USD/JPY Approaches Key Support Ahead of US NFP
Key Highlights USD/JPY started a fresh decline from the 125.00 resistance zone. It traded below a major bullish trend line with support near 122.30 on the 4-hours chart. Crude oil price is struggling to gain pace above $108 and $110....
US Core PCE Continues to Rise; Puts More Pressure on Fed
It’s not a secret that inflation has been high in the US. US CPI and Core CPI has been on the rise for months. Today, the US released what is considered to be the Fed’s favorite measure of inflation for...
Healthy Jobs and Income US Data Helps USD, But Not S&P500
American households increased spending by 0.2% in February, compared with a 0.5% rise in income. But this data only looks optimistic at first glance. Americans saved 6.3% of disposable income compared to 6.1% in January. In other words, we are...
AUDJPY Retreats from 6½-Year High; Upside Risks Linger
AUDJPY’s latest pullback from the fresh multi-year peak is resting on the red Tenkan-sen line around the 91.00 price level, which is the 23.6% Fibonacci retracement of the up leg from 80.35 until the more than 6½-year high of 94.30....
As the pandemic enters its 3rd year, more Chinese people say they’d rather save than spend
While mainland China faced its worst wave of Covid-19 since the initial shock of the pandemic, a central bank survey found more Chinese wanted to save money than spend or invest it. Costfoto | Future Publishing | Getty Images BEIJING...
Will an Inverted Yield Curve Spell Impending Doom?
Much has been made of the fact we’ve seen 10yr US Treasury yields trade at a discount to 2yr yields. What’s commonly known as curve ‘inversion’? I’m not sure this is going surprise too many as most bond traders had...
NZDCAD Wave Analysis
NZDCAD reversed from support level 0.8615 Likely to rise to resistance level 0.8775 NZDCAD recently reversed up with the daily Piercing Line from the key support level 0.8615 (which has been reversing the price from the start of March). The...
Dollar Soft Despite Solid ADP Job Data, Euro Follow Through Momentum
Dollar is trading as the worst performing for the day, and receive no support from solid ADP private job data. The greenback is somewhat weighed down by extended retreat in benchmark US yields. On the other hand, Euro is supported...
Yen Recovering, Euro Firm, Dollar and Sterling Struggle
It feels like the markets are turning a corner. Euro staged a strong rebound overnight on hope of cease-fire in Ukraine. Focus has then turned to Yen today, which is staging a notable recovery in Asia. On the other hand,...
Gold Price Struggle Ahead of US GDP Release
Key Highlights Gold price started a fresh decline from the $1,965 zone. A key bearish trend line is forming with resistance near $1,920 on the 4-hours chart. EUR/USD attempted a recovery wave from 1.0950, and GBP/USD is still above 1.3050....