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Archives by Year:
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 […]
USD/JPY Recovers To Near 147.90 Ahead Of US Employment Figures
Image Source: Pixabay USD/JPY recovers intraday losses ahead of US employment data on Friday. US Dollar gains ground on market sentiment around Fed rate cuts in June. US Nonfarm Payrolls could fall to 200K new jobs in February, lower than the previous figure of 353K. USD/JPY trims some of its intraday losses on Friday on […]
AVGO: Where’s The AI Boom?
Broadcom (AVGO) – sometimes called “the poor man’s Nvidia” – has surged along with Nvidia in anticipation of big demand for its chips for AI. But – unlike Nvidia – it simply isn’t showing up in AVGO’s numbers. Overall revenue surged 34% in the quarter they announced after the close Thursday but that’s mostly because […]
Gold Price Forecast: XAU/USD Extends The Rally Above $2,160, Investors Await US NFP Data
Image Source: Unsplash Gold price gains momentum around $2,165 amid the softer US Dollar, adding 0.12% on the day. The dovish comments from central bank policymakers and safe-haven flows boost the demand for gold. Gold traders await the Eurozone GDP Q4 growth numbers and US February labor market data. Gold price (XAU/USD) extends its upside around […]
DAX Index Forecast As The ECB And Fed Delivers Another Catalyst
Image Source: Pexels The DAX index surged to its highest level on record. The ECB pointed to interest rate cuts starting in June. The Federal Reserve also hopes to start slashing rates in 2024. The DAX index surged to a record high, continuing a strong rally that has been going on for months. The index, which has the […]
First Hard Data For 2024 Signals German Economy Is Bottoming Out
Image source: PixabayThis morning, January industrial production came in at 1.0% month-on-month, from -2.0% in December. On the year, industrial production was still down by more than 5% and is now some 10% below its pre-pandemic level. Production in energy-intensive sectors rebounded by some 3% MoM, after the 6% December plunge. The January improvement in industrial […]
