Gold at risk of a bearish trend reversal below 2,285 GBPUSD extends its negative trajectory; 200-EMA in focus USDJPY tests intervention risks above 160 ahead of core PCE inflation data [..]
GBPUSD rebounds from a 1-month low But the price trades flat in past couple of sessions Momentum indicators improve but remain neutral GBPUSD came under some selling pressure following its recent three-month peak of 1.2859, breaking below the short-term ascending trendline that connects its higher lows since April. Moreover, the pair fell to a fresh one-month low last week, but the 50-day simple moving average (SMA) prevented further retreats. Should the short-term pullback extend, the June support of 1.2655 could act as the first line of defence. [..]
Yen crosses are very volatile as they approach intervention levels Volatility is extremely low in the commodity sphere US and global equities exhibit volatility jump, Bitcoin follows suit Volatility in yen pairs has been elevated for the past few days as they have been trading within breathing distance from the levels that Japanese authorities were willing to defend in the recent past. Meanwhile, despite some signs of stabilization on the continent, the euro remains at the upper end of its volatility range against major currencies. In commodities, gold and silver have been exhibiting low volatility amid a [..]
Dollar stands tall after SNB cut and BoE’s dovish hold Yen enters intervention zone as Japan’s underlying inflation falls Euro slips on weak PMIs, US PMIs next in focus Nasdaq tumbles as Nvidia hit by profit taking ahead of triple witching Fed cut hopes not enough to dent the dollar The US dollar looks set to finish the week higher, extending its winning streak to a third week. Whilst signs of a cooldown in inflationary pressures as well as the [..]
GBPUSD fails to extend above 20-day SMA Price remains beneath short-term uptrend line Momentum oscillators head south GBPUSD is falling after the BoE interest rate decision, retesting the 1.2670 support level and still standing beneath the steep uptrend line. The pair may find immediate support at the 1.2360-1.2670 region, which is also near the 50-day simple moving average (SMA) at 1.2620. Even lower, the 200-day SMA, which lies near the mid-level of the longer-term trading range at 1.2550, may halt the bearish movements. The technical oscillators [..]
Risk appetite buoyed by signs of weakening US consumption Wall Street closes at record highs ahead of US holiday, oil also rallies Pound edges up as services CPI remains sticky despite drop in headline September rate cut hopes get a boost US retail sales fell short of expectations on Tuesday, in another sign that consumers in America have started to rein in their spending. Retail sales increased by just 0.1% m/m in May following a downwardly revised decline of 0.2% [..]
Euro and pound pairs are very volatile but for different reasons Volatility is extremely low in the commodity sphere US and global equities exhibit volatility jump, Bitcoin seems quiet Volatility in euro crosses has picked up as the region suffers from political instability following the EU elections and fears of a renewed debt crisis. Also, pound pairs are very volatile ahead of the May UK CPI report on Wednesday and BoE rate decision on Thursday. In commodities, gold and silver have been exhibiting low volatility amid a period of rangebound [..]
Soft UK data increase chances for September rate cut But wage growth remains elevated BoE meets on Thursday at 11:00 GMT But looming election could be a reason for cautiousness Investors more convinced about a September cut At its latest gathering, the Bank of England (BoE) appeared dovish enough to encourage market participants to assign a decent chance for a first quarter-point rate cut in June, but that didn’t last for long as the hotter-than-expected inflation data for April, and [..]
GBPUSD declines to its lowest level since May 17 Momentum indicators ease but remain in positive zones GBPUSD was in a steady recovery following its bounce off the 2024 bottom of 1.2298, with the price violating both the 50- and 200-day simple moving averages (SMAs). In the near term, although the pair surged to a three-month high of 1.2859, it quickly reversed lower. Should the pullback extend, the recent support of 1.2655 could act as the first line of defence. Further retreats [..]
GBPUSD holds a bearish bias ahead of UK inflation, BoE rate decision AUDUSD retains neutral outlook as all eyes turn to the RBA policy decision USDCHF sustains 0.8890 floor; Will the SNB trigger the next bull wave? BoE rate decision –> GBPUSD UK CPI inflation and the Bank of England’s rate decision could produce a new wave of volatility for GBPUSD on Wednesday and Thursday, respectively. Given the rebound in the Eurozone CPI inflation and the stickiness in the [..]
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