Bearish scenario: Selling below 150.30 with TP1: 150.00... Bullish scenario after retracement: Intraday buys above 149.40 with TP: 150.00, TP2: 151.00...
The Reserve Bank of Australia (RBA) is widely anticipated to maintain its current interest rates at 4.35% following its two-day meeting concluding on Tuesday. Despite holding rates steady since December, the RBA has hinted at the possibility of further rate hikes due to persistently high inflation, which has exceeded its target range of 2% to 3%.
Bearish scenario: Sales below 80.00 with TP1: 79.60... Anticipated bullish scenario: Intraday purchases above 80.70 with TP: 81.50...
Bearish scenario: Shorts below 18100 with TP1: 17900... Anticipated bullish scenario: Intraday Longs above 18130 with TP...
Gold prices bounced back on Wednesday, reaching $2,173.60 after briefly dipping to $2,150.00. Traders speculate that the US Federal Reserve (Fed) might reduce borrowing costs, but a recent report showing higher-than-expected inflation in the US could delay such actions. Despite signs of a cooling labor market, the US economy remains robust, with inflation
Ahead of the release of US February Retail Sales data, the US Dollar (USD) is showing a modest recovery. Analysts at BBH assess the potential impact of the upcoming data on the USD. A soft reading in spending could prompt another downward correction in the USD, as it might indicate a weakening consumer sentiment. Market expectations...
Bullish scenario: Intraday buys above 2160.00 with TP: 2171 and TP2: 2177 // Bearish scenario: Sells below 2177 with TP1: 2150, TP2: 2142, and 2126
The US Bureau of Labor Statistics (BLS) reported that the Consumer Price Index (CPI) in the US increased to 3.2% year-over-year in February from 3.1% in January. The Core CPI, which excludes volatile food and energy prices, rose 3.8% year-over-year, slightly below January's 3.9% but above market expectations of 3.7%. Both the CPI and Core CPI also rose by 0.4% on a monthly basis.
The USD Index (DXY) dipped below the 103.00 support level for the first time since early February, indicating a significant decline in the US dollar. The focus on March 8 will be on the release of Non-farm Payrolls, the Unemployment Rate, and a speech by the Fed’s J. Williams. EUR/USD reached new multi-week highs near 1.0950 after the ECB decided to maintain...
Fundamental analysis and technical analysis of EURUSD, ERGBP and EURCAD
Bullish Scenario: Intraday buys above 149.80 with TP: 150.50, TP2: 150.80, and TP3: 151.00 and 151.90 medium-term. Bearish Scenario: Sales below 150.50 with TP1: 149.80, TP2: 149.17, and 147.62 medium-term
The month of February saw markets make several instinctive moves as well as create opportunities for proper leveraging of fundamental releases. Despite being a leap-year, there wasn’t any real impact on price delivery in the course of the month. As we await the opportunities that lie ahead in the month of March, here are a few thoughts to consider.
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