Week Ahead – With the Central Bank Mayhem Out of the Day, the Festive Wind Down Begins
After a super exciting week, things will wind down significantly in the run up to the Christmas weekend, with the biggest risk for traders likely being suffering from post-central bank blues. Out of all the meetings, the Fed’s announcement undoubtedly...
Yen Rises as Investors Back in Risk Averse Mode
Investors are back in risk-off mode after a week of volatility. Yen is rising broadly, followed by Swiss Franc and Dollar. On the other hand, commodity currencies are back under some pressure. Euro and Sterling are both mixed. The question...
Japanese Yen Calm after BoJ Meeting
The Japanese yen is showing little movement on Friday. In the European session, USD/JPY is trading at 113.44, down 0.13% on the day. It was a dramatic week, with central banks in the spotlight. There were significant announcements on both...
NZDUSD Tiptoes Across 76.4% Fibonacci But Downside Risks Remain
NZDUSD has established a foothold consolidating around the 0.6734 level, which is the 76.4% Fibonacci retracement of the up leg from 0.6510 until 0.7464, after a five-week decline from the 0.7217 high. The simple moving averages (SMAs) are starting to...
USDCAD Halts Pullback, But Bearish Jitters Still In Play
USDCAD attempted to touch its nine-month high of 1.2947 from August earlier this week, but its efforts proved fruitless, with the price drifting lower to find support around the 1.2770 level and the red Tenkan-sen line. Signals from momentum indicators...
EUR/USD Outlook: Euro Is Firmer But Still Moving Within Extended Range
The Euro is consolidating under two-week high after being dragged by stronger pound after BoE surprise rate hike and inflated by weaker dollar post-Fed. Near-term action remains within a consolidation range above new 2021 low (1.1186) and lacking clearer direction...
GBP/USD Outlook: Upbeat UK Retail Sales Data Add To Positive Post-BoE Tone
Cable is holding positive tone in early Friday following Thursday’s rally to 1.3374 (three-week high) after surprise BoE rate hike. Upbeat UK retail sales data (Nov 1.4% m/m from 1.1% in Oct and vs 0.8% f/c) provide additional support to...
USD/CAD Trades Sideways
The decline of the USD/CAD appears to have ended, as the rate has been trading sideways in a set range since the middle of Thursday’s trading hours. Namely, the pair is trading between the support of the 1.2765 level and...
GBP/JPY Breaks Pattern And Books New High
The Bank of England unexpectedly hiked interest rates on Thursday at 12:00 GMT. However, prior to the hike and surge that was caused by it, the rate broke the upper trend line of the channel down pattern, which has guided...
AUD/USD Declines From New High
On Thursday, the AUD/USD currency pair booked a new December high level at 0.7224. The rate bounced off this level and started a decline. By the start of Friday’s European trading hours, the rate had reached the 0.7160 level. During...