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GBP/USD remains on the defensive below 1.2450 ahead of UK Retail Sales data
GBP/USD loses traction around 1.2430 amid the firmer US dollar on Friday. The Fed’s hawkish comments boost the Greenback against the GBP. BoE’s Greene said rate cuts were not imminent and that inflation remains too high. The GBP/USD pair remains on the defensive near 1.2430 during the early Asian se
Japan inflation: National CPI climbs 2.7% YoY in March vs. 2.7% expected
Japan’s National Consumer Price Index (CPI) for March climbed 2.7% YoY, compared to a 2.8% uptick in February, according to the latest data released by the Japan Statistics Bureau on Friday. Further details unveil that the National CPI ex Fresh food arrived at 2.6% YoY in February versus 2.8% prior.
BoJ’s Ueda: Chance weak Yen might affect trend inflation and could lead to policy shift
Bank of Japan (BoJ) Governor Kazuo Ueda spoke in a press conference after attending the Group of 20 (G20) finance leaders' meeting in Washington on Thursday. Ueda said that the central bank may raise interest rates again if the Yen's declines considerably increase inflation, highlighting the impact
AUD/USD pressured as Fed officials hold firm on rate policy
AUD/USD falls following hawkish signals from Fed officials, emphasizing no immediate rate cuts. US economic indicators strengthen, with the Philadelphia Fed Manufacturing Index hitting a new high since April 2022. Australian employment data disappoints, with job losses and a slight increase in the u
EUR/USD extends its downside below 1.0650 on hawkish Fed remarks
EUR/USD remains under selling pressure near 1.0640 on the stronger USD on Friday. Fed’s Bostic said US inflation is expected to return to target at a slower pace than previously anticipated. ECB policymakers noted the central bank should cut rates in June to avoid falling behind the inflation curve.
NZD/JPY Price Analysis: Buyers dominance diminishes, market could favor sellers soon
The daily RSI shows that buyers' hold over the market is likely fading, signaling the growing presence of sellers. On the hourly chart, indicators underline a prominent seller command in the past sessions. The NZD/JPY is trading slightly lower at around 91.23. It seems the firm grip buyers had over
GBP/JPY Price Analysis: Stalls in narrow range above the 192.00 threshold
GBP/JPY slightly rises, within a 191.90/192.80 trading range. Positioned above the Ichimoku Cloud, technical indicators favor a bullish outlook, though signs of consolidation are evident. A breakout above 192.80 could lead to testing resistance at 193.00 and potentially reaching the year-to-date hig
EUR/USD FX deep dive : A case for a significantly weaker Euro
I’ve been reflecting on recent macro-economic events and a number of factors now suggest that a meaningful downtrend in the Eur/Usd is underway. Let’s begin by first discussing the ECB’s current monetary policy stance. ECB stance: The ECB has been explicitly dovish in recent communications, essentia
EUR/JPY Price Analysis: Bulls Maintain Control, consolidation phase likely
The RSI on the daily chart of EUR/JPY indicates sustained bullish momentum. Hourly chart shows an RSI below its mid-zone and MACD with rising red bars, pointing towards possible consolidation. The EUR/JPY's position above main SMAs underscores a strong bullish bias. The EUR/JPY slightly declined to
Forex Today: The Fed’s tighter-for-longer stance supports the Dollar
Further hawkish comments from Fed speakers lent extra legs to the Greenback and sparked a decent bounce in US yields, while the ECB's officials continued to advocate the start of the bank’s easing programme in the summer. Here is what you need to know on Friday, April 19: The Greenback regained upsi
Silver Price Analysis: XAG/USD clings to $28.00 amid high US yields
Silver maintains modest gains supported by a still-bullish market sentiment despite high US Treasury yields. Technical outlook favorable as the Relative Strength Index (RSI) indicates buying activity despite a slight dip. Potential resistance and breakout points set at $28.75 and $29.00, with eyes o
US Dollar strengthens following encouraging labor market data, higher US Treasury yields
DXY Index recovers and flirts with November highs. Initial Jobless Claims data came out slightly lower than expected. Fed’s stance remains hawkish, persistently increasing pressure on US yields. The US Dollar Index (DXY) rose toward 106.25 on Thursday and appears on track to test the November 1 high
Elliott Wave analysis on Gold: Intraday retracement within bull run
Gold has seen a bullish trend over the past few months, and we are currently witnessing strong and accelerating price action, driving the metal to new all-time highs. The drivers behind this surge are geopolitical tensions and its role as an inflation hedge. Interestingly, this ascent is occurring d
GBP/USD stays firm amid BoE, Fed commentary and US data
GBP/USD remains flat, influenced by BoE's Megan Greene remarks and multiple Fed officials emphasizing rate patience. US economic updates reveal a decrease in Jobless Claims and a surge in the Philadelphia Fed Index but a drop in home sales. Shift in rate cut expectations for the Fed impacts currency
Fed’s Bostic: Rate cuts are likely by year end
Speaking at the Greater Fort Lauderdale Alliance in Florida on Thursday, Atlanta Federal Reserve Bank President Raphael Bostic noted that U.S. inflation is anticipated to return to 2% at a slower pace than many had anticipated. Key Quotes Inflation is too high We still have a ways to go on inflation
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