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 […]
USD Index appears depressed post-Fed, breaches 101.00
The index drops to 10-month lows near 100.80. The dollar remains on the defensive post-FOMC event. Initial Claims, Factory Orders next of note in the docket. The greenback, in terms of the USD Index (DXY), adds to the weekly leg lower and breaks below the 101.00 support to print new 10-month lows on Thursday. USD […]
US Dollar Slammed Post FOMC as Markets Test Fed Resolve. Where to for USD?
The US Dollar slide has continued after the New York close post the Fed hiking rates and Powell putting a dovish tilt in the mindset of the market. How low will USD go? US Dollar, DXY Index, USD, Fed, FOMC, Powell, Disinflation – Talking Points The US Dollar has been vanquished by the markets slant […]
PBOC sets USD/ CNY mid-point today at 6.7492 (vs. estimate at 6.7499)
<p>People's Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead.CNH is the offshore yuan. USD /CNH has no restrictions on its trading range.A significantly stronger or weaker rate than expected is typically considered a signal from the PBOC.The previous close was 6.7531</p><p>more to come</p><p>PBoC injects 155bn yuan of 7-day […]
Intraday Analysis – USD in consolidation mode
USDJPY grinds resistance The Japanese yen finds limited support from a rise in the December retail trade number. On the daily chart, last May’s low of 126.50 and the 20-day moving average (131.10) are compressing the price range and a breakout would dictate the next move in the medium-term. Intraday-wise, the pair […]
USD Controlling EUR/USD Price Action Dismissive of Positive EZ Data
EUR/USD ANALYSIS & TALKING POINTS EZ economic data unable to deter USD backing. All eyes on the Fed tomorrow with emphasis in post-announcement conference. Can current USD strength last against the EUR? Recommended by Warren Venketas Get Your Free EUR Forecast EURO FUNDAMENTAL BACKDROP The euro received several key economic data prints (see economic calendar […]
Intraday Analysis – USD needs catalyst
AUDUSD tests major supply area The Australian dollar stays high as traders remain hopeful of a dovish Fed pivot. A tentative break above last August’s high of 0.7130 further fueled the bulls’ enthusiasm and could lay the foundation for an extended reversal to 0.7270. In the short-term, the RSI’s bearish divergence indicates […]
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 […]
US Dollar Poised Ahead of Fed as China Returns. Where to for USD?
US Dollar, DXY Index, USD, Fed, FOMC, China, CSI 300, Hang Seng – Talking Points The US Dollar remains range bound as the Fed meeting looms An impending tightening by the BoE and ECB also clouds expectations China’s re-opening might provide a bright spot. Will that send the DXY index lower? Recommended by Daniel McCarthy […]
PBOC sets USD/ CNY reference rate for today at 6.7626
<p>People's Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead after the long Lunar New Year holiday break.</p><p>Mainland Chinese stockmarkets will reopen at the bottom of the hour. Hong Kong opened mid-last week and has rocketed higher. USD/CNY is the onshore yuan. Its permitted to trade plus or minus […]