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05 Apr BirthFXStreet offers live FX rates and charts, news, economic calendar, market analysis and more.
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Russia: Central bank point to more tightening to tackle inflation – CE
The Russian ruble is among the strongest currencies on Friday, boosted by the decision of the Central Bank of Russia (CBR) to raise the key rate by 50bps, above expectations. Analysts at Capital Economics think that a further 50bp of interest rate increases will be sufficient to lower inflation, but
FOMC Preview: Not expecting new signals on tapering – TDS
Next Wednesday, the Federal Reserve will announce its decision on monetary policy. No change in the policy is expected. Analysts from TD Securities do not expect any substantive new signal on tapering. They see a limited reaction in markets to the FOMC meeting. Key Quotes: “We don’t expect any subst
Elliott waves on GBP/USD hint at bearish leading diagonal
GBP/USD cycle degree structure suggests that the recent top at 1.4245 completed wave Ⓒ of a running flat. The 5-wave bullish move seen in the red intermediate degree is part of the longer-term triple three pattern, labelled wxyxz. Despite wave Ⓒ ending the flat pattern a tad higher than the often-se
EUR/USD analysis: Returns to resistance
The EUR/USD found support in the zone of the mid-April high levels before starting a surge. By the start of the Friday's US trading hours, the currency exchange rate had already reached the resistance of the weekly R2 simple pivot point, which reversed the rate's surge on April 20. In the near term
China takes swing at LBMA [Video]
In this episode, Andrew Maguire explains the market forces behind the recent gold and silver rally and sheds light on the extremely bullish open interest structure of the latest COT report. The precious metals expert explores the significance of China’s unprecedented move to open up gold imports and
Tax hike shock fades on Wall Street
The week is ending on a more positive note for Wall Street, although European markets continue to struggle. US services activity is rebounding at a rate not seen for at least 11 years, as the PMI for the sector hits 62.2. The European figures remain strong as well, but without the benefit of fiscal
Services data pulls stocks off their lows
Europe It’s been a lacklustre end to what has been a negative week for European stocks, with concerns about surging covid-19 infection rates in Asia weighing on sentiment over the past few days. Sentiment has improved slightly as the day has progressed given some of this morning’s economic data, how
USD/JPY rebounds sharply from monthly lows, prints daily highs above 108.00
Japanese yen tumbles across the board amid risk appetite and higher yields. USD/JPY about to end negative streak with a sharp reversal. The USD/JPY bottomed at 107.42 hours ago, hitting the lowest level since March 4. Since then it gained more than 60 pips. It rose to 108.14 in a few minutes, making
EUR/USD Weekly Forecast: Hopes boost high-yielding assets, but dollar may soon change course
The ECB held a cautious stance on economic progress, maintaining the monetary policy unchanged. The US Federal Reserve is not expected to surprise market participants next week. EUR/USD is technically bullish, but investors may soon return to dollar buying. The EUR/USD pair has advanced for a third
USD/JPY Weekly Forecast: Higher US Treasury rates, not if but when?
USD/JPY trades through the 23.6% and 38.2% Fibonaccis of the 2021 gain . Dollar weakens as Treasury yields continue to decline. BOJ and Fed policy decisions awaited next week. Rebound above 108.00 limits immediate downside risk. The USD/JPY has come under steady selling pressure for the last three w
The tax plan to slay the stock bull?
A day like almost any other – S&P 500 about to take again on the ATHs until the capital gains tax hike proposal came, shaving off 50 points in stocks within an hour. The 4,415 support held though, both before and after the closing bell. Are we ready to shake off the cold water and resume running
Will a fiscal revolution raise gold to the throne?
Revolution, baby! There is growing acceptance for an aggressive fiscal policy, which could be supportive for gold prices from the fundamental, long-term point of view. We live in turbulent times. The pandemic is still raging and will most likely have lost lasting effects on our society. But a revolu
Yields are once again slightly lower
Financials: As of this writing (6:00 am) June Bonds Are 6 higher overnight at 158’20 and 1’22 higher for the week, 10 Year Notes up 1 overnight and up 17 for the week and 5 Year Notes up 1 at 124’04 up 9 for the week. Yields are once again slightly lower: the 2-year note art 15 basis points down 1 f
Week ahead: Global indices pulling back
Global indices pulled back at the start of this week which was only to be expected after a very strong few weeks of gains. There was no particular catalyst to the moves lower. Although there are concerns over global COVID-19 case numbers the optimism surrounding mass vaccination should ensure dip bu
Those tax hikes I warned about
Remember how every month in 2021 started off hot and then saw a pullback and volatility occur by the second half of the month? Welcome to the second half of April. After switching my calls on the SPDR S&P ETF (SPY) and the SPDR Dow Jones ETF (DIA) a week ago (Apr. 16), both have declined over 1%
Pull-up Update
