Technical Analysis

Fundamental Overview The USD continues to be backed by good economic data as we have also seen recently from the US PMIs last Friday and the US Consumer Confidence report this week. Yesterday, we also got the US Jobless Claims figures where the data showed that the labour market continues to rebalance via less job

Fundamental Overview The USD continues to be backed by good economic data as we have also seen recently from the US PMIs last Friday and the US Consumer Confidence report this week. Yesterday, we also got the US Jobless Claims figures where the data showed that the labour market continues to rebalance via less job

Fundamental Overview The USD continues to be backed by good economic data as we have also seen recently from the US PMIs last Friday and the US Consumer Confidence report this week. Yesterday, we also got the US Jobless Claims figures where the data showed that the labour market continues to rebalance via less job

Fundamental Overview The USD continues to be backed by good economic data as we have also seen recently from the US PMIs last Friday and the US Consumer Confidence report this week. Although such data keeps the interest rates expectations stable around two cuts by the end of the year, it should also support the

Fundamental Overview The USD continues to be backed by good economic data as we have also seen recently from the US PMIs last Friday and the US Consumer Confidence report this week. Although such data keeps the interest rates expectations stable around two cuts by the end of the year, it should also support the

Fundamental Overview Crude oil managed to eventually break above the key $80 resistance as the market has finally started to catch up to positive drivers. In fact, we got the recent OPEC+’s extension of voluntary output cuts, and we are seeing a pickup in economic activity as the US PMIs showed once again last Friday.

Fundamental Overview The USD continues to be backed by good economic data as we have also seen recently from the US PMIs last Friday and the US Consumer Confidence report yesterday. Although such data keeps the interest rates expectations stable around two cuts by the end of the year, it also supports the risk sentiment

Fundamental Overview We got a bit of a pullback in the S&P 500 in the last few days. If we were to try to find a catalyst, the second miss in a row in the US Jobless Claims last Thursday could be it, but the data was still pretty good and not worrying in the

Fundamental Overview The USD last week finished slightly positive but overall, it was a pretty flat week. We got some great US PMIs on Friday which showed growth without inflationary pressures. In fact, despite the strong PMIs the market pricing for interest rates remained unchanged. That should be generally positive for risk sentiment going forward.

Fundamental Overview The USD last week finished slightly positive but overall, it was a pretty flat week. We got some great US PMIs on Friday which showed growth without inflationary pressures. In fact, despite the strong PMIs the market pricing for interest rates remained unchanged. That should be positive for risk sentiment for the time

Fundamental Overview Despite good data on the inflation and growth front, Bitcoin couldn’t find a sustained bid amid the generally positive risk sentiment. There was no real catalyst for the drop other than a key technical support getting breached. We got a quick drop into a key support zone today which will likely attract more

The Swiss National Bank cut rates by 25 basis points yesterday and that reversed the downward bias that the USDCHF was experiencing going into the rate decision. The subsequent move higher move back above the 38.2% retracement of the move up from the December 2023 low at 0.8883, a swing area between 0.8881 and 0.8892,

The USDJPY has lifted back to the upside and is back above the 159.00 level after the stronger-than-expected S&P/global manufacturing and services index flash data. The high price traded up to 159.206. That gets it to 100 pips short of the 2024 high price at 160.208. That I was the highest level going back to

The AUDUSD this week traded down to test a swing area between 0.6575 and 0.6590. The subsequent move to the upside then tested the high of a swing area between 0.6677 and 0.66896 (see the chart below). Staying with the confines of the “red box” where most of the trading has taken place over the

The GBPJPY has been on an upward trend this week, but it turned lower during the European session following weaker-than-expected flash PMI data. The price dropped below its 100-hour moving average (blue line on the chart above at 200.77) but found support near the 200-hour moving average and the lower boundary of a swing area

As the clock ticks to the end of the trading week, the USDCAD has moved higher after reaching a new low for the week earlier in the trading day. On the way to the low, the price did move back below its 200 bar moving average on the 4-hour chart at 1.3687. It also fell

The broader US stock indices have now moved into negative territory and traded two new session lows. The S&P is down -18 points are -0.33% at 5469. The NASDAQ and is down -133 pointer -0.74% at 17729. Nvidia shares are now negative by $2.26 or -1.59% $133.38. Apple shares are down by $4.45 or -2.08%

GBPUSD sellers are making a play The GBPUSD fell earlier today. The BOE kept their policy rate unchanged today. However, as Justin pointed out in his posts after the decision, the Bank of England’s latest statement includes subtle dovish hints suggesting potential rate cuts in the near future. In the forward guidance, the BOE added,