Share: USD/JPY has shown signs of exhaustion in the upside momentum. Further upside in the USD Index is still favored as the Fed is consistently reiterating the need for more rate hikes. Reuters reported that Japan's government and the BoJ will act … [Continue reading]
USD/JPY prepares for a fresh rally above 143.50 amid risk-off mood
Share: USD/JPY is expected to extend a rally above 143.50 as market sentiment has dampened. The US Dollar Index has printed a fresh day's high at 102.70 amid sheer uncertainty in global markets. Japan’s inflation has unexpectedly softened despite … [Continue reading]
Silver Price Analysis: XAG/USD extends 200-DMA breakdown to refresh three-month low near $22.00
Share: Silver Price drops to the lowest levels in three months during five-day losing streak. Clear downside break of previous support line from mid-March, 200-DMA favor XAG/USD bears. Bearish MACD signals also suggest further downside of the … [Continue reading]
NZD/USD turns south during Powell’s testimony
Share: The NZD/USD reversed its course during the American session, falling from a high of 0.6222 to 0.6180. The US reported mixed mid-tier data. Chair Powell’s hawkish remarks during his second-day testimony before the US Congress boosted US … [Continue reading]
WTI plummets due to global rate hike fears, worldwide economic slowdowns woes
Share: Central bank rate hikes, led by BoE, stoke fears of diminished oil demand. WTI falls despite recent OPEC+ output cuts and surprise dip in US crude inventories. Traders shift focus to China’s upcoming factory activity data amidst concerns … [Continue reading]
EUR/CZK to move below 23.70 in coming days – ING
Share: The Czech Koruna has been trading at weaker-than-expected levels in recent weeks, but economists at ING still believe EUR/CZK should go lower. The CZK should benefit most from a rebound in EUR/USD On a global level, the CZK should benefit … [Continue reading]
SNB’s Maechler:Central bank has sold forex in recent quarters
Share: Swiss National Bank (SNB) governing board member Andrea Maechler said on Thursday, “SNB has sold forex in recent quarters.” Further comments “We will also sell foreign currency in the future if this is appropriate for monetary policy.” “We … [Continue reading]
Natural Gas Price Analysis: XNG/USD trades above 23.6% Fibo., bullish potential intact
Share: Natural Gas price edges lower on Thursday, albeit lacks follow-through selling. The technical setup favours bulls and supports prospects for additional gains. A break below the overnight swing low is needed to negate the positive outlook. … [Continue reading]
Gold Price Forecast: XAU/USD bears run out of steam near $1,920 despite Fed Powell’s hawkish testimony
Share: Gold Price remains defensive near the lowest level since March, jostles with three-week-old support. Federal Reserve Chairman Jerome Powell advocates for further rate hikes and weighs on XAU/USD price. Economic, geopolitical fears … [Continue reading]
EUR/GBP Price Analysis: Soars following UK inflation release, eyes key technical levels
Share: EUR/GBP tests 20-day EMA ahead of challenging the 0.8600 figure. Oscillators portray buyers gaining momentum in the near term; long-term, further EUR/GBP downside is expected. The EUR/GBP YTD low at 0.8518 could be the next support. EUR/GBP … [Continue reading]