The US Dollar Index (DXY) has given up some of its gains from yesterday and is trading near 106.25. A break under the 200-Day Moving Average (DMA) at 105.43 would set up a test of the August 10 low near 104.63, economists at BBH report. Near-term USD … [Continue reading]
Spain Consumer Price Index (MoM) below expectations (0.9%) in November: Actual (-0.1%)
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]
Gold Price Forecast: XAU/USD recovers firmly as Chinese marshals restrict unrest, US GDP in focus
Gold price has extended its recovery above the $1,750.00 hurdle as the risk-off impulse eases. A recovery in risk-on profile has failed to ease US Treasury yields gains. United States inflation will face significant heat on a slowdown in growth … [Continue reading]
NZD/JPY Price Analysis: Double top in the daily chart, targets a fall to 80.50
Risk aversion weighed on risk-perceived currencies, bolstering the safe-haven Japanese Yen. Hawkish commentary by Federal Reserve officials kept the New Zealand Dollar pressured. NZD/JPY Price Analysis: Double top in the daily chart, targets a fall … [Continue reading]
AUD/USD Price Analysis: Bears stay on top, eye break below 0.6650
AUD/USD bears breaking 4-hour supporting trendline. 0.6650 and then 0.6580 will be key milestones to leave the bears fully in control with 0.6550 and 0.6500 eyed. Protests against China's strict zero-COVID policy and … [Continue reading]
GBP/USD: Resistance from the 200 DMA at 1.2176 set to cap initially – Credit Suisse
The GBP/USD spotlight turns to its 200-Day Moving Average (DMA), currently seen at 1.2176. Economists at Credit Suisse expect Cable to struggle to surpass this hurdle. Support at 1.2025 needs to hold to keep the immediate risk higher “We look for the … [Continue reading]
UK to suffer negative GDP growth for four consecutive quarters – Danske Bank
The UK economy has entered a recession. Economists at Danske Bank expect negative GDP growth for four consecutive quarters and growth not to return until the fourth quarter of 2023. Inflation to stay elevated during 2023 “Q3 GDP figures marked the … [Continue reading]
EUR/USD Analysis: Bulls turn cautious near 200 DMA amid China’s COVID-19 jitters
EUR/USD remains on the defensive for the second straight day amid a modest USD strength. China’s COVID-19 woes weigh on investors’ sentiment and benefit the safe-haven greenback. Bets for less aggressive Fed rate hikes could cap the buck and limit … [Continue reading]
AUD/USD declines towards 0.6700 amid weak Aussie Retail Sales and China’s Covid protests
AUD/USD remains muted on a negative growth in Retail Sales as China’s Covid-inspired risks carry enough weight. Market sentiment has turned cautious amid anti-Covid lockdown protests. The USD Index is holding its gains above 106.00 amid a decline in … [Continue reading]
AUD/USD Price Analysis: Bulls could be tested at 0.6750 resistance
AUD/USD bulls meeting M-formation neckline resistance. The bulls need to commit at the 0.6700 area if there is to be a retest to the downside. As per the prior analysis, AUD/USD Price Analysis: Bulls eye 0.6900s into year-end, the bias remains … [Continue reading]