Forex

Cryptocurrencies endured significant losses in 2022 which forced certain cryptos to lose around 80% of the market capitalization, with Ethereum falling from below $5,000. But, this year has been positive for digital currencies, with ETH/USD achieving higher highs, indicating that the trend has been bullish throughout this year. Source link

The Japanese yen is slightly lower on Friday. In the European session, USD/JPY is trading at 141.75, up 0.27%. The US dollar has taken a tumble in recent weeks against most of the major currencies, including the yen. Since mid-November, the yen has jumped 6.4% against the ailing US dollar. This has relieved pressure on

Chicago PMI expected to decelerate China releases PMIs on Saturday The New Zealand dollar is in negative territory on Friday. In the European session, NZD/USD is trading at 0.6308, down 0.37%. The US dollar has hit a rough patch lately and retreated against most of the majors. The New Zealand dollar has been full marks,

Spanish CPI lower than expected at 3.1% Chicago PMI expected to decelerate to 51.0 The euro is calm in Friday trade. In the European session, EUR/USD is trading at 1.1053, down 0.08%. Spanish CPI dips to 3.1% Spain released the December inflation report today, with CPI dipping to 3.1% y/y, down from 3.2% in November.

Ultimately, the gold market’s recent performance has demonstrated signs of a breakout, with expectations of further upward movement.  The gold market displayed an initial attempt at a rally during Thursday’s trading session but subsequently retreated, indicating a degree of caution as it approached the $2,075 level. Nonetheless, this represents a breakout from previous levels, and

Japanese Yen is poised to be December’s best performer in the currency markets. Its strength is primarily driven by growing expectations that BoJ will eventually exit its long-standing negative interest rate policy in 2024. Yen’s performance is particularly noteworthy against Dollar (USD/JPY) and Sterling (GBP/JPY), both of which are top movers for the month, with

AUDUSD reversed from resistance level 0.6865 Likely to fall to support level 0.6800 AUDUSD currency pair recently reversed down from the major resistance level 0.6865 (which has been reversing the pair from June). The resistance level 0.6865 was further strengthened by the nearby upper daily Bollinger Band. Given the strength of the resistance level 0.6865

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Today US Treasury yields turned higher after being on a steep bearish trend since late October. However, the US currency has been finding it hard to maintain the gains it made earlier in the day as cash flows continue to dominate financial markets as we approach the end of the year. Source link

Crude oil has been sliding for a few months, with highs decreasing and moving averages acting as resistance. The decline continued and WTI crude fell below $68. However, buyers have returned, and we have been seeing considerable buying pressure in the last two weeks, pushing the price above $76 yesterday. Source link

USD/JPY has been on a bearish trend since the middle of November and bears remain in control, selling every bounce. The reason for this decline has been the dovish reversal from the FED and the mention of rate cuts next year, with markets expecting them to ease interest rates by around 160 bps. Today this

The Chinese governmental authorities have decided to crackdown on the use of cryptocurrencies in illegal foreign exchange trading. On Wednesday, December 27, 2023, the Supreme People’s Procuratorate and State Administration of Foreign Exchange directed prosecutors and forex regulators to supervise foreign exchange activities stringently. The focus is on cases where the Tether (USDT) is used

US goods export fell -3.6% mom to USD 165.1B in November. Goods imports fell -2.1% mom to USD 255.4B. Goods trade deficit widened from USD -89.6B to USD -90.3B, slightly larger than expectation of USD -89.5B. Wholesale inventories fell -0.2% mom to USD 895.7B. Retail inventories fell -0.1% mom to USD 794.9B. Full US goods

ECB Governing Council member Robert Holzmann emphasized there should be no presumption of rate reductions in the coming year. Holzmann stated, “Even if the ECB is past an unprecedented series of ten consecutive rate increases, there is also for the year 2024 no guarantee of rate reductions.” Further reinforcing this cautious approach, Holzmann remarked on

AUDUSD hits a fresh five-month peak on Thursday But oscillators have been in overbought levels for several sessions Can the rally resume or are we heading for a pullback? AUDUSD has been staging a solid recovery following its 2023 bottom of 0.6271 in October, generating a clear structure of consecutive higher highs. However, the risk of an

The GBP/USD pair continued its uptrend as the risk-on sentiment accelerated. Forex Brokers We Recommend in Your Region See full brokers list   Buy the GBP/USD pair and set a take-profit at 1.2850. Add a stop-loss at 1.2700. Timeline: 1-2 days. Set a sell-stop at 1.2780 and a take-profit at 1.2700. Add a stop-loss at

USDCHF broke key support level 0.8570 Likely to fall to support level 0.8400 USDCHF under the bearish pressure after the pair broke the key support level 0.8570 (former multi month low from July). The breakout of the support level 0.8570 accelerated both of the active impulse waves 3 and (3). Given the clear daily downtrend

EURCHF broke key support level 0.9410 Likely to fall to support level 0.9300 EURCHF recently broke the pivotal support level 0.9410 (former multi month low from July). The breakout of the support level 0.9410 accelerated both of the active impulse waves 3 and (5). Given the predominant weekly downtrend and the widespread Swiss franc gains

EUR/USD, GBP/USD, GOLD PRICE FORECAST: Treasury yields and the U.S. dollar tumble as interest rate expectations shift in a more dovish direction EUR/USD and GBP/USD rally, clearing important technical levels in the process Gold prices break above a major resistance region, setting the stage for additional gains in the near term Trade Smarter – Sign

Skerdian Meta Lead Analyst Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank’s local branch, Aksioner. Skerdian specialized in experimenting with