USD/JPY meets with a fresh supply on Wednesday amid broad-based USD weakness. Bets for smaller Fed rate hikes, softer US bond yields weigh heavily on the greenback. Recession fears benefit the safe-haven JPY and also contribute to the intraday … [Continue reading]
XRP price signals breakout, Ripple bulls to eye 20% rally soon
XRP price has breached a nearly 450-day declining trend line, indicating a bullish resurgence. Investors can expect the remittance token to retest the 200-week SMA at $0.493. A daily candlestick close below the EMA confluence at $0.379 will … [Continue reading]
USD/CAD declines towards weekly low at around 1.3340 ahead of BoC’s interest rate policy
USD/CAD is looking to extend its downside towards a weekly low around 1.3340 amid the risk-on market mood. The BoC is expected to hike interest rates further by 25 bps to 4.50% this week. Oil prices might deliver a recovery amid optimism over China’s … [Continue reading]
USD/CAD hovers around 1.3375 ahead of the BoC’s decision
USD/CAD seesawed around 1.3342-1.3417, ahead of the Bank of Canada monetary policy decision. Analysts expect the BoC to raise rates by 25 bps and to pause. The BoC would release monetary policy minutes for the first time in its history. The USD/CAD … [Continue reading]
EUR/USD Forecast: Euro faces key support at 1.0840
EUR/USD has turned south and declined below 1.0900. The pair is likely to find support at 1.0840. Mixed comments from ECB officials seem to be limiting the Euro's upside for the time being. EUR/USD has lost its traction and declined below 1.0900 … [Continue reading]
Gold Futures: Further correction not ruled out
Open interest in gold futures markets increased for the second session in a row on Friday, this time by around 5.4K contracts according to preliminary readings from CME Group. Volume, instead, reversed the previous build and shrank by around 48.6K … [Continue reading]
USD/INR Price News: Indian Rupee renews 10-week high near 81.00, focus on RBI, US GDP
USD/INR licks its wound after refreshing multi-day low. Strong foreign inflow, broad US Dollar weakness underpins USD/INR slump. Hawkish Fed talks fail to impress USD bulls amid hopes of easy rate hike in February, policy pivot afterward. Markets … [Continue reading]
USD/JPY bears eye 129.00 on BoJ Minutes, focus on US GDP, Tokyo inflation
USD/JPY takes offers to refresh intraday low after BoJ Minutes. BoJ Minutes flashed mixed signals as majority supported easy-money policy, one member criticized YCC tweak. Mixed sentiment, broad US Dollar weakness exerts downside pressure amid … [Continue reading]
Gold, Chart of the Week: XAU/USD trapping longs for a significant squeeze ahead of key red-hot events
Gold price bulls getting jammed in above the prior week's highs in the $1,920s. A phase of distribution could be on the cards with last week's highs a potential spring for the bears to lean against. Gold price made the highest level since April … [Continue reading]
Weekly Recap: Genesis bankruptcy hearing, hackers promote BAYC, US banks receive billions in loans
Crypto lending firm Genesis' bankruptcy hearing is scheduled on January 23. Indian cricket team Royal Challengers Bangalore (RCB)'s Twitter handle was reportedly hacked and changed to Bored Ape Yacht Club. Silvergate and Signature Bank … [Continue reading]