US Dollar Price Action Setups Pre-FOMC: EUR/USD, AUD/USD, USD/JPY
The US Dollar is holding near resistance ahead of a massively important FOMC rate decision. Expectations are high – will the Fed deliver?
Oil Slips on China Demand Worries, while EU Weighs Russia Oil Ban
China COVID19 lockdowns hurt nearterm demand EU set to finalise further Russia sanctions Coming up API supply report, 2030 GMT LONDON, May 3 Reuters Oil slipped about 1 on Tuesday as concerns about the demand outlook due to prolonged COVID lockdowns in China outweighed support from a possible European oil embargo on Russia over its […]
USD/CAD Technical Outlook: Big Level Lies Ahead Just Beneath 13000
USD/CAD is trading near an important level dating to 2019 that has been tagged as both support and resistance; will CAD make or break the level?
AUD Jumps as RBA hikes More than Expected; JOLTS report
Rates as of 0500 GMT Market Recap AUD was the focus of attention as the Reserve Bank of Australia RBA hiked by 25 bps to 0.35, a totally unforeseen move. Out of the 30 forecasts compiled by Bloomberg, five people thought theyd hike to 50 bps and six thought they wouldnt hike at all. The […]
Japanese Yen Wallows Near Historical Lows Against the US Dollar and the Swiss Franc.
The Japanese Yen remains vulnerable against the US Dollar and the Swiss Franc. While steady for now, if ranges break, how low can the Yen go?
Oil Preparing for Sharp Moves
The price of crude is down more than 3 by the start of the New York trading session with a tugofwar around 100 a barrel of WTI. And this is a rather remarkable market reaction, given reports that EU countries are dropping their veto on the Russian oil embargo one by one. Germany, followed by […]
Lira Rate Probably Helped Turkey to near Inflation Peak
The Turkish lira rose 3.3 against the euro in April due to the latters weakness. However, a monthly close near 14.82 for USDTRY would be another alltime high, as the lira has little to counter the strengthening dollar. The remarkable stability of the lira after the wild swings of the past year works in favour […]
Commodity Currencies Down as US inflationary Pressures rise
Rates as of 0500 GMT Market Recap The commodity currencies remain under pressure as markets grow increasingly riskaverse. US stocks fell sharply Friday, with the SP 500 down 3.6 and the beleaguered NASDAQ off 4.2. The NASDAQ is down 21 so far this year, its worstever start to a year. US stocks were hit Friday […]
AUD/USD Pins Hopes on RBA Hike as Dow Jones Rebound Fails to Inspire Prices
The Australian Dollar fell versus the US Dollar ahead of today’s rate decision from the Reserve Bank of Australia (RBA) despite a strong rebound on Wall Street. Hong Kong GDP is also in focus for A…
Nasdaq 100: NQ Fresh Yearly Lows Before the Fed Steps to the Plate
The Nasdaq 100 has just set a fresh yearly low and there’s potential for a steeper slide as prices have fallen below a key point of support on the chart.