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Forex
AUD drops on Employment Figures
The Aussie Dollar has seen a drop in its price due to wage and unemployment data released over the past day and a half. The economic data shows that unemployment has fallen to its lowest level in nearly 50 years with the jobless rate at 3.4% compared to analysts expecting the figure to remain at 3.5%. Wages also rose modestly in the last quarter to...
August 18, 2022Read More >USDJPY provides potential trade after holding a key Fibonacci level
The USDJPY has been in an extremely strong upward trend since September 2021. This pair's recent price action has also been charactarised by relatively weak retracements as it has trended higher. Inflationary pressures have acted as a strong catalyst for the USD against most other currencies further aided by the Federal Reserve taking a strong stan...
August 12, 2022Read More >Buying opportunity on the GBPAUD
Buying opportunity on the GBPAUD A short/medium term trading opportunity has arisen on the GBPAUD. The Pound has been weakening after the Bank of England came out last week and forecast that the economy would fall into a 15 month recession later this year. Whilst the bearish sentiment was somewhat of shock it was not totally unexpected...
August 12, 2022Read More >Bitcoin showing signs of a reversal.
Bitcoin has seen a large tumble in its price since it reached its peak of $70,000, however there are signs that the price may be ready to break out of its downtrend. Background With rising inflation and a tense geopolitical climate, growth equities and risk assets have felt the pinch and Bitcoin has been right in the...
August 9, 2022Read More >What is going on with Taiwan?
What is going on with Taiwan? Taiwan is back in the news after US speaker of the house Nancy Pelosi visited the country causing a fiery reaction from the mainland of China. Historical background In order to understand the causes of the China/Taiwan tension, some historical perspective is needed. The current te...
August 4, 2022Read More >Reserve Bank of Australia hikes Cash Rate by 0.50%
The Reserve Bank of Australia, (RBA) has increased the Country’s cash rate by half a percent to combat the rising inflation in its latest cash rate change. The increase was in line with most analyst’s expectations as the RBA continues to fight inflation and bring it back into the 2-3% range. The current forecast from the RBA...
August 2, 2022Read More >US dollar drops as the economy shrinks by 0.9% for the last quarter.
US economic data revealed last night shows that the country’s GDP has shrunk by 0.9%, although some are remaining positive that a recession may still be avoided. Despite the worrying figures, Federal Reserve Chair, Jerome Powell, outlined his belief that due to low unemployment figures of 3.6% and a strong market for jobs with 11 million job open...
July 29, 2022Read More >Australian CPI figures increase to 6.1%
The Australian Consumer data was released today with Consumer Price Index rising to 6.1% over the past 12 months. For the quarter, the CPI rose by 1.8% which was 0.1% lower then what analysts expected the figure to be. This was also lower then the 2.1% jump seen in the previous March quarter. The most significant contributors to the increase were n...
July 27, 2022Read More >Is the AUDUSD ready to reverse?
Recent History The USD has been on a tear in recent months as volatile market conditions have sent the currency rocketing. Inflationary pressures and recession fears have seen investors turn to the USD whilst at the same time taking off risk from the AUD. The AUD's drop has also been further is largely due to a decrease in the price of commodities...
July 21, 2022Read More >Market jumps on the back of weak USD and better then expected earnings
The US stock market saw one of its best days in months, as speculation swirled that the 'bottom' may be in. The indices gained their momentum from better-than-expected earnings and a weakening of the USD, with the USDX dropping to $106.58. With more earnings still to come better than expected results may see the S&P500 and markets break out of ...
July 20, 2022Read More >AUD/USD finds new buyers at the 0.70 price mark
As depicted in the AUD/USD hourly chart above, the pair has recently reached a monthly low of 0.69117 as it enters today’s European session. As it continues to decrease in value, it generates a sloping resistance line at 0.6970, this is the trendline from Friday’s prices. Although the trend might appear bearish at the moment, the MACD in...
June 14, 2022Read More >GBPAUD – Containing A Sudden AUD Price Surge
Markets Eager To Resume As the Easter holidays fade, we quickly saw a market resurgence of traders looking to resume normality. Perhaps one of the more stand-out movers during today's London session was none other than the Pound Aussie cross (GBPAUD). Following the Reserve Bank of Australia's announcement to hold interest rates at 0.1%, the recent...
April 7, 2021Read More >GBPCAD – G10’s Best Performing Currencies Lock Horns
GBPCAD – Hourly Individually, both the British Pound and the Canadian Dollar have surged in recent trading sessions, appearing relatively strong against their peers in the short-term. With the latest fundamental data suggesting both currencies have benefited from similar economic drivers, it could be tough to navigate a directional bias for GB...
February 11, 2021Read More >AUDNZD – Kiwi Returning To The Status Quo
AUDNZD – Daily Despite the Australian Dollar having a strong rally towards the end of last year, it appears the New Zealand Dollar is once again regaining the upper hand against its counterpart. New Zealand is ticking many of the economic boxes of late, and from a fundamental point of view, it's not hard to envisage a return of strength for th...
February 3, 2021Read More >EURGBP – Sterling Applying The Pressure
EURGBP – Hourly Since the 12th of January, we've seen much choppy price action in the EURGBP cross, with Pound Sterling applying the more significant selling pressure. This shorter-term bearish bias is what we'll be looking at in today's Chart of The Day using the hourly time frame. Firstly, we can see the initial DiNapoli target of 0.8854 ...
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