The USDJPY has experienced a depreciation of over 9% against the yen in the current year. Last Friday, the Japanese currency hit a low of 145.07 per dollar in early Asia trade, the lowest it had been in over seven months. However, it stabilized at 144.30 later on Friday following statements from Finance Minister Shunichi Suzuki. Suzuki emphasized that Japan would...
The Pound Sterling experienced a notable rise of 2.16% to reach 1.27 during the month of June. Despite the relatively weak first-quarter gross domestic product growth of just 0.1%, the sterling showed potential for a continuation of its upward trend. Interestingly, traders have been factoring in additional rate hikes from the Bank of England due to the country's...
A panel discussion took place in Sinatra on Wednesday, hosted by the European Central Bank and attended by the heads of the Federal Reserve, Bank of England, and Bank of Japan. The discussion revealed that nearly all participants agreed on the need for higher interest rates to curb higher-than-expected inflation. Following the panel discussion, Fed Chair Powell...
This video provides a comprehensive analysis of the bullish and bearish sentiment in GBPUSD, focusing on price action-based technical analysis of support and resistance levels within the 4-hour timeframe. In the previous week, Federal Reserve Chair Jerome Powell emphasizes the necessity for further rate hikes, and adding to the market volatility, the Bank of...
Despite the less-than-ideal macroeconomic conditions, the gold bull is still putting up a fight. The recent comments made by Powell regarding potential rate hikes have pushed gold to its lowest point in three months. During his semi-annual testimony on the economy, Powell hinted at the likelihood of more rate increases in the coming months, even though the Fed...
Despite three production cuts announced by the Organization of the Petroleum Exporting Countries (OPEC) and its allies since October, including support from the Saudis, crude prices have shown limited improvement. This is unexpected, particularly during a time of the year when oil demand should naturally be strong due to summer travel. The Saudis have expressed...
The Japanese yen experienced a slight decline as the Bank of Japan maintained its ultra-loose policy. However, it managed to recover some of its early losses following the BOJ decision, though it remained close to seven-month lows against the dollar. The BOJ opted to keep interest rates unchanged at record lows and expressed its intention to continue the yield...
Join us as we delve into a comprehensive price action analysis of the XAUUSD market in this video. With the gold price comfortably surpassing the $1,950.00 mark and the USD Index remaining weak, we examine the current market conditions. Investors are divided on whether the Fed will implement two more rate hikes this year, putting pressure on the USD Index....
The USOILSPOT market witnessed a remarkable surge in momentum last week, fueled by positive economic data from the Chinese government. As a result, USOILSPOT closed around the $72.00 zone, allowing us to secure over 500 pips in profit through multiple entries. The rise in oil prices was primarily driven by increased Chinese demand and supply cuts from OPEC+....
The GBPUSD surged to a new annual high of 1.2850 as Bank of England (BoE) policymakers prepare for a potential interest rate hike. Meanwhile, the U.S. Federal Reserve (Fed) decided to hold off on an interest rate increase, indicating that the tightening phase is still ongoing. The Pound Sterling remains optimistic as discussions about a pause in the BoE's...
In this video, we delve into a comprehensive technical analysis of USDJPY. We examine the impact of recent fundamental factors, including a surge in US unemployment claims, which led to a sell-off in the US Dollar. The upcoming week is set to witness crucial economic events that will strongly influence the price movements of this currency pair. With indications...
During the latter part of the previous week, the GBPUSD price action continued its upward movement as the US Dollar faced obstacles following a less confident recovery. The release of data on Thursday, which showed a surge in the number of Americans filing new claims for unemployment benefits to the highest level in over 1½ years, prompted investors to sell off...
The USDCAD has recently exhibited a trading pattern known as the internal structural reverse. This pattern serves as a robust indication of trend continuation following the completion of a wavestructure. The concept involves trading in the opposite direction when a second break of a structure fails to sustain the prevailing trend. Enjoy!
Gold tumbles from the previous session’s record high of above $2,080 to clings at the key level at $2,000 as data from the US Labor Department on Friday suggests no pausing of rate hikes in June. As market participants settle down to digest the latest development in the market, close attention will be on the consumer price index data for April and May ahead of the...
GBPUSD price moved 0.45% higher hereby closing the previous week at the 1.26550 zone, hitting a new one-year high amidst the Bank of England battle with inflation. Consumer price inflation in the UK came in at 10.1% - five times the BOE’s mandate. The incoming week is laced with a handful of high-impact economic events from both the UK and US economic docket to...
Follwing the Bank of Japan’s policy meeting on Friday, the US Dollar moved a significant 1.74% against the Japanese Yen to settle above the 135.000 for the first time in six weeks. The risk-averse market atmosphere helped the Greenback find demand as a safe haven while hawkish Federal Reserve (Fed) bets provide an additional boost to the currency. The coming week...
Gold prices continue to trade below the 2,000 level for the second week straight hereby maintaining its choppy situation on the charts which has been attributed to the uncertainty over the path of interest rates decision by May 3rd; It is expected that events in the coming week should make things much clearer. Economists project that the Federal Reserve will agree...
British consumers remain affected by an elevated inflation rate, which stayed in double digits in March. Comments from a couple of Fed policymakers pointed to the US central bank raising interest rates by 25 basis points in early May, judging that inflation is still at problematic levels and monetary policy needs to be tightened. The market's immediate reaction to...