The new governor of the Bank of Japan, Kazuo Ueda, is currently in the spotlight as traders attempt to determine how closely he will adhere to his predecessor's ultra-loose monetary policies. Despite inflation in Japan reaching a 40-year high, Japanese interest rates have remained unchanged, causing the yen to weaken considerably over the past year. In his...
The gold-silver ratio is a key metric that traders use to assess the relative value of gold and silver. The ratio is calculated by dividing the price of gold by the price of silver and is used to determine whether one of these precious metals is under or overvalued. Effectively, the ratio tells you how many pieces of silver you could purchase for one piece of...
We have learned that almost all US Federal Reserve officials backed a 25-basis-points rate hike at the last FOMC meeting held on January 31 to February 1.
Only a few officials favored a larger 50-basis-points hike at the meeting or said they "could have supported" it. Even so, many more dovish sentences were spoken in the latest meeting than compared to the...
The Reserve Bank of New Zealand will deliver its second interest rate decision of 2023. The decision is release on Wednesday 2pm NZDT (Tuesday 8pm EST) What makes this interesting is that the country has just been hit by Cyclone Gabrielle which has reportedly caused more than NZ$12 billion worth of damage to infrastructure and private property. As such, some...
A beautiful amount of volatility entered the market after the release of the US inflation data a few hours ago. Some large wicks presented in the GBP/USD which eventually tested and rejected at 1.2121 to the downside. Although, the more interesting wicks occurred exactly at the time of the release, with the market feeling out a high of 1.2270 and a low of 1.2150....
It is prudent to examine the strength of the US dollar against the pound in the lead up to two very important inflation data reports. First is the US inflation data due on Wednesday morning at 2.30 am (NZDT). And second is the UK’s inflation data on Wednesday night at 8.00 pm (NZDT). The annual US inflation rate to January 2023 is expected to fall to about 6.2%...
The cryptocurrency market is largely decentralized, in theory, meaning that no single entity or group controls it. However, there are many individuals and organizations in the market that have significant influence and followers, who they can use to manipulate cryptocurrency prices. Some of the most prominent crypto influencers include:
Vitalik Buterin: Vitalik...
The EUR/USD exchange rate is hovering just above $1.07, close to a nine-month high of $1.1034 reached last week. This is due to the European Central Bank's (ECB) hawkish stance, as ECB board member Isabel Schnabel has stated that the recent interest rate hikes by the ECB have had little effect on inflation. The ECB has raised interest rates by 50 basis points at...
The Japanese yen has fallen past 132.50 per dollar (from 129.00 last Friday), reaching its lowest point in four weeks following reports that the government is considering Bank of Japan Deputy Governor Masayoshi Amamiya as the next central bank leader.
Amamiya is seen as the most dovish of the potential candidates, putting an end to hopes of the BoJ normalizing...
GBPJPY has consolidated in the daily chart since the start of the year, following a steep decline in December. The price for GBPJPY keeps bouncing on the major area between 161.800 resistance and 156.300 support on the daily timeframe. There is also a minor consolidation between 161.800 and 160.600. This minor consolidation area is highlighted between the 50-EMA...
Is it too early to say that Bitcoin has entered a bullish trend? The weekly timeframe suggests that the overall trend might no longer be bearish considering the current price of Bitcoin has broken the upper line of the downward trend line.
A factor that could prevent Bitcoin from moving higher is that it is approaching the 200 EMA period, which could be a strong...
The S&P 500 is headed for its best January since 2019, when it gained nearly 8%. So far, the market index is up ~5.0% this year, following a 19% loss last year. But this rally might have paused for the time being, as the Federal Open Market Committee begins its 2-day meeting. After which, the Federal Reserve is expected to hike its interest rate by 25 basis...
The AUD/NZD is an interesting pair to examine after the release of each country’s respective inflation reports yesterday.
In New Zealand, the annual inflation rate remained steady at 7.2%, prompting investors to forecast that inflation in the country has peaked, and the Reserve Bank of New Zealand can slow the pace of interest rate hikes moving forward, inducing...
The Price Filter Indicator suggests that the AUD/USD has entered a bullish trend. The indicator has moved above the 0-line and turned green, which is a bullish signal with this indicator. This is the first time the indicator has entered green territory since April last year. The green surface area indicates that the trend reversal to the upside has momentum and...
The Bank of Japan is wrapping up its two-day policy meeting today, and the decision it announces at the conclusion could have huge ramification for Japanese markets and the yen. There is currently intense speculation that the bank may shift from its current path of ultra-loose policy, or at least offer some guidance concerning future moves.
Let's look at the...
Gold has rallied by more than $300 per ounce over the last 10 weeks with only a brief period of consolidation around $1,800. Now, gold is tentatively holding above $1,900, after reaching $1,929 in yesterday’s trade, before closing the day slightly lower.
On the Hourly chart we are witnessing a period of consolidation. The hourly chart also provides a clear...
January has been historically a good month for stocks as some investors reenter the market after selling some of their holdings at the end of the year. The bullishness at the start of each year is dubbed the ‘January Effect’.
On January 6, US stocks staged their first big rally of the year, with the Dow Jones Industrial Average closing 2.13%, the S&P 500 jumped...
It's important to stay informed about the market and various data reports that can affect silver prices. Here are some key data reports that traders should watch when trading silver:
1-Gold-silver ratio: The gold-silver ratio is the number of ounces of silver that are needed to purchase one ounce of gold. A high ratio indicates that silver is relatively cheaper...
