Share: EUR/USD found some room higher but still lacks upside momentum. Final German HICP and CPI inflation brought no surprises. US CPI inflation, EU GDP figures slated for next week. The EUR/USD found some room on the high side on Friday, … [Continue reading]
Tech stocks lift Nasdaq, S&P 500 sees its first-ever close above 5,000
Share: S&P 500 ended the week at a new all-time high above 5,000. Alibaba, PayPal and Disney were among noteworthy companies that reported earnings this week. Technology Sector is the best-performing S&P 500 major sector on Friday. The … [Continue reading]
Gold Price Forecast: XAU/USD declines as bears gather traction ahead of US CPI
Share: The XAU/USD retreated to $2,025 on Friday, registering losses of 0.40% on the day. Despite soft CPI revisions, the metal failed to gather traction. Daily chart indicators hint at a bearish bias, with RSI's negative slope and MACD's rising … [Continue reading]
Forecasting the Coming Week: US inflation figures grab all the attention
Share: Following Monday’s Powell-driven sharp rebound in the US Dollar, the risk-linked galaxy managed to regain some balance as the sessions passed by, sparking a decent recovery in the likes of the single currency and the British Pound in an … [Continue reading]
Natural Gas in the eye of a US political storm
Share: Natural Gas hits another rock bottom level by hitting $1.85. Traders are sending Gas prices lower with pressure mounting on ending Biden’s Gas moratorium. The US Dollar Index eases and heads back to test 104 with a possible break towards the … [Continue reading]
Canada Jobs Report Preview: Anticipated Increase in Unemployment Rate
Share: The Unemployment Rate in Canada is expected to tick higher in January. A positive surprise could prompt the Bank of Canada to delay rate cut plans. Further cooling of the labour market could put the Canadian Dollar under … [Continue reading]
NZD/USD rises to near 0.6120 on ANZ prediction of RBNZ rate hike in February
Share: NZD/USD gains ground on the expectation of RBNZ to increase interest rates in February. ANZ anticipates the RBNZ to increase OCR by a 25-basis point in both February and April. Reuters poll anticipates that the PBOC will maintain the … [Continue reading]
NZD/JPY rallies to multi-month highs due to dovish BoJ
Share: The NZD/JPY rose to 91.05 on Thursday, registering a 0.70% rally. The Yen was one of the worst-performing currencies due to dovish BoJ comments. On the four-hour chart, overbought conditions suggest a possible correction in the near term. … [Continue reading]
US Dollar trades higher, bolstered by positive Jobless Claims
Share: The DXY stabilized at 104.15 on Thursday after reaching a daily high of 104.40. Weekly Jobless Claims came in higher than expected in the week ended in February 3. Markets digest Fed official Barkin's words. The US Dollar (USD) … [Continue reading]
Fed’s Barkin: We have time to be patient on rate changes
Share: Federal Reserve (Fed) Bank of Richmond President Thomas Barkin told Bloomberg on Thursday that economic data has been remarkable across the board but noted that he is cautious about the accuracy of numbers at the turn of the year. Barkin … [Continue reading]