DOLLAR_INDX, H4 7 March 2024
The Dollar Index has descended to its lowest point in a month, currently trading below 103.50 levels. The dollar faced significant downward pressure primarily due to the dovish stance communicated in Powell's testimony that began yesterday. Powell indicated an expectation that the U.S. central bank will initiate rate cuts this year....
CL OIL, H4
In the latest session, oil prices saw a decline of over 1.3%, following a surge prompted by OPEC+'s announcement to extend its supply cut measures. The downturn is attributed to profit-taking activities among traders as oil prices neared their highest point since last November. Market participants are closely monitoring the ongoing developments from...
USD/JPY, H4
The USD/JPY pair continues to move within a broad sideways range as traders await a catalyst to determine the pair's direction. The recently released Tokyo Core CPI reading, which came in at 2.5%, aligning with market expectations and marking an increase from the previous 1.8%, has sparked speculation of a potential rate hike from the Bank of Japan...
EUR/USD, H4
The Euro remains in a holding pattern as investors await crucial monetary policy decisions from the European Central Bank later this week. Anticipated to maintain steady interest rates, the ECB faces the challenge of easing inflation. ECB Vice President Luis de Guindos emphasises the need for more data on Eurozone inflation, currently at 2.6%, before...
GBP/USD, H4
The Pound Sterling maintains a positive trajectory, supported by an optimistic economic outlook articulated by UK Prime Minister Rishi Sunak. Sunak emphasized that the UK economy is on the right track, hinting at potential tax cuts in the upcoming budget. Despite the lack of clarity on budget details, investors are advised to vigilantly monitor...
XAU/USD, H4
Gold prices have undergone a significant rally, approaching the historic high at $2146.80. The surge is fueled by market sentiment speculating on the potential for the Federal Reserve's first rate cut in June. Investors eagerly await cues from both Wednesday's testimony by Powell and Friday's Non-Farm Payrolls report to assess the likelihood of a...
DOLLAR_INDX, H4
The Dollar Index hovered within a remarkably tight range as investors braced for significant events in the week ahead. All eyes are on the Federal Reserve Chair, who is scheduled to testify before Congress. Market participants widely speculate that the Fed Chief will emphasise the central bank's commitment to its monetary tightening stance. The...
DOLLAR_INDX, H4
The Dollar Index faced a decline last Friday as the market's risk sentiment underwent a shift.
Discouraging ISM manufacturing PMI readings weighed on the dollar, prompting investors to sell the currency and turn their attention to riskier assets. Throughout the upcoming week, several members of the Federal Reserve are scheduled to deliver...
USD/JPY, H4
USD/JPY experiences uncertainty due to mixed monetary policy statements from Bank of Japan
members. While Hajime Takata signals a potential exit from ultra-loose policy with the inflation
target in sight, Governor Kazuo Ueda provides a contradictory view, emphasising the need for
confirmation in a positive wage-inflation cycle. This mixed sentiment...
gbpchf has the potential to form an inverted head and shoulder so that the price can be expected to increase
buying area 1.24728-1.24888
selling area 1.25867-1.25913
