USD/CAD is trading heavy ahead of Canada’s inflation report, weighed down by softer US economic data and fading sticker shock from US trade policy headlines. With Canadian data impressing at rates not seen since mid-2024 and January’s steep reversal from 22-year highs increasingly resembling a cyclical top, the key question now is whether this marks the start of a...
USD/CHF has dropped more than 1.7% over the past two trading sessions as the U.S. dollar continues to weaken. So far, selling pressure on the U.S. currency remains strong, following disappointing retail sales data, which showed a -0.9% decline compared to the expected -0.2%. This has fueled concerns about a potential economic slowdown in the U.S.
Meanwhile, the...
Gold has turned lower on the session - making for a more interesting end to the week. Indeed, the markets have been quite intriguing this week, with the US dollar at the centre of the action. Despite hotter-than-expected inflation data, the greenback softened following Trump’s more measured stance on tariffs, while the euro found support amid his expressed...
During the last session, the SPX 500 index gained more than 1.2% following the release of PPI data in the United States. The core PPI (m/m) remained in line with expectations at 0.3% , providing a slight relief to the market, which had been on the edge after annual CPI inflation came in at 3.0%, exceeding the 2.9% forecast.
This mixed inflation data has...
I think there is a good case for gold to correct itself in the not-too-distant future, but a confirmed reversal stick needs to be formed for me to turn bearish on XAU in short-term outlook.
With Trump declaring that he will end the wars in the Gaza and Ukraine, one could argue that haven demand is going to drop back if he achieves those goals. What’s more, his...
AUD/JPY is making another attempt to break downtrend resistance dating back to the highs struck in July last year. With momentum indicators such as RSI (14) and MACD turning bullish, this attempt may prove more successful than January’s failed breakout.
The intersection of the downtrend with minor horizontal support at 96.80 looms as a key level in assessing...
Chart Analysis:
USD/CAD is showing signs of weakness, having dipped below the key 1.4300 support level, putting further downside into focus.
1️⃣ Breakdown Below Support:
The 1.4300 level, which previously acted as strong support, has now failed.
Sustained trading below this level could accelerate bearish momentum.
2️⃣ Moving Averages Tilting Bearish:
50-day...
Chart Analysis:
USD/MXN remains stuck in sideways consolidation, with price action respecting both rising trendline support and overhead resistance at 20.80.
1️⃣ Support and Resistance Levels Holding:
Key resistance at 20.80 has repeatedly capped rallies, preventing a breakout.
Trendline support near 20.40 continues to hold, but a breakdown could open the door...
Chart Analysis:
USD/JPY finds support at the 38.2% Fibonacci retracement level (151.50), leading to a sharp recovery above the 200-day SMA.
1️⃣ Fibonacci Retracement Levels Holding:
The recent pullback tested key Fibonacci retracement levels, with buyers stepping in at 151.50 (38.2%).
Further support levels sit at 149.23 (50%) and 146.95 (61.8%), which remain...
The USD/JPY extended its rally following the release of hotter-than-expected US CPI data, which fuelled a surge in bond yields and strengthened the dollar. Headline CPI rose 0.5% month-over-month, surpassing the expected 0.3%, while Core CPI climbed 0.4% versus the 0.3% forecast. On an annual basis, CPI reached 3.0% and Core CPI hit 3.3%, both above expectations....
Nasdaq remains within the borders of its 2-year up-trending channel, and a break above 22,000–22,200 is needed to confirm the next rally toward 22,800–22,900.
On the downside, tariff pressures and AI competition have led to temporary dips to 20,800. A firm close below 21,200 and 20,800, particularly below the 2-year channel boundaries, could extend losses toward...
Australian ASX 200 SPI futures remain a buy-on-dips play until the price action suggests otherwise, bouncing again off channel support on Tuesday, repeating the pattern seen numerous times over the past two months.
Even though momentum indicators don’t look great, with MACD rolling over while RSI (14) remains in a modest downtrend, it’s hard to turn outright...
The German index increased just over 3% in the past five sessions, driven by the strong performance of companies such as SAP, Siemens, and Deutsche Bank , which have posted gains exceeding 3% during this period. Notably, these companies represent more than 20% of the weight in DAX 40, making their positive performance a key factor in sustaining the bullish...
Gold has dropped more than $50 from its overnight high, when it set a new a record at $2942. It is now back below $2900 as rising bond yields and the dollar provides counterbalance to haven demand amid trade wars.
At the time of writing, it was testing short-term support near $2880/84 area, where it had previously found resistance, before breaking to new all...
Gold surged to an un-sustained high of $2,942 per ounce, touching the lower boundary of its October 2023–2024 up-trending channel, before retreating below the key $2,920 level.
RSI has hit extreme overbought levels, last seen during the U.S. elections, signaling a potential pullback, especially with U.S. CPI data and trade negotiations ahead.
A close above...
McDonald's stock has surged over 4.5% , reinforcing its bullish momentum, which had been paused after a prolonged neutral phase. Today’s earnings report has been a key driver, as the company posted earnings per share of $2.83 , in line with forecasts, along with a questionable sales figure of $6.39 billion , slightly below the $6.44 billion ...
Amid upside risks from Trump’s tariffs and downside pressures from policies favoring price cuts and overproduction, oil remains highly volatile, trading above key support levels while maintaining its broader downward trajectory from 2022 to 2025.
Critical support zones to monitor include $69.5, $66, and $64, which have acted as key rebound areas since December...
Currently hovering just above the intersection of minor horizontal and uptrend support, with momentum indicators such as RSI (14) and MACD continuing to generate bullish signals, a potential long setup is emerging in silver.
Bulls could consider establishing longs above $31.75, with a tight stop beneath this level or the minor uptrend established on January 27....
