Sterling strengthened broadly today, support by comments from Jonathan Haskel, a known hawk on BoE’s MPC. Haskel indicated his preference to maintain interest rates until there is clear evidence that inflationary pressures have subsided sustainably. This stance has introduced some uncertainty regarding the widely anticipated BoE rate cut in August. While many economists still expect
USD/CHF falls below 0.9000 amid a weak US Dollar. The Fed is expected to start lowering interest rates in September. Easing Swiss inflation has boosted prospects of more rate cuts by the SNB. The USD/CHF pair extends its losing streak for the fourth trading day on Monday. The Swiss Franc asset stays below the psychological
When the market trends, traders are better served to understand when the market shifts the trend, versus trying to pick a top or bottom depending on which way the market is trending. For the GBPJPY, it has been trending over the last seven or so months. The price has also been above (and comfortably) its
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Oil prices were little changed as investors eyed energy supply disruption, with the largest ports in Texas shut before Tropical Storm Beryl likely strengthens into a hurricane and makes landfall on Monday. Brent crude futures inched up 11 cents, or 0.1%, to $86.65 a barrel as at 0042 GMT after closing down 89 cents on
EUR/USD clipped into 1.0840 after broad-market risk appetite rally after US NFP print. Sharp NFP revisions have reignited hopes for a September Fed rate cut. Coming up next week: Fed Chair Powell, US CPI print, German Retail Sales. EUR/USD whipsawed after a mixed US Nonfarm Payrolls (NFP) print on Friday before settling on the high
The USDCAD traded to the lowest level since June 3 earlier today, and in doing so tested the lower basement area down to 1.35972. The 200-day moving years was just below that level at 1.35953. The low price today reached 1.3601 as buyers /profit takers leaned against the swing area. The combination of the US
UPCOMING EVENTS: Monday: Japan Wage data. Tuesday: US NFIB Small Business Optimism Index, Fed Chair Powell Testimony. Wednesday: Japan PPI, China CPI, RBNZ Policy Decision, Fed Chair Powell Testimony. Thursday: UK GDP, US CPI, US Jobless Claims. Friday: New Zealand Manufacturing PMI, US PPI, US University of Michigan Consumer Sentiment. Tuesday Fed Chair Powell will
Oil prices were little changed in Asian trade on Friday but were on track for a fourth straight week of gains and holding near their highest levels since late April on hopes of strong summer fuel demand and some supply concerns. Brent crude futures, which have risen 7% over the last four weeks, slipped 2
The past week marked a significant downturn for Dollar, which found itself at the bottom of the currency performance chart. A slew of unfavorable economic reports has highlighted the tangible effects of sustained high interest rates on the American economy, fostering a growing consensus that Fed may begin to ease these rates as soon as
NZD/USD edged higher and closed above the 20 SMA support around 0.6120. With the technical outlook now showing signs of bullishness, the pair tests resistance around the 0.6150 level. On Friday, the NZD/USD saw gains of 0.40% to 0.6050, as it managed to close above the 20, 100, and 200-day Simple Moving Averages (SMA). As
The AUDUSD has been trading mostly between 0.6573 and 0.67134 going back to early May. This week, the price rope to the upside reaching the highest level since early January. Today, the price corrected lower upheld sport against the old highs near 0.6708/0.6713. The price broke higher. The price corrected down to retest the break
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Oil prices settled lower on Friday as the rising possibility of a ceasefire deal in Gaza outweighed strong summer fuel demand and potential supply disruptions from Gulf of Mexico hurricanes. Brent crude futures settled down 89 cents, or 1.02% lower, to $86.54 a barrel, after reaching their highest since April earlier in the session. U.S.
Wall Street finished higher for the holiday-shortened trading week, with tech stocks leading the way. The Dow Jones Industrial Average gained under 1% for the week. The S & P 500 and Nasdaq , which both closed at record highs Friday — rising nearly 2% and 3.5%, respectively, for the week. The first week of
Gold price leaped over 1% to $2,385, spurred by mixed US NFP data and heightened Fed rate cut speculation. June NFP surpasses forecasts, yet revisions for April and May indicate an accelerating labor market cooldown. US Dollar Index (DXY) declines 0.16% to 104.95; 10-year Treasury yield drops more than six basis points to 4.284%. The
As the trading week works toward a close, the NZDUSD is trading near highs for the week. Technically the move to the upside has also breached the 100-bar MA on the 4-hour chart at 0.61116 and the 200 bar moving average on the same chart at 0.61267. The high price today reached 0.6139. As we
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not