GPD report that came out yesterday was worse than expected -1.4% (historically GDP and GOLD are inversely correlated), hence bullish for Gold. After Gold dropped nearly 7% within a week and DXY running against it, we do see some exhaustion at the current point. With next week's hiking interest rate and FMOC meeting as catalysts, TA formed a Gartley Harmonic...
The misery continues for the New Zealand dollar, which is down almost 1% on Thursday. NZD/USD has fallen below the 0.65 level and has plunged 6.54% in the month of April. ANZ Business Confidence was unchanged in April, with a reading of -42.0. That means close to half of New Zealand businesses are pessimistic about the economic outlook over the next 12 months....
Hi everyone, many news today: dollar killing it despite the Negative Advanced GDP today. I am certainly not a happy bunny today since I am attempting to go short on USDJPY (It should drop next). Markets doing just fine (the good news) after META and other major stocks released good earning reports. Situation in Ukraine remains scary and hopefully ends, or at...
The US Session is giving us a clear sign of strong selling pressure. This week is going to be extremely important in terms of earning, also tomorrow we will see the GDP Data coming out potentially lower for the USA. Volatility remains high so I would suggest using larger SL and lower risk in terms of contracts and lot-sizes.
As you can see, the next target of the dollar index has been reached and is now trading in the 103 range. Note that this range is the highest level in the last 5 years and we have to see if the high inflation in the United States can cause the break of this 5-year resistance level or not ... Follow us for more analysis & Feel free to ask any questions...
The British economy performed better than expected in the fourth quarter. Final GDP rose by 1.3% in Q4 of 2021, upwardly revised from the first quarterly estimate of a 1.0% gain. Final GDP beat the forecast of 1.0%. On an annualized basis, GDP in 2021 jumped 7.4%, a massive turnaround from -9.3% in 2020. The economy has almost completely recovered from the...
The New Zealand dollar has extended its gains for a second straight day. NZD/USD is trading just above the 0.68 line in the North American session. As expected, the Federal Reserve raised rates for the first time since 2018. Fed Chair Powell said he expects inflation to start to ease and that the Fed had a plan to raise rates during the course of the year....
GBP/USD has reversed directions on Thursday, giving up most of the gains from a day earlier. In the North American, session, GBP/USD is trading at 1.3132, down 0.41% on the day. In the US, headline CPI continued to accelerate, with a gain of 7.9% for February YoY. This matched the forecast and was up from 7.5% beforehand. With inflation running close to 8%, a...
GBP/USD has reversed directions on Thursday, giving up most of the gains from a day earlier. In the North American, session, GBP/USD is trading at 1.3132, down 0.41% on the day. In the US, headline CPI continued to accelerate, with a gain of 7.9% for February YoY. This matched the forecast and was up from 7.5% beforehand. With inflation running close to 8%, a...
Japan's factory output declined for a second consecutive month as supply disruptions continue to take a toll on manufacturing. Industrial production for January fell 1.3% m/m, worse than the consensus of -0.7%. There was no relief from retail sales for January, which dropped 1.9% m/m, compared to the forecast of -1.2%. Covid health restrictions contributed to the...
Until U.S. debt loads get to more normalized levels (below 80%) and the 10Y treasury yield has a far enough spread from the short-end of the curve, the Federal Reserve's hand is almost forced in what they can do from a rate tightening perspective.
Normally, when inflation is high, the Federal Reserve will increase the FEDFUNDS rate which discourages banks borrowing money in order to fund investments. This in turn discourages lending and generally increases borrowing costs across the economy - including borrowing costs for the national debt. When you subtract it from the YoY inflation numbers, you can see...
The Canadian dollar is flat on Wednesday, trading at 1.2685 in the North American session. Canada's GDP outperformed in November, but the positive news wasn't enough to move the sleepy Canadian dollar. GDP expanded by 0.6%, above the consensus of 0.4%. The growth was broad-based across the economy and GDP has now pushed above its pre-pandemic level in February...
It was a week to forget for the Canadian dollar. USD/CAD jumped 1.51%, marking the Canadian dollar's worst weekly performance since mid-August. The currency is in positive territory, as USD/CAD is down 0.31% on the day. Canada releases the Raw Materials Price Index later today. The inflation index is expected to decline -1.3%, following a -1.1% beforehand. This...
The price action of the GBPUSD is busy developing a new downtrend, following FED's January policy decision and the better-than-expected GDP numbers in the U.S. for Q4. The downtrend is taking the form of a 1-5 impulse wave pattern, as postulated by the Elliott Wave Theory. Following the decisive breakdown below the 61.8 per cent Fibonacci retracement level at...
in the past few years, USDCNH usually found a turning point in the 1st Q, especially around the Chinese New Year. Today there is a big rally in USDCNH. Reuters report, FX conversion before the week-long Lunar New Year holiday, which starts on Jan. 31, has been traditionally heavier as exporters need to settle their dollar receipts for goods payments and employee...
In an unregulated space where digital numbers are sold to the people with USDT and unregulated stable coins - While the US overthrows nations that try to issue their own currencies or nationalize their resources - Here we have the GDPs of dozens of developing nations being absorbed within hours by so called "whales"... Only whales I am seeing are corrupt US...
I hate writing in this the chart explains it self. no predictions needed.