And that is seeing AUD/USD buyers capitalise a little in pushing price back towards the 200-day moving average (blue line), seen at 0.6526 on the day. The pair saw price movement capped by the key technical level yesterday and here we are testing it again. As much as buyers look to be trying, they’d need
AUD/JPY continues its winning streak after the stronger Australian CPI was released on Wednesday. Australia’s 10-year government bond yield has surged to 4.49% near five-month highs on waning expectations of the RBA rate cuts. The Japanese Yen continues to depreciate as the BoJ is expected to abstain from implementing rate hikes on Friday. AUD/JPY edges
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
US Dollar tips into a fresh 34-year high against Japanese Yen on Wednesday. BoJ policy statement is expected as markets await Yen intervention. US data sends mixed shocks through markets as Fed watchers look on. USD/JPY broke into its highest chart territory since June of 1990 on Wednesday, peaking near 155.40 for the first time
In the morning kickstart video, I spoke to the support near the 200 hour MA and the swing area, and if that level held, the need to get and stay above the 38.2% of the April trading range. Well those levels have defined the range in the US session (give or take a couple pips
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High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
S&P index turns negative The S&P index has given up its gains and traded in negative territory. At session highs the price change was up 18.92 points. The low price just reached -14.78 points on a day. At session lows, the price tested a swing level going back to March and last week near 5056.92.
The Mexican Peso weakens in most key pairs after the release of Mexican inflation data. The data showed a greater-than-expected rise in the CPI but core CPI met estimates. USD/MXN’s short-term trend may have reversed from bullish to bearish. The Mexican Peso (MXN) trades lower in most pairs on Wednesday following the release of Mexican mid-month inflation data for
FBS, a leading global broker that has recently launched an upgraded FBS app, projects gold price surge to $2,800 per ounce by the close of 2024. FBS financial market analysts have identified the pivotal factors driving the bullish trend for gold and covered the potential strategies for CFD traders. Gold is among the assets characterized
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
USD/CHF remains bullish due to disparities in expected policy trajectories between the Fed and SNB. The Swiss Franc is under downward pressure as the SNB is anticipated to implement another rate cut in June. The US Dollar has rebounded, potentially driven by the higher 10-year yield on US Treasury bond. USD/CHF hovers near 0.9140 during
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
GBP/USD trades on a stronger note near 1.2450 amid softer USD on Wednesday. US flash S&P Global Manufacturing and Services PMI came in weaker than expectations in April. BoE’s Pill said inflation must be squeezed out of the UK economy and cautioned against cutting too soon. The GBP/USD pair recovers to 1.2450 on Wednesday during the early Asian session. The downbeat
The USDCAD has followed the USD lower and in the process is now stretching to a key cluster of support defined by: A swing area between 1.3654 and 1.3668 204 moving average on the four hour chart at 1.3665 50% midpoint of the April trading range at 1.36612 That cluster between 1.36541 and 1.3668 is
The USDJPY has two key level in play. ON the topside the 155.00 level is being touted at a level that the BOJ does not want to see the USDJPY move above. It may just be the “market” speaking, but there is chatter that the central bank also does not want the pair moving above
The EURUSD of higher after the weaker US data today and in the process tested the 30.2% retracement of the April trading range. That level comes in at 1.0709. The high price reached 1.07107 just above the retracement level before rotating modestly to the downside. What next? For buyers, the 38.2% retracement is a key
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
GBP/USD surges over 0.65% following disappointing US economic figures. Technical analysis indicates a potential upward movement if GBP/USD sustains a close near 1.2440, completing a ‘morning star’ pattern. Key resistances are ahead at 1.2500 and the 200-day moving average at 1.2565; downside risks persist below 1.2400. The Pound Sterling rallied early in the North American
Gold has plunged more than 3% since the start of the week (the biggest daily drop in nearly two years), while silver has suffered a sharp 5.5% correction. There are two main reasons for this sudden turnaround. Firstly, easing geopolitical tensions in the Middle East is dampening demand for safe-haven assets such as gold. On
USD The Fed left interest rates unchanged as expected at the last meeting with basically no change to the statement. The Dot Plot still showed three rate cuts for 2024 and the economic projections were upgraded with growth and inflation higher and the unemployment rate lower. The US CPI beat expectations for the third consecutive
Prior 51.5 Manufacturing PMI 45.6 vs 46.6 expected Prior 46.1 Composite PMI 51.4 vs 50.7 expected Prior 50.3 The services print is a 11-month high while the manufacturing print is a 4-month low. But at the balance, the Eurozone economy is seen expanding at its quickest pace in nearly a year in April. While economic
Gold price drifts lower for the second successive day amid receding geopolitical tensions. Reduced Fed rate cut bets continue to underpin the USD and contribute to the downfall. The fundamental backdrop warrants some caution before placing aggressive bearish bets. Gold price (XAU/USD) remains under heavy selling pressure for the second straight day on Tuesday and
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Gold retracts sharply from recent highs, influenced by reduced geopolitical risks and a strengthening US Dollar. Fed officials, including Chairman Powell, maintain a hawkish stance on interest rates, pressuring Gold prices. Market sentiment shifts as expectations for Federal Reserve rate cuts are adjusted to a later timeline. Gold prices plummet sharply and retrace last week’s
I wrote earlier this month about why a perfect storm is about to hit global power grids. Investors and companies spend very little time thinking about electricity. For most companies and consumers — at least outside of South Africa — simply hook up to the grid and turn o the lights. The same was true
The Mexican Peso trades mixed after Middle East tensions abate temporarily. Several sources of geopolitical risk, however, continue to present threats to the Peso. A new Omicron variant of the Covid virus is spreading, though symptoms appear mild so far. The Mexican Peso (MXN), which is especially vulnerable to geopolitical risk, is trading mixed in most pairs
GBP/USD daily Cable carved out a range from roughly 1.25-1.28 from December to early March in what was a slog of a market as we all weighed whether the BOE would keep its hawkish stance and the Fed would signal rate cuts. For a brief moment in March, it looked like the pair would break
I am eyeing Tesla stock before tommorow’s earnings report, and starting to buy now As equity traders, we’re always on the lookout for opportunities that promise a good return against measured risk. Tesla Inc. (TSLA), the innovative electric vehicle and clean energy company, presents such an opportunity. Ahead of its earnings release tomorrow, post-market close,
The market mood is a better one compared to Friday last week. But this is just a slight breather as there were no significant escalation in geopolitical developments over the weekend. In FX, the changes among dollar pairs leave a lot to be desired: The moves are less than 20 pips for each pair with
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