FX

Share: In this technical blog, we will look at the past performance of the 1-hour Elliott Wave Charts of Nikkei. We presented to members at the elliottwave-forecast. In which, the rally from 03 May 2023 low unfolded as an impulse structure. And showed a higher high sequence favored more upside extension to take place. Therefore, we advised members

Share: The Dow Jones Industrial Average gained 2% last week. DJIA index retreats 0.2% on Wednesday morning. FOMC minutes for June 13-14 meeting arrive Wednesday afternoon. 35,500 remains the primary Dow target for bulls. US June jobs report out on Friday with 225K the consensus. The Dow Jones Industrial Average (DJIA) edged down on Wednesday

Share: AUD/USD has dropped to near 0.6680 as the focus shifts to the US labor market and FOMC minutes. Caixin Services PMI has sharply dropped to 53.9 from the former release of 57.1. Investors are hoping that FOMC minutes could provide confident cues that the Fed would raise interest rates two times by year-end. AUD/USD

Share: USD/MXN falls to fresh YTD lows of 17.0156, with MXN benefiting from thin trading volumes due to US Independence Day celebrations. Despite robust US data – including firm Durable Good Orders, Consumer Confidence, and Q1 GDP reports – a weaker-than-expected inflation report and ISM Manufacturing PMI dampen greenback appeal. Mexican economic indicators show promise,

Share: Asia-Pacific markets remain mildly positive amid softer US data, hopes of Sino-American ties. Yield curve inversion renews recession fears and weigh on market’s optimism amid US holiday. Australia’s ASX rises half a percent on RBA’s surprise status quo. Japan intervention, inflation fears from South Korea also prod Asian equity buyers. Market sentiment in the

Share: The USD/CHF rises to a daily high of 0.9000, above the 20-day SMA, then retreats towards the 0.8960 area. Soft Swiss inflation figures from June weakened the Swiss Franc during the European session. US Manufacturing PMI dropped to 46 in June, weighing on the US Dollar. At the start of the week, the USD/CHF saw some volatility

Share: USD/INR prints the biggest daily loss on a day, so far, since early June on breaking the key support. India reports the biggest FPI inflow of 2023 in June, up for the fourth consecutive month. Firmer Oil price, mixed sentiment and softer US inflation gauge prod Indian Rupee traders. FOMC Minutes, US NFP will

Share: Despite daily gains, the XAU/USD is set to close a third consecutive week of losses, near the $1,920 area. Declining yields amid soft PCE figures weakened the USD favouring Gold prices. On Friday, the gold spot XAU/USD traded with nearly 0.50% gains, jumping near the $1,920 area. Soft Personal Consumer Expenditures from the US

Share: EUR/GBP slides as UK bond yields surpass German bond yields, strengthening the Pound. From a technical perspective, the pair exhibits a neutral to downward bias, with long-term daily EMAs standing above exchange rates. The EUR/GBP must regain the 0.8600 level and surpass the May 24 daily low resistance of 0.8648 to shift its bias.

Share: The XAG/USD jumped above $22.70, seeing more than 0.80% gains and is set to close a winning week. Core PCE declined to 4.6% YoY in May, lower than expectations. Following the data the USD and US bond yields retreated. The XAG/USD surpassed the $22.70 mark on Friday and registered an increase of over 0.80%.

Share: USD/MXN holds steady near 17.1200 as easing US inflation slows US Dollar’s climb, despite concerning Mexican jobs data. US Dollar Index drops more than 0.50% after the softer-than-expected inflation report, allowing breathing space for the peso. Expectations of unchanged rates from Banxico favor MXN, potentially signaling further downside for the USD/MXN pair. USD/MXN stays

Share: Natural Gas price recovers following the release of US inflation data which comes out lower than expected, weighing on the US Dollar.  Natural Gas had been trading flat-to-lower prior to the data on Friday due to greater-than-expected stockpiles in Europe. This largely eclipsed US data out on Thursday showing a fall in inventories last week.  Natural

Share: USD/INR edges lower on Friday and extends the overnight pullback from a two-week high. The technical setup still favours bullish traders and supports prospects for additional losses. Some follow-through buying beyond the 82.25 area is needed to negate the negative outlook. The USD/INR pair edges lower during the Asian session on Friday and moves

Share: Pending Home Sales in the US unexpectedly fell in May. US Dollar Index holds in positive territory, moves off highs.  Pending Home Sales in the US declined by 2.7% on a monthly basis in May, the data published by the National Association of Realtors showed on Thursday. This reading followed April’s 0.4% slide (revised

Share: Silver Price takes offers to reverse late Wednesday’s corrective bounce while reversing from 50-SMA. Five-week-old descending support line in the spotlight amid looming bear cross, steady RSI. XAG/USD needs to cross convergence of 200-SMA, 100-SMA to retake control. Silver Price (XAG/USD) drops to $22.70 as it portrays one more U-turn from the 50-SMA hurdle

Share: Economists at Wells Fargo remain somewhat hesitant on the medium term prospects for the British Pound and Canadian Dollar. Aggressive BoE easing next year should restrain the UK currency For the Pound, we expect that the Bank of England’s restrictive monetary policy will not prove supportive given slow growth and elevated inflation, while aggressive

Share: Gold price attracts some buyers during the Asian session, albeit lacks follow-through. Bets for more rate hikes by the Federal Reserve underpin the US Dollar and cap gains. Traders now look forward to Fed Chair Jerome Powell’s comments for a fresh impetus. Gold price edges higher during the Asian session on Wednesday and recovers

Share: The monthly CPI, due out on Wednesday, is one of the last data points before the next interest RBA rate decision. Economists at Commerzbank analyze how the figures could impact the Aussie. RBA is likely to pause again in early July As the RBA now appears to be approaching the peak of the current