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Fed Minutes

Trade War

Currency market: EUR/USD, GBP, AUD, CAD and ECB results

Brian Twomey Brian's Investment

Most vital to EUR/USD is 1.1485, 1.1721, and 1.1951. For AUD/USD 0.7312, 0.7441 and 0.8108. AUD performed well over the last week due to a wide trade range. Longs and shorts became available while EUR became stuck.

USD/CAD is contained from 1.2209, 1.2461, and 1.3058. NZD/USD is the worst in the lineup by 0.6847, 0.7081, 0.7253. USD/CAD is the last currency to rely on the market. It is a market document. Bloomberg, Thomson, and others report Canada's Corra rate. A waste of money as more information is required for CAD and CAD/EM day trades.

GBP/USD 1.3840 remains the price to beat topside. Failure to break above then this price will slowly travel lower. Below is located at 1.3777 and 1.3082. GBP/USD breaks 1.3840 would also see EUR/USD break 1.1721 and NZD 0.7200's. but not likely anytime soon.

The concept to central banks is to take 24-hour trades to the next level to expand to 30 ish hours and 2 trades. Completed as usual without the faulty charts. A lifetime of work remains yet to complete. If Forward traders require ECB prices then why not eliminate the ECB and factor Forward trades instead.

EUR/USD 5 numbers today 1.1544, 1.1563, 1.1576, 1.1632 and 1.1661.

GBP/USD 1.3694, 1.3717, 1.3732, 1.3799 and 1.3834. GBP/USD 1.3840 won't break on this day.

USD/CAD 1.2318, 1.2338, 1.2353, 1.2412 and 1.2444.

EUR/USD at 10:am is expected 1.1645 and 1.1609. EUR/JPY 132.39 and 132.03. What changed under central bank control.

ECB results

As reported by the ECB for 15 currency pairs, forecast 24 hours in advance. EUR pairs were slightly off however remaining pairs were near perfect. 3 currencies were perfect. EUR/USD price Friday was off by 1 pip. The mystery to the currency price is central bank control as they contain the ability to perform any function necessary.

GBP/USD 1.3754 was actually 1.3751. GBP/JPY was only off 9 pips and not bad for the monster.

To know the price is to know the next trade, 24 hours in advance.

Nasdaq 15150.00 – 15064.00. Actual 15168.55 to 15070.75.

EUR/USD 1.1629 -1.1647. Actual 1.1603, off 26 pips.

EUR/JPY 132.57 – 132.13. Actual 131.88, off 25.

GBP/CAD 1.7043 -1.7003. Actual 1.7003. Perfect.

USD/JPY 113.99 -113.61. Actual 113.66, off 5 pips.

USD/CAD 1.2372 – 1.2338. Actual 1.2365, off 7 pips.

GBP/NZD 1.9273 -1.9209. Actual 1.9240, off 31 pips from lows.

AUD/USD 0.7496 – 0.7467. Actual 0.7483, off 13 pips from highs.

USD/CHF 0.9176 – 0.9158. Actual 0.9192, off 16.

GBP/JPY 157.22 – 156.38. Actual 156.29, off 9 pips.

GBP/AUD 1.8461 – 1.8394. Actual 1.8375, off 19.

EUR/GBP 0.8455 – 0.8431. Actual 0.8438, off 7.

CAD/CHF 0.7432 – 0.7409. Actual 0.7434. Off 2. Perfect.

EUR/AUD 1.5573 – 1.5523. Actual 1.5505. Off 18.

GBP/USD 1.3794 – 1.3754. Actual 1.3751, Perfect.

CAD/JPY 92.25 – 91.84. Actual 91.92, off 8 pips.

Author

Brian Twomey

Brian's Investment

Brian Twomey is an independent trader and a prolific writer on trading, having authored over sixty articles in Technical Analysis of Stocks & Commodities and Investopedia.

EUR/USD stays well offered below 1.1800

The selling pressure on EUR/USD is picking up pace, with the pair slipping decisively below the key 1.1800 level and sliding to fresh two week lows as Wednesday’s session draws to a close. The move lower comes as the US Dollar finds renewed strength after the latest round of US data and the release of the FOMC Minutes. Next of note on the docket will be the US weekly Initial Jobless Claims.

GBP/USD reaches multi-day lows near 1.3500

GBP/USD reverses its initial upside momentum and is now adding to previous declines, approaching the 1.3500 region on Wednesday. Cable’s downtick comes on the back of decent gains in the Greenback and easing UK inflation figures, which seem to have reinforced the case for a BoE rate cut in March.

Gold battle to regain $5,000 continues

Gold is back on the front foot on Wednesday, shaking off part of the early week softness and challenging two-day highs near the $5,000 mark per troy ounce. The move comes ahead of the FOMC Minutes and is unfolding despite an intense rebound in the US Dollar.

Australia unemployment rate set to edge up within overall strong labor market

The Australian monthly employment report is scheduled for release on Thursday at 00:30 GMT, and market participants anticipate a modest increase in jobs in January. The Australian Bureau of Statistics is expected to announce that the country added 20K new jobs in the month, while the Unemployment Rate is forecast at 4.2%, up from the 4.1% posted in December.

Mixed UK inflation data no gamechanger for the Bank of England

Food inflation plunged in January, but service sector price pressure is proving stickier. We continue to expect Bank of England rate cuts in March and June. The latest UK inflation read is a mixed bag for the Bank of England, but we doubt it drastically changes the odds of a March rate cut.

Sui extends sideways action ahead of Grayscale’s GSUI ETF launch

Sui is extending its downtrend for the second consecutive day, trading at 0.95 at the time of writing on Wednesday. The Layer-1 token is down over 16% in February and approximately 34% from the start of the year, aligning with the overall bearish sentiment across the crypto market.