Traders are closely monitoring Fed speeches, particularly Fed's Mester speech scheduled for Tuesday, for further insights into monetary policy directions. Additionally, market participants await key economic releases later in the week, including New Zealand's Unemployment Rate for Q4 and ...
Tag - usd
FUNDAMENTAL OVERVIEW Today marks the conclusion of the first monetary policy meeting of the year by the United States Federal Reserve (Fed)…
Gold prices, stable above $2,000 per ounce, commenced the week on an uptrend driven by a rallying US dollar and anticipation surrounding the upcoming Federal Reserve meeting. Analysts highlight that the market is keen on the Fed's signals for the coming months rather than immediate announcements.
Major currency pairs like USD/JPY and USD/CHF face potential shifts in trends as central banks reevaluate interest rates. The Euro and British Pound are poised for nuanced movements based on economic conditions and rate decisions. Meanwhile, the Australian and New Zealand Dollars grapple with changing interest rate...
Intraday Bullish Scenario: Consider buying above 2028.50 with TP1: 2033, TP2: 2036, and TP3: 3039 on extension. Intraday Bearish Scenario: Look for sales below 2024 with TP1: 2000, TP2: 2016, and upon breakout TP3: 2013.
The Canadian Dollar faces a confluence of challenges, from the unexpected BoC stance on interest rates to mixed economic data and the traditionally impactful fluctuations in oil prices. As investors grapple with uncertainty regarding future monetary policy directions and the resilience of various economic sectors, the...
The recent economic data presents a nuanced narrative, showcasing the resilience of the US economy amid uncertainties. As we navigate through the mixed signals of GDP growth, price index fluctuations, and surprising jobless claims, it becomes evident that a comprehensive understanding...
Bitcoin undergoes a halving approximately every four years, halving the rate of new Bitcoin creation. The last three occurred in 2012, 2016, and 2020, with the upcoming one expected in April 2024. This process regulates Bitcoin's supply, contributing to its scarcity and controlled issuance, ensuring a stable and valuable asset.
Gold prices, currently near $2,030, saw a modest decrease of 1% over the past week and a 2% dip since the start of 2024. Meanwhile, silver surpassed $22 per ounce, experiencing a 4% drop in the week and a 6.5% decline in the year so far. Upcoming scrutiny of economic data, particularly the Q4 US GDP report
Bullish Scenario: Consider buying at levels 1.3428 or 1.3462 with take profit targets at 1.3990 (TP1), 135.00 (TP2), and 1.3510 in extension (TP3). Bearish Scenario: Selling below 1.3460 (waiting for a retracement to the zone) with TP1 at 1.3430, TP2 at 1.3415, and TP3 at 1.34 in extension.
The New Zealand dollar (NZD) kicks off the week at 0.6116, showing minimal change. However, last week saw a 2% dip, pushing the NZD to a five-week low. Economic challenges persist in New Zealand, with the Performance of Services Index (PSI) revealing three contractions in the second half of 2023. November's PSI improved marginally to 51.2 from
The yen has experienced significant fluctuations in recent weeks, initially gaining ground against the weakening US dollar in December but subsequently losing those gains as the dollar rebounded in January. USD/JPY reached 148.80 on Friday, the highest level since November 28, prompting concerns that if the yen continues to depreciate, the Ministry of Finance might