Overall, USD/CAD is ranging across. Recently, USD/CAD broke below the key level of 1.27. The Canadian CPI m/m data (Actual: 0.9%, Forecast: 0.6%, Previous: -0.1%) released yesterday indicated a strong rise in inflation in January. USD/CAD’s next support zone is at 1.26100 and its next resistance zone is at 1.29200. Look for short-term buying opportunities of USD/CAD.
Overall, USD/JPY is trending upwards. USD/JPY’s next support zone is at 114.200 and the next resistance zone of 116.000. Look for short-term selling opportunities of USD/JPY.
Overall, EUR/JPY is ranging across. Recently, EUR/JPY traded into the resistance zone of 131.500. The eurozone ZEW Economic Sentiment data (Actual: 48.6, Forecast: 54.4, Previous: 49.4) released yesterday indicated a further decline in the surveyed investors and analysts’ sentiment on the economic outlook for eurozone. The eurozone flash employment change q/q...
Overall, GBP/USD is ranging across. Recently, GBP/USD bounced up from the key level of 1.35. The UK employment data released yesterday indicated continued decline in the number of people claiming for unemployment benefits in February. Meanwhile, average earnings rose while unemployment rate remained unchanged. Average Earnings Index 3m/y (Actual: 4.3%, Forecast:...
Overall, GBP/JPY is ranging across. Recently, GBP/JPY bounced off the support zone of 156.000. The UK employment data released yesterday indicated continued decline in the number of people claiming for unemployment benefits in February. Meanwhile, average earnings rose while unemployment rate remained unchanged. Average Earnings Index 3m/y (Actual: 4.3%,...
Overall, NZD/USD is trending downwards. Recently, NZD/USD bounced off the resistance zone of 0.67100. The New Zealand Inflation Expectations q/q data (Actual: 3.27%, Forecast: NA, Previous: 2.96%) released last Friday indicated a higher level of inflation expectation from the Reserve Bank of New Zealand. NZD/USD’s next support zone is at 0.65400 and the next...
Overall, GBP/JPY is ranging across. Recently, GBP/JPY bounced off the support zone of 153.800. The Japanese Retail Sales y/y data (Actual: 1.4%, Forecast: 2.9%, Previous: 1.9%) released earlier today indicated a slowdown in consumer spending. The Japanese Unemployment Rate data (Forecast: TBA, Previous: 2.8%) will be released tomorrow at 0730 (GMT+8). GBP/JPY’s...
Overall, USD/CAD is ranging across. Recently, USD/CAD broke above the key level of 1.27. USD/CAD’s next support zone is at 1.26100 and its next resistance zone is at 1.29200. Look for short-term buying opportunities of USD/CAD.
Overall, AUD/USD is ranging across. Recently, AUD/USD broke the support zone of 0.71000. AUD/USD’s next support zone is at 0.68200 and the next resistance zone is at 0.71000. Look for short-term selling opportunities of AUD/USD.
Overall, EUR/USD is trending downwards. Recently, EUR/USD broke the support zone of 1.12000. EUR/USD’s next support zone is at 1.12000 and the next resistance zone is at 1.13800. Look for short-term selling opportunities of EUR/USD.
Overall, GBP/USD is ranging across. Recently, GBP/USD trended into the support zone of 1.13800. Currently, GBP/USD is testing the support zone of 1.33800 and the next resistance zone is at 1.36000. Look for short-term selling opportunities of GBP/USD if it breaks the support zone of 1.33800.
Overall, NZD/USD is ranging across. Recently, NZD/USD rejected the resistance zone of 0.67100 after the hawkish tone delivered by the U.S. FOMC. The New Zealand CPI q/q data (Actual: 1.4%, Forecast: 1.3%, Previous: 2.2%) released earlier today indicated a slowdown in the pace of inflation during the fourth quarter of 2021. NZD/USD’s next support zone is at...
A closer look at Gold price action shows XAU/USD continuing to trade within the confines of the ascending pitchfork formation extending off the November / December low. An embedded channel off the January lows (red) has guided the recent advance with the lower parallel converging on initial support today at 1826/29- a region defined by the 61.8% Fibonacci...
Overall, NZD/USD is ranging across. Recently, NZD/USD rejected the resistance zone of 0.67100. The New Zealand CPI q/q data (Forecast: 1.3%, Previous: 2.2%) will be released tomorrow at 0545 (GMT+8). Currently, NZD/USD is testing the resistance zone of 0.67100 and the next support zone is at 0.65400. If NZD/USD rejects the resistance zone of 0.67100, look for...
Overall, GBP/JPY is ranging across. Currently, GBP/JPY is testing the resistance zone of 153.800 and thenext support zone is at 151.000. If GBP/JPY bounces off the resistance zone of 153.800, look for short-term selling opportunities up until the FOMC announcement tomorrow at 0300 (GMT+8).
Overall, EUR/USD is ranging across. Recently, EUR/USD bounced up from the key level of 1.13. The series of eurozone flash PMI data releases yesterday indicated that business activities continue to expand. Also, the services sector in Germany has rebounded from contraction into expansion. French Flash Manufacturing PMI (Actual: 53.1, Forecast: TBA, Previous: 55.6...
Overall, EUR/JPY is ranging across. The French flash PMI data will be released later at 1615 (SGT). French Flash Manufacturing PMI (Forecast: TBA, Previous: 55.6 revised from 54.9) French Flash Service PMI (Forecast: TBA, Previous: 57.0 revised from 57.1) The German Flash PMI data will be released later at 1630 (SGT). German Flash Manufacturing PMI (Forecast:...
GOLD FUNDAMENTAL FORECAST: BULLISH _Gold bulls scored a second weekly win despite Treasury yields briefly surging _The Russia-Ukraine border situation is offering a geopolitical tailwind to bullion _FOMC and PCE data are likely to inject volatility into markets - will it help XAU? Gold bulls scored another win last week, with XAU/USD rising nearly a full...