hagijeee
Technical analysis: Canadian Dollar claws back lost ground, but momentum remains tepid
The Canadian Dollar (CAD) is broadly firmer on Wednesday, gaining half a percent against the Japanese Yen (JPY) and has stepped a fifth of a percent higher against the Australian Dollar (AUD). Elsewhere, gains remain thin with the CAD stepping up around a tenth of a percent against the Pound St
CANADIAN DOLLAR CLAWS BACK GROUND ON DATA-LIGHT WEDNESDAY
Canadian Dollar rebounds after previous day’s downside.Canada is absent from the economic calendar on Wednesday.BoC’s Macklem due Thursday to deliver latest Financial System Review. The Canadian Dollar (CAD) rebounded across broader markets on Wednesday, regaining ground lost in the previous session
FED COLLINS: THE JOB MARKET IS COMING TO A BETTER BALANCE
Federal Reserve Bank of Boston President Susan Collins emphasized that the US economy requires a period of moderation as a means to reattain the central bank's 2% inflation target. Key Quotes Demand will need to slow to get inflation to 2%. Fed policy well positioned for current outlook. Moneta
NZD/USD PRICE ANALYSIS: STRUGGLES TO COUNTER 0.6000
NZD/USD faces selling pressure above 0.6000 as US Dollar recovers.Fed Kashkari doesn’t see interest rate cuts this year.Investors see the RBNZ reducing interest rates from October. The NZD/USD pair faces pressure above the psychological figure of 0.6000 in Wednesday’s New York session. Downside pres
AUD/USD TUMBLES TO 0.6560 ON US DOLLAR’S RECOVERY, RBA’S LESS-HAWKISH POLICY STANCE
AUD/USD hits hard due to US Dollar’s recovery and dismal market sentiment.Fed Kashkari sees interest rates remaining steady by the year-end.RBA Bullock doesn’t see the need to hike interest rates again. The AUD/USD pair witnesses an intense sell-off and falls to 0.6560 in Wednesday’s early
ECB'S HOLZMANN: NO REASON TO CUT KEY INTEREST RATES TOO QUICKLY AND TOO STRONGLY
European Central Bank (ECB) policymaker Robert Holzmann said on Wednesday that he doesn't see a reason to cut key interest rates "too quickly or too strongly," per Reuters. Meanwhile, ECB policymaker <wbr>Pierre Wunsch argued that costs of keeping a too tight policy for too long
US Dollar Index Technical Analysis: It is not over yet
The US Dollar Index (DXY) is heading back in a bit of push-and-pull from what we saw earlier this year. Traders are keeping a half eye on the USD/JPY and should have it easy to time when the DXY will roll over or steam on higher. With the opposing comments from the BoJ and Minis
Daily digest market movers: One eye on USD/JPY
During the Asia-Pacific (APAC) trading session, both Bank of Japan governor Kazuo Ueda and Japanese Minister of Finance Shunichi Suzuki made comments on the Japanese Yen. BoJ President Ueda said that monetary policy is not controlling forex. Finance Minister Suzuki contradicted that stance
US DOLLAR GAINS GROUND AHEAD OF BATCH OF FED SPEAKERS
The US Dollar outperforms against most major Asian peers on Wednesday. Traders are gearing up for back-to-back Fed speakers lined up. The US Dollar Index trades around 105.50 and is making this week’s net performance a positive one. The US Dollar (USD) extends gains on Wednesda
Oil Technical Analysis: Cooling down in an uptrend
Oil prices are cooling down further as the risk of interruptions in Oil production from the Middle East isn’t taking place. As traders look to be fed up with pricing in a risk premium for something that is still not happening, this sees some capitulation in the Oil price where only $75.28
Oil news and market movers: Iran against OPEC
The American Petroleum Institute (API) reported on Tuesday that US Crude Inventories built by 509,000 barrels the week ending on May 3. The derivatives such as Cushing, Gasoline, and Distillates all saw buildings in their segments as well, Bloomberg reports.The Energy Information Administration (EIA
OIL DIPS AS IRAN JACKS UP PRODUCTION AHEAD OF OPEC MEETING
Oil continues losing ground after surprise comments from Iran about increasing output. WTI Oil snaps below $78 and looks set to head to $75.The US Dollar Index ticks up with help from the Japanese Yen and market uncertainty. Oil prices sank more than 1.5% in Wednesday’s European sess
Bear Flag reaches conservative target
Silver formed a Bear Flag continuation price pattern after reversing from the April highs at about $30.00. The pattern broke to the downside and declined to its conservative target. After a few bounces it started to reverse higher. There is a possibility that Silver price will fail to br
SILVER PRICE ANALYSIS: SILVER THREATENS TO REVERSE TREND
Silver price has recovered after meeting the conservative target for a Bear Flag pattern.It is now threatening to reverse the short-term downtrend and begin a new uptrend. A break above the May 7 highs at $27.51 would probably signal a bullish reversal of trend. Silver (XAG/USD) price is
US Dollar Index Technical Analysis: Some help from across the Pacific
The US Dollar Index (DXY) ticks up on Tuesday after Dollar bulls were able to close above 105.00 on Monday after a correction move in recent days. This could be crucial for the rest of the week and could see the DXY tick up further from here. Although no real major known catalysts are foreseen for t
Pull-up Update