The week is breezing by but nerves are increasingly frayed after 4 consecutive declines in US equities. Today's highlight is the duo of the Philly Fed (shown above) and initial jobless claims, both at the bottom of the hour.There are sign of softening in the US jobs...
ForexLive European FX news wrap: Currencies muted on lack of meaningful data
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
GBPUSD Technical Analysis – Watch these key resistance zones
USDThe Fed left interest rates unchanged as expected at the last meeting with basically no change to the statement. The Dot Plot still showed three rate cuts for 2024 and the economic projections were upgraded with growth and inflation higher and the unemployment rate...
Dollar’s dominant status as world’s reserve currency set to endure – Morgan Stanley
Morgan Stanley says that the dollar's dominant status as the world's reserve currency is set to persist. That is in part due to its credible challengers, such as the Chinese yuan, being rather lacking at the moment.While there have been some concerns about the...
German economy likely expanded in Q1 – Bundesbank
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USD/JPY stays underpinned for now with watchful eyes on 155 mark
Even with the drop in Treasury yields yesterday, it did little to faze price action in USD/JPY. The pair remains underpinned but buyers are not gathering enough courage to take things further. For now, the 155.00 hurdle remains one step too far after all the verbal...
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Eurozone February current account balance €29.5 billion vs €39.4 billion prior
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
Gold (XAU/USD) Price Holds Steady Amid Pause in Middle East Tensions
Gold (XAU/USD Price and AnalysisIsrael/Iran conflict – The lull before the storm?Gold consolidates ahead of a potential breakout.Download our latest Q2 Gold Technical and Fundamental analysis for Free: Recommended by Nick Cawley Get Your Free Gold Forecast Get My...
ECB’s de Guindos: Appropriate to loosen restrictive policy if inflation conditions are met
In his words: "If our updated assessment of the inflation outlook, the dynamics of underlying inflation and the strength of monetary transmission were to further increase our confidence that inflation is converging to our target in a sustained manner, it would be...
GBP/USD continues to consolidate below 1.2500 for now
The near-term chart better depicts the price action in the pair on the week:GBP/USD hourly chartWhile the dollar has retreated a little, it hasn't amounted to much in GBP/USD as of yet.The jump after the UK inflation data yesterday stalled upon testing the 100-hour...
PBOC deputy governor says will keep yuan exchange rate basically stable
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
EUR/USD bounces back a little on the week, but what does the chart say?
The dollar's recent advance is stalling a little on the week, holding slightly lower today as well. That is seeing EUR/USD be up another 0.2% to 1.0689 as it keeps up a modest bounce from the 1.0600 mark earlier this week. So, is this bounce a significant one? Let's...
Switzerland March trade balance CHF 3.54 billion vs CHF 3.66 billion prior
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FX option expiries for 18 April 10am New York cut
There are a couple to take note of, as highlighted in bold.The first ones are for USD/JPY with the big one being a $6 billion set of expiries at 153.00. That is seen quite a distance away from the current spot price, but it is one to take note of given the size. That...
BOJ’s Noguchi: Some big firms are benefiting from a weaker yen
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PBOC cautions against ‘one-sided’ pursuit of credit expansion
This relates to the latest money supply and credit data here. Of note, broad credit growth hit a record low in March. And that bolsters the case for the PBOC to step up stimulus measures to try and prop up the economy. In lieu of that, the Chinese central bank is...
Dollar cools off in trading this week
The dollar is seeing its recent advance stall, as traders are trying to figure things out amid the lack of major economic data releases in trading this week. I'll dive more into the charts later in analysing the changes in near-term sentiment for the dollar. But for...
ForexLive Asia-Pacific FX news wrap: USD/JPY takes a quick peek under 154.00
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ECB speakers Thursday include Schnabel, Centeno, Simkus and Vujcic
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