Author: FX

NZD/JPY extends downtrend, breaking below key support. Technical indicators suggest further downside potential. The overall picture sees the pair stuck in a side-ways trading channel. In Friday’s session, the NZD/JPY declined by 1.20% to 91.00, continuing its bearish momentum. This break below the crucial 91.00 support level and the convergence of the 20 and 100-day Simple Moving Averages (SMAs) further confirms the strength of the selling pressure. The analysis of technical indicators reveals a bearish outlook. The Relative Strength Index (RSI) has fallen into the negative territory and is declining sharply, indicating increasing selling pressure. The Moving Average Convergence Divergence…

Silver trades below 50-day SMA at $31.37; $30.84 support is key for preventing deeper pullback. Bearish momentum persists with RSI in seller’s territory, favoring near-term downside. A close above $31.50 needed for bullish recovery, targeting $31.75 and potentially $32.00. Silver retreated from two-day highs of $32.00 and tumbled below the 50-day Simple Moving Average (SMA) at $31.37 late in the North American session. This was weighed down by a strong US Dollar underpinned by former President Donald Trump’s victory. At the time of writing, the XAG/USD trades at $31.29, down 2.29%. XAG/USD Price Forecast: Technical outlook Silver’s price uptrend remains…

The USDCHF moved lower to start the trading week but found willing sellers near a key swing area between 0.86078 and 0.8619. The low held on Tuesday ahead of the election results. Those results sent the pair moving sharply higher. The run higher, extended back above the 100-day MA at 0.8667. It moved above the 38.2% of the move down from the May 2024 high at 0.86983 (more on that later), and did not stall until reaching near a swing level at 0.8776. The high price reached 0.8774 and stalled. The subsequent move lower yesterday and into today moved down…

MUFG anticipates a resumption of USD appreciation over the coming months, following a brief pullback post-election. President-elect Trump’s strong mandate and planned policies on trade tariffs, tax cuts, and increased fiscal spending are expected to support higher yields and drive USD strength, particularly over the next 3-6 months.Key Points:Trump Policy Impact: Trump’s policies—tariffs, immigration enforcement, and fiscal expansion—are expected to lift yields and support USD, as markets anticipate swift action.Market Positioning: The recent dip in USD reflects an election outcome that was already priced in, but MUFG sees room for renewed USD strength as markets position for policy implementation.Medium-Term USD…

Mexican Peso weakens on fears of Trump-imposed tariffs on Mexican imports. Banxico expected to cut rates by 25 bps as inflation approaches 3% target. Upcoming US and Mexico economic data, including consumer confidence and Banxico decision, may add to Peso’s volatility. The Mexican Peso is against the ropes versus the Greenback on Friday, with the latter recovering some ground even though the US Federal Reserve (Fed) cut rates on Thursday. Risk aversion sponsored by China’s lack of clarity on its program to stimulate the economy weighed on global equities, while traders continue to digest Trump’s victory for a third day.…

Gold declines as Trump’s win reduces political risk; focus on potential inflationary policies. US Dollar recovery pressures Bullion despite lower Treasury yields. Powell signals gradual rate adjustments, leaving Fed’s future path open amid economic strength. Gold prices had fallen on Friday as the Greenback stages a recovery despite falling US Treasury yields. Traders continued to digest Donald Trump’s victory in the US election, and they reduced their exposure on the so-called “Trump trade” due to uncertainty over tariffs. The XAU/USD trades at $2,688, down over 0.67%. US equities extended their gains, shrugging off election jitters, which were the main drivers…

US Dollar rises after UoM positive data. Consumer confidence improves, inflation expectations were mixed. FOMC cuts rates by 25 bps, economic growth remains solid. The US Dollar Index (DXY), which measures the value of the USD against a basket of six currencies, rose on Friday. This comes after positive University of Michigan data and the announcement that the Federal Open Market Committee (FOMC) lowered interest rates by 25 basis points on Thursday. The Fed expressed optimism about economic growth but acknowledged easing labor market conditions. Despite the rate reduction, DXY has rebounded and could continue its upward momentum if the…

AUD/USD falls as the USD regains strength. RBA holds rates steady but remains hawkish, citing inflation risks. The Fed’s neutral outlook suggests caution regarding future rate cuts. The AUD/USD pair declined by 1.25% to 0.6600 on Friday, continuing its downtrend. The renewed strength of the US Dollar weighs on the pair despite improved risk sentiment. However, the hawkish stance of the Reserve Bank of Australia (RBA) and expectations of additional Chinese stimulus could support the Aussie. The AUD/USD pair experienced volatility amid the recent US presidential election and RBA’s monetary policy stance. Trump’s election victory initially triggered a decline in…

The weekly Baker Hughes rig count remains unchanged across the board in the current week:Oil rig count 479 vs 479 last weekNat. Gas rig count 102 vs 102 last weekTotal rig count 585 vs 585 last week. This article was written by Greg Michalowski at www.forexlive.com. Source link

Bolt Projects Holdings GAAP EPS of $0.32, revenue of $0.01M Source link