Talking-Forex.com
Talking-Forex.com
Following on from Friday’s losses we saw further weakness in equities and commodities to weigh on the risk FX pairs. Led by USD/JPY, early consolidation across the majors soon evaporated, with the European banking sector leading losses in the Euro bourses while the energy stocks suffered on fresh falls in oil. Trading through the 116.00’s, we eventually took out the figure level, initially running into support below here. Large exotic out-strikes seen from 115.50-15.00. EUR/USD initially tested higher on early spot JPY sales, but EUR/JPY losses through 130.00 eventually dragged the respective USD rate back into the low 1.1100’s. Bids here held firm, and even after an eventual breach of 1.1100, we were back higher again. Cross/JPY sales were a dominant force today. CAD losses stretched into the upper 1.3900’s, but pre 1.4000 offers contained despite a sub $30.0 WTI. CAD/JPY stopped just shy of 83.00. Not a good day for GBP as EU fears return. Cable struggled ahead of 1.4500, falling back through the 1.4400’s to 1.4350 through the day, but a large chunk of the flow looked to come through GBP/JPY, falling from pre-170.00 levels to sub 167.00. EUR/GBP managed to get within 4-5 ticks of the Jan peak at .7742. EM back on the rack, with the commodity related currencies faring the worst. MXN and ZAR losses stood out, closely followed by the RUB.
The information within this website has been prepared and issued by Talking Forex on the basis of publicly available information and other sources believed to be reliable. Whilst all reasonable care is taken to ensure that the facts stated are accurate, neither Talking Forex nor any director, officer or employee shall in any way be responsible for its contents. This document is intended to provide clients with information and should not be construed as an offer or solicitation to buy or sell securities.You may cancel your service at any time, just contact us from the FAQ/support page quoting your registration email address and we will cancel your subscription as of the next billing cycle or refund your trial deposit.
Recommended Content
Editors’ Picks
EUR/USD trades with negative bias, holds above 1.0700 as traders await US PCE Price Index
EUR/USD edges lower during the Asian session on Friday and moves away from a two-week high, around the 1.0740 area touched the previous day. Spot prices trade around the 1.0725-1.0720 region and remain at the mercy of the US Dollar price dynamics ahead of the crucial US data.
USD/JPY jumps above 156.00 on BoJ's steady policy
USD/JPY has come under intense buying pressure, surging past 156.00 after the Bank of Japan kept the key rate unchanged but tweaked its policy statement. The BoJ maintained its fiscal year 2024 and 2025 core inflation forecasts, disappointing the Japanese Yen buyers.
Gold price flatlines as traders look to US PCE Price Index for some meaningful impetus
Gold price lacks any firm intraday direction and is influenced by a combination of diverging forces. The weaker US GDP print and a rise in US inflation benefit the metal amid subdued USD demand. Hawkish Fed expectations cap the upside as traders await the release of the US PCE Price Index.
Sei Price Prediction: SEI is in the zone of interest after a 10% leap
Sei price has been in recovery mode for almost ten days now, following a fall of almost 65% beginning in mid-March. While the SEI bulls continue to show strength, the uptrend could prove premature as massive bearish sentiment hovers above the altcoin’s price.
US core PCE inflation set to signal firm price pressures as markets delay Federal Reserve rate cut bets
The core PCE Price Index, which excludes volatile food and energy prices, is seen as the more influential measure of inflation in terms of Fed positioning. The index is forecast to rise 0.3% on a monthly basis in March, matching February’s increase.