Yesterday, data from Statistics Canada was published, which testified to the stability of inflation in the country: the rise in prices for the month amounted to +0.6% (+0.3% was expected).
This increased the likelihood that the Bank of Canada will raise the rate yet again. Now it is at a maximum for 22 years and is 5.0%.
As a result, USD/CAD is declining today...
Yesterday, the S&P 500 fell below the 4,440 level — the last time the price of the S&P 500 was this much was on July 12.
The following contributed to the decline in the stock market:
→ strong US retail sales data (actual: +0.7%, expected +0.4%, last month: +0.2%). Market participants fear that interest rates may remain high for longer;
→ information that Fitch...
The Chaikin Oscillator is a powerful momentum indicator that can help traders uncover hidden trading opportunities and spot emerging trends. In this article, we’ll delve into its inner workings, explore how to interpret its signals and show you how it can be applied.
What Is the Chaikin Oscillator?
The Chaikin Oscillator, developed by Marc Chaikin, is a...
USD/CHF is rising and might aim a move toward the 0.8850 resistance.
Important Takeaways for USD/CHF Analysis Today
· USD/CHF is gaining pace above the 0.8745 resistance zone.
· There is a key bullish trend line forming with support near 0.8760 on the hourly chart at FXOpen.
USD/CHF Technical Analysis
On the hourly chart of USD/CHF at FXOpen, the pair...
EUR/USD started a fresh decline below the 1.0000 support.
Important Takeaways for EUR/USD Analysis Today
· The Euro struggled to clear the 1.1040 resistance against the US Dollar.
· There is a major bearish trend line forming with resistance near 1.0920 on the hourly chart of EUR/USD at FXOpen.
EUR/USD Technical Analysis
On the hourly chart of EUR/USD at...
Shares of Nvidia are the main newsmakers of the stock market at the beginning of this week. As the chart shows, NVDA opened at USD 403.45 per share on Monday and is trading above USD 440 (over +9%) in premarket Tuesday.
The reasons for this are as follows:
→ analysts at Morgan Stanley confirmed their bullish outlook on the stock;
→ positive expectations from...
On Tuesday morning data from the UK market were published:
→ base wage rose at a record pace in the second quarter. It was 7.8% higher than a year earlier, representing the highest annual growth rate since 2001.
→ at the same time, the number of unemployed also increased. In July, 29k applications for unemployment benefits were submitted (expected - 19.2).
The...
Rate of Change Indicator: Analysing Price Momentum with Precision
With so many complex indicators to choose from, sometimes it’s best to stick with the basics. One simple yet effective momentum oscillator is the Rate of Change indicator. In this article, we take a deep dive into how this indicator works, what signals it offers, and its potential drawbacks.
...
The uptrend in 2023 is due to the difference in the monetary policy of the Bank of Japan and the US Federal Reserve. As the chart shows, USD/JPY hit 145.22 yen per US dollar today. The last time such a rate was relevant was in November 2022 after foreign exchange interventions (marked with arrows).
Since the USD/JPY rate has again reached the level of 145 yen per...
USD/CAD is rising and might gain pace above the 1.3500 resistance zone.
Important Takeaways for USD/CAD Analysis Today
· USD/CAD is rising steadily from the 1.3400 support zone.
· There is a major bullish trend line forming with support near 1.3450 on the hourly chart at FXOpen.
USD/CAD Technical Analysis
On the hourly chart of USD/CAD at FXOpen, the pair...
GBP/USD is showing bearish signs below 1.2700.
Important Takeaways for GBP/USD Analysis Today
· The British Pound started a fresh decline from the 1.2800 resistance zone.
· There is a key bearish trend line forming with resistance near 1.2700 on the hourly chart of GBP/USD at FXOpen.
GBP/USD Technical Analysis
On the hourly chart of GBP/USD at FXOpen, the...
On Wednesday, August 2, the planned halving took place in the Litecoin network. Now the reward of miners for each mined block has decreased by 2 times from 12.5 LTC to 6.25 LTC. Theoretically, this should make the cryptocurrency more scarce.
On the eve of the halving, experts were bullish. Thus, financier David Cox voiced a forecast about a possible increase in...
Yesterday, fresh values of the CPI index were published, which testified to a moderate slowdown in inflation in the US. The actual value was 3.2% in annual terms (expected 3.3%, a month earlier = 3.0%, a year earlier = 9.1%).
In reaction to the news, the price of gold fell from a daily high around USD 1,930 an ounce to renew the August low. Such behavior can be...
How to Use the Fisher Transform Indicator
Navigating the ever-changing landscape of financial markets can be a daunting task, even for seasoned traders. However, there are tools that can help. One such example is the Fisher Transform indicator, a tool known for its ability to predict trend reversals. In this article, we’ll explore how the Fisher Transform works,...
NZD/USD is gaining bearish momentum below the 0.6030 support zone.
Important Takeaways for NZD/USD Analysis Today
· NZD/USD declined heavily from the 0.6120 resistance zone.
· There was a break below a major rising channel with support near 0.6060 on the hourly chart of NZD/USD at FXOpen.
NZD/USD Technical Analysis
On the hourly chart of NZD/USD on...
AUD/USD declined below the 0.6560 and 0.6540 support levels.
Important Takeaways for AUD/USD Analysis Today
· The Aussie Dollar started a fresh decline from well above the 0.6600 level against the US Dollar.
· There was a break below a key bullish trend line with support near 0.6540 on the hourly chart of AUD/USD at FXOpen.
AUD/USD Technical Analysis
On...
Yen Weakening Drivers:
→ rising prices for energy resources. After all, Japan is a major importer.
→ The inflation index CGPI (corporate goods price index) indicates a slowdown in inflation. Therefore, this raises the likelihood that the Bank of Japan will maintain an ultra-loose monetary policy.
The growth of the euro against the yen is facilitated by the fact...
The hostilities in Ukraine have drastically changed the world's natural gas transportation routes, and yesterday's information about possible interruptions in the supply of liquefied gas from Australia due to the planned strikes of workers led to the fact that the XNG/USD quote jumped above the psychological level of USD 3.0.
Citigroup analysts believe that gas...
