FX

Share: Following the release of the German IFO Business Survey, the institute’s Economist Klaus Wohlrabe said that the “German economy is far away from the substantial upswing.” Additional quotes Proportion of German companies that want to raise prices has fallen again. German economy is lacking momentum. Industry’s export expectations have risen. Strong economies in China and

Share: Weekly forecast, April 24 – 28, 2023 Uptrend scenario An uptrend will start as soon, as the market rises above resistance level 4177, which will be followed by moving up to resistance level 4223 – 4244. Downtrend scenario The downtrend may be expected to continue, while market is trading below resistance level 4177, which

Share: S&P Global PMI figures ease recessionary fears, boost US economy. Traders’ moods fluctuating to risk-on/off dominated the New York session. EU’s PMI results are mixed; manufacturing activity shranks, while Services and Composite Indices exceed expectations. Markets remain cautious amid uncertain rate outlooks from the Fed and the ECB. The EUR/USD prepares to finish the

Share: US Dollar benefits from upbeat Manufacturing and Services PMIs for April. Fed’s Harker signals the end of rate hikes, but Mester suggests higher rates are needed. NZD/USD Price Analysis: Bearish biased and can test YTD lows if it dives below 0.6084. The NZD/USD fell to six-week lows around 0.6126 as business activity in the

Share: GBP/USD cracking 1.2400 could trigger a bearish resumption, exposing 100 and 200-day EMAs at 1.2173. Buyers pushing GBP/USD above 1.2400 could spark upward momentum and test YTD high at 1.2546. After a tranche of UK and US economic data, GBP/USD stays in sideways choppy trading, keeping the pair scrambling for direction following the last

Share: Markets are on pause, awaiting catalysts. It will be the week before the central bank’s weeks. Major currency pairs are moving sideways, with a mixed US Dollar, holding on to recent losses versus EUR and GBP. The pattern could continue next week, considering that the first week of May is crucial with monetary policy

Share: USD/JPY remains under heavy selling pressure for the second successive day on Friday. Stronger inflation figures from Japan and a softer risk tone benefit the safe-haven JPY. Bets for more Fed rate hikes act as a tailwind for the USD and could limit further losses. The USD/JPY pair drifts lower for the second successive

Share: NZD/USD shows a likelihood of a continuation to the downside. The 0.6180 structure is the line in the sand. As per the prior analysis, NZD/USD Price Analysis: Bears eye a continuation to 0.6120, the bias remains bearish as the following will illustrate. NZD/USD prior analysis NZD/USD was embarking on a run to test a 50% mean reversion level

Share: The index gives away some gains below the 102.00 mark. Global markets remain within a consolidative phase so far. Weekly Claims, Philly Fed Index next of note in the docket. The greenback, when tracked by the USD Index (DXY), trades slightly on the defensive below the 102.-00 region on Thursday. USD Index looks at

Share: Analysts at Danske Bank forecast the AUD/USD pair at 0.68 in a month, at 0.68 in three months and at 0.67 in a six months period.  Key quotes:  “The Reserve Bank of Australia (RBA) paused its hiking cycle in March following the banking sector uncertainty. After the strong March employment data, markets now price

Share: Open interest in gold futures markets rose by just 300 contracts on Tuesday after two daily drops in a row according to preliminary readings from CME Group. Volume, instead, shrank for the second straight session, now by more than 105K contracts. Gold faces some consolidation near term Tuesday’s uptick in gold prices was on

Share: Federal Reserve’s policymakers’ hawkish comments did not underpin the US Dollar US housing data missed estimates, though EUR/USD traders ignored it. EUR/USD Price Analysis: Upside risks lie at 1.1000, potentially exposing the YTD high; downside risks are below 1.0900. EUR/USD snaps two days of consecutive losses and climbs, and seesaws around the 1.0950 figure,

Share: New Bank of Japan (BoJ) Governor Kazuo Ueda said on Tuesday, there is “no immediate need to review the 2013 joint statement with the government.” Ueda added that the “government labor reform has helped revive the economy.” Market reaction USD/JPY is unfazed by the above comments, keeping its range near 134.35, down 0.08% on

Share: Greenback stages a comeback, boosted by higher US Treasury bond Yields Empire State Index surprises with 10.8 point jump in March’s report. GBP/USD Price Analysis: Double top emerges, but the pair must fall below 1.2344 to confirm the pattern. GBP/USD dropped after forming a double top in recent price action during the last nine days

Share: GBP/JPY prints mild gains within bearish chart formation. Downbeat MACD signals, clear break of three-week-old previous support line keeps sellers hopeful. 100, 200 SMAs can prod bears before directing them to theoretical target of 162.30. Bulls need to cross the 167.00 hurdle to retake control. GBP/JPY remains mildly bid near 166.40 heading into Monday’s

Share: Sentiment deterioration, amidst mixed Fed signals, weakened the NZD. Inflation expectations in the United States moved higher, according to Americans. NZD/USD traders are eyeing next week’s NZ CPI report. NZD/USD snapped two days of consecutive gains and slid past the 200, 50, and 100-day Exponential Moving Averages (EMAs) on a risk-off impulse spurred by

Share: The US Dollar Index found bids at around the YTD lows at 100.788. USD bulls must retake 104.000 to challenge YTD high at 105.883 and maintain a double-bottom approach. Contrarily, USD bears must reclaim 100.788 to test the 200-week EMA at around 99.117. The US Dollar Index (DXY), a basket of six currencies against

Share: Here is what you need to know for next week: Markets are offering mixed signs amid an uncertain outlook. Not even central bankers know what to do next. After crucial economic data from the US, what is clear is that the economy is softening and inflation is slowing down. Another week went without a