The Japanese Yen drifts lower against its American counterpart for the sixth straight day. Expectations that the BoJ will keep rates steady this week continue to weigh on the JPY. Elevated US bond yields contribute to driving flows away from the lower-yielding JPY. The Japanese Yen (JPY) continues losing ground against its American counterpart on
Gold price stages a modest recovery from a one-week low touched earlier this Monday. Geopolitical tensions, softer US bond yields and USD benefit the safe-haven XAU/USD. Bets for a less dovish Fed warrant caution for bull ahead of the FOMC meeting this week. Gold price (XAU/USD) ticks higher following an Asian session downtick to the
USD/CAD maintains its position below the multi-year high of 1.4245 marked on Friday. CME FedWatch tool suggests full pricing in a quarter basis point cut by the Fed on Wednesday. The Canadian Dollar faced challenges as the BoC eased its monetary policy aggressively. USD/CAD inches lower after marking a multi-year high of 1.4245 on Friday, trading
The USDCAD moved higher today, extending to a new 4+ year high of 1.4243, surpassing levels last seen in April 2020. The next key target is 1.4264, the high from April 2020. A break above this level could pave the way for further upside momentum. Why Multi-Year Highs Matter When an asset trades at multi-year
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
The NZDUSD is trading at a new 2024 low today, reaching 0.5753, positioning the price near the midpoint of key swing lows from November 2022 and end of October 2023: 0.5739 (November 2022 low) 0.5772 (October 2023 low) A break below this support area would strengthen the bearish bias, encouraging traders to probe lower levels.
US yields are trading at fresh highs, with the 10-year yield up 7.0 basis points today to 4.395%. This marks a 24-basis-point gain for the week, the largest 1-week jump since mid-January 2024. The rising yields have fueled a strong rally in the USDJPY, which continues to track higher. Key Technical Levels and Price Action
GBPUSD Technical Analysis: Sellers Regain Control The GBPUSD started the week in a choppy trading range, with buyers repeatedly testing the 200-bar moving average (MA) on the 4-hour chart. Over the first four days (and last Friday), the price briefly moved above this MA multiple times, but each attempt quickly failed. On Thursday, buyers gave
The EURUSD is ending the week lower after an up-and-down path to the downside. The move to the downside fell below a cluster of MAs with the 200 hour MA being the one that has put a lid on the pair on Tuesday, Wednesday, Thursday and again on Friday. That ceiling increases the 200 hour
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
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
US 30 year bonds US 30-year bonds have had a worrisome week. They’ve risen for five straight days in a climb to 4.61% from 4.31% and that’s coming at the same time as Chinese debt heads in the other direction. Now some of that could be seasonal quirks and we’re still within the post-election range.
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
The problem with trying to stop chip restrictions to China is that it’s easy enough for people in other countries to buy them, mark up the prices and then re-sell them to China. That might be ‘illegal’ but with the stakes so high, it’s a loophole that will be infinitely exploited. We’ve seen the same
Pres. elect Trump and his Doge team is reportedly looking to eliminate daylight savings time. So there would no longer be a “spring forward” in the 2nd Sunday of March and ending in November. Musk and Ramaswamy have said the U.S. should stop changing its clocks twice a year, calling it inefficient and annoying for
The major US indices are ending the session with mixed results. The Dow industrial average is marginally lower. The S&P is near unchanged. The NASDAQ index is marginally higher. A snapshot of the closing levels shows: Dow industrial average fell -86.06 points or -0.20% at 43828.06. The NASDAQ closed lower for the 7th consecutive day
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 in early Asian trade on Thursday as forecasts of weak demand and a higher-than-expected rise in U.S. gasoline and distillate inventories stemmed gains from an additional round of European Union sanctions that threatened Russian oil flows. Brent crude futures were down 5 cents at $73.47 a barrel at 0141 GMT.
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