Day: January 5, 2022
Eurozone Inflation to Ease Slightly; Bad News for Euro?
The flash inflation estimates for December will hit the market on Friday at 10:00 GMT. The headline rate is anticipated to edge lower, but remain extremely elevated. Upcoming data are not expected to offer the much needed positive relief for the euro, which had its worst year against the US dollar since 2015, as the …
Eurozone Inflation to Ease Slightly; Bad News for Euro?Read More
USD/CAD Analysis: Reveals New Support Zone
At mid-day on Tuesday, the USD/CAD declined and confirmed the existence of a support zone at 1.2668/1.2677. Meanwhile, the pair appeared to be almost ignoring the 50-hour simple moving average, the weekly simple pivot point and the previous low and high-level zone at 1.2710/1.2730. A surge of the pair might find resistance in this week’s …
AUD/USD Analysis: Recovery Touches 0.7250 Level
On Tuesday, the rate conducted another decline to the September low and December high-level zone at 0.7170/0.7185, before starting a sharp recovery. By 16:00 GMT, the rate had already touched the 0.7250 level. The 0.7250 mark caused a minor decline, which found support in the weekly S1 simple pivot point at 0.7266. If the rate …
Dollar Shrugs Strong ADP Job Data, Markets Mixed
Markets turned mixed as traders await FOMC minutes. The much stronger than expected US private job data provides little inspiration to the markets. Dollar pares back some gains but remain the second strongest for the week next to Sterling. Yen is also recovering but remains the worst performing, followed by Canadian. Euro is mixed together …
USDJPY Looks Overbought after Sharp Ascent; Bullish Overall
USDJPY resumed its broad positive trend after the bulls drove aggressively to a five-year high of 116.33 on Tuesday, marking seven consecutive days of gains. Despite the fast ascent, the pair could not close above the 116.11 limitation taken from late 2016 and start of 2017, with the price sliding back to the negative territory during the …
USDJPY Looks Overbought after Sharp Ascent; Bullish OverallRead More
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