Yesterday’s US Consumer Price Index (CPI) read dealt a big blow to the Dollar. Nonetheless, economists at ING think it is premature for a sustained Dollar downtrend. Too early for a broad Dollar downtrend “It simply appears too early to call victory … [Continue reading]
TRON’s TRX skyrockets 387%, but can FTX traders benefit from this?
Justin Sun’s FTX plan has caused Tron's native token TRX to trade at $0.28 on FTX while its market value on Binance sits at $0.056. Following FTX and Justin Sun's agreement on a 1:1 TRX swap, the altcoin shot up by 4,126% on November 10. FTX users … [Continue reading]
AUDJPY inclines towards 94.00 ahead of RBA policy minutes
AUDJPY is inching higher towards 94.00 as the focus has shifted to Tuesday’s RBA policy minutes. RBA minutes will provide a detailed explanation behind keeping the pace of the rate hike at 25 bps. Japan’s Kanda reiterated that officials are … [Continue reading]
GBPJPY Price analysis: Testing the neckline of an “H&S” pattern at 165.00
The Pound fails at 167.10 and returns to the support area at 165.00. Below 165.00 the pair may activate an "H&S" pattern targeting 160.00 or lower. The Pound headed south against the Japanese Yen for the third consecutive day on Thursday, … [Continue reading]
EURJPY under pressure, testing 144.00 as Yen soars across the board
Japanese yen soars after US CPI numbers on expectations of a less aggressive Fed. US Dollar tumbles, USDJPY is down more than 400 pips. EURJPY testing critical support area 144.00. The EURJPY cross is having the biggest daily decline in … [Continue reading]
EURJPY Price Analysis: Corrective decline could extend to 144.00
EURJPY extends the weekly leg lower for the third session in a row. Immediately to the downside now comes the 144.00 region. EURJPY clinches the third straight day with losses and breaks below the key 146.00 support on Thursday. The cross seems to … [Continue reading]
FX option expiries for Nov 10 NY cut
FX option expiries for Nov 10 NY cut at 10:00 Eastern Time, via DTCC, can be found below. - EUR/USD: EUR amounts 0.9800 1.25b 0.9815-25 711m 0.9850 310m 0.9860-70 1.4b 0.9900 1.33b 0.9925-35 … [Continue reading]
EURUSD flirts with parity as ECB Bulletin, US inflation data loom
EURUSD struggles after reversing from two-month high, retreats of late. Mixed headlines surrounding key risk catalysts, mostly dovish Fedspeak keep buyers hopeful. US inflation expectations drop but those from Eurozone stay firmer of late. Bulls can … [Continue reading]
EURUSD rebound from parity, risk-off impulse still solid ahead of US CPI
EURUSD has found an immediate cushion around 1.0000 ahead of the US CPI. US equities witnessed a massive sell-off amid anxiety ahead of US mid-term elections. Eurozone CPI is still seen at 3% in three years and 5.1% in the next 12 months. The … [Continue reading]
USDCAD climbs towards the head-and-shoulders neckline, though hovers around 1.3470
USDCAD rose by 0.35% as buyers are eyeing to reclaim the 50-day EMA at 1.3515. Risk aversion kept CAD buyers from extending the USDCAD losses towards the head-and-shoulders chart pattern 1.3030 targets. Canadian and US jobs data suggests that the BoC … [Continue reading]