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]
EUR/USD Price Analysis: Upside bias alleviated below 1.0800
Share: EUR/USD keeps the inconclusive price action well in place. Further weakness could retest the 55-day and 100-day SMAs. EUR/USD keeps the range bound theme in place above 1.0900 on Wednesday. Despite the current inconclusive price action, … [Continue reading]
Gold Price Forecast: XAU/USD looks vulnerable above $1,930 US yields seem well-supported
Share: Gold price is expected to extend its downside journey below $1,930.00 ahead of Fed Powell’s testimony. Investors are eager to know whether Fed Powell would choose a 50 bps rate hike or a data-dependent approach. Gold price is on the edge of … [Continue reading]
USD/JPY Price Analysis: Extends bounce off 141.40 support confluence within rising wedge
Share: USD/JPY picks up bids to reverse the previous day’s retreat from the highest levels in seven months. Upside break of immediate resistance line, firmer oscillators favor intraday buyers of Yen pair. 100-HMA joins bottom-line of weekly rising … [Continue reading]