Day: March 11, 2022
Forward Guidance: Gasoline Price Surge to Push Inflation Rates Higher
Canada’s CPI report for February is expected to show a firm 5.4% year-over-year increase. It will likely rise closer to 6% in March on the back of surging pump prices. In the first week of March alone, gas prices soared 16%—to 46% above year ago levels—as the Russian invasion of Ukraine sent global oil prices …
Forward Guidance: Gasoline Price Surge to Push Inflation Rates HigherRead More
USDCHF Ascends Above Cloud, Moves Beyond 0.93 Mark
USDCHF has climbed above the 0.9300 handle, extending the latest surge in upward forces, and is now eyeing the 0.9355-0.9377 resistance barrier, which includes the September and November 2021 highs. The minor upturn in the simple moving averages (SMAs) confirm no clear trend in the pair but do imply the positive impetus is growing. The …
WTI Oil on Track for Strong Weekly Drop on Improved Sentiment
WTI oil price edged higher on Friday but remains below $110 per barrel for now, after falling sharply in past two days on optimism of de-escalation of the conflict in Ukraine and easing concerns about stronger disruption of global oil supply. Oil prices surged to the highest since 2008 earlier this week after the US …
WTI Oil on Track for Strong Weekly Drop on Improved SentimentRead More
Canadian Dollar Shot Up by All-Round Strong Job Report, Yen Weakness Continues
Canadian Dollar surges sharply after employment data blows past expectations. Sterling and Euro are firm slightly firmer but there is no clear upside momentum. On the other hand, selloff in Yen is still persisting. Dollar is mixed for now. In other markets, Gold is extending the pull back and it’s threatening 1960 minor support. WTI …
Canadian Dollar Shot Up by All-Round Strong Job Report, Yen Weakness ContinuesRead More
USD/JPY Outlook: The Pair Could Extend to 2017 High in Dollar-Positive Environment
The USDJPY accelerated strongly higher on Friday (up around 0.7% in Asia/Europe), extending steep rally into fifth straight day. Strong US inflation data (Feb CPI soared to the highest since 1982) fuel expectations for Fed rate hike in the next week’s policy meeting (0.25% hike is widely expected, but some bet for 0.5% increase) and …
USD/JPY Outlook: The Pair Could Extend to 2017 High in Dollar-Positive EnvironmentRead More
EUR/USD Consolidating Near 1.1010
The Euro started a decent recovery wave above 1.0920 against the US Dollar. The EUR/USD pair traded above the 1.1050 resistance level and the 50 hourly simple moving average. However, it failed to clear the 1.1120 resistance and started a fresh decline. There was a break below a key bullish trend line with support near …
GBPUSD marks yet more lower lows as bearish forces linger
GBPUSD continues its downward trend, reaching levels last seen back in November 2020 as negative momentum persists. Moreover, the pair continues to record successive higher lows and lower highs, reflecting an overall bearish outlook. Short-term momentum oscillators indicate a negative bias too, as the RSI is steady above its 30 oversold region. Also, the MACD …
GBPUSD marks yet more lower lows as bearish forces lingerRead More
Yen Under Pressure on Rate Outlook and Rising Yield, USD/JPY Breakout
Yen is under some broad based pressure in Asia session despite some mild risk aversion sentiment. BoJ is clear to lag behind other major central bank in raising interest rates, due to the still underperforming inflation. Rally in global treasury yields is also weighing on the Japanese currency. Euro is maintaining this week’s recovery, but …
Yen Under Pressure on Rate Outlook and Rising Yield, USD/JPY BreakoutRead More
Crude Oil Price Reverse Gains And Faces Resistance
Key Highlights Crude oil price surged to $131 before there was a sharp decline. It broke a major bullish trend line at $118.50 on the 4-hours chart. EUR/USD corrected losses and climbed above 1.1020. Gold price stayed above the $1,975 support zone. Crude Oil Price Technical Analysis In the past few days, crude oil price …
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