Day: February 9, 2022
US Dollar Index: Dollar Eyes US Inflation Data
The dollar index edges lower on Wednesday after rebound on better than expected US NFP showed signs of stall. Repeated failure to clear initial Fibo resistance at 95.66 (23.6% of 97.42/95.12 bear-leg) weakened near-term structure, as daily MA’s (10/20/55) remain in negative setup and 14-d momentum stays in the negative territory. The action, however, remains …
Why UK’s Q4 GDP Growth Data May Not Help the Pound
The UK will publish its final quarterly GDP growth readings for 2021 on Friday at 09:30 GMT. The outcome may not impress investors as forecasts imply the economy almost flatlined at the end of the year, growing more or less at the same pace as in the previous quarter. Perhaps, the data could be considered …
AUD/USD Outlook: Risk Appetite Lifts Aussie to Two-Week High
The Australian dollar extends advance into third straight day, lifted by fresh risk appetite that lifted stocks and reopening of Australia’s borders. Bulls broke above last week’s high (0.7168) and pressure pivotal barriers at 0.7181/83 (Fibo 61.8% of 0.7314/0.6967 / base of thick daily cloud), break of which would open way for further advance and …
AUD/USD Outlook: Risk Appetite Lifts Aussie to Two-Week HighRead More
Aussie Rises on Risk-on Sentiment, Dollar Soft Despite Rising Yields
Australian Dollar rises further again with help from risk-on sentiments in the US and Asia. On the other hand, Dollar turns soft despite rising treasury yields. Canadian Dollar is dragged down slightly by oil prices. Other parts of the forex markets are mixed. Euro is still in consolidation against, and cautious comments from ECB officials …
Aussie Rises on Risk-on Sentiment, Dollar Soft Despite Rising YieldsRead More
Gold Climbs above the MAs and the Ichimoku Cloud
Gold recently breached the 1,800 handle and has extended beyond the simple moving averages (SMAs) and the Ichimoku cloud. Although the longer-term averages are endorsing a more neutral trend, the upturn of the 50-period SMA, is suggesting upside momentum is gaining the upper hand. The short-term oscillators are indicating a positive preference in the price. …
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