Ed Ponsi, CTA
FXStreet Contributor
You need to be logged in to view this content.
Summary
Ed Ponsi discussed real-time, interactive technical and fundamental analysis of the Forex markets. View and analyze live charts and news, uncover opportunities for upcoming trades, and answer participant questions during webinar.
Latest Live Videos
Editors’ Picks
AUD/USD remains on the back foot after upbeat Aussie Q4 GDP
AUD/USD struggles to capitalize on the previous day's bounce from an over three-week trough and remains depressed during the Asian session on Wednesday. Spot prices reacted little to the Australian GDP print, which showed that the economy grew 0.8% in Q4 Vs. 0.6% expected. Rising geopolitical tensions continue to weigh on investors' sentiment, benefiting the US Dollar's safe-haven status. This continues to undermine the risk-sensitive Aussie despite the RBA's hawkish stance and favors bearish traders.
USD/JPY bulls pause near multi-week top amid intervention fears
The USD/JPY consolidates around the mid-157.00s during the Asian session on Wednesday as bulls turn cautious amid intervention fears following the recent rally to a nearly six-week high, reached the previous day. Meanwhile, reduced bets for an immediate BoJ rate hike undermine the Japanese Yen, while the flight to safety benefits the US Dollar's status as a global reserve currency amid expectations for a less dovish Fed, acting as a tailwind for the currency pair.
Gold moves closer to $5,150 amid sustained safe-haven flows
Gold climbs back above $5,100 during the Asian session on Wednesday, moving away from an over one-week low, touched the previous day. Sustained safe-haven flow, amid escalating geopolitical tensions in the Middle East, acts as a tailwind for the bullion. However, a bullish US Dollar and reduced bets for more aggressive easing by the US Fed might keep a lid on the non-yielding yellow metal ahead of the US ADP report and ISM Services PMI later today.
Ethereum: Whales step up buying as short positions contract
After holding firm heading into the last weekend, Ethereum whales have returned to action, pouncing on the volatility stemming from escalating military actions between the US and Iran.
Energy shock 2.0: Why rising Gas prices could hit the Euro Premium
Even without a confirmed, sustained disruption, the mere risk to a key global energy chokepoint is enough to inject a significant premium into European Gas markets. And for the Euro, that matters.
Here is what you need to know on Wednesday, March 4:
The US Dollar (USD) is drawing safe-haven support amid sharply escalating tensions in the Middle East, prompting renewed investor concern.