- Trading
- Trading
- Markets
- Markets
- Products
- Forex
- Commodities
- Metals
- Indices
- Shares
- Cryptocurrencies
- Treasuries
- ETFs
- Accounts
- Accounts
- Compare our accounts
- Open account
- Try free demo
- GO Markets Social
- Platforms & tools
- Platforms & tools
- Platforms
- Platforms
- Platforms overview
- MetaTrader 4
- MetaTrader 5
- Mobile trading platforms
- Premium trading tools
- Premium trading tools
- Tools overview
- VPS
- Genesis
- Education
- Education
- Resources
- Resources
- News & analysis
- Education hub
- Economic calendar
- Earnings announcements
- Help & support
- Help & support
- About
- About
- About GO Markets
- Our awards
- Sponsorships
- Client support
- Client support
- Contact us
- FAQs
- Quick support
- Holiday trading hours
- Maintenance Schedule
- Fraud and scam awareness
- Legal documents
- Trading
- Trading
- Markets
- Markets
- Products
- Forex
- Commodities
- Metals
- Indices
- Shares
- Cryptocurrencies
- Treasuries
- ETFs
- Accounts
- Accounts
- Compare our accounts
- Open account
- Try free demo
- GO Markets Social
- Platforms & tools
- Platforms & tools
- Platforms
- Platforms
- Platforms overview
- MetaTrader 4
- MetaTrader 5
- Mobile trading platforms
- Premium trading tools
- Premium trading tools
- Tools overview
- VPS
- Genesis
- Education
- Education
- Resources
- Resources
- News & analysis
- Education hub
- Economic calendar
- Earnings announcements
- Help & support
- Help & support
- About
- About
- About GO Markets
- Our awards
- Sponsorships
- Client support
- Client support
- Contact us
- FAQs
- Quick support
- Holiday trading hours
- Maintenance Schedule
- Fraud and scam awareness
- Legal documents
- Home
- News & Analysis
- Forex
- FX Analysis – USD whipsaws , AUDNZD hits new lows, Gold holds key support
- Home
- News & Analysis
- Forex
- FX Analysis – USD whipsaws , AUDNZD hits new lows, Gold holds key support
News & AnalysisNews & AnalysisFX Analysis – USD whipsaws , AUDNZD hits new lows, Gold holds key support
23 February 2024 By Lachlan MeakinUSD was ultimately flat in Thursdays session after a rollercoaster of a ride, DXY printed a low in the European session of 103.43 before rallying up to the 100 Day SMA at 104.10 after better than expected US Jobless claims. Flash PMIs for February were mixed with a fall in Services but a rise in Manufacturing, DXY heading into the APAC session just below the 104 level.
JPY was softer vs the Dollar with USDJPY holding above the psychological 150 level which has become a short term support level. Comments from BoJ Governor Ueda saying that Japan’s trend inflation is heightening and the BoJ will make appropriate monetary policy decisions, failing to offer much support for the Yen.
AUD and NZD – saw notable strength during the APAC and European session tracking higher with equities after the big beat in NVDA earnings. Both currencies came off highs though after USD rallied on strong jobless claims data. For the fifth straight session AUD again underperformed its Kiwi rival, seeing AUDNZD dropping well below 1.06, setting new lows for 2024 and not far off the lows of 2023.
Gold again tested the support at 2020 USD an ounce, and again held in a whipsawing session. Trading at around 2024 heading into the APAC session.
Ready to start trading?
Disclaimer: Articles are from GO Markets analysts and contributors and are based on their independent analysis or personal experiences. Views, opinions or trading styles expressed are their own, and should not be taken as either representative of or shared by GO Markets. Advice, if any, is of a ‘general’ nature and not based on your personal objectives, financial situation or needs. Consider how appropriate the advice, if any, is to your objectives, financial situation and needs, before acting on the advice. If the advice relates to acquiring a particular financial product, you should obtain and consider the Product Disclosure Statement (PDS) and Financial Services Guide (FSG) for that product before making any decisions.
Next Article
Li Auto stock surges as earnings arrive above estimates
Chinese electric vehicle company Li Auto Inc. (NASDAQ: LI) announced Q4 and 2023 fully-year results before the US market opened on Monday to kick off a new trading week. Li Auto achieved revenue of $5.878 billion (up by 136.4% from Q4 2022) vs. $5.599 billion expected. EPS was reported at $0.594 per share in Q4, above estimate of $0.446 per s...
February 27, 2024Read More >Previous Article
Intuit financial results are out
Business software company Intuit Inc. (NASDAQ: INTU) reported Q2 of fiscal 2024 earnings results after the market closed in the US on Thursday. The...
February 23, 2024Read More >