GBPUSD retains bearish bias as key support region comes under the spotlight NZDUSD charts bullish double bottom pattern as RBNZ rate decision awaited WTI oil futures rotate higher after touching important pivot area [..]
GBPUSD trims more gains after bearish channel breakout Technical signals remain negative; support at 1.2670 GBPUSD bears powered up on Tuesday with scope to fight the 200-day simple moving average (SMA) and the support trendline from the 2022 low at 1.2670, which triggered the April-July bull trend. Notably, the 50% Fibonacci retracement of this upleg is in the neighborhood. The ongoing negative correction emerged after the price failed to crawl back above the broken bullish channel and the 1.2814 [..]
Euro/dollar volatility skyrockets as recession fears resurface Volatility in commodities jumps as geopolitics takes centre stage Stock indices experience much stronger volatility, decoupling from Bitcoin Volatility in the main FX pairs, including euro/dollar, jumped to the highest level of the past month as fears of recession, on the back of last Friday’s weak US labour market report, resulted in the market pricing in an aggressive easing path for most central banks during 2024. Yen pairs continue to attract extra interest [..]
Tech stocks lead selloff in equities amid recession fears, disappointing earnings Yen extends gains as safe havens rally but dollar mixed Will today’s nonfarm payrolls report calm markets or add to jitters? Carnage returns to equity markets The mid-week bounce on Wall Street didn’t last long as rate-cut optimism turned to gloom following soft economic data out of the US on Thursday. The ISM manufacturing PMI hit the lowest since November last month, with employment shrinking the most since June [..]
GBPUSD tests ascending trend line Stochastics and RSI indicate negative moves GBPUSD plunged towards the medium-term ascending trend line with strong momentum, breaking the 1.2800 psychological level after the BoE’s decision to cut rates. According to the technical oscillators, the stochastic is posting a bearish crossover within its %K and %D lines slightly above the oversold area, while the RSI is diving beneath the neutral threshold of 50. More downside pressures could open the way for a test of the 1.2740 support ahead of [..]
Yen crosses are very volatile after BoJ hike aids yen’s recovery Volatility in commodity sphere jumps amid geopolitical flare ups Global stock indices in turbulent waters but for different reasons Volatility in yen crosses has increased considerably as the latest interest rate hike by the BoJ has added more fuel to the yen’s recovery from multi-year lows against major peers. Moreover, the pound pairs have also been volatile as markets are bracing for the BoE’s rate decision later on Thursday. In commodities, volatility [..]
Fed’s Powell opens the door to a September rate cut, stocks rebound But dollar only tumbles against the yen, which surges after BoJ hike BoE rate cut bets intensity ahead of decision, pressuring sterling Oil comes back to life as ME conflict takes another dangerous turn Powell flags a possible September cut The Federal Reserve delivered no surprises on Wednesday, keeping interest rates unchanged as expected. But markets mostly got what they were hoping for – a clear signal that [..]
GBPUSD declines steadily from 1-year high The bears eye the 50-day SMA as next target Momentum indicators ease but remain positively tilted GBPUSD had been on the rise following its bounce off the 50-day simple moving average (SMA) in late June. Although the pair posted a fresh one-year high of 1.3043 on July 17, it has been undergoing a downside correction since then. Should bearish pressures persist, the price could face the recent support of 1.2805, a region that also acted as [..]
USDJPY rapid fall pauses near key support region as investors wait for BoJ tightening Gold shows signs of recovery ahead of FOMC rate decision and nonfarm payrolls Will the BoE meeting send GBPUSD lower? Focus turns lower to 1.2750 area BoJ rate decision –> USDJPY Central bank meetings will take center stage this week, with the Bank of Japan’s policy announcement on Wednesday drawing the most attention as investors speculate about the possibility of double tightening measures. Although the [..]
Yen looks to extend gains as BoJ set to press ahead with policy normalization Wall Street bounces back on hopes of upbeat tech earnings, Fed rate cut signal Gold and oil in tepid rebound despite heightened tensions in Middle East BoJ to kick off trio of central bank meetings The Japanese yen edged higher on Monday as investors anticipate the Bank of Japan to take the next steps in its policy normalization plans when it announces its latest decision on [..]
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