The US dollar faces its biggest weekly decline in months against the euro, yen and franc. This comes after investors began selling in anticipation of a near 100 basis point interest rate cut in the United States expected next year. By Friday, the dollar had fallen 1.6% from a week earlier, trading at $1.0854 against the euro, its steepest decline since...
GBP/CHF Long • If price impulses up, it does so in a convincing manner and a tight flag forms, then I'll be looking to get long with either a reduced risk entry on the break of the flag or a risk entry within it. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I...
British Prime Minister Jeremy Hunt is expected to announce plans to release billions of GBP from welfare funds to boost economic growth next week: Hunt is looking to boost UK economic growth by allowing funds to invest more heavily in the UK Hunt claims that growth will be his top priority However, the Treasury refused to comment on news of Prime Minister Hunt's plan.
Bank of Japan Governor Ueda said: It cannot be said that the weak yen will have a negative impact on the Japanese economy. A weaker yen promotes domestic inflation due to higher import costs. Weak yen has a positive impact on exports and profits of Japanese companies globally We do not comment on exchange rate fluctuations As we get closer to our inflation...
GBP/CHF Long • If price pushes down to and ideally just below our area of value, then regardless of how it does so I'll be waiting for a convincing impulse back up followed by a tight flag and then I'll be looking to get long with either a reduced risk entry on the break of the flag or a risk entry within it. • If my entry requirements are not met then I will...
Tuesday's dovish US inflation report increased confidence that the Federal Reserve can effectively manage consumer prices without harming the economy. This so-called "Goldilocks" scenario is neither too hot nor too cold and is considered beneficial for both stocks and bonds. The asset class posted strong gains in November after continued uncertainty, fueled by...
Information regarding the Biden-Xi meeting was also reported during the meeting, and an overall assessment was made that in addition to ``open'' discussions, there had been progress on many fronts. However, in a subsequent press conference, Biden reiterated that Chinese Communist Party President Xi Jinping is a dictator. Today's key data is the Australian...
Weak US CPI weighs on dollar The dollar took a big hit on Tuesday after data showed U.S. consumer prices were flat in October after rising 3.7% in September, while the dollar rose 3.2% year-on-year. , fell below expectations. The stability of inflation is the most important factor in predicting the Fed's chances of maintaining its tightening stance,...
GBP/USD Short • If price pushes up to and ideally just above our area of value, then regardless of how it does so I'll be waiting for a convincing impulse back down followed by a tight flag and then I'll be looking to get short with either a reduced risk entry on the break of the flag or a risk entry within it. • If my entry requirements are not met then I will...
Statement from Japan's Minister of Economy on the third quarter GDP report: It should be noted that the threat of global recession is depressing the Japanese economy Domestic demand, including consumption and investment funds, decreased significantly in the third quarter Personal consumption slumps due to rising prices Industrial production is under...
UBS: In 2024, the USD will become less appealing. Based on comparatively solid US economic data, UBS believes that the dollar will be maintained in the upcoming months. But, given the notable slowdown in US economic statistics and the Fed's policy stance, we also need to be cautious about the possibility that the USD would fall slightly as 2024 approaches. Right...
As UK economic growth flattens rather than declines as predicted, the GBP is strengthened. For additional hints, investors are awaiting data on jobs and inflation. The third quarter saw a sharp reduction in investment by local businesses as a result of uncertain demand. The economy of the nation is doing better than expected, which helps the GBP. Despite a pretty...
Amidst increasing market excitement around the potential adoption of a spot ETF in the US, the total amount of Bitcoins held by funds has reached an all-time high. ByteTree data indicates that in October, holdings of Bitcoin in funds reached a new high of 863,781 BTC, or around $31.71 billion, up more than 20,000. ProShares' Bitcoin Strategy ETF (BITO), with...
GBP/CHF Long • If price pushes down to and ideally just below our area of value, then regardless of how it does so I'll be waiting for a convincing impulse back up followed by a tight flag and then I'll be looking to get long with either a reduced risk entry on the break of the flag or a risk entry within it. • If my entry requirements are not met then I will...
Yomiru: Japan plans to reduce taxes for businesses that increase wages A source from the Yomiuri website said that the Japanese Government is considering tax reductions for companies that increase wages by 8%. The Japanese government wants to encourage wage increases as part of its fight to promote sustained and stable inflation. If the wage increase is widely...
Investors currently believe there is a 91% likelihood the Fed will maintain current interest rates. The USD Index closed at 105,660 on the global market at 6:32 a.m. Vietnam time on November 13, down 0.02%. The US Federal Reserve (Fed) keeps its "hawkish" approach, there are no new developments in Middle East tensions, and the USD keeps becoming stronger. Fed...
GBPCAD has shown a clear weakness in bullish trend times making a slowed volume push and has shown clear bearish volume shorts put in by traders. I believe the trend will be now reversed and only clear a higher low for GBPCAD. Please use proper risk management when entering the trade. GBPCAD Sell/Short Entry: 1.69312 Stop Loss: 1.70333 Target: TP:...
DXY D1 This week, our perspective on the USD remains consistent with last week's analysis. The dollar demonstrated a bullish W1 close, while remaining firmly within the confines of the breakout and reversal structure on the lower timeframes (LTF). The 106 resistance level continues to stand its ground, and we maintain an optimistic outlook for USD pairs this...