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Forex
FX Analysis – AUD, NZD drop on China data ,USD up, JPY underperforms, EUR whipsaws
USD saw gains on Thursday with the US Dollar index (DXY) pushing above 104 before again finding resistance at the 100-day SMA. A rise in UST yields after a better than expected jobless claims figures. In data ahead Dollar traders will be focussing on the US CPI revisions. EUR was mostly flat vs the Dollar with EURUSD trading down to 1.0750 b...
February 9, 2024Read More >FX Analysis – USD drifts lower, AUD outperforms after RBA, Gold and JPY push higher
USD drifted lower in Tuesday’s session, the US dollar index retracing a good chunk of Mondays gains. Regional bank fears were at the fore, with NYCB continuing its steep decline in an otherwise quiet session news wise. This saw the haven of bonds bid, sending yields lower and dragging the USD down with them. DXY dipping back below its 100 Day SMA...
February 7, 2024Read More >FX analysis – AUD dips ahead of RBA, USD follows yields higher on Hawkish Powell, Gold hits 1-week lows
USD was bid in Mondays session with the US Dollar Index following US treasury yields higher after hawkish comments from Fed Chair Powell over the weekend where he pushed back on market pricing of rate cuts starting in March. A beat in the ISM Services PMI data also supporting DXY as rate cut odds in March dropped down to around 17% from the 35% cha...
February 6, 2024Read More >FX analysis – USD pops on FOMC, Cool CPI hits AUD, Yields support JPY
USD started the session weaker with the US dollar index (DXY) hitting a low of 102.94, as it was weighed on by dovish economic data, with misses in ADP employment and Employment Cost Index. This turned around dramatically after what was seen as a hawkish result out of the FOMC where the Fed left rates unchanged as expected but pushed back on the ma...
February 1, 2024Read More >FX analysis – USD , EUR, AUD, JPY
USD was flat on Tuesday with the US dollar index (DXY) trading either side of the 200-day SMA and 50% Fib level at 103.50. FX traders turning their attention to the pivotal FOMC rate decision on Wednesday followed by the non-farm employment report on Friday. A better than expected JOLTS job opening report lending some support early in the session t...
January 31, 2024Read More >The Week Ahead – Volatility set to return with FOMC, BoE and NFP ahead
FX traders have a bumper week of major economic announcements to navigate, with markets in a holding pattern awaiting the pivotal January Federal Reserve meeting, adding to that a Bank of England policy meeting, CPI readings out of Australia and Europe topped off by the US non-farm employment report. The Charts to Watch: AUDUSD – Aussie CPI...
January 29, 2024Read More >FX Analysis – Hot PMIs support EUR and GBP, BoC disappoints CAD bulls
USD was ultimately lower on Wednesday after a rollercoaster of a session. Broad risk-on sentiment early on saw the Dollar Index (DXY) plummet to hit a low of 102.77 until strong S&P Global Flash PMIs coupled with souring risk sentiment after a dismal US 5yr auction saw a sharp turn-around. DXY retaking the 103 handle at session end, with the 50...
January 25, 2024Read More >FX analysis – JPY , AUD, NZD, CAD, USD
USD tracked higher with yields in Tuesday’s session with the Dollar Index (DXY) hitting a high of 103.820, setting a new YTD high and breaking through the key technical levels of the 200-day SMA as well as a 50% Fib resistance level. DXY saw initial weakness in the European morning which emanated from APAC hours amid a firmer post-BoJ Yen but rev...
January 24, 2024Read More >FX Analysis – DXY flat, JPY rangebound ahead of BoJ, AUD NZD underperform on China woes
USD was flat in Monday’s session with DXY trading in a tight range from 103.110-103. 370 amid a light economic calendar ahead of the major risk events from Tuesday onwards. DXY still capped to the upside by the 50% Fib level resistance as traders look to be waiting for rate decisions from the BoJ, BoC and ECB before taking a USD view. AUD,...
January 23, 2024Read More >The Week Ahead – BoJ, ECB, BoC meetings headline – the charts to watch.
Markets enter the new week with risk-on firmly the narrative with all three major US indexes hitting all-time highs last week. In FX markets, the positive market sentiment has seen the march higher in the US Dollar hit resistance and cyclical currencies AUD, NZD and GBP bounce. Ahead this week, traders have a slew of risk events to navigate with...
January 22, 2024Read More >FX Analysis – USD and GBP up on hot data, JPY and AUD under pressure
A hotter than expected CPI reading out of the UK along with a beat in US retail sales saw global markets turn risk off as rates markets hawkishly re-priced chances of cuts coming from Central Banks. The unwinding of priced in Fed cuts saw a spike in treasury yields and the USD bid, with DXY hitting a high of 103.69 after the December US retail s...
January 18, 2024Read More >The Week Ahead – Jobs, CPI and Retail Sales – the Charts to watch
FX traders come into the new week with an uptick in tier one economic releases to look forward to after a very slow start to the year volatility-wise. Australian and US employment figures, UK CPI and US retail sales look to headline from Tuesday onwards (Monday is a US public holiday) The Charts to watch: AUDUSD AUDUSD has struggled to fin...
January 15, 2024Read More >Market Analysis – Hot CPI whipsaws markets – USD, Gold, JPY, AUD
USD was ultimately flat in a choppy session on Thursday after hotter-than-expected US CPI data. The US Dollar Index (DXY) hitting briefly breeching the resistance at 102.63 to hit a high of 102.76. This proved to be another false breakout of this level with DXY gradually retracing for the rest of the session to unchanged levels. JPY outperfo...
January 12, 2024Read More >FX Analysis – GBP, EUR JPY, USD
USD saw weakness in Wednesday’s session with a risk on equity market and only a marginal move higher in yields weighing on the Greenback ahead of today’s key US CPI report. There was little in the way of major US data releases but some hawkish leaning comments late in the session from the Fed’s Williams stemmed losses. The US Dollar Index (DX...
January 11, 2024Read More >Market Analysis – Gold tests key level, AUD dips ahead of CPI, Oil bounces
Global markets chopped about in Tuesday’s session with no key data released with traders seemingly waiting on the sidelines for US CPI and a slew of bank earnings later in the week. Gold – XAUUSD XAUUSD rallied in Tuesdays APAC session testing the 2040 USD an ounce resistance level before a sharp drop as Europe opened saw drop to a low of...
January 10, 2024Read More >
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