowledged…
Weekly EIA crude oil inventory -1.692 million vs -2.594 million estimate !”#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz !”#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz Source link
BNY’s Geoff Yu highlights that selling of Canadian Dollar (CAD) accounts has eased ahead of the Bank of Canada (BoC) meeting, allowing light CAD purchases after prolonged pressure. He notes USD/CAD selling by CAD-based investors and sees valuations and positioning as supportive, but warns that domestic selling and weak Canadian asset flows still cap upside, arguing for only selective CAD exposure.Flows improve but upside constrained”Ahead of today’s BoC decision, our data show that selling of CAD-denominated accounts has finally eased, allowing light aggregate CAD purchases to emerge after a long period of pressure. BoC pricing will continue to weigh on…
Soft U.S. inflation handed bitcoin its best session in months, but overhead resistance shows up as ECB week begins. Source link
ECB policymaker Nagel says interest rates are at appropriate level after June’s decision !”#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz !”#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz Source link
The Gaussian Channel Indicator MT4 was created to help reduce that problem by showing a smoother view of price action while filtering much of the market noise that causes poor trading decisions.A trader who relies only on raw price movement often reacts to every small swing. During ranging markets, that can lead to repeated losses and emotional trading. Even experienced traders get caught in whipsaws when volatility suddenly increases around major news events or market opens.The Gaussian Channel Indicator MT4 offers a different approach. It builds a dynamic price channel around a smoothed trend line, helping traders judge trend direction,…
DBS Group Research economist Philip Wee warns that speculative long positions in the US Dollar (USD) look vulnerable after June US CPI surprised on the downside. He highlights that CFTC data show USD longs at their highest since 2015, while futures have sharply reduced the implied probability of a September Federal Reserve (Fed) rate hike. Wee underscores Fed Chair Kevin Warsh’s hawkish rhetoric but notes the lack of clear policy guidance.Speculative USD longs look stretched”We are wary of the long USD bets built on a hawkish Fed foundation. According to the CFTC Commitment of Traders Report, gross non-commercial USD long…
June CPI cooled to 3.5%, sinking the dollar in minutes. Then Fed Chair Warsh spoke and clawed part of it back. Here’s how two-stage events work. Source link