Following softer-than-expected U.S. inflation data this week, the market now prices in just a 10% chance of the Federal Reserve hiking rates this month. The AUD/USD currency pair consolidated Friday following recent gains this week, boosted by tamer-than-expected U.S. inflation readings that significantly reduced the chances of a July rate hike. Bullish sentiment accelerated midweek…
The USD/BRL has displayed an enchanting technical chart recently for day traders who feel they are experienced enough to pursue the currency pair. The past month of results in the USD/BRL had shown reactive trading which has correlated to the broad market, along with its rather impulsive behavior driven by domestic sentiment by Brazilian financial…
There is something unusually persistent about the current move in GBP/USD. What looked for a while like another test of a familiar ceiling now appears to be turning into something more durable, as the British Pound continues to hold its ground while the US Dollar loses more value. The important shift is not just that…
Bullish view Buy the BTC/USD pair and set a take-profit at 70,000. Add a stop-loss at 60,000. Timeline: 1-2 days. Bearish view Sell the BTC/USD pair and set a take-profit at 60,000. Add a stop-loss at 70,000. Bitcoin price rose slightly and crossed the important resistance of $65,000 as traders embraced a risk-on sentiment after…
Bearish view Bullish view The AUD/USD pair rose and retested the important resistance level of 0.700 as the US dollar softened following the latest inflation data. It has rebounded by 2% from its lowest level this month as traders readjusted their Federal Reserve outlook. US Inflation Falls, But Iran War Poses a Challenge The AUD/USD…
This is what the News Catalyst Fade looks like when economic news drives price against the trend, so we can open a position WITH the trend. Today, let’s take a closer look. In today’s Market Outlook, let’s take a look at Forex trading on WTI, Brent Crude Oil, GBPCAD, GBPAUD, NZDUSD, and GBPNZD. Without going…
US retail sales increased modestly in June, suggesting consumer spending continued to expand despite elevated interest rates and lingering uncertainty surrounding energy prices. Advance estimates from the Census Bureau showed retail and food services sales rose 0.2% mom to USD 768.6 billion, matching market expectations. The gain followed an upward revision to May’s increase to…
The Eurozone’s trade balance swung into deficit in May as imports surged while exports remained broadly flat, highlighting the growing impact of higher import costs on the region’s external accounts. Eurostat’s preliminary estimates showed a EUR 7.8 billion deficit in goods trade with the rest of the world, a sharp reversal from the EUR 15.0…
Institutional trading venue Spotex has announced the appointment of Joe Tuccio as Head of Digital Assets. Joe joins the US-based firm at a pivotal stage in its growth, as Spotex builds on its established expertise in FX and precious metals to expand its institutional offering across digital assets. Joe Tuccio is currently Head of Digital…
The New Zealand dollar has seen buying pressures again on Wednesday, as we are looking at the RBNZ and waiting to see if the hawkish tone continues. NZD/USD The New Zealand dollar has rallied again during the trading session on Wednesday as we are now peaking above the 200-day EMA just as we had done…