The EURJPY has been up 5 of the last 6 trading days since bottoming on January 3rd at 137.377. That is a rise of 544 pips. The high price reached 142.85. That sniffed the 100 day MA at 143.026. The price high today also tested the December 28 high at 142.926. Getting above both of
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Thursday’s CPI report is the highlight of the week and the final one before the Feb 1 FOMC decision. The consensus is for a fall 6.5% y/y from 7.1% as the numbers continue to retreat from above 9% in the scary June report. Equally important is the month-over-month trend, which is expected to show a
Gold price jumped by Rs 89 to Rs 56,126 per 10 gram in the national capital on Wednesday amid gains in rates of the precious metal globally, according to Securities. In the previous trade, the yellow metal had settled at Rs 56,037 per 10 gram. Silver also rose Rs 677 to Rs 69,218 per kilogram.
EUR/CHF is providing some excitement in otherwise dull markets today. The cross finally breaks out from the sideway pattern started back in October. Some buying is also seen in Euro against Sterling and Aussie, but it’s staying in very tight range against the greenback. Indeed, Euro and Dollar are currently the strongest ones for the
XAG/USD is under pressure after breaking short-term support levels during the American session. The metal is under pressure, approaching the $23.00 level. US Dollar mixed as equity prices rises modestly. Silver is under pressure during Wednesday’s American session, trading at the lowest level since Friday, near $23.20. The white metal is falling by 1.25%, getting
Bitcoin (BTC) staged a brief but promising return to $17,500 overnight on Jan. 11 as newfound strength lingered. Bitcoin fails to win over skeptical traders Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting new local highs of $17,504 on Bitstamp. Almost tying with the peak from Dec. 16, the pair displayed rare upside
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Like other currency pairs today (see EURUSD post here), the USDJPY is stuck in a the wash cycle today where the price action is getting mixed. Looking at the hourly chart, the low reached in the Asian -Pacific session found support buyers near the lows from yesterday and within a swing area between 131.297 and
Well, Fed chair Powell’s anticipated remarks ended up being a non-event and now all eyes are focused on tomorrow’s US CPI data instead. That will make for a quiet period today with surely a lack of conviction across the board. The dollar remains in a tricky spot with EUR/USD and AUD/USD both threatening upside breaks,
Oil prices fell on Wednesday, erasing the previous session’s gains, after industry data showed an unexpected build in crude and fuel inventories in the United States, the world’s biggest oil user, which reignited worries about fuel demand. U.S. West Texas Intermediate (WTI) crude futures fell 59 cents, or 0.8%, to $74.53 a barrel at 0134
Australian Dollar regains some ground in Asian session today, following stronger than expected monthly CPI data. In the background, market sentiment also stabilizes after Fed Chair Jerome Powell refrained from commenting on monetary policy or inflation. New Zealand Dollar is currently the second strongest, followed by Swiss Franc. Yen is the worse performer, followed by
The World Bank slashed its global growth forecasts from projections it made in mid-2022 on the back of what it sees as broadly worsening economic conditions. The international development institution downgraded almost all of its forecasts for advanced economies in the world, cutting its growth outlook for the global economy to 1.7% for 2023, it
Extra gains could encourage GBP/USD to revisit the 1.2330 region in the next few weeks, comment Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group. Key Quotes 24-hour view: “We held the view yesterday that ‘there is room for one more push higher in GBP before the risk of a pullback
The major US stock indices are picking up some steam to the upside. The major indices are near their highs on the day. A snapshot of the market currently shows: Dow Industrial Average up 128 points or 0.3% at 33645.52 S&P index of 21.96 points or 0.56% 3914 NASDAQ index up 90.78 points or 0.85%
Bank of America Global Research constructed a G10 heatmap of likely G10 FX drivers this year. “FX markets are already close to the end of 2023 consensus forecasts, but this is a year with plenty of known unknowns. We are concerned about the outlook of risk assets in the short-term, whether sticky inflation during a
Gold price fell Rs 105 to Rs 56,160 per 10 grams in the national capital on Tuesday, according to Securities. The yellow metal had ended at Rs 56,265 per 10 grams in the previous trade. Silver also tumbled Rs 833 to Rs 68,725 per kilogram. “Comex gold prices traded flat in Asian hours on Tuesday