Historic levels for the Nasdaq usher in a wave of skepticism amongst the hosts of Power Trading radio! Merlin and John offer their perspectives on what it means to have the market at these levels and what traders should be looking at. Listeners also ask questions on zero interest rates, market crashes, and inverse market Leaps.
Editors’ Picks
EUR/USD extends slide below 1.1700
The EUR/USD pair nears its weekly low at around 1.1660 in the American session on Tuesday, retreating from the 1.1750 price zone tested earlier in the day. Cautiously optimistic markets support the US Dollar in the near term.
GBP/USD consolidates around 1.3500; looks to US macro data for fresh impetus
The GBP/USD pair oscillates in a narrow range, around the 1.3500 psychological mark during the Asian session on Wednesday, and for now, seems to have stalled the previous day's retracement slide from its highest level since September 18. Moreover, the fundamental backdrop seems tilted in favor of bullish traders and suggests that the path of least resistance for spot prices is to the upside.
USD/JPY advances above 156.50 as risk-on sentiment undermines Japanese Yen
The USD/JPY pair gains ground to near 156.65 during the early Asian session on Wednesday. The Japanese Yen softens against the US Dollar as the impact of the shock US capture of Venezuelan President Nicolas Maduro over the weekend was short-lived, undermining the safe-haven currency. Traders brace for the US ISM Services Purchasing Managers Index report on Wednesday ahead of the US jobs data.
Editors’ Picks
AUD/USD drops and pops after softer Aussie CPI, near 0.6750
AUD/USD reverses a quick downtick to near the 0.6720 region to test 15-month highs at around 0.6750 in Wednesday's Asian session. The pair experiences light volatile trading following the release of softer Australian consumer inflation figures, which tempered bets that the RBA could opt for a rate hike next month.
USD/JPY advances above 156.50 as risk-on sentiment undermines Japanese Yen
The USD/JPY pair gains ground to near 156.65 during the early Asian session on Wednesday. The Japanese Yen softens against the US Dollar as the impact of the shock US capture of Venezuelan President Nicolas Maduro over the weekend was short-lived, undermining the safe-haven currency. Traders brace for the US ISM Services Purchasing Managers Index report on Wednesday ahead of the US jobs data.
Gold sees profit-taking decline after facing rejection at $4,500
Gold price sees a decline on profit-taking after facing rejection at $4,500 in the Asian trading hours on Wednesday. Despite the pullback, the traditional safe haven remains underpinned by geopolitical tensions and expectations of Fed rate cuts. The US ADP Jobs data, JOLTS Job Openings Survey and ISM Services Purchasing Managers Index report will be published on Wednesday.
Pump.fun prepares for early-year rally as DEX volume skyrockets
Pump.fun (PUMP) is rising alongside crypto majors such as Bitcoin (BTC) and is trading above $0.002400 at the time of writing on Tuesday. The Decentralized Exchange (DEX) native token outlook builds on a bullish tone developed since December 30.
Implications of US intervention in Venezuela
Events in Venezuela are top of mind for market participants, and while developments are associated with an elevated degree of uncertainty, we are not making any changes to our markets or economic forecasts as a result of the deposition of Nicolás Maduro.
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