Category: News
Despite the recent bounce from 1.2275, the GBP/USD exchange rate continues to trade in a neutral trend mode. The pair is expected to continue its advance but is vulnerable to lingering interest rate risks. The upcoming week offers a number of data points that will likely fuel the move. The Bank of England will publish…
USD/JPY Tests 130.00 as New BoJ Governor Rumors SwirlsUSD/JPY Tests 130.00 as New BoJ Governor Rumors SwirlIn the midst of a global economic slowdown and heightened inflation concerns, the Bank of Japan surprised markets by maintaining its ultra-low interest rates on Wednesday and defending a yield curve control policy that has jolted investors. The surprise…
The US Dollar Price Forecast: DXY Nestles Beneath Dynamic ResistanceThe US Dollar Price Forecast: DXY Nestles Beneath Dynamic ResistanceThe greenback is a major currency that plays a role in trade and finance. It is a popular asset for many investors and can influence the value of other currencies, particularly when the economy in the United…
UK FTSE 100 Clings to Support As German Dax Battles ResistanceUK FTSE 100 Clings to Support as German Dax Battles ResistanceAfter the Chinese government announced it was finally reopening its economy, risk sentiment has been lifted. The European market has rallied as well, with Germany’s DAX index breaking through its key resistance range to close…
Gold Update: XAU/USD Eyes US Economic Data For GuidanceGold prices have been on the rise in recent weeks as hopes of a slower rate hike from the Fed are giving the yellow metal further support. A weaker dollar and fears of a global recession also make gold more attractive to investors holding other currencies. Today,…
The Australian dollar is closely tied to the global economy and equity markets. It depreciates when global equity markets decline and appreciates when they rise. Commodities also play a role in its strength. When commodity prices increase, they can entice exporters to increase their output. If commodities remain low, they can also hurt Australian dollar…
The ECB’s primary aim is to keep price stability in the markets. That is why it is so critical to pay close attention to their monetary policies. If the ECB does not manage to maintain stable prices, you can expect that the EURUSD will be prone to further turmoil. Wave analysis strategy When traders are…
Having reached a five-month low earlier this week, the USD/CAD pair continues to climb back above the 50-day simple moving average. While the US Dollar’s support for risk appetite remains in place, the pair may struggle to hold above a key resistance level. A break below 1.3400 may trigger a bearish trend. However, a close…