Share: USD/CAD falls vertically below 1.3700 after the release of the US/Canada labor market data. US/Canada job growth slowed in October more than expected. Slower job growth may allow Fed policymakers to advocate for concluding the … [Continue reading]
GBP/USD: Move above 1.2250 to open up 1.2335 – ING
Share: The Bank of England (BoE) pushed back on talk of rate cuts. Economists at ING analyze GBP outlook after the BoE’s meeting. Forward guidance returns. Is the market listening? What was a surprise was the re-introduction of forward guidance – … [Continue reading]
EUR/USD Price Analysis: Remains below 50-day SMA, bearish flag pattern in play ahead of NFP
Share: EUR/USD oscillates in a narrow trading band on Friday as investors keenly await the US NFP report. The formation of a bearish flag pattern warrants caution before positioning for any further upside. Weakness below the 1.0600 mark could … [Continue reading]
Breaking: FTX founder Sam Bankman-Fried found guilty on all counts, including stealing $8 billion from users
Share: Sam Bankman-Fried, the founder and disgraced CEO of the bankrupt cryptocurrency exchange FTX, has been found guilty on all seven counts. As reported by Reuters, a 12-member jury convicted the former billionaire following a month-long trial. … [Continue reading]
EUR/JPY Price Analysis: Buyers loom around 160.00, target 161.00
Share: EUR/JPY climbs in North American session, gaining 0.22% and trading at 159.86. Buyers aim for a daily close above latest cycle high at 159.91 to open the door for further upside. If EUR/JPY prints a daily close below 159.91, potential … [Continue reading]
USD/JPY: Scope for the Yen selling to come to an end – MUFG
Share: The Yen weakened in October versus the US Dollar to levels above 150.00. Economists at MUFG Bank analyze Yen’s outlook. Yen weakness to persist but peak rates globally should halt slide We outlined in September the prospect of negative … [Continue reading]
USD/CAD tumbles to near 1.3800 as investors see Fed rates peak for now
Share: USD/CAD falls sharply to near 1.3800 as the US Dollar tumbles amid steady Fed policy. The USD Index drops to near 106.16 as investors see the Fed done with hiking interest rates. Investors await the US and Canadian Employment data for … [Continue reading]
Bitcoin price likely to experience volatility if US NFP report for October exceeds expectations
Share: Bitcoin price stayed above $35,500, following the Federal Reserve’s decision to hold interest rates. The US economy is expected to have added 180,000 Nonfarm Payrolls in October, after a nearly double increase in September. An … [Continue reading]
AUD/USD Price Analysis: Bulls have the upper hand near 0.6430-35 area, over three-week high
Share: AUD/USD gains traction for the second straight day and climbs to over a three-week top. The post-FOMC USD selling bias turns out to be a key factor behind the ongoing move up. A move beyond the 50-day SMA and the 23.6% Fibo. supports … [Continue reading]
Forex Today: Fed holds, Dollar slides and stocks rise
Share: Markets will continue to digest the FOMC meeting. During the Asian session, Australia is scheduled to release trade data and home loan figures. Later in the day, Switzerland will report consumer inflation data. More US employment data is due … [Continue reading]