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Two Trades To Watch: DAX, GBP/USD Forecast – Friday, March 8
Image Source: Unsplash DAX hovers at all-time highs post-ECB ECB lowered inflation & growth forecasts ECB President Lagarde hinted to a June rate cut EZ GDP & US NFP data due DAX rose to an all-time high The DAX is hovering around all-time highs in quiet trade as investors continue to digest the ECB interest rate […]
EUR/JPY Price Analysis: The Next Downside Target Is Located At 161.10
The EUR/JPY cross remains under some selling pressure below the 162.00 psychological barrier during the early European session on Friday. The growing speculation that the Bank of Japan (BoJ) could remove negative interest rates this month lifts the Japanese Yen (JPY) against the Euro (EUR). At press time, EUR/JPY is trading at 161.85, down 0.16% on the […]
A Century Of Movement Toward Central Bank Independence
Image Source: Pixabay There has been a controversy in recent decades about the independence of central banks from the rest of the government. The ongoing concern–especially have high inflation rates rocked the US and other countries around the world in the 1970s and 1980s–was that governments have a bias toward inflation. Politicians want the central bank […]
EUR/USD Outlook: Dollar Declines As US Jobs Data Looms
The EUR/USD outlook appears strongly bullish, spurred by the recent downturn in the dollar ahead of the eagerly awaited nonfarm payrolls report. Notably, the dollar extended declines, building on the momentum from the previous session as investors gained confidence in the likelihood of a Fed rate cut later this year. On Thursday, Powell was more confident […]
The Commodities Feed: China Buys More Gold In February
Image Source: Pixabay China’s central bank added gold to its reserves for a sixteenth straight month in February as reserve diversification and geopolitical concerns pushed central banks to increase their allocation toward safe assets. We believe this is likely to continue this year. Metals: China buys more goldLast month, China’s central bank added gold to its reserves for a sixteenth […]
EURUSD And GBPUSD: EURUSD Slips To Support At 1.09300 Level
EURUSD chart analysisYesterday, we saw EURUSD pull back to the 1.08677 support level, after which the pair started a bullish consolidation and recovered to 1.09558 levels. We paused there but remained high in the Asian session above the 1.09450 level. At the start of the EU session, the euro began to weaken, and thus, the […]
US Dollar Commentary – Friday, March 8
Image Source: Pixabay NFP in focusAll eyes are on the US Dollar today as traders get ready for the release of February jobs data. On the back of a string of bumper labor reports over recent months, the market is expecting a cooler set of readings today, particularly following a softer-than-forecast ADP number earlier in the […]
Gold Is Breaking All Records
Last week, gold in dollars set a new all-time closing record, also surpassing its previous all-time high during the session: Will gold finally break away from its major consolidation phase?Is the bullish cup/handle pattern seen since 2013 paving the way for a new leg up in dollars?If so, we could be on the verge of a gold […]
Daily Market Outlook – Friday, March 8
Image Source: Pixabay This morning, Asian equity markets are experiencing an increase after significant gains in US markets yesterday, driven by comments from US Federal Reserve Chair Powell during his testimony to Congress. Powell suggested that the Fed is still likely to cut US interest rates this year and that they are close to having enough […]
FX Daily: US Payrolls Even More Key After Positioning Shifts
Image Source: Unsplash The dollar has had a bad week even though rates did not move too aggressively against it: we think positioning readjustments have exacerbated the USD decline. Today’s payrolls are even more important given Fed Chair Jerome Powell’s dovishly-perceived testimony. We are in line with consensus (200k), but many surveys point to a softer […]
