NZD/USD struggles to sustain above 0.6500 as USD Index shows stellar recovery
NZD/USD is facing hurdles in shifting its auction above 0.6500 amid a recovery in the USD Index. Softening consumer spending has bolstered the expectations of a smaller interest rate hike by the Fed. This week, the release of the NZ Employment data will be of utmost importance. The NZD/USD pair is failing in keeping its […]
WSJ reports ”Fed debates whether wages or low unemployment will drive inflation”
The Wall Street Journal has written in the weekend press that ”stubbornly high inflation is finally easing as supply chain disruptions fade and interest rates at 15-year highs put the brakes on demand. Now, Federal Reserve officials have voiced unease that prices could reaccelerate because labour markets are so tight.” ”At issue is what’s the […]
Things set to remain tough for the Dollar – Commerzbank
The US Dollar struggles to stay resilient ahead of the US Gross Domestic Product (GDP) data. The greenback could remain under pressure on signals of a cooling of the US economy, economists at Commerzbank report. Positive review, shaky outlook “A rate hike by ‘only’ 25 bps at the next Fed meeting is now increasingly likely […]
AUD/USD starts off bid and eyes are on 0.7000/20
AUD/USD is moving in on the price imbalance in the 0.6980s. There is further potential for a move-up in the initial balance for the week with CPI eyed. The key areas to the downside are 0.6950 and 0.6910 ahead of 0.6870. AUD/USD is starting out the week a touch higher as the commodities complex remains […]
Wyckoff’s Inventory Accumulation is in making
USD/CAD is marching higher despite upbeat oil prices. Stretched consolidation after a downfall is demonstrating signs of inventory accumulation. A 40.00-60.00 range oscillation by the RSI (14) indicates a consolidation ahead. The USD/CAD pair is gradually moving towards the round-level resistance of 1.3400 after a recovery move to near 1.3370 in the Asian session. The […]
Fed’s Barkin:”My hope is we have seen peak inflation behind us”
Tom Barkin, the president and CEO of the Federal Reserve Bank of Richmond, is crossing the wires. Key comments My hope is that we have passed the peak of inflation. The median CPI is still too high for what I want to see. Cannot declare victory over inflation too soon. Doesn’t favour backing off too soon, […]
US Dollar looks to stabilize amid cautious markets
Here is what you need to know on Tuesday, January 17: The US Dollar is building on the previous recovery this Tuesday, as risk sentiment remains tentative following the release of China’s growth numbers. China’s Q4 GDP topped forecasts but expanded at the second-slowest pace since the 1970s. China’s GDP expanded by 2.9% in Q4 YoY, official […]
EUR/USD juggles below 1.0850 as focus shifts to US PPI and Retail Sales data
EUR/USD is oscillating below 1.0850 amid a holiday in the United States market. The US Dollar Index (DXY) is looking to drop below the immediate support of 101.75 amid an upbeat market mood. The release of the US PPI and Retail Sales will provide decisive moves in the asset ahead. The EUR/USD pair is struggling […]
AUD/USD bulls eye a break of 0.6990s as domestic data underpins hawkish RBA sentiment
AUD/USD supported on domestic recent data. Bulls eye a break of the inverse head and shoulders. AUD/USD is trading at 0.6970 and in a tight 10-pip range between 0.6967 and 0.6977 on the day so far. The price has been capped below the recent 0.6990s recent highs in what has been a choppy consolidation range […]
Spring below 0.9200 pushes back inside the woods
The formation of a Spring has pushed the asset inside the woods. A stretched consolidation after a bearish bias indicates inventory accumulation for a bullish reversal. Overlapping 20-EMA with the asset price is indicating a consolidation ahead. The USD/CHF pair is displaying topsy-turvy moves in the early Tokyo session as the upside in the asset […]