The publication of the US Federal Reserve Meeting Minutes has reminded the world that the Fed is debating a reduction of interest rates and a stop to the reduction of the central bank's balance sheet. The reminder caused a decline of the US Dollar's value. In combination with the strong support of the 1.2590/1.2610 range, the fundamental event caused a surge
The publication of the US Federal Reserve Meeting Minutes has reminded the world that the Fed is debating a reduction of interest rates and a stop to the reduction of the central bank's balance sheet. The reminder caused a decline of the US Dollar's value. On the EUR/USD charts the pair had additional support of the 1.0900 mark and a recovery
Despite hosting a recovery at the end of the year, the price for gold has returned back below 2,060.00. Economic Calendar Analysis At the start of 2024, notable events start on Wednesday. At 15:00 GMT, watch the Institute for Supply Management Manufacturing Purchasing Managers Index survey results and the JOLTS Job Openings number. Note that the two releases could cause a major
The broader surge of the US Dollar has continued due to a stock sell off that was caused by a downgrading of Apple stock by Barclays. On the USD/JPY charts it has resulted in a surge above 142.50. Economic Calendar At the start of 2024, notable events start on Wednesday. At 15:00 GMT, watch the Institute for Supply Management Manufacturing Purchasing Managers
The decline of the GBP/USD currency exchange rate has reached the support of the 1.2590/1.2610 zone. Economic Calendar At the start of 2024, notable events start on Wednesday. At 15:00 GMT, watch the Institute for Supply Management Manufacturing Purchasing Managers Index survey results and the JOLTS Job Openings number. Note that the two releases could cause a major impact, if both shows
The EUR/USD decline has extended below the 1.1000 mark, as the year started with a surge of the US Dollar against other assets. However, the pair appears to have found support in the 1.0930/1.0935 zone. Economic Calendar Analysis At the start of 2024, notable events start on Wednesday. At 15:00 GMT, watch the Institute for Supply Management Manufacturing Purchasing Managers Index survey
At the end of the year US firms book losses on assets to reduce their annual profit and taxable income. It occurs by selling stocks, bonds, other currencies on last day of the year and buying them back on the first day of trading. Namely, big players are selling everything against the Dollar, which is boosting the USD value. As a
At the end of the year US firms book losses on assets to reduce their annual profit and with it the taxable income. It occurs by selling stocks, bonds, other currencies on last day of the year and buying them back on the first day of trading. Namely, big players are selling everything against the Dollar, which is boosting the
At the end of the year US firms book losses on assets to reduce their annual profit and taxable income. It occurs by selling stocks, bonds, other currencies on last day of the year and buying them back on the first day of trading. Namely, big players are selling everything against the Dollar, which is boosting the USD value. The GBP/USD
At the end of the year US firms book losses on assets to reduce their annual profit and with it the taxable income. It occurs by selling stocks, bonds, other currencies on last day of the year and buying them back on the first day of trading. Namely, big players are selling everything against the Dollar, which is boosting the
The price for gold has continued to move higher. Most recently, the commodity revealed that there is a resistance zone at 2,084.35/2,088.30. The resistance held and by mid-Thursday the bullion was looking for support in the 2,075.00 level. Economic Calendar Analysis There are no notable events scheduled for this week. XAU/USD short-term forecast A resumption of the larger scale surge would once
The USD/JPY appears to have been impacted by the usually insignificant publication of the Richmond Manufacturing Index. The index is a survey of 55 manufacturers. It was revealed to the world that these firms expect twice as worse future than expected. It was the needed info for the pair to start a move. It started to decline and by mid-Thursday
The GBP/USD eventually passed above the 1.2780/1.2795 range, the 1.2800 mark and the weekly R1 simple pivot point at 1.2812. Moreover, the rate had shortly traded above the August high level of 1.2819. However, the pair appears to have overextended its move, as on Thursday morning it retraced to the 1.2780/1.2795 range where it was looking for support. Economic Calendar There are
The surge of the EUR/USD currency pair continues, as it has reached a new high level. Namely, the pair passed above the 1.1100 mark and confirmed it as support. By mid-Thursday, the rate had touched the 1.1140 level. Economic Calendar Analysis There are no notable events scheduled during the holiday week. EUR/USD hourly chart analysis The pair is set to face the resistance of
The surge of the price for gold face the resistance of the 2,070.00 level. However, most recently, the 50-hour simple moving average has been pushing the commodity up and could cause a breaking of the resistance. Economic Calendar Analysis There are no notable events scheduled for this week. XAU/USD short-term forecast In the case of a surge above 2,070.00, the 2,075.00 and
The USD/JPY kept respecting the resistance of the 50-hour simple moving average during early trading of the week. However, the SMA eventually broke and turned into support. Economic Calendar There are no notable events scheduled to occur this week. USD/JPY hourly chart analysis The 50-hour SMA could push the rate up into testing the resistance of the weekly simple pivot point at 143.23, before
It has been spotted that since late Friday's trading, the GBP/USD currency pair has been finding support in the 50 and 100-hour simple moving averages. Meanwhile, on Wednesday the 200-hour SMA caught up to the pair from below. Economic Calendar There are no notable events scheduled for the holiday week. GBP/USD hourly chart analysis In the case of the moving averages pushing the rate
The EUR/USD currency pair has reached a new high level, as the 1.1008/1.1017 has provided support and caused a move above 1.1050. Economic Calendar Analysis There are no notable events scheduled during the holiday week. EUR/USD hourly chart analysis An extension of the ongoing surge might be slowed down by the 1.1100 mark, before the pair approaches the weekly R2 simple pivot point at
The price of gold remains below resistance at 2.045.10/2,047.75 and above support at 2,027.20/2,030.00. In general, the situation and forecasts are unchanged. Economic Calendar Analysis On Friday, the United States Bureau of Economic Analysis will publish the Core Personal Consumption Expenditure Price Index at 13:30 GMT. The change of the index shows how inflation impacts consumers. It is different from the CPI
The 144.30/145.00 range has caused a decline of the pair which has passed one support level after another. By mid-Thursday, the pair had reached the 142.00 mark. Economic Calendar On Friday, the United States Bureau of Economic Analysis will publish the Core Personal Consumption Expenditure Price Index at 13:30 GMT. The change of the index shows how inflation impacts consumers. It is
The 1.2750 level held and caused a decline of the Pound. Moreover, the decline was massively impacted by the lower than expected UK Consumer Price Index release. Namely, markets expected annual inflation to be down from 4.6% to 4.3%, but the actual number was 3.9%. The major decline of inflation signals that the central bankers of the United Kingdom could
Instead of heading straight to the 1.1000 mark, the EUR/USD consolidated and found support in the 1.0930/1.0935 range. The range held and on Thursday the pair finally reached the 1.1000 mark, which was pierced at mid-day. Economic Calendar Analysis On Friday, the United States Bureau of Economic Analysis will publish the Core Personal Consumption Expenditure Price Index at 13:30 GMT. The change
By looking at technical charts it can be seen that a broad weakness of the US Dollar across the markets against peer currencies has pushed the price for gold higher. However, some attribute the move to the Houthi attack on shipping in the Red Sea. Highly likely that it is a combination of the two factors, as only gold has
The Japanese central bank has announced that it would continue with its ultra-loose monetary policy despite a widely discussed expectations of an end to the stimulus. Governor of the BoJ Ueda stated that the policymakers were waiting for more evidence of wage and price increases that would justify a change of policy. The Japanese Yen's value adjusted to the announcement with