The NZDUSD Remains Volatile As It Nears A Key Support Area
The NZDUSD Remains Volatile As It Nears A Key Support Area FPG November 14, NZDUSD W1 The NZDUSD remains volatile as it nears a key support area at S1 (0.58501). On this broader timeframe, the pair continues to fluctuate within the R1 and S1 range, with its last breakout beyond this range occurring in early […]
The Euro’s Decline and Potential to Reach Parity with the Dollar
The Euro’s Decline and Potential to Reach Parity with the Dollar The euro recently hit a one-year low at around $1.06, dropping nearly 5% since September, raising the prospect it could approach parity with the U.S. dollar. This decline coincides with Donald Trump’s 2024 election win, which has spurred concerns of new tariffs potentially impacting […]
DE40 Index Trend Reversal Possibilities
DE40 Index Trend Reversal Possibilities FPG November 13, DE40 H4 Upon examining the DE40 Index on the H4 timeframe, it becomes apparent that the price has been consolidating within a horizontal channel, ranging between support level S1 (19003.67) and resistance level R1 (19555.89) for over a week. The current price remains close to S1. Reviewing […]
Oil Prices Hover Near Two-Week Low Following Opec’s Demand Forecast Reduction
Oil Prices Hover Near Two-Week Low Following Opec’s Demand Forecast Reduction Oil prices hovered near a two-week low on Tuesday after a 5% decline over the past two sessions, as investors processed OPEC’s recent downgrade in demand forecasts, a stronger U.S. dollar, and a lukewarm response to China’s latest economic stimulus measures. Brent crude edged […]
USDCAD is again trying to break through the resistance point in the last two years.
USDCAD is again trying to break through the resistance point in the last two years. FPG November 12, USDCAD D1 In the D1 timeframe analysis of the USDCAD currency pair, we observe a clear resistance level (R1) positioned at 1.39562, accompanied by a horizontal support level (S1) at 1.34168. Additionally, a diagonal support line (DS1) […]
Gold prices dropped over 2% on Monday
Gold prices dropped over 2% on Monday On Friday (11/8), the S&P 500 Index briefly exceeded the 6,000 level and closed with its largest weekly percentage gain in a year, as Donald Trump’s election victory and the possibility of a Republican victory in the US Congress fueled expectations for favorable business policies. Also supporting […]
Donald Trump’s victory in the US presidential election brought euphoria to Wall Street
Donald Trump’s victory in the US presidential election brought euphoria to Wall Street On Friday (11/8), the S&P 500 Index briefly exceeded the 6,000 level and closed with its largest weekly percentage gain in a year, as Donald Trump’s election victory and the possibility of a Republican victory in the US Congress fueled expectations […]
FPG November 11 Gold Market Alert
FPG November 11 Gold Market Alert Gold prices fell to around $2,670 an ounce as markets focused on US inflation data and the Federal Reserve’s speech – XAUUSD H4 On Monday, gold prices extended last week’s losses, falling to around $2,670 an ounce. Markets will be closely watching upcoming US inflation data and a series […]
FPG U.S. Stock Market Report November 8, 2024.
FPG U.S. Stock Market Report November 8, 2024. U.S. stock futures were less volatile, and the Fed’s interest rate cut was in line with market expectations U.S. stock futures were largely unchanged on Friday as investors digested the Federal Reserve’s latest 25 basis point rate cut decision. The Fed’s rate cut was in line with […]
Fed Rate Cut: Eases Borrowing Costs, Stocks Rally
Fed Rate Cut: Eases Borrowing Costs, Stocks Rally The U.S. Federal Reserve reduced interest rates by a quarter-point in a widely expected move, aimed at lowering borrowing costs for businesses and consumers. This marks a less aggressive step compared to its previous 50-basis-point cut. Unanimously backed by the 12 Fed voters, this decision arrives during […]
FPG November 7 Gold Market Alert
FPG November 7 Gold Market Alert Gold fell below $2,670 an ounce as Trump’s victory pushed the dollar higher and weakened safe-haven demand – XAUUSD H4 Gold fell below $2,670 an ounce on Wednesday, retreating from a high of $2,758 set on October 30. Trump’s victory in the presidential election and the strengthening of the […]
U.S. Oil Inventories Rise: Imports and Refinery Output Boost Stocks
U.S. Oil Inventories Rise: Imports and Refinery Output Boost Stocks U.S. crude oil inventories saw an increase last week as imports grew and refineries ramped up their capacity, according to the Energy Information Administration’s (EIA) data released Wednesday. Commercial crude oil stocks, excluding the Strategic Petroleum Reserve (SPR), rose by 2.1 million barrels to 427.7 […]
FPG U.S. Stock Market Report November 6
FPG U.S. Stock Market Report November 6 U.S. stock futures edged higher, with early election results and the Fed’s policy decision attracting attention U.S. stock futures edged higher on Wednesday as preliminary results of the U.S. presidential election began to emerge after polling stations were closed in several states. Former President Trump currently leads the […]
Singapore Dollar Drops: Trump Leads in U.S. Election
Singapore Dollar Drops: Trump Leads in U.S. Election The Singapore dollar experienced a sharp decline against the U.S. dollar in Asian trading hours on news of Donald Trump’s early lead in the U.S. presidential race. Maybank analysts pointed to the pivotal role of seven swing states, particularly Pennsylvania, which carries the highest number of electoral […]
FPG November 5th Gold Market Alert
FPG November 5th Gold Market Alert Gold prices held steady at $2,740 an ounce with an eye on the Fed decision and the US election – XAUUSD H4 Gold prices held steady near $2,740 an ounce on Monday, after two consecutive days of declines. Supported by a weaker US dollar, markets are gearing up for […]
Nasdaq Futures Rise: Key Election and Fed Decision Loom
Nasdaq Futures Rise: Key Election and Fed Decision Loom Futures tied to the Nasdaq Composite edged higher early Monday, setting a positive tone for a critical week ahead. On Friday, the Nasdaq gained 0.8% despite a mixed earnings season, with major tech companies showing both revenue growth and some caution about future prospects. Investors are […]
FPG November 4th Gold Market Alert
FPG November 4th Gold Market Alert Gold held at $2,736 an ounce due to Fed policy and political uncertainty – XAUUSD H4 Gold prices held steady at $2,750 an ounce on Friday, maintaining a nearly 1.5% pullback from the previous session. Markets continue to assess safe-haven demand as the U.S. election approaches and focus on […]
Gold Holds Steady: Investors Await U.S. Election and Fed Decision
Gold Holds Steady: Investors Await U.S. Election and Fed Decision Gold prices remained stable on Monday as investors braced for a significant week marked by the upcoming U.S. presidential election and potential moves by the Federal Reserve to lower interest rates further. Spot gold edged up 0.1% to $2,738.32 per ounce as of early trading, […]
FPG U.S. Stock Market Report November 1, 2024
FPG U.S. Stock Market Report November 1, 2024 U.S. stock futures rose as strong earnings reports from technology companies boosted market confidence U.S. stock futures rose on Friday, driven by strong earnings reports from major technology companies. In after-hours trading, Amazon rose nearly 6% on strong growth in cloud computing and advertising, beating market expectations […]
Fed’s Inflation Measure Nears Target: Economy Remains Resilient
Fed’s Inflation Measure Nears Target: Economy Remains Resilient The Federal Reserve’s favored inflation gauge, the personal-consumption-expenditures (PCE) price index, dropped to 2.1% in September, indicating inflation is nearing the central bank’s 2% goal. Monthly price increases moderated, with a rise of just under 0.2% from August, marking a significant cooldown compared to the rapid increases […]
FPG October 31 Gold Market Alert
FPG October 31 Gold Market Alert Gold held above $2,780 as safe-haven demand supported a record level – XAUUSD H4 Gold prices remained above $2,780 an ounce on Thursday and continued to hover at record levels, driven by safe-haven demand from U.S. election uncertainty and geopolitical risks. The market is assessing the latest US economic […]
U.S. Crude Stocks Decline as Imports Drop and Demand Rises
U.S. Crude Stocks Decline as Imports Drop and Demand Rises U.S. crude oil inventories saw a decline last week as imports fell and production held steady, according to the latest data from the U.S. Energy Information Administration (EIA). Commercial crude stocks, excluding the Strategic Petroleum Reserve (SPR), dropped by 515,000 barrels to 425.5 million barrels […]
FPG United States Stock Market Report October 30, 2024
FPG United States Stock Market Report October 30, 2024 U.S. stock futures rose, buoyed by strong earnings reports from major technology companies. U.S. stock futures moved higher on Wednesday as several tech giants reported positive earnings. In after-hours trading, Alphabet rose nearly 6% on its cloud computing division’s outperforming quarterly revenue growth, while Snap and […]
Bitcoin Soars Above $71K: Anticipation Builds for U.S. Election
Bitcoin Soars Above $71K: Anticipation Builds for U.S. Election Bitcoin surged above $71,000 early Tuesday, marking its highest level since June, as crypto markets prepare for the high-stakes U.S. presidential election on November 5. The race between former President Donald Trump and Democratic contender Kamala Harris has heightened interest in Bitcoin, with many traders betting […]
FPG October 29 Gold Market Alert
FPG October 29 Gold Market Alert Gold edged lower near $2,730 as safe-haven demand weakened – XAUUSD H4 Gold prices slipped to around $2,730 an ounce on Monday, as safe-haven demand was dampened by Israel’s restrained airstrikes on Iran over the weekend. The relatively modest situation in which the Israel Air Force attacked Iran’s military […]
Australian Confidence Up: Jobs and Rate Cut Hopes Lift Mood
Australian Confidence Up: Jobs and Rate Cut Hopes Lift Mood Australian consumer confidence dipped last week by 1.1%, although it has remained comparatively higher over the past month due to a stable job market, tax cuts, and financial aid aimed at offsetting energy costs. This stability has anchored inflation expectations and brought a measure of […]
FPG United States Stock Market Report October 28, 2024
FPG United States Stock Market Report October 28, 2024 U.S. stock futures rose, and tech giants’ earnings reports and economic data attracted much attention U.S. stock futures rose on Monday as investors focused on the busiest week of the third-quarter earnings season, with big tech companies including Apple, Microsoft, Meta Platforms, Amazon and Alphabet set […]
Yuan Drops to Two-Month Low: US Tariff Fears Grow
Yuan Drops to Two-Month Low: US Tariff Fears Grow China’s yuan fell to its lowest level in over two months against the dollar on Monday, weakened by the strength of the U.S. economy and increasing speculation that Donald Trump could win a second presidential term. The yuan has already lost about 1.6% against the dollar […]
Gold technical rebound above $2,730 – XAUUSD H4
Gold technical rebound above $2,730 – XAUUSD H4 Gold prices recovered above $2,730 an ounce on Thursday in a technical rebound, after falling more than 1% the day on a stronger dollar and rising Treasury yields. The retreat in gold prices reflects the strength of the US dollar and the rise in Treasury yields as […]
Yen Steadies Ahead of Election: Inflation and Market Pressures Loom
Yen Steadies Ahead of Election: Inflation and Market Pressures Loom The Japanese yen held steady around 152 per dollar on Friday as investors braced for the country’s general election this weekend. The election outcome could lead to the coalition government losing its majority, raising political uncertainty. Such a scenario may further complicate the Bank of […]
Nasdaq-100 futures rebounded, and Tesla shares soared
Nasdaq-100 futures rebounded, and Tesla shares soared Nasdaq 100 futures rebounded on Thursday, buoyed by a 12% jump in Tesla’s stock price in after-hours trading. Tesla reported better-than-expected third-quarter profits and boosted overall earnings significantly as $739 million in auto regulatory credit income boosted its overall profitability. Meanwhile, S&P 500 futures edged higher, while Dow […]
ECB Signals Further Cuts: Economic Outlook Weakens
ECB Signals Further Cuts: Economic Outlook Weakens The European Central Bank (ECB) may need to lower its key interest rate to a level that stimulates the economy, according to Bank of Italy Governor Fabio Panetta. Speaking on Wednesday, Panetta highlighted concerns that the ECB’s current rate, though cut twice recently, still remains restrictive in the […]
AUDUSD – 23 Oct 2024
AUDUSD – 23 Oct 2024 On the weekly timeframe, AUDUSD continues to move in a bearish trend since the trend reversal occurred three weeks ago. The pair has not shown any signs of strengthening and continues to decline, approaching the kumo cloud and is now at the price position of 0.66752. The Stochastic indicator is […]
Australian Dollar Steady: U.S. Yields and Job Growth Influence Market
Australian Dollar Steady: U.S. Yields and Job Growth Influence Market The Australian dollar held steady around $0.668 on Wednesday but remained near its lowest level in six weeks. The currency was pressured by a stronger U.S. dollar and rising Treasury yields, which were fueled by robust economic data and concerns over the U.S. deficit. Despite […]
XAUUSD – 22 Oct 2024
XAUUSD – 22 Oct 2024 On the daily timeframe, XAUUSD (gold) looks to be in a strong bullish trend. Gold prices have been steadily strengthening since the beginning of the month and managed to reach 2731.93. Although market volatility briefly triggered a trend reversal, the dominant bullish trend continues to direct prices upwards. However, it […]
Gold Surges to Record Highs: Conflict and Economic Uncertainty Boost Demand
Gold Surges to Record Highs: Conflict and Economic Uncertainty Boost Demand Gold prices rose to around $2,730 per ounce on Tuesday, reaching record levels as its status as a safe-haven asset continued to attract investors. Ongoing geopolitical tensions in the Middle East, particularly the recent Israeli strikes on Hezbollah-linked financial sites in Beirut, have heightened […]
USDJPY – 21 Oct 2024
USDJPY – 21 Oct 2024 On the daily timeframe, USDJPY is currently in a bearish trend after experiencing a trend reversal in the previous session. The pair has shown significant gains since the beginning of the month, successfully entering the kumo cloud and reaching a price position of 149.225. Despite the market volatility that caused […]
Dollar-Yen Surges Past ¥150: BOJ’s Rate Hold Fuels Yen Weakness
Dollar-Yen Surges Past ¥150: BOJ’s Rate Hold Fuels Yen Weakness The dollar-yen pair surged back above ¥150 for the first time since August, as forex markets reacted to expectations that the Bank of Japan (BOJ) will hold interest rates steady. The dollar has gained more than 5% against the yen over the past month, with […]
USDSGD – 18 Oct 2024
USDSGD – 18 Oct 2024 On the daily timeframe, USDSGD showed a strong bullish trend since experiencing a trend reversal at the end of last month and managed to rise to the price position of 1.31425 and then entered the kumo cloud. The rising stochastic indicator also supports the dominant bullish momentum. However, the stochastic […]
Singapore Dollar Holds Steady: Potential USD Gains Loom
Singapore Dollar Holds Steady: Potential USD Gains Loom The Singapore dollar traded steadily against the U.S. dollar during the Asian session, as traders possibly adjusted their positions ahead of the weekend. Analysts are watching closely for potential shifts in market sentiment, particularly with the U.S. dollar remaining firm amid global economic uncertainties. In its FX […]
AUDNZD – 16 Oct 2024
AUDNZD – 16 Oct 2024 On the daily timeframe, AUDNZD looks to be in a bearish trend after experiencing a trend reversal last week. Although it is still above the kumo cloud and there is a bull candle on the chart, bearish pressure is still quite dominant. This is also reinforced by the stochastic chart […]
New Zealand Inflation Returns to Target: More Rate Cuts Expected
New Zealand Inflation Returns to Target: More Rate Cuts Expected New Zealand’s inflation rate has fallen back into the Reserve Bank of New Zealand’s (RBNZ) target band for the first time since early 2021. In the third quarter, inflation reached an annual rate of 2.2%, comfortably within the 1%-3% range, opening the door for more […]
Nikkei Hits Three-Month High: Weaker Yen Lifts Stocks
Nikkei Hits Three-Month High: Weaker Yen Lifts Stocks Japan’s Nikkei share average surged on Tuesday, climbing to a three-month high above the 40,000 mark, fueled by strong performance on Wall Street and a weaker yen. By the midday break, the Nikkei had gained 1.6% to reach 40,232.45, marking the first time it surpassed the 40,000 […]
AUDUSD – 27 Sep 2024
AUDUSD – 27 Sep 2024 On the H1 timeframe, AUD/USD looks to be in a bearish trend after experiencing a trend reversal earlier today. Despite being under bearish pressure, the pair is still holding above the kumo cloud with the current price at 0.68684. The stochastic indicator is showing a decline and has reached the […]
China Cuts Key Rate: PBOC Rolls Out Stimulus to Boost Ailing Economy
China Cuts Key Rate: PBOC Rolls Out Stimulus to Boost Ailing Economy China’s central bank has taken bold steps to bolster its slowing economy, cutting a key policy rate and lowering the reserve requirement ratio (RRR) for banks. These measures follow a week of mounting economic concerns and align with earlier promises from People’s Bank […]
USDCAD – 26 Sep 2024
USDCAD – 26 Sep 2024 On the H1 timeframe, USDCAD is seen trying to initiate bullishness and break out of bearish pressure and the kumo cloud. After declining for the past two days, the pair is now slowly showing strength, managing to reach a price position of 1.34711. Although volatility is still high, the stochastic […]
Gold Extends Record Run: Middle East Tensions and Rate Cuts Fuel Surge
Gold Extends Record Run: Middle East Tensions and Rate Cuts Fuel Surge Gold prices hit a record high on Wednesday, continuing their upward momentum as traders responded to last week’s Federal Reserve interest rate cut. Early trading saw the precious metal reach $2,670 per ounce, driven by fears of rising Middle East tensions and the […]
USDJPY – 25 Sep 2024
USDJPY – 25 Sep 2024 On the daily timeframe, USDJPY has not been able to regain strength and get above the kumo after starting a downward trend since early July. The pair dropped from a price position of 161.667 to currently sit at 143.261, influenced by the bearish pressure that continues to dominate. Looking at […]
China Cuts Key Rate: Boosting Liquidity Amid Growth Concerns
China Cuts Key Rate: Boosting Liquidity Amid Growth Concerns China’s central bank implemented a highly-anticipated rate cut on Wednesday, reducing the borrowing cost of its 1-year medium-term lending facility from 2.3% to 2.0%. This move comes just a day after announcing a series of monetary easing measures aimed at stimulating lending and addressing fears that […]
EURUSD – 24 Sep 2024
EURUSD – 24 Sep 2024 On the weekly timeframe, EURUSD is seen slightly above the kumo cloud after a period of volatility that saw the pair moving sideways inside the kumo. The pair was bullish for a while before finally experiencing bearish pressure again which brought it to the price position of 1.11132. The stochastic […]
Gold Shines Amid Rate Cuts: Opportunity Cost Drives Surge
Gold Shines Amid Rate Cuts: Opportunity Cost Drives Surge Gold prices are on an impressive tear, hitting a fresh all-time high of $2,630 per ounce early Monday. The surge follows the U.S. Federal Reserve’s bold move to cut interest rates by 50 basis points, surpassing market expectations of a smaller 25-point reduction. This significant rate […]
GBPUSD – 23 Sep 2024
GBPUSD – 23 Sep 2024 On the daily timeframe, GBPUSD is still showing strong bullish momentum since last August. The pair has risen from the price position of 1.26901 to successfully reach the position of 1.33154. Although there was a decline in the previous few sessions, the dominant bullish pressure is still able to maintain […]
Singapore Dollar Steady: Regional Gains and Risk-On Sentiment Support
Singapore Dollar Steady: Regional Gains and Risk-On Sentiment Support The Singapore dollar traded steadily against the U.S. dollar during the Asian session, buoyed by risk-on sentiment fueled by gains across most regional equity markets. The local currency maintained its position as market optimism increased, keeping the USD/SGD pair relatively stable at 1.2911. Analysts from CBA […]
USDSGD – 20 Sep 2024
USDSGD – 20 Sep 2024 On the daily timeframe, USDSGD has continued to decline significantly since starting a bearish trend in June. The pair has not been able to reverse the trend to bullish, so the price continues to fall until it is at 1.28996, well below the kumo cloud. The stochastic chart moving below […]
China Holds Rates Steady: Resists Pressure After Fed’s Rate Cut
China Holds Rates Steady: Resists Pressure After Fed’s Rate Cut China’s central bank, the People’s Bank of China, kept its benchmark lending rates unchanged on Friday, resisting growing market expectations for a cut. The one-year loan prime rate remained at 3.35%, while the five-year rate stayed at 3.85%, signaling a cautious approach amid global monetary […]
XAUUSD – 19 Sep 2024
XAUUSD – 19 Sep 2024 On the daily timeframe, XAUUSD is seen continuing to move above the kumo cloud after successfully breaking through resistance line 1 in August. Although the pair failed to break resistance line 2, its position still above the kumo indicates that the bullish momentum remains quite strong. However, it is worth […]
Fed Cuts Rates by 50 bps: Global Markets React
Fed Cuts Rates by 50 bps: Global Markets React The US Federal Reserve made a bold move by cutting interest rates by 50 basis points, exceeding Wall Street’s expectations. This marks the first rate reduction in four years, bringing the benchmark rate down to 5% from its 23-year high of 5.5%. The decision surpassed predictions […]
USDCAD – 18 Sep 2024
USDCAD – 18 Sep 2024 On the daily timeframe, USDCAD is seen still well below the kumo after experiencing a significant drop, reaching a price of 1.34429 back in August. However, the pair is now showing good signs of bullish momentum, with the chart slowly moving up towards the kumo cloud. Although volatility is still […]
Canada’s Inflation Eases: CPI Hits Three-Year Low
Canada’s Inflation Eases: CPI Hits Three-Year Low Canada’s annual inflation rate returned to the central bank’s target, easing to a new three-year low in August. The country’s consumer price index (CPI) climbed 2.0% year-over-year, down from 2.5% in July, according to data released by Statistics Canada on Tuesday. Economists had expected a slight increase of […]
USDSEK – 17 Sep 2024
USDSEK – 17 Sep 2024 On the daily timeframe, USDSEK is seen still moving between support lines 1 and 2, without managing to break through the kumo cloud to strengthen. Despite experiencing a long bullish trend, the pair has yet to show significant strength. After several bullish sessions, the pair is now trying to initiate […]
New Zealand Dollar Slips: Economic Concerns and Fed Outlook Weigh In
New Zealand Dollar Slips: Economic Concerns and Fed Outlook Weigh In The New Zealand dollar fell to around $0.619 after gaining 0.7% in the previous session, pressured by concerns over economic weakness in China, which is New Zealand’s largest trading partner. The slowdown in China has raised fears of decreased demand for New Zealand’s exports, […]
USDJPY – 16 Sep 2024
USDJPY – 16 Sep 2024 On the weekly timeframe, USDJPY has been in a sharp bearish trend since last June. The pair experienced a significant decline from a price position of 160.803 to hit a price of 140.083 last week. Currently, the pair is below the kumo cloud, and is not showing any clear signs […]
Yen Rises Amid Policy Divergence: BOJ and Fed in Focus
Yen Rises Amid Policy Divergence: BOJ and Fed in Focus The Japanese yen strengthened to around 140.5 against the US dollar in light trading on Monday, nearing its highest level since July 2023. The currency’s rise comes amid growing expectations of a widening monetary policy gap between Japan and the US. The Bank of Japan […]
USDSGD – 13 Sep 2024
USDSGD – 13 Sep 2024 On the weekly timeframe, USDSGD is seen in a long bearish trend, which started in June. The pair has not been able to rally back, and the consistent decline has brought it below the kumo cloud with a price position of 1.29891. Although the stochastic indicator shows that the pair […]
Bitcoin Set to End Losing Streak: CPI Data Sparks Modest Momentum
Bitcoin Set to End Losing Streak: CPI Data Sparks Modest Momentum Bitcoin prices BTCUSD surged above $58,000 per coin on Thursday, following a boost from favorable U.S. inflation data. The consumer price index (CPI), released Wednesday, revealed that inflation had slowed to 2.5% in August, slightly under the expected 2.6%. This marks the lowest inflation […]
XAUUSD – 12 Sep 2024
XAUUSD – 12 Sep 2024 On the weekly timeframe, XAUUSD continues to show a strengthening trend that started early this year. Gold prices have risen from 2013.52 in January to reach 2516.12 earlier this week. Despite several trend reversals, strong bullish momentum continues to dominate, taking gold prices well above the kumo cloud, indicating the […]
U.S. Oil and Fuel Stocks Rise: Lower Demand Signals Market Shift
U.S. Oil and Fuel Stocks Rise: Lower Demand Signals Market Shift U.S. crude oil inventories rose for the first time in four weeks, driven by lower demand, according to the U.S. Energy Information Administration (EIA). Commercial crude stocks, excluding the Strategic Petroleum Reserve, increased by 833,000 barrels to 419.1 million barrels for the week ending […]
NZDUSD – 11 Sep 2024
NZDUSD – 11 Sep 2024 On the daily timeframe, NZDUSD has been in a bearish trend since late last month. Despite several attempts to rally, the dominant bearish pressure has the pair now at 0.61406. The Stochastic indicator which has remained at 20 since last month indicates that the bearish pressure is still very strong, […]
Gold Holds Steady: Markets Await US Inflation Data and Fed Rate Clues
Gold Holds Steady: Markets Await US Inflation Data and Fed Rate Clues Gold prices remained stable near $2,520 per ounce on Wednesday as investors turned their focus to the upcoming US inflation report. The data is expected to provide crucial insights into the Federal Reserve’s potential interest rate cut at its upcoming meeting. Market sentiment […]
USDCNH – 10 Sep 2024
USDCNH – 10 Sep 2024 On the weekly timeframe, USDCNH is seen trying to break out of the kumo cloud by initiating a bullish trend since last week. Previously, the pair experienced a bearish trend after failing to break the resistance line, which brought the price down into the kumo, reaching a price position of […]
GBPUSD Erases Gains: US Jobs Data Spurs Dollar Rally
GBPUSD Erases Gains: US Jobs Data Spurs Dollar Rally The GBPUSD pair erased over 1% in gains on Friday after a sharp rally in the US dollar, triggered by the latest US jobs report. The UK currency initially rose to a session high of $1.3230, nearing its 2024 peak, before falling. This reversal followed the […]
GBPAUD – 9 Sep 2024
GBPAUD – 9 Sep 2024 On the daily timeframe, GBPAUD experienced a trend reversal after failing to continue strengthening after breaking the resistance line. The pair was in a bullish trend that led it to touch the price position of 1.96895 before finally bouncing down and experiencing a bullish trend again. Although the pair is […]
Offshore Yuan Weakens: Mixed Chinese Inflation Data Fuels Concerns
Offshore Yuan Weakens: Mixed Chinese Inflation Data Fuels Concerns The offshore yuan weakened toward 7.11 per dollar as markets reacted to the latest inflation data from China. Annual consumer prices increased to a six-month high of 0.6% in August 2024, up from 0.5% in July, though the figure missed expectations of a 0.7% rise. This […]
EURCHF – 6 Sep 2024
EURCHF – 6 Sep 2024 On the daily timeframe, EURCHF has not managed to continue strengthening and is still under the kumo cloud. After experiencing a bearish trend for the past two months, the pair has not been able to show any significant bullish movement. Despite experiencing a long bullish phase, the pair eventually experienced […]
Yen Strengthens Against Dollar: BOJ Expected to Raise Rates
Yen Strengthens Against Dollar: BOJ Expected to Raise Rates The Japanese yen strengthened to 143 per dollar, marking a one-month high as expectations grew for the Bank of Japan (BOJ) to raise interest rates further. This follows sustained inflationary pressures and a notable rise in wages, with real wages in Japan increasing for the second […]
USDJPY – 5 Sep 2024
USDJPY – 5 Sep 2024 On the weekly timeframe, USDJPY is in a bearish trend after failing to break the R2 resistance two months ago. Currently, the pair is at a price position of 143.534, after a decline that took it inside the kumo cloud. Despite a few bullish signals, bearish pressure is still dominant, […]
RBA Defends High Rates: No Near-Term Cuts
RBA Defends High Rates: No Near-Term Cuts Governor Michele Bullock of the Reserve Bank of Australia (RBA) defended the central bank’s stance on maintaining high interest rates in a speech on Thursday, emphasizing that rate cuts are not in the near-term outlook. Bullock addressed money market and banking sector participants, reiterating that core inflation remains […]
GBPUSD – 4 Sep 2024
GBPUSD – 4 Sep 2024 On the weekly timeframe, GBPUSD experienced a trend reversal after touching the resistance line last month. Although the pair is still well above the kumo cloud, the decline seen on the stochastic indicator could be a signal that the bearish trend might continue. Currently, the pair is at 1.31137 after […]
Gold Holds Steady: Jobs Data Could Influence Future Gains
Gold Holds Steady: Jobs Data Could Influence Future Gains Gold prices remained subdued on Tuesday, trading between $2,490 and $2,500 per ounce as investors awaited key economic data set for release on Friday. This marks the third consecutive day of losses for gold, following declines last Friday and Monday. The precious metal has slipped about […]
EURUSD – 3 Sep 2024
EURUSD – 3 Sep 2024 On the weekly timeframe, EURUSD is still stuck in the range between R1 and R2 for the past few months. Although the pair is above the kumo cloud, there has been no significant price movement. After experiencing bullish trends in the last two weeks, EURUSD experienced a trend reversal and […]
Bitcoin Steady in September: Volatility Expected Ahead
Bitcoin Steady in September: Volatility Expected Ahead As summer trading wrapped up, the cryptocurrency market might be in for a bumpy ride, with Bitcoin entering September steady but poised for action. The digital asset started the month at around $58,000, maintaining a calm demeanor as traders anticipate a surge in market activity. The thin trading […]
AUDUSD – 2 Sep 2024
AUDUSD – 2 Sep 2024 On the daily timeframe, AUDUSD is seen bouncing down after failing to break the resistance line at the end of last week. The pair is now in a bearish trend, with the stochastic chart declining from 80 levels towards 20 levels, suggesting that the downtrend is likely to continue. Although […]
Australia’s Manufacturing Slump Slows : Inflation Worries Persist
Australia’s Manufacturing Slump Slows : Inflation Worries Persist Australia’s manufacturing sector showed signs of a slower contraction in August, as the Judo Bank Australia Manufacturing PMI rose to 48.5 from 47.5 in July. Despite this improvement, the sector has remained in contraction for the seventh consecutive month, with the reading still below the crucial 50-point […]
EURCNH – 30 Aug 2024
EURCNH – 30 Aug 2024 On the daily timeframe, EURCNH experienced a significant drop from 7.94627 to reach the price position of 7.83936. The pair is now below the kumo cloud, indicating dominant bearish pressure. The stochastic indicator also indicates a drop towards the 20 level, signaling that the bearish pressure is still very strong […]
German Inflation Drops Below ECB Target: Rate Cut Prospects Rise
German Inflation Drops Below ECB Target: Rate Cut Prospects Rise German inflation dropped more than expected in August, falling below the European Central Bank’s (ECB) target, which significantly increases the likelihood of a key interest rate cut at the ECB’s upcoming September meeting. According to the German statistics office Destatis, consumer prices rose by 1.9% […]
ETHUSD – 29 Aug 2024
ETHUSD – 29 Aug 2024 On the daily timeframe, ETHUSD is still far below the kumo cloud, continuing the bearish trend that started in July and caused a significant decline. Until now, there has been no momentum strong enough to lift the price of this crypto back above the kumo, so ETHUSD is only able […]
Crypto Market Retreats: Bitcoin Down 9% in August
Crypto Market Retreats: Bitcoin Down 9% in August Bitcoin prices took a sharp turn downward, dipping below $60,000 late Tuesday after reaching a session high of $63,000. The sudden drop, which extended into early Wednesday trading, was likely due to profit-taking following the recent surge in optimism sparked by Federal Reserve Chair Jay Powell’s comments […]
USDCAD – 28 Aug 2024
USDCAD – 28 Aug 2024 On the weekly timeframe, USDCAD is currently in a significant bearish trend, which has brought the pair down to the price position of 1.34491. Currently, the pair is slightly below the kumo cloud, with the stochastic chart below the 30 level, signaling a potential oversold saturation and a possible trend […]
Australian Inflation Eases: Rebates and Rents Drive July Decline
Australian Inflation Eases: Rebates and Rents Drive July Decline Australian inflation pressures eased in July, with government rebates helping to counteract rising electricity costs and rents. The monthly consumer price index (CPI) rose by 3.5% in the 12 months to July 2024, down from 3.8% in June, according to the Australian Bureau of Statistics. This […]
BTCUSD – 27 Aug 2024
BTCUSD – 27 Aug 2024 On the daily timeframe, BTCUSD is seen experiencing a trend reversal after attempting to rally and break out of the kumo cloud. Currently, the crypto is in a bearish trend after experiencing gains in the past few sessions, which brought it to its current price position of 62,886.26. Further indications […]
China’s Industrial Profits: July Marks Fourth Month of Growth
China’s Industrial Profits: July Marks Fourth Month of Growth China’s industrial profits continued to rise in July, marking the fourth consecutive month of growth, according to the National Bureau of Statistics. Profits increased by 4.1% year-on-year, showing an acceleration from the 3.6% growth recorded in June. This positive momentum is a sign of recovery in […]
PBOC Holds Rates Steady: Focus Shifts to Short-Term Guidance
PBOC Holds Rates Steady: Focus Shifts to Short-Term Guidance China’s central bank, the People’s Bank of China (PBOC), decided to keep its key policy rates unchanged, as expected, following a series of rate cuts last month. In its latest monetary policy operation, the PBOC injected 300 billion yuan (approximately $42 billion) into the financial system […]
USOUSD – 26 Aug 2024
USOUSD – 26 Aug 2024 On the daily timeframe, USOUSD shows strong potential in continuing the bullish trend after successfully reversing the direction of the trend that had experienced bearish pressure when it touched the support line last week. The commodity continues to move up gradually and currently sits at 74,985, indicating that the upward […]
EURNZD – 23 Aug 2024
EURNZD – 23 Aug 2024 On the weekly timeframe, EURNZD is showing a trend reversal pattern that started in the last week of last month, taking the pair into a bearish trend that still continues today. The pair is currently at a price position of 1.80794, with quite strong bearish pressure, indicating a potential for […]
Australian Dollar Steadies Above $0.67: Markets Eye Powell’s Speech
Australian Dollar Steadies Above $0.67: Markets Eye Powell’s Speech The Australian dollar held steady above $0.67 as the U.S. dollar softened ahead of Federal Reserve Chair Jerome Powell’s highly anticipated speech at the Jackson Hole symposium. This event, which gathers central bankers, economists, and policymakers from around the world, is expected to provide critical guidance […]
ERUCHF – 22 Aug 2024
ERUCHF – 22 Aug 2024 On the daily timeframe, EURCHF showed its inability to continue the bullish trend that has started since the trend reversal in the first week of this month. Having previously experienced significant gains from the price position of 0.92952 to reach a peak at 0.95742, the pair then reversed direction and […]
U.S. Crude Oil Inventories Drop Sharply: Refineries Boost Capacity
U.S. Crude Oil Inventories Drop Sharply: Refineries Boost Capacity U.S. crude oil inventories fell more than anticipated last week as refineries ramped up their capacity, according to data from the U.S. Energy Information Administration (EIA) released on Wednesday. Commercial crude oil stocks, excluding the Strategic Petroleum Reserve, decreased by 4.6 million barrels, bringing the total […]
UKOUSD – 21 Aug 2024
UKOUSD – 21 Aug 2024 On the weekly timeframe, UKOUSD shows that the commodity is still in a bearish trend since experiencing a trend reversal last June. The strong bearish momentum has brought the price down to below the kumo cloud. Although it tried to initiate bullishness, the effort was not strong enough to push […]
Canada Inflation Cools to 3-Year Low: CPI Rises 2.5% in July
Canada Inflation Cools to 3-Year Low: CPI Rises 2.5% in July Canada’s annual inflation rate cooled significantly in July, reaching its lowest level in over three years. According to Statistics Canada, the consumer price index (CPI) rose 2.5% year-over-year, matching market expectations and down from 2.7% in June. This marks the mildest inflation rate since […]
XAGUSD – 20 Aug 2024
XAGUSD – 20 Aug 2024 On the daily timeframe, XAGUSD showed significant gains before finally experiencing a trend reversal as it tried to enter the kumo cloud. Silver reached a price position of 29.432 before the trend reversed and started showing bearish signs. This reversal looks set to continue, especially as the stochastic indicator shows […]
