Share: The US Dollar Index found bids at around the YTD lows at 100.788. USD bulls must retake 104.000 to challenge YTD high at 105.883 and maintain a double-bottom approach. Contrarily, USD bears must reclaim 100.788 to test the 200-week EMA at … [Continue reading]
AUD/USD reverses course below 0.6700 after hitting resistance at 200-day EMA
Share: Retail Sales in the United States plunged as Industrial Production decelerated. US Consumer Sentiment improved, but the needle on inflation expectations rose. AUD/USD Price Analysis: Could test 0.6600 with a daily close below 0.6700. … [Continue reading]
US: Industrial Production rises by 0.4% in March vs. 0.2% expected
Share: Industrial Production in the US grew at a stronger pace than expected in March. US Dollar Index stays in positive territory above 101.00. Industrial Production in the US expanded by 0.4% in March following February's increase of 0.2% … [Continue reading]
Crude Oil Futures: Outlook is expected to remain bullish
Share: CME Group’s flash data for crude oil futures markets showed traders reduced their open interest positions by around 12.4K contracts on Thursday, while volume reversed three dailu pullbacks in a row and went up by around 294.3K contracts. WTI … [Continue reading]
Gold Price Forecast: XAU/USD gathers strength to capture $2,050 as US economy eyes recession
Share: Gold price is aiming to capture the critical resistance of $2,050.00 as USD Index is eyeing more downside. Reduced borrowing by US banks from the Fed is advocating further slowdown in the US economy. Gold price is on the verge of delivering … [Continue reading]
USD/CAD hovers below 1.3350 after a nosedive move inspired by weak US Inflation outlook
Share: USD/CAD is oscillating near 1.3340 after an intense sell-off inspired by lower US consumer inflation expectations. The USD Index printed a fresh 11-month low at 100.42 as significantly decelerated US PPI joined already softened US CPI. US … [Continue reading]
AUD/USD Forecast: Aussie jumps to test 0.6800, technicals favor a break above
Share: AUD/USD Current Price: 0.6793 Australian labor market remains strong, while it appears to be softening in the US. AUD/USD soars amid risk appetite and weaker US Dollar. Short-term outlook points to more gains despite overbought … [Continue reading]
United States EIA Natural Gas Storage Change below expectations (28B) in April 7: Actual (25B)
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or … [Continue reading]
Ireland Consumer Price Index (MoM) dipped from previous 1.6% to 1.1% in March
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or … [Continue reading]
EUR/USD Analysis: Bulls pause following the post-US CPI rally, upside potential intact
Share: EUR/USD is seen consolidating its recent gains to the highest level since early February. Looming recession risks benefit the safe-haven USD and act as a headwind for the major. Expectations for an imminent Fed rate hike pause to cap the … [Continue reading]