Talking-Forex.com
Talking-Forex.com
Much of the day was spent in range bound trade, but the USD index was on the rise late in the day. AUD/USD looked to be on the back foot from early London trade, and having rejected .7600 in Asia, we then went on to take out .7500, but support levels not too far off from here. NZD followed, but ahead of the Fonterra auctions Tuesday, there was not too much aggressive intent here. The CAD suffered also, as Oil prices turned lower. Both the CAD and WTI are trading at higher levels overall, so not major support levels giving way here. EUR/USD and Cable were moving in lockstep for most of the day, with the former drifting back under 1.1100 again, but finding support below the figure. Cable is finding support ahead of 1.4300 for now, but losses here have stretched to a little over a cent from Friday’s highs through 1.4400. Much focus on USD/JPY this week with the BoJ overnight and the FOMC later in the week. Comments from PM advisor Hamada that he does not expect the BoJ to ease further at present put a cap on the pair around 113.80, with Asia gains topping our around 114.00. The crosses were all pretty quiet, with EUR/CHF notably drifting away from 1.1000 levels again.
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 clings to gains above 1.0750 after US data
EUR/USD manages to hold in positive territory above 1.0750 despite retreating from the fresh multi-week high it set above 1.0800 earlier in the day. The US Dollar struggles to find demand following the weaker-than-expected NFP data.
GBP/USD declines below 1.2550 following NFP-inspired upsurge
GBP/USD struggles to preserve its bullish momentum and trades below 1.2550 in the American session. Earlier in the day, the disappointing April jobs report from the US triggered a USD selloff and allowed the pair to reach multi-week highs above 1.2600.
Gold struggles to hold above $2,300 despite falling US yields
Gold stays on the back foot below $2,300 in the American session on Friday. The benchmark 10-year US Treasury bond yield stays in negative territory below 4.6% after weak US data but the improving risk mood doesn't allow XAU/USD to gain traction.
Bitcoin Weekly Forecast: Should you buy BTC here? Premium
Bitcoin (BTC) price shows signs of a potential reversal but lacks confirmation, which has divided the investor community into two – those who are buying the dips and those who are expecting a further correction.
Week ahead – BoE and RBA decisions headline a calm week
Bank of England meets on Thursday, unlikely to signal rate cuts. Reserve Bank of Australia could maintain a higher-for-longer stance. Elsewhere, Bank of Japan releases summary of opinions.