NZD/USD remains pressured around six-week low marked on Monday. Falling wedge formation teases buyers to take a risk but RSI hints at further downside. Convergence of the 100-SMA and 200-SMA appears a tough nut to crack for bulls. NZD/USD prints a three-day downtrend while posting mild losses around 0.6115 during Thursday’s Asian session. In doing
Month: August 2022
August marks the ninth consecutive month of rising inflation for the Eurozone at 9.1%. In July, the official inflation numbers landed at 8.9%. The Eurozone consists of 19 countries, including Germany, France and Belgium. This comes as the European Union (EU) faces a massive energy and gas crisis, largely as a result of the ongoing
AUDUSD tumbles lower The AUDUSD started the New York session as one of the strongest of the major currencies. At the highs the pair tested the 38.2% at 0.69537, but found sellers. The bullish fortunes reversed with the price moving back below the 100 and 200 hour MA (blue and green lines) That increased the
Headlines: Markets: AUD leads, CHF lags on the day European equities lower; S&P 500 futures up 0.2% US 10-year yields up 2.4 bps to 3.134% Gold down 0.5% to $1,714.88 WTI crude down 2.8% to $89.10 Bitcoin up 1.7% to $20,310 It was a bit of a choppy day in markets in general but the
West Texas Intermediate fell as much as $4.09 a barrel from high to low on Wednesday, putting it on course for a monthly decline of about 10%. Europe is gripped by an energy crisis that may herald a recession while in Asia, growth has slowed in China, the top world’s oil importer. “Consumption of crude
Euro is staying as the strongest one for the week, as supported by a chorus of ECB hawks. Markets are starting to price in a 75bps rate hike by ECB next week. For now, the strength in Euro is most apparently only against Sterling, Swiss Franc and Yen. It’s kept well in range against Dollar.
A hiring sign is seen in a cafe as the U.S. Labor Department released its July employment report, in Manhattan, New York City, August 5, 2022. Andrew Kelly | Reuters Companies sharply slowed the pace of hiring in August amid growing fears of an economic slowdown, according to payroll processing company ADP. Private payrolls grew
Russia’s Gazprom saw its shares surge on Wednesday after reporting bumper first-half profits and announcing a new dividend to shareholders. Stoyan Vassev | Press service of Gazprom Neft | via Reuters Russian gas giant Gazprom posted a record first-half profit and promised new dividends to shareholders, sending its shares soaring more than 27% in early
Iran’s Foreign Minister Hossein Amirabdollahian said on Wednesday that Tehran is carefully reviewing the EU-drafted text for the revival of the 2015 nuclear pact, as reported by Reuters. “We need stronger guarantees from the other party to have a sustainable deal,” Amirabdollahian added. “The (U.N.) agency should close its politically-motivated probes.” Market reaction Crude oil
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> Technical Analysis > What are the technicals that are driving the FX markets heading into the new trading day? Technical Analysis A technical look at the major currencies vs the USD for the Asia Pacific traders The EURUSD is trading above its 100/200 hour moving averages which is bullish, but remains below its 38.2%
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Oil prices fell more than $7 a barrel on Tuesday, the steepest decline in about a month, on fears that an inflation-induced weakening of global economies would soften fuel demand and as unrest in Iraq has failed to put a dent in the OPEC nation’s crude exports. Brent crude futures for October settlement were down
Euro is trying to extend recent rally, but the gains also so far concentrated against Sterling and Swiss Franc. Persistent flow of hawkish comments from ECB official is support the common currency nevertheless. Australian Dollar and Yen are currently the stronger ones for the day. The Pound, Franc and Dollar are the weaker ones. Technically,
A “Now Hiring” sign is posted at a Home Depot store on August 05, 2022 in San Rafael, California. Justin Sullivan | Getty Images There were nearly 1 million more job openings than expected in July, an inflationary sign that the U.S. labor market is still extremely tight, the Bureau of Labor Statistics reported Tuesday.
AUD/NZD is expected to display more downside below 1.1170 amid weaker Aussie Building Permits. Next week, an interest rate decision by the RBA will be keenly watched. The RBNZ will announce two more interest rate hikes this year. The AUD/NZD pair has displayed a less-confident pullback after printing a fresh four-day low below 1.1700. The
The strongest to weakest of the major currencies The AUD and NZD lead the strongest of the major currencies, while the CHF and USD are the weakest. Risk-on flows are dominant as the market takes a breather from the 2-days of sell off in stocks and bonds (with higher yields) after the Fed Chair Powell’s
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