Dollar Holding On to Near Term Support, UK and CA CPI Featured
The forex markets are engaging in sideway trading in very tight range in Asian session. Dollar and Yen remain the weaker ones for the week. But so far, there is not following selling to push them through near term support...
ECB Members Turning More Hawkish. But Do Markets Believe Them?
Governing Council member of the ECB Klaas Knot said that the ECB should raise interest rates in July by 25bps, but a 50bps hike should not be excluded if data suggest that inflation is rising. Money markets immediately jumped to...
Powell says the Fed will not hesitate to keep raising rates until inflation comes down
Jerome Powell, chairman of the U.S. Federal Reserve, arrives for a Senate Banking Committee hearing in Washington, D.C., on Thursday, July 15, 2021. Al Drago | Bloomberg | Getty Images Federal Reserve Chair Jerome Powell emphasized his resolve to get...
Natural Gas Wave Analysis
Natural gas reversed from support level 6.500 Likely to rise to 9.000 Natural gas recently reversed up from the strong support level 6.500, coinciding with the 20-day moving average and the 50% Fibonacci correction of the upward impulse wave (3)...
British Pound Soars on Strong Jobs Data
The British pound continues to rally on Tuesday. GBP/USD is trading at 1.2463 in the European session, up 1.15% on the day. UK employment numbers sparkle The tight UK labor market is getting even tighter, as reflected in the March...
Euro and Sterling Rebound Strongly, Dollar and Yen Turn Weaker
Yen and Dollar falls broadly today as risk-on sentiment is gaining steam. European majors are making a strong come back too. Sterling is boosted by upbeat job market data. Euro is also lifted after a ECB policymaker threw out the...
USD/JPY: Price Rally Stalls at 131.35
After a parabolic rise, USD/JPY registered its first weekly loss on Friday, providing traders the first opportunity to question whether this marks the end to the yen’s misfortune this year. Considering the prevailing uncertainty in financial markets, traders would be...
Euro Recovers in Overall Consolidative Markets
The financial markets are generally quiet today. Major European indexes are mixed while US futures are treading water. Gold is still trying to defend 1800 handle, despite dipping earlier. Silver is also recovering ahead of 20 handle. Bitcoin and Ethereum...
Crude Oil Remains Imbalanced
Another week of May brings a new decline in Oil. Brent is retreating and hanging around $109.50. A season of active car travel is starting in the US. In this light, demand for gasoline, which is getting more and more...
Weekly COT Report: Metals Continue to Get Hammered
The strong dollar and lockdowns in China have continued to see traders take a bearish stance on metals over the past four weeks. As of Tuesday the 10th of May: Large speculators flipped to net-long exposure on euro futures Traders...