Author: FX
Australian Dollar (AUD) may edge lower; any decline is likely part of a lower range of 0.6580/0.6620. In the longer run, AUD remains neutral but is now expected to trade in a narrower range of 0.6555/0.6640AUD remains neutral but is now expected to trade in a narrower range of 0.6555/0.6640. AUD/USD remains neutral 24-HOUR VIEW: “When AUD was at 0.6595 in the early Asian session last Friday, we held the view that it ‘could test the support at 0.6570 before recovering.’ Our expectation did not materialise, as AUD traded in a quiet manner between 0.6590 and 0.6614, closing largely unchanged…
EUR/JPY has surged past its 2024 and September highs, confirming renewed bullish momentum. A short-term pullback toward 175.00/174.70 could attract buyers, keeping the broader uptrend intact with upside targets at 177.60 and 178.80, Société Générale’s FX analysts note. Strong uptrend extends as EUR/JPY gaps higher”EUR/JPY has surpassed both the 2024 high and the September peak, opening with a significant upward gap. This underscores a strong resurgence in upward momentum. Should a brief pullback occur, the gap area around 175.00/174.70 is expected to offer initial short-term support.” “If the pair maintains above this zone, the uptrend is likely to continue. The next…
The euro is quickly knocked down on the headlines here, with EUR/USD falling by 0.6% now to 1.1665 on the day. EUR/GBP has also dropped by 0.3% to 0.8680 as French political woes are weighing on the currency. At the same time, French stocks have deepened losses as well with the CAC 40 index now down 1.7% on the day.Newly appointed French prime minister Lecornu was immediately under pressure on the weekend as he struggled to get his fiscal affairs in order. There were concerns about having to get backing on the budget in order to address the growing deficit…
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After slipping from 2.0300, EUR/NZD looks ready to retest key inflection points that could set the stage for another leg higher in its longer-term uptrend. Here’s what we’re seeing on the daily time frame! EUR/NZD Daily Forex Chart by TradingView The euro took a few punches last week as mixed data and rising Russia-Ukraine tensions overshadowed hawkish signals from the ECB. Meanwhile, the New Zealand dollar benefited from higher gold prices, improved risk sentiment, and possibly a recovery from its oversold conditions ahead of RBNZ’s decision this week. Remember that directional biases and volatility conditions in market price are typically…
Thai inflation negative for six straight months as full year forecast lowers Source link
WTI crude oil fell through support around the $62 per barrel mark and now seems ready to retest this area of interest. Will it hold as resistance? WTI Crude Oil (USOIL) 4-hour Chart by TradingView Resurfacing oversupply concerns, this time driven by the OPEC+ rumored production increase and resumed Iraqi Kurdistan crude flows to Turkey, dragged WTI crude oil below a strong support zone early last week. However, geopolitical tensions in Russia kept losses in check, as investors continued to worry what escalating conflict could mean for oil production. Can the energy commodity go for a higher bounce? Remember that…
After the government shutdown sent the dollar spiraling, markets are gearing up for a data-heavy stretch that could reshape the FX space. Source link
The NZD/USD pair trades on a positive note around 0.5825 during the early Asian session on Monday. The fears of a prolonged US government shutdown continue to drag the US Dollar (USD) lower against the New Zealand Dollar (NZD). Traders await the release of FOMC Minutes later on Wednesday for fresh impetus. The US government shutdown entered its fifth day as US Senators failed to pass spending proposals to reopen the federal government. Later on Sunday, US President Donald Trump said that his administration would begin laying off federal workers. “It’s taking place right now,” Trump said. “If the shutdown lasts for…
China has been using a covert financial system to pay Iran for oil, circumventing U.S. sanctions and strengthening economic ties between the two countries, according to Western officials.The mechanism, described as a barter-style conduit, allows Iran to ship crude oil to China—its largest buyer—while Chinese state-owned firms carry out infrastructure projects in Iran as payment. Officials say the system relies on Sinosure, China’s state export-credit insurer, and a little-known financial entity called Chuxin, which operates outside the formal banking network.By avoiding the international payment system, the channel has become a financial lifeline for Tehran, helping fund major projects despite U.S.…