Powell’s hawkish speech dashed hopes for a 50-bps rate cut in November. Data from the US showed a tight labor market. Middle East tensions increased demand for the safe-haven dollar. The GBP/USD weekly forecast shows a sudden shift in sentiment to the downside as the dollar regains its shine. Ups and downs of GBP/USD The

The foreign exchange market remains quiet despite global geopolitical and economic shifts. The yen carry trade unwind in August led to a temporary market pullback and recovery. Japanese pension fund may face challenges as the yen strengthens, impacting foreign investments. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on

Created on October 03, 2024 Buy the AUD/USD pair and set a take-profit at 0.7000. Add a stop-loss at 0.6800. Timeline: 1-2 days. Set a sell-stop at 0.6880 and a take-profit at 0.6800. Add a stop-loss at 0.7000. The Australian dollar pulled back on Thursday, continuing a trend that has been going on after it

BoE governor Bailey said the central bank could become aggressive on cuts if inflation falls. The US ADP non-farm employment increased by 143,000 in September. Economists expect the US economy to add 148,000 jobs in September. The GBP/USD forecast shows a sudden spike in bearish momentum after Bank of England governor Bailey’s dovish comments. At

The yen strengthened slightly on Friday but was heading for an over 2.5% weekly loss. Consensus estimates indicate a 148,000 increase in US employment for September.  Japan’s Prime Minister Ishiba has dashed hopes for a near-term rate hike.  The USD/JPY outlook shows a pause near recent peaks ahead of crucial US monthly employment figures. The

Created on October 04, 2024 The New Zealand dollar broke down a bit during the course of the trading session on Thursday, as it looks like we are going to reach towards the 0.62 level. The 0.62 level is an area that previously has been resistant, and therefore it should have a certain amount of

Created on October 04, 2024 Gold fell a bit during the early hours on Thursday as we continue to see a lot of volatility and chop overall. That being said, keep in mind that gold has been in an uptrend for quite some time, I would suggest that we have multiple support levels underneath that

US service PMI data came in at 54.9, well above the forecast of 51.7. Market participants are pricing a 65% chance of a 25-bps rate cut in November.  Canada’s services PMI fell from 47.8 to 46.4 in August. The USD/CAD price analysis shows bulls charging ahead as the dollar firms after upbeat US business activity

Created on October 04, 2024 Potential Signal I’d be more apt to buy this currency pair if we can touch the 0.59 level. At that juncture, I would have a stop loss right at the 50 Day EMA, and I would be aiming for a short-term move toward the 0.6020 level. During my daily analysis

Created on October 04, 2024 The S&P 500 initially pulled back just a bit during the early hours on Thursday, only to turn around and show signs of life. The 5700 level continues to be an area of interest as it was previous resistance, and therefore, I think the market memory comes in and the

Yesterday the day started with the Swiss CPI inflation report, which showed a 0.3% decline in September, further putting pressure on the Swiss National Bank to reduce interest rates. That kept the CHF down throughout the day, with USD/CHF heading for the top of the range, helped by USD demand and markets turning away from

Created on October 03, 2024 The EUR/USD currency pair has been declining since the beginning of the week due to risk-off flows, weak September inflation figures in the region, and mixed leading employment indicators in the United States. The upcoming ADP non-farm employment change report, which is expected to show a slight rebound in employment

Created on October 03, 2024 The US dollar has recently rebounded amid risk-off sentiment fuelled by geopolitical tensions, particularly in the Middle East, causing the GBP/USD currency pair to lose much of its recent gains. The pair has retreated to the support level of 1.3199 at the time of writing this analysis. Its gains until

Bank of Japan policymakers have shifted their tone to a less hawkish one. Most economists expect the central bank to cut borrowing costs before the year ends.  The dollar surged Wednesday after the ADP employment figures came in higher than expected. The USD/JPY outlook shows a shift in sentiment regarding Bank of Japan rate hikes

Created on October 03, 2024 Gold prices stabilized around $2,655 per ounce today, Thursday, remaining relatively close to their all-time highs as the escalating crisis in the Middle East continues to bolster the metal’s appeal as a safe haven. Earlier this week, Iran launched a missile attack on Israel, prompting Israel to intensify strikes across

Created on October 03, 2024 The euro fell again during the trading session on Wednesday as we are testing the 50-day EMA. This is an indicator that a lot of people will be paying close attention to, and it is also sitting just above a major round figure in the form of 1.10. Ultimately, this

EURUSD retested the 1.12 level many times, but it is heading for 1.10 now after buyers failed to make a clear break of that resistance zone. Now the fundamentals have turned bearish for the Euro, as the Eurozone economy continues to remain pretty weak, while market expectations for another 50 bps FED rate cut in

Created on October 03, 2024 Silver was somewhat bullish during the early hours on Wednesday, but quite frankly, this is a market that continues to see resistance at the same area. The $32.50 level continues to be a major barrier to get above and right now, it doesn’t look like we can do so. After