Forex Market News and Analysis

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Wed, 08 Feb 2023 12:04:32 GMT

USD/JPY looks for support on daily chart

The comments made by Jerome Powell on Tuesday at an interview caused a drop of the US Dollar. On the USD/JPY currency exchange rate charts it resulted in a decline to the combined support of the 130.50 level and the 100-hour simple moving average. Economic Calendar There are no scheduled events, which might impact the currency exchange rate. Hourly Chart A move below

Wed, 08 Feb 2023 11:59:03 GMT

GBP/USD recovers, as traders short it

The GBP/USD recovered due to the interview with Jerome Powell, which caused a decline of the US Dollar. During the interview, Powell reiterated his stance that there would be smaller rate hikes for a prolonged time period instead of high interest rates for a shorter time period. As a result, the GBP/USD revealed a support zone and has surged to

Wed, 08 Feb 2023 11:53:35 GMT

EUR/USD faces resistance near 1.0760

The interview of Jerome Powell on Tuesday caused high volatility of the EUR/USD, which has resulted in the rate recovering to the 1.0750 level. Economic Calendar Analysis During the week there are no scheduled major events, which might impact the currency rate. EUR/USD hourly chart A move above the 1.0762/1.0766 range, which captures Tuesday's reversal zone, might encounter resistance in the 1.0800 mark and

Wed, 08 Feb 2023 11:47:25 GMT

Gold breaks resistance zone

The price for gold was highly volatile during the recent interview of Jerome Powell. On Wednesday morning, the commodity price managed to reach above and confirm the 1,878.50/1,881.15 zone as support. A move higher by the commodity price might encounter resistance in the 1,890.00 level and the 100-hour simple moving average, before reaching the 1,900.00 mark. On the other hand, a decline

Wed, 08 Feb 2023 11:33:43 GMT

USD/JPY declines to 130.50

The comments made by Jerome Powell on Tuesday at an interview caused a drop of the US Dollar. On the USD/JPY currency exchange rate charts it resulted in a decline to the combined support of the 130.50 level and the 100-hour simple moving average. A move below 130.50 and the 100 and 200-hour simple moving average might look for support in

Wed, 08 Feb 2023 11:23:36 GMT

GBP/USD reveals support zone

The GBP/USD recovered due to the interview with Jerome Powell, which caused a decline of the US Dollar. During the interview, Powell reiterated his stance that there would be smaller rate hikes for a prolonged time period instead of high interest rates for a shorter time period. As a result, the GBP/USD revealed a support zone and has surged to

Wed, 08 Feb 2023 11:12:12 GMT

EUR/USD reacts to Powell's speech

The interview of Jerome Powell on Tuesday caused high volatility of the EUR/USD, which has resulted in the rate recovering to the 1.0750 level. A move above the 1.0762/1.0766 range, which captures Tuesday's reversal zone, might encounter resistance in the 1.0800 mark and the 100-hour simple moving average. Higher above, note the 200-hour SMA and the 1.0850 level. However, a

Wed, 08 Feb 2023 09:30:05 GMT

Japan confirms market interventions

The Japanese government has revealed that in October it made a record intervention in the forex market by selling $48 billion USD against the Yen.

Wed, 08 Feb 2023 06:30:12 GMT

BNP Paribas misses expectations

The stock price of BNP Paribas became highly volatile after the company missed its quarterly results, but increased its targets for 2025.

Tue, 07 Feb 2023 14:30:06 GMT

French strikers disrupt power supply

Strikes against pension reforms in France have caused major disruptions in the country's energy sector.

Tue, 07 Feb 2023 12:56:43 GMT

UN reports on NK crypto theft

The United Nations have reported that North Korea experienced a record breaking 2022 in its cryptocurrency theft operations by stealing a total of $3.8 billion.

Tue, 07 Feb 2023 12:18:57 GMT

Gold consolidates at 1,860.00/1,880.00.

The price for gold appears to be consolidating between two zones. The price has been between 1,860.00 and 1,880.00 since the Friday's fundamental drop, which was caused by the US monthly employment data. Economic Calendar Analysis There are no close by scheduled events that might impact the value of the US Dollar and the price of gold. XAU/USD short-term forecast A move above

Tue, 07 Feb 2023 12:15:25 GMT

USD/JPY finds support near 131.50

The USD/JPY reached a new high on Monday, as it tested the 133.00 level. However, the level held and a retracement downwards occurred. On Tuesday morning, the currency pair was finding support in a zone near 131.50 and the 50-hour simple moving average. Economic Calendar There are no scheduled events, which might impact the currency exchange rate. Hourly Chart A resumption of the

Tue, 07 Feb 2023 12:10:05 GMT

GBP/USD decline extends below 1.2000

On Tuesday, the GBP/USD bounced off the resistance of the 1.2050 level and declined below 1.2000. The rate is heading to new lower low levels. Economic Calendar The release of the UK GDP on Friday at 07:00 GMT is bound to impact this rate from the Pounds side. GBP/USD short-term view Support could be found in the 1.1950 level, the weekly S1 simple pivot

Tue, 07 Feb 2023 12:04:36 GMT

EUR/USD passes major support levels

The major volatility of the EUR/USD has ended. The pair has started a steady decline, which respects round price levels. On Tuesday morning, the pair had reached the 1.0700 mark, which acted as support. Economic Calendar Analysis During the week there are no scheduled major events, which might impact the currency rate. EUR/USD hourly chart A move below the 1.0700 mark could look for

Tue, 07 Feb 2023 12:00:08 GMT

Bed Bath & Beyond raises money

In an effort to avoid bankruptcy Bed Bath & Beyond has announced that it would raise $1 billion through a stock offering. The company's stock price jumped 92.14% on Monday, prior to declining nearly 40.00% after trading hours.

Tue, 07 Feb 2023 11:57:01 GMT

Gold consolidates near 1,870.00

The price for gold appears to be consolidating between two zones. The price has been between 1,860.00 and 1,880.00 since the Friday's fundamental drop, which was caused by the US monthly employment data. A move above 1,880.00 is expected to encounter resistance in the 1,900.00 mark, before the metal reached January high levels. On the other hand, a decline of the

Tue, 07 Feb 2023 11:51:30 GMT

USD/JPY consolidates near 132.00/133.00

The USD/JPY reached a new high on Monday, as it tested the 133.00 level. However, the level held and a retracement downwards occurred. On Tuesday morning, the currency pair was finding support in a zone near 131.50 and the 50-hour simple moving average. A resumption of the US Dollar surge, the pair would face the resistance zone near 133.00. Higher above,

Tue, 07 Feb 2023 11:40:21 GMT

GBP/USD trades below 1.2000

On Tuesday, the GBP/USD bounced off the resistance of the 1.2050 level and declined below 1.2000. The rate is heading to new lower low levels. Support could be found in the 1.1950 level, the weekly S1 simple pivot point at 1.1928 and the round levels 1.1900 and 1.1850. Meanwhile, a potential recovery of the Pound against the US Dollar could encounter resistance

Tue, 07 Feb 2023 11:35:32 GMT

EUR/USD reaches 1.0700

The major volatility of the EUR/USD has ended. The pair has started a steady decline, which respects round price levels. On Tuesday morning, the pair had reached the 1.0700 mark, which acted as support. A move below the 1.0700 mark could look for support in the 1.0650 level and the weekly S2 simple pivot point, before approaching the 1.0600 and

Tue, 07 Feb 2023 10:00:55 GMT

Drug companies face losses

Various drug companies have revealed that they are expecting a decline of sales in 2023 due to the world no longer requiring COVID-19 medicine.

Mon, 06 Feb 2023 14:30:10 GMT

Tesla continues to cut prices

Tesla officials in South Korea have revealed that they are continuing to further decrease the prices for their car models.

Mon, 06 Feb 2023 12:30:08 GMT

Apple expects profit decline

The US tech giant Apple has revealed that the company expects another decline in its revenue, despite solving iPhone production problems.

Mon, 06 Feb 2023 10:30:08 GMT

Tech companies reveal add market information

Recent quarterly results published by Meta and Alphabet have revealed that the global digital advertisement market has continued to decline.

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