FX

EUR/USD remains on the defensive around 1.0615 in Wednesday’s early Asian session.  Fed’s Powell said it’s appropriate to allow restrictive policy to continue to work, given the strength of the labor market.  ECB’s Lagarde noted the central bank remains on course to cut rates in the near term, subject to any major shocks. The EUR/USD

Natural Gas prices show sensitivity towards the situation in the Middle East. Markets see sanctions being issued out of US and Europe on Iran.  The US Dollar Index pops back above 106.00 and is running into a winning streak.  Natural Gas (XNG/USD) prices are getting some support on Tuesday after Israel issued a harsh statement

Federal Reserve (Fed) Bank of San Francisco President Mary Daly crossed the wires in the last hour, saying that the progress on inflation has been significant, but we are still not there yet. Key Quotes: Recent inflation data was not surprising.Inflation bumps along the way aren’t particularly surprising.Don’t want to end up with a too-strong,

Retail Sales in the US grew at a stronger pace than expected in March US Dollar Index stays in positive territory above 106.00. Retail Sales in the US rose 0.7% in March to $709.6 billion, the US Census Bureau reported on Monday. This reading followed the 0.9% increase (revised from 0.6%) recorded in January and

AUD/USD stages a modest recovery from a two-month low touched on Friday. The uptick seems unaffected by the Iranian attack on Israel over the weekend. Reduced Fed rate cut bets favor the USD bulls and should cap gains for the pair. The AUSD/USD pair attracts some buyers on the first day of a new week

Gold reaches record $2,431, then pulls back amid stronger US Dollar and reduced inflation concerns. Geopolitical tensions between Iran-Israel spark market volatility, initially raising demand for safe havens. Fed officials’ comments boost the US Dollar, a headwind for Gold prices. Gold’s price fell during the North American session after refreshing all-time peaks during Friday’s session.

Silver pulls back sharply from its highest point since February 2021, suggesting the rally might be overextended. If it breaks below key supports at $28.28 and $28.00, further declines to $27.54 and $27.00 could occur. A recovery above $28.00 could reignite bullish sentiment, aiming for previous highs and resistances. Silver’s price tumbled on Friday’s session

Analysts at ABN Amro share an update to their Federal Reserve (Fed) policy outlook following the latest inflation data. Total of three 25bp cuts expected in 2024 “We now expect the Fed to start cutting rates in July (previously June), with a pause in September, and a total of three 25bp cuts expected in 2024

The UoM Sentiment Index slipped to 77.9, indicating a weakening in US consumer confidence. The US Dollar seems to consolidate weekly gains following hot inflation data. The Greenback will close a 1.60% winning week. The USD/JPY pair, currently trading at 152.95 with a modest loss of 0.17%. Despite a drop in consumer confidence in the

The US Dollar locks in gains for this Friday and this week, trading at the strongest level since early-November.   Traders are pushing the Greenback higher while markets are diving the forex markets in two camps with weaker-for-longer and stronger-for-longer currencies The US Dollar Index rallies towards 106.00. The US Dollar (USD) carries on to strengthen

Japanese Finance Minister Shunichi Suzuki offered some verbal intervention on Friday. Suzuki said that a weak Japanese Yen (JPY) could push up import prices and have a negative impact on consumers and firms. Suzuki added that he will closely watch foreign exchange (FX) moves with a high sense of urgency.  Key quotes “Weak yen has

The US Dollar trades in the green across the board on Thursday’s European session.  Traders brace for further US data and ECB monetary policy decision as well.  The US Dollar Index consolidates above 105.00 and could set sail for 106.00. The US Dollar (USD) adds to gains on Thursday after having a field day on Wednesday,

USD/JPY trades softer to 153.00 after reaching the July 1990 tops on Thursday.  The US CPI inflation rose more than expected in March, triggering the Fed to delay rate cuts this year.  The potential FX intervention from the BoJ might provide some support to the JPY.  The USD/JPY pair trades on a weaker note near

The US Consumer Price Index is set to rise 3.4% YoY in March, following the 3.2% increase in February. Annual core CPI inflation is expected to edge lower to 3.7% YoY in March. The inflation report could impact the market pricing of the June rate cut probability. The high-impact US Consumer Price Index (CPI) inflation

The Reserve Bank of New Zealand is set to hold the interest rate at 5.50% on Wednesday. The language in the policy statement will offer cues on the RBNZ interest rate outlook. The New Zealand Dollar braces for a big reaction to the RBNZ policy announcements. The Reserve Bank of New Zealand (RBNZ) is widely

USD/JPY rises up to within a hair’s breadth of 152.00 after comments from BoJ governor Ueda.  His views suggest the BoJ is not in a hurry to raise interest rates, reducing the attractiveness of the Yen. Analysts are bullish USD/JPY despite the threat of intervention as US-Japan interest rates continue to diverge.  USD/JPY is edging

EUR/USD trades in positive territory near 1.0860 on the weaker USD on Tuesday.  The US March CPI data on Wednesday could provide some hints about inflation trajectory and rate cut expectations.  The ECB is anticipated to keep its Main Refinancing Operations Rate unchanged at 4.5% at its April meeting on Thursday.  The EUR/USD pair posts

In this technical blog we’re going to take a quick look at the Elliott Wave charts of XLI ETF, published in members area of the website. As our members know XLI is showing impulsive bullish structure in the cycle from the 109.9 and we have been favoring the long side of the ETF. Recently, we experienced a