EUR/CHF Rebounds from 50-week SMA, Outlook Remains Uncertain
EUR/CHF has rallied from December 2023 lows but faces resistance at the 50-week Simple Moving Average (SMA). Despite recent strength, the long-term downtrend may still be intact. Conflicting Signals: Technical Outlook: Key Takeaways:
Gold Price Consolidates Near Record Highs Ahead of US CPI Data
Gold price (XAU/USD) takes a breather near all-time highs as investors await Tuesday’s critical US Consumer Price Index (CPI) data. The inflation release will significantly influence the outlook for US interest rates and, consequently, Gold’s trajectory. Key Factors: Technical Outlook:
EUR/USD Spikes on Mixed US Jobs Data, Focus Shifts to CPI
EUR/USD rallied to an eight-week high near 1.0980 following Friday’s US Nonfarm Payrolls (NFP) report. While job additions beat forecasts, the report’s complexity, including substantial downward revisions to previous figures, left markets uncertain. Attention now turns to next week’s Consumer Price Index (CPI) releases for both the US and Eurozone. Technical Outlook: Short-term Uncertainty: EUR/USD’s […]
USD/CAD Slumps Below 1.3500 Amid Weakening USD, Eyes NFP Report
The Canadian Dollar (CAD) gains ground against a softer US Dollar (USD), pushing USD/CAD below 1.3500 ahead of Friday’s crucial US Nonfarm Payrolls (NFP) report. Canadian labor data will also be released on Friday. While CAD gains against the USD, it remains mixed against other currencies, losing ground to JPY, AUD, and NZD. Technical Outlook: […]
US Dollar Softens Ahead of Fed Testimony, ECB Decision
The US Dollar (USD) weakens on Wednesday as mixed job market data and Fed Chair Jerome Powell’s testimony fueled market uncertainty. Powell hinted at rate cuts but emphasized the need for sustained inflation control. ADP and JOLTS data signal a tighter labor market, potentially influencing the Fed’s decision timeline. Focus shifts to Thursday’s European Central […]
USD/JPY Crashes to 150.00 as BoJ Exit Rumors Swirl
The USD/JPY pair plummeted to the key 150.00 support level during early American trading, driven by mounting expectations that the Bank of Japan may finally end its ultra-loose monetary policy. Positive statements from Japanese officials about the economic outlook are bolstering these hopes. Market focus now shifts to the US ISM Services PMI and Fed […]
AUD/JPY Holds Modest Gains Near 98.04, Mixed Momentum Signals
AUD/JPY traded at 98.04 on Monday, showing a slight bullish bias with a 0.12% gain. While recent buying momentum has eased, technical indicators suggest a cautious bullish outlook. On the daily chart, the Relative Strength Index (RSI) remains in positive territory, indicating short-term bullish sentiment despite recent moderation. The Moving Average Convergence Divergence (MACD) histogram […]
US Dollar Flat Ahead of Key Jobs Report, Powell Testimony and ECB Decision
The US Dollar (USD) is surrendering recent gains this Friday, set to close the week near flat despite contradictory signals from economic data and Federal Reserve (Fed) commentary. While ISM and University of Michigan data suggest inflationary pressures could re-emerge, Fed officials maintain confidence in the disinflationary trend, downplaying recent inflation readings and reaffirming a […]
EUR/USD Retreats to 1.0800 as Mixed Data, US Inflation Weigh
EUR/USD stumbled back towards 1.0800 on Thursday, following weaker-than-expected German Retail Sales and mixed Consumer Price Index (CPI) data. Although US Personal Consumption Expenditure Price Index (PCE) met forecasts, investor confidence remains shaky as stubbornly high inflation could delay potential Federal Reserve (Fed) rate cuts. Friday brings crucial pan-European Harmonized Index of Consumer Prices (HICP) […]
EIA Report Fuels Crude Oil Sell-Off, OPEC Outlook in Focus
West Texas Intermediate (WTI) crude oil prices briefly pushed above $79.00 on Wednesday before retreating on news of another substantial US inventory build reported by the Energy Information Administration (EIA). The EIA’s data adds to the inventory increase reported by the American Petroleum Institute (API) on Tuesday, further pressuring prices. The EIA reported a 4.199 […]
