Author: FX

Risk assets cheered the U.S.-China trade truce announced early in the week, but optimism appeared to fade and the focus shifted to geopolitical tensions and mostly downbeat U.S. data. Crude oil had a rollercoaster run thanks to a fresh round of U.S. sanctions on Iran, before rumors of a possible nuclear deal hit the newswires. Check out the market headlines that rocked price action this week! This Article Is For Premium Members Only Become a Premium member for full website access, plus get: Ad-free experience Daily actionable short-term strategies High-impact economic event trading guides Unlimited Access…

Wall Street advances on trade hopes, data shows investor pessimism Source link

AUD/NZD trades near the 1.0900 zone with minor losses on Friday.The pair maintains a bullish outlook despite mixed short-term signals.Key support is clustered below 1.0880, with resistance near 1.0920.The AUD/NZD pair is experiencing mild selling pressure on Friday, hovering near the 1.0900 zone as the market approaches the Asian session. Despite the minor losses, the broader technical outlook remains constructive, with several key indicators aligning to support the pair’s upward trajectory. However, conflicting short-term signals suggest that further gains may face headwinds, as traders navigate a mix of buy and sell pressures.AUD/NZD maintains a generally bullish structure, supported by the…

Moody’s RatingsThe US government is in the middle of discussing a generational tax cut and Moody’s just voted.The ratings agency downgraded the full faith and credit of the USA to Aa1 from Aaa. That means that all three ratings agencies have now removed the US top rating.The drop comes a year after Moody’s lowered its outlook on the US. That was a sign this could be coming but the usual 18-24 month guideline was spend up so that it would be lobbed at a high stakes time. Moody’s says the new rating is stable but also highlights the obvious problem.”Successive…

AUD/USD trades near 0.6400 with a cautious tone ahead of RBA rate decision.US consumer sentiment weakened, while inflation expectations climbed, adding to market uncertainty.Technical levels suggest support at 0.6399 and resistance near 0.6414, reflecting a range-bound market.The AUD/USD pair is trading around the 0.6400 level during European trading hours on Friday, reflecting a broadly neutral tone as traders await the Reserve Bank of Australia (RBA) interest rate decision next week. The US Dollar Index (DXY) is holding near 101.00, up modestly after a week of mixed US economic data. Despite this, the Australian Dollar remains under pressure amid ongoing trade…

XAG/USD capped at $32.73 (50-day SMA), supported by 100-day SMA near $31.88 amid choppy trade.RSI flat near neutral; a break above $33.00 is needed to turn bias bullish toward $33.50–$34.51A drop below $32.00 may expose $31.65 and the 200-day SMA at $31.23 as bearish pressure builds.Silver prices edged lower on Friday, with losses of over 1%, set to end the week on a negative note amid rising US Treasury yields, which staged a comeback late during the North American session. XAG/USD trades at $32.26 after hitting a daily peak of $32.68 at the time of writing.XAG/USD Price Forecast: Technical outlookXAG/USD…

Moody’s Ratings agency downgraded the US’s sovereign debt credit rating after the market close on Friday. According to Moody’s, the US is facing rising debt funding costs that far exceed those of similar government debt loads. Moody’s specifically highlighted US interest obligations “that are significantly higher than similarly rated sovereigns”.Moody’s has lost faith that the US government will be able to make and execute multi-year reduction plans for reducing its deficits and debt and stating, “Successive US administrations and Congress have failed to agree on measures to reverse the trend of large annual fiscal deficits and growing interest costs.”Key highlightsUnited…

NZD/JPY trades near the 85.70 zone with minor gains on Friday.The pair maintains a bearish outlook despite mixed technical signals.Key support is clustered below 85.60, with resistance near 86.00.The NZD/JPY pair is attempting to hold on to modest gains as it trades near the 85.70 zone ahead of the Asian session on Friday. Despite the slight uptick, the broader technical picture remains tilted to the downside, reflecting the influence of longer-term bearish signals that have kept the pair within a tight range recently. Traders appear hesitant to push the pair significantly higher, reflecting a cautious tone as they assess the…

Markets:WTI crude oil up 88-cents to $62.50US 10-year yields down 2.3 bps to 4.43%Gold down $46 to $3193S&P 500 up 0.6%USD leads, CHF lagsThe FX market was lacklustre on Friday with no real driving force behind any of the moves. An earlier report about Japan balking at US trade negotiations didn’t get much traction and the market was middling.It eventually sprang to life after the UMich report, which once again showed a dismal reading on consumer confidence but it was likely the continued surge in inflation expectations that caught the market’s attention. That reversed a drop in yields and pared…

Mexican Peso appreciates as USD/MXN dips to 19.47 after disappointing US sentiment data.Banxico cuts benchmark rate by 50 bps, but Peso holds firm as US data dents Greenback strength.U. of Michigan survey shows inflation expectations rising and consumer sentiment at multi-year low.Traders now price in 51 bps of Fed easing by year-end; eyes turn to next week’s Mexico GDP and US PMIs.The Mexican Peso (MXN) erases its previous losses against the US Dollar (USD) on Friday and Is set to finish the week with gains. A day ago, Banco de Mexico (Banxico) reduced the main reference rate, though it failed…