The USD/JPY extends its weekly gains to 0.74% on Tuesday. Falling US Treasury yields capped any U¨SD/JPY’s attempts towards the YTD highs near 136.70s. A rising wedge in the USD/JPY daily chart looms; if it plays out, it will send the pair tumbling towards 132.00. The USD/JPY extends its string of days, advancing to three … Read more
Canadian Dollar Talking Points USD/CAD appears to be mirroring the price action from last month as it quickly pulls back from a fresh yearly high (1.3079), and the exchange rate may face a further decline over the coming days amid the failed attempts to retrace the decline from the November 2020 high (1.3371). USD/CAD Forecast: … Read more
AUD/USD bears are in control, for now, and target a break of 0.6900. The bulls could be lurking not far below. As per the prior series of analyzes this week so far, AUD/USD Price Analysis: A break from 0.6950 is on the cards, AUD/USD bulls seek a break of 0.6925 for 0.6950 target area, AUD/USD … Read more
US STOCKS OUTLOOK: US stocks plunge as consumer confidence falls to the lowest level since February 2021 Nasdaq 100 leads losses on Wall Street, the S&P 500 re-enters bear market territory The ECB’s Forum in Sintra will be the center of attention on Wednesday Most Read: Gold Price Forecast – Gold Grinds into Quarter-End as … Read more
The New Zealand dollar tumbles courtesy of a negative market mood and a bid US dollar. US June’s CB Consumer Confidence dipped to a 10-year low on US citizens’ concerns about high inflation and slower growth. The US Dollar Index is back above the 104,000 thresholds, courtesy of quarter and month-end flows. The NZD/USD ticks … Read more
The pound may not receive a lasting support from the Bank of England, even if it accelerates rate hikes, as investors override concerns about UK investment and growth, explain analysts at Rabobank. Key Quotes: “The BoE was quicker out of the blocks on policy tightening than many other G10 central banks this cycle. However, the … Read more
USD/CHF bounces off near-daily lows and stays above the 50% Fibonacci retracement in the H1 chart. Disappointing US economic data sparks a counter-cyclical move with the US dollar rising instead of falling. The USD/CHF daily chart formed a double top that is in play, but USD/CHF sellers’ failures to breach 0.9520, might open the door … Read more
US: CB Consumer sentiment falls to a 16-month low. Stocks turned lower, main indexes fall by 1% on average. AUD/USD falls from six-day highs toward 0.6900. US stocks turned to the downside on Tuesday and boosted the US dollar. The AUD/USD dropped to 0.6909, hitting a fresh daily low. It remains under 0.6930 with a … Read more
Reuters has reported that San Francisco Federal Reserve Bank President Mary Daly on Tuesday said she believes the US economy will slow to below 2% annual growth as the Fed raises interest rates, but there’s enough momentum that it won’t stop growing. “I do expect the unemployment rate to rise slightly, but nothing (like)…. what … Read more
S&P 500, Nasdaq 100 – Talking Points S&P 500 fails to hold 3900, falls to support at .3860 Nasdaq 100 falls below 12000 despite falling Treasury yields Lagarde, Powell, Bailey all scheduled to speak on Wednesday Risk assets pulled back after the opening bell in New York as investors remain on the edge over geopolitical … Read more