TradeyMarkets

TradeyMarkets

NZD has gained in recent months from the market's improved risk outlook on global vaccine confidence. The NZD's recovery is being aided by China's stronger-than-expected trade figures. According to recent figures, May's imports and exports were likely positive. A rise in commodity prices benefits the currencies of commodity-producing countries. According to...

TradeyMarkets

Higher commodity prices will strengthen the Canadian currency. Oil prices have increased, and Canadian bond yields have risen further. In addition, the Bank of Canada stated that it was prepared to act "more firmly if necessary" to return inflation to its target level. The Bank of Canada has already raised rates by two straight half-points. According to the Ivey...

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The Reserve Bank of Australia (RBA) has adopted a hawkish stance on interest rates. The RBA raised its OCR by 50 basis points to 0.85 percent, above the 25 basis point rise predicted. In April, the Australian economy added only 4k jobs, compared to the 30k predicted. As a result, market participants saw a 25 basis point rate increase as merely tightening monetary...

TradeyMarkets

Haruhiko Kuroda, Governor of the Bank of Japan (BOJ), expressly denies expectations of monetary and fiscal policy tightening in the coming months. He said Japan is in no position to tighten monetary policy. This clearly indicates that the yen might be significantly weaker. Technically, price is currently treading above 138.938. We expect it to find resistance at...

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On Thursday, XAUUSD prices fell for the second day in a row due to some follow-through USD purchasing. The deteriorating global economic picture boosted the US dollar's standing as the world's reserve currency, undermining enthusiasm for dollar-denominated gold. Technically the yellow metal was trending with 5 waves upwards within an ascending channel. We expect a...

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AUDJPY price has broken down the channel ascending upwards so we expect a major correction towards the downside. According to Reuters, Bank of Japan Governor Haruhiko Kuroda stated on Wednesday that the worldwide spike in inflation is one of the main difficulties confronting central banks. Inconsistencies about geopolitical risks are particularly high, according...

TradeyMarkets

The Australian currency benefited from the Reserve Bank of Australia's hawkish statement that a larger interest rate rise is still conceivable in June, despite inflationary worries. However AUDUSD has been on a downward trend after completing 5 waves upwards. Technically, persistent deterioration below the 0.7130 level would put the pair at risk of hitting 0.705...

TradeyMarkets

AUDJPY is down on the day after poor housing data from China in conjunction with a weaker than expected Australian Wage Report. According to our chart AUDJPY is trading below a strong resistance zone that is 91.200 area. Based on our analysis we expect the price to trade lower to recent round numbers such around 89 area.

TradeyMarkets

The dollar is facing exhaustion as some of the traders are booking profits after the recent rate hikes by the Federal Reserve (Fed) in its recent monetary policy meetings. Price action clearly shows that USDCHF also known as "Swissie" was in a clear uptrend as shown in the chart. However price met RESISTANCE at around 1.006 area. Currently price has broken the...