Cardano price reaches a new high within the uptrend at $0.4125 . ADA shows a 1-2-1-2 pattern which could prompt a much larger rally. Invalidation of the bullish idea could occur from a breach below $0.36. Cardano price continues to display bullish … [Continue reading]
US: Despite the rebound, the breadth of services expansion has still slowed – Wells Fargo
The ISM Service PMI released on Friday showed the index rose back above 50, into expansion territory. Analysts at Wells Fargo, point out that after just a single month under 50, the services ISM shot back up into expansion. However, they warn the … [Continue reading]
US Dollar to weaken this year, with periods of volatility and bouts of strength – MUFG
The US Dollar Index (DXY) weakened further in January after a sharp sell-off in Q4 last year. Economists at MUFG Bank see a weaker USD but do not expect a linear straight-line weakening trend. Weaker USD as Fed hiking work nearly complete “The … [Continue reading]
Forex Today: US January jobs report to wrap up volatile week
Here is what you need to know on Friday, February 3: Following the highly volatile action witnessed on Wednesday and Thursday, markets seem to have turned cautious on the last trading day of the week. As investors await the January jobs report from … [Continue reading]
USD/JPY prints day low at 128.50 USD Index loses momentum, US NFP buzz
USD/JPY has dropped to near 128.50 as the USD Index is struggling to extend gains above 101.55. Subdued US corporate earnings have strengthened the risk-off market mood. US Secretary of State Antony Blinken to meet with Chinese President Xi Jinping … [Continue reading]
Gold Price Forecast: XAU/USD stares $1,900 as Fed rate pause rumors might offset post-US NFP
Gold price is eyeing more weakness to near $1,900.00 after an inventory distribution breakdown. Higher US labor cost data could shrug off Fed’s policy tightening pause rumors ahead. S&P500 has displayed a three-day winning streak despite further … [Continue reading]
SNB Jordan: Can’t exclude more interest-rate increases, ready to be active in FX markets
Swiss National Bank Chairman Thomas Jordan is crossing the wires and has stated the following: Key comments Price stability does not happen automatically. We are seeing no wage-price spiral in Switzerland. Inflationary pressure … [Continue reading]
GBP/JPY bounces off two-week low, remains heavily offered around 158.00 mark
GBP/JPY continues losing ground for the third straight day and drops to a two-week low. Expectations for a hawkish shift by the BoJ underpin the JPY and exert some pressure. The BoE’s dovish outlook weighs heavily on the GBP and contributes to the … [Continue reading]
EUR/USD: ECB’s current approach to support Euro – Commerzbank
The ECB prepared the market well for today’s rate meeting. Esther Reichelt, FX Analyst at Commerzbank, notes that the Euro is well positioned to strengthen against the US Dollar. Euro goes well prepared into the ECB meeting “A 50 bps rate hike … [Continue reading]
Asian Stock Market: Gains seem restrictive despite Fed’s smaller rate hike and subdued oil price
Asian stocks are mildly positive despite the upbeat market mood post-Fed’s less-hawkish policy. Thursday’s session is going to be super-duper volatile ahead as the interest rate decision by the ECB and the BoE. Chinese equities are likely to dance to … [Continue reading]