Chinese PMIs and Potential Commodity Currency Recovery
With lingering questions on how much of an impact China’s reopening will have on the global economy, there’s likely to be increased focus on leading economic indicators from the country. Foremost among them are PMIs, since they are the freshest data, and give insight into economic trends. If the economy is ramping up, purchasing managers […]
Recovery remains elusive below 0.9255-60 hurdle
USD/CHF picks up bids to extend the previous day’s rebound from weekly low. Convergence of 200-SMA, support-turned-resistance line and a descending trend line from early January appears tough nut to crack for bulls. Impending bull cross on MACD, sustained bounce off 23.6% Fibonacci retracement suggest further recovery. USD/CHF grinds higher past 0.9200, mildly bid while […]
USD/CAD struggles to extend recovery above 1.3380 ahead of BoC policy
USD/CAD is facing stiff resistance in surpassing the 1.3380 hurdle as the focus shifts to BoC policy. BoC Governor is expected to hike interest rates further by 25 bps to 4.5%. A sell-off in S&P500 futures is portraying caution in the market mood. The USD/CAD pair is facing barricades in paddling above the immediate resistance […]
EUR/USD sees recovery to near 1.0900 as ECB to continue rate hikes beyond summer
EUR/USD is eyeing to recapture the 1.0900 resistance as ECB might not pause policy tightening beyond summer. The Euro is delighted with bullish bets for CY2023 as the ECB will continue to raise interest rates further. According to the consensus, investors should brace for a contraction in the US GDP for the fourth quarter of […]
Asia FX rises in holiday trade as China recovery bets grow By Investing.com
© Reuters. By Ambar Warrick Investing.com — Most Asian currencies strengthened in thin trade on Monday, while the dollar weakened further amid growing bets that the Chinese economy will bounce back this year, with focus also turning to key U.S. data due this week. Regional trading volumes were limited with most markets closed for the […]
Recovery remains elusive below 1.3520
USD/CAD picks up bids to reverse intraday losses, probes two-day downtrend. Multiple moving averages stand tall to challenge recovery moves. MACD, RSI conditions suggest further weakness but 10-week-old support line restricts immediate downside. USD/CAD licks its wounds during a sluggish Monday morning as the pre-Fed blackout joins the Lunar New Year holidays in China. Even […]
Further limited CAD recovery potential in the medium term – Commerzbank
The Loonie continues to find it difficult to hold its ground. Economists at Commerzbank see limited CAD recovery potential in the medium term. CAD is likely to have a hard time for the time being against the EUR “In view of the robust economy and active BoC, we see further limited CAD recovery potential against […]
Netflix Earnings Mixed, Don’t Offer Nasdaq 100 and Tech a Clear Path to Recovery
Netflix, Earnings, FAANG, Tech and Nasdaq 100 Talking Points: The Market Perspective: Nasdaq 100 Range from 11,600 to 10,600 Netflix reported an EPS of $0.12 versus $0.42 expected on revenue that was very close to matching analyst forecasts with $8.17 billion The ability for this company’s performance to influence a broader earnings season swell – […]
BTC/USD Bullish Breakout Drives Crypto Recovery
Bitcoin (BTC) Price Analysis: Bitcoin prices hold steady after 26% rally drives prices towards levels last tested before the collapse of FTX. BTC/USD gains after bulls break $20,000. Cryptocurrency market capitalization eagerly approaches $1 Trillion mark. Recommended by Tammy Da Costa Get Your Free Bitcoin Forecast Bitcoin (BTC/USD) Forecast: Bitcoin prices (BTC) have made an […]
WTI struggles to extend recovery towards $79.00, optimism remains on softer US inflation
Oil prices have turned sideways after failing to extend recovery to near $80.00. The black gold price has not run out of steam as the US administration is ceasing oil supply to China. Falling US inflation has triggered odds of a slowdown in the pace of the Fed’s policy tightening. West Texas Intermediate (WTI), futures […]