Intraday Analysis – XAU remains under pressure
AUDUSD seeks support The Australian dollar recovered after a hawkish RBA hinted at further hikes. A drop below the daily support of 0.6870 has dented the optimism in the short-term. The four-month long rally could be in for a bit of consolidation after the aussie cleared the daily resistance at 0.6900 which […]
EURAUD: Downside pressure intensifies after RBA statement
The Reserve Bank of Australia announced a 25 basis point rate hike to 3.35% (the highest level since September 2012), in line with market expectations. The central bank has raised rates by a total of 325 basis points in nine hikes since last April. Affected by inflationary pressures and a tight labor market, the committee […]
Intraday Analysis – USD under renewed pressure
EURUSD pops higher The US dollar plunged after the Fed’s 25 bp hike raised hopes that the peak rate is getting closer. On the daily chart, the euro has bounced off the 20-day SMA (1.0800) as it sought to preserve its gains above last May’s high of 1.0780. A sharp break above […]
PCE Price Index Declines Adding Further Pressure on the DXY
US Core PCE Key Points: Core PCE Price Index YoY (DEC) Actual 4.4% Vs 4.7% Previous. PCE Price Index YoY (DEC) Actual 5% Vs 5.5% Previous. The Probability of a Fed Funds Peak Rate Above 5% for 2023 Continues to Decline. Recommended by Zain Vawda Get Your Free USD Forecast The CPI and Forex: How […]
Dollar stays under pressure as sterling, yen rate expectations build By Investing.com
By Geoffrey Smith Investing.com — The dollar tested a new nine-month low in early trade in Europe on Tuesday as economic data from Japan and the U.K. strengthened the case for more interest rate hikes there. By 02:55 ET (07:55 GMT), the , which tracks the greenback against a basket of advanced economy currencies, was […]
Intraday Market Analysis – USD still under pressure
USDJPY gives up gains The Japanese yen tumbled after the BoJ shattered hopes that it would wind down its stimulus policy. Still the dollar’s short-lived surge turned south at a previous demand zone around 131.50 which coincides with the 20-day moving average. This is a sign that the mood has remained cautious […]
Risk stays under pressure in European trading
Here’s a snapshot of the equities space at the moment: Eurostoxx -0.9% Germany DAX -0.9% France CAC 40 -0.8% UK FTSE -0.6% S&P 500 futures -0.4% Nasdaq futures -0.4% Dow futures -0.4% While European indices are seeing modest losses (also in part to catching up to the drop in Wall Street yesterday), US futures aren’t […]
Dollar under pressure as consensus over soft inflation figures in 2023 grows
The dollar fell to its lowest level in 7 months, and bond yields stabilized after a sharp fall on Thursday, as another decline in major US inflation indicators raised hopes for an early end to the Federal Reserve's tightening cycle, and even its first rate cut in the second half of the year.On Friday, the […]
The Odds of a Dovish Fed in February Increase, Putting Pressure on the USD
US equities closed in green on Thursday, while on Friday a profit taking mood prevails with US futures on the slippery slope. The dollar index holds above the 102 level, but the yen's strong gains indicate lower expectations that the Treasury-JGB rate differential will remain wide. USDJPY declined 0.75% and closely follows the rate differential:Despite […]
Debate about the SARB’s autonomy is causing pressure on ZAR – Commerzbank
The Rand has come under pressure since the start of the week. Debates about a South African central bank’s change of mandate are pounding the ZAR, economists at Commerzbank report. Debates about a change of the SARB mandate “The plans of the governing party ANC are causing uncertainty amongst ZAR investors. They fear for the […]