Headlines:Markets:AUD leads, GBP lags on the dayEuropean equities higher; S&P 500 futures up 0.4%US 10-year yields down 1 bps to 4.134%Gold up 0.5% to $2,033.42WTI crude flat at $74.07Bitcoin up 0.6% to $41,290It was a more tentative session for major currencies...
Global central bank policy pivot will be broad but not sharp, says Fitch
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,...
Dollar fails to seal the deal against the commodity currencies this week
I already outlined the technical predicament for AUD/USD earlier here. And the charts for USD/CAD and NZD/USD are also pointing to a lack of technical follow through by dollar bulls on the week.USD/CAD daily chartIn the case of USD/CAD, the pair did manage a push...
USDCAD Technical Analysis – Watch what happens around this key trendline
USDThe Fed left interest rates unchanged as expected at the last meeting with a shift in the statement that indicated the end of the tightening cycle. The Summary of Economic Projections showed a downward revision to Growth and Core PCE in 2024 while the Unemployment...
Market Recap: Global Stocks on AI rally; Yen Drifting
Economic Indicators & Central Banks: US labor-market data, strong weekly jobless claims, and higher-than-expected retail sales have added pressure against market rate-cut expectations. Markets now pricing a 57% chance of a US rate cut in March, down from 75% a...
Gold returns towards a test of key near-term levels again
The near-term chart for gold tells a better story on price action in the precious metal so far this year:Gold (XAU/USD) hourly chartDuring the downside push two weeks ago, gold struggled to get above the key hourly moving averages. And after a break of the 100-hour...
US futures race higher as equities look to keep the rebound going
S&P 500 futures are now up 0.4% with tech stocks leading the charge once again after the gains yesterday. Nasdaq futures are up 0.7% while Dow futures are up 0.2% currently. After having struggled earlier in the week, equities are producing quite a solid...
AUD/USD looks to capitalise on yesterday’s technical bounce
AUD/USD has gotten off to an awful start to the year, with the pair sinking 0.6800 all the way down to below 0.6600 in trading this week. The low yesterday tested the December low before seeing a bounce and buyers are now looking to take advantage of that. The mood is...
The USA100 Breaks Through Resistance Levels Achieving New Highs
Technology stock investors ignore signals of a restrictive monetary policy in 2024 and continue buying tech stocks. The USA100 climbs to its all-time highs after rising 1.56% on Thursday. Applied Materials (+4.54%), Qualcomm (+4.22%) and Apple (+3.25%) are amongst the...
Traders step up BOE rate cut bets but only slightly
For some context, after the hotter-than-expected UK CPI data here earlier this week, the bets were for around 111 bps worth of rate cuts for the year. So, it's not exactly a significant shift in expectations despite the abysmal retail sales data here.The first rate...
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European equities off to a positive start to the day
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,...
USD/JPY erases early advance to fall flat on the day now
Just when it looked like the pair might be poised for extending the break higher this week, sellers are stepping in strongly in the past hour to send price back down. The high earlier touched 148.80 but the pair now has dropped down to 148.11 on the day:USD/JPY 5 mins...
FX option expiries for 19 January 10am New York cut
There are a couple to take note of, as highlighted in bold.The first being for EUR/USD at 1.0850, which sits just above its 200-day moving average of 1.0845. Put together, that should provide some support for price action during the session ahead - that is if there is...
Germany December PPI -1.2% vs -0.5% m/m expected
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,...
UK December retail sales -3.2% vs -0.5% m/m expected
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,...
USD/JPY brushes aside Suzuki comments to fresh nine-week highs
The verbal jawboning by Japan finance minister, Shunichi Suzuki, earlier helped the yen currency out a little in Asia trading. But that didn't last long with USD/JPY now rising to fresh nine-week highs of 148.76. This comes after the technical break of the 100-day...
Will higher yields come back to bite broader markets before the weekend?
10-year Treasury yields are at their highest in over five weeks, running close to 4.16% now after a break of its 200-day moving average. The surge higher in yields was a problem for markets earlier this week but it wasn't the case in trading yesterday.US Treasury...
ForexLive Asia-Pacific FX news wrap: USD/JPY popped higher, Suzuki sent it back down
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,...
Japan Tertiary Industry Activity Index (November) -0.7% m/m (prior -0.8%)
The Tertiary Industry Index (AKA the Index of Tertiary Industry Activity) indicates the performance of the domestic service sector in Japan such as information and communication, electricity, gas heat and water, services, transport, wholesale and retail trade, finance...