UKOUSD – 17 Jun 2024
UKOUSD 17 Jun 2024 On the weekly timeframe, UKOUSD is still moving sideways slightly below the kumo cloud. Although it has not managed to rally to break the kumo, the commodity is at a price position of 82.425 after experiencing another bearish trend reversal. On the stochastic indicator, the chart appears to be rising towards […]
China’s Central Bank Holds Key Rates Amid Economic Challenges
China’s Central Bank Holds Key Rates Amid Economic Challenges. China’s central bank kept its key policy rates unchanged on Monday, indicating a likely hold on the benchmark lending rate later this month. The People’s Bank of China (PBOC) injected 182 billion yuan ($25.09 billion) into the financial system via its medium-term lending facility, maintaining an […]
XAGUSD – 14 Jun 2024
XAGUSD 14 Jun 2024 On the daily timeframe, XAGUSD (silver) has continued to decline since the end of last month after bouncing down when it touched the resistance line. Despite several bullish trend reversals, the bearish trend still seems to be more dominant. Currently, silver is at a price position of 28.923 and is still […]
New Zealand’s Manufacturing Sector Faces Prolonged Contraction in May
New Zealand’s manufacturing sector continued its downward trend in May, extending a prolonged period of contraction, according to the latest BNZ – BusinessNZ Performance of Manufacturing Index (PMI). The PMI for May fell to 47.2, down from 48.8 in April, marking the sector’s 15th consecutive month of contraction. A reading below 50 indicates contraction, and […]
USDNOK – 13 Jun 2024
USDNOK 13 Jun 2024 On the weekly timeframe, USDNOK remains within the R1 and R2 ranges, with no significant movement capable of bringing the pair up to break R2 or down past R1. At the moment, USDNOK is inside a kumo after experiencing a trend reversal to bearish, with a price position of 10.59073. The […]
Stocks Surge Despite Fed’s Limited Rate Cut Projections
Stocks Surge Despite Fed’s Limited Rate Cut Projections. Stocks soared as investors digested the latest report from the US Federal Reserve and reacted positively to new inflation data. The Federal Reserve maintained its benchmark interest rate at 5.50% but signaled just one interest rate cut for this year, down from the prior projection of three […]
USDSEK – 12 Jun 2024
USDSEK 12 Jun 2024 On the daily timeframe, USDSEK is seen still moving sideways under the kumo cloud, indicating that the pair has not been able to strengthen and break through the kumo. The pair continues to experience trend reversal, and is currently at 10.48634. Based on the stochastic indicator, there appears to be a […]
Euro’s Stability Minimizes Inflation Impact
Euro’s Stability Minimizes Inflation Impact. The euro’s minor movements against the U.S. dollar before and after the European Central Bank’s decision to lower its key rate are too small to affect inflation in the eurozone, ECB Chief Economist Philip Lane stated on Tuesday. The ECB’s recent move to reduce its key rate to 3.75% from […]
USDSGD – 11 Jun 2024
USDSGD 11 Jun 2024 On the daily timeframe, USDSGD is still experiencing sideways movement and is inside the kumo cloud. This pair is experiencing price fluctuations caused by market volatility. After various ups and downs, USDSGD is currently at a price position of 1.35306. The pair seems to be in a bullish trend which is […]
European Markets Drop Amid Political Instability
European Markets Drop Amid Political Instability. European stock markets and the euro fell early Monday after far-right parties advanced in the European elections and President Emmanuel Macron’s alliance suffered major losses, leading him to call a snap election. In early trade, the euro dropped 0.5% against the dollar to a one-month low of $1.0747, according […]
USDJPY – 10 Jun 2024
USDJPY 10 Jun 2024 On the daily timeframe, USDJPY is still seen moving sideways between the R1 and R2 levels since last March. The pair has been rising and falling as a result of high market volatility. At the moment, USDJPY is at a price position of 157.140 after successfully breaking out of the kumo […]
Japanese Economy Stagnates in Q1 2024
Japanese Economy Stagnates in Q1 2024. Revised government data released on Monday showed that the Japanese economy shrank at nearly the same rate as initially estimated in the January-March quarter of 2024, primarily due to sluggish spending by both households and companies. Real gross domestic product (GDP) contracted by 1.8% on an annualized basis in […]
XAUUSD – 7 Jun 2024
XAUUSD 7 Jun 2024 On the daily timeframe, XAUUSD is still showing a bullish trend that has strengthened since two days ago. The price of gold rose and began to move away from the kumo cloud to the current price position of 2379.95. Looking at the stochastic indicator, the chart is almost touching the 80 […]
China’s Export Growth Surges in May
China’s Export Growth Surges in May. China’s exports grew at a faster pace in May, driven by resilient global demand, while import growth decelerated. Outbound shipments rose 7.6% from a year earlier, up from a 1.5% increase in April, according to the General Administration of Customs on Friday. This surpassed the 4.8% growth expected by […]
EURCHF – 6 Jun 2024
EURCHF 6 Jun 2024 On the daily timeframe, EURCHF failed to resume its bullish trend after experiencing a trend reversal yesterday. The pair is back inside the kumo cloud and occupies a price position of 0.96979. On the stochastic indicator, EURCHF is below the 20 level, which indicates an oversold condition. This situation suggests a […]
Forex Markets Drop US Dollar Ahead of Nonfarm Payrolls Report
Forex Markets Drop US Dollar Ahead of Nonfarm Payrolls Report. The GBP/USD pair surged to a three-month high of $1.2820 on Tuesday before easing lower on Wednesday. Forex traders are diversifying away from the US dollar, favoring alternative currencies like the British pound. The pound’s recent strength breached a technical pattern known as a “Double […]
AUDUSD 5 Jun 2024
AUDUSD 5 Jun 2024 On the weekly timeframe, AUDUSD is seen still inside the kumo cloud and is currently at a price position of 0.66589. The pair managed to reverse the trend to bullish two weeks ago, but has yet to show significant gains that could take it out of the kumo cloud. When referring […]
Australia’s Economy Barely Grows Amid High Rates and Inflation
Australia’s Economy Barely Grows Amid High Rates and Inflation. Australia’s economy barely registered growth in the first quarter, hindered by high interest rates and persistent inflation pressures. The Australian Bureau of Statistics reported Wednesday that the economy grew by just 0.1% on-quarter and 1.1% on-year, falling short of the consensus expectations of 0.2% and 1.2%, […]
GBPUSD – 4 Jun 2024
GBPUSD 4 Jun 2024 on the daily timeframe, this pair managed to reverse the trend to bullish at the end of last week. The pair is well above the kumo cloud, which indicates that the bullish trend will continue. At the moment, GBPUSD is sitting at 1.28096, with the stochastic chart still rising towards the […]
U.S. Manufacturing Activity Contracts Further in May
U.S. Manufacturing Activity Contracts Further in May. Activity among U.S. manufacturers contracted again in May, and at a sharper rate, suggesting that the economy remains fragile. The Institute for Supply Management (ISM) reported Monday that its purchasing managers’ index (PMI) of manufacturing activity dipped to 48.7 from 49.2 in April. A reading below 50 indicates […]
EURUSD – 3 Jun 2024
EURUSD 3 Jun 2024 On the daily timeframe, EURUSD looks to be in a bullish trend and looks to continue strengthening. The pair is at a price position of 1.08540, with the potential to continue rising towards the resistance line. The stochastic chart also supports this bullish trend, showing a rise towards the 80 level. […]
Euro Zone Bond Yields Hold Steady Ahead of Key ECB Rate Decision
Euro Zone Bond Yields Hold Steady Ahead of Key ECB Rate Decision. Euro zone bond yields remained largely unchanged on Monday as investors awaited the European Central Bank’s decision on Thursday, where policymakers are expected to cut interest rates from the current record high of 4%. This anticipated decision has created a cautious atmosphere among […]
NZDUSD – 31 May 2024
NZDUSD 31 May 2024 on the daily timeframe, the pair experienced a trend reversal when it touched the Resistance line. Failing to break the resistance and continue to rally, the pair bounced down to 0.61264. However, the pair is still above the kumo cloud, indicating that the long-term trend remains bullish. Bullish signals are again […]
China Imposes Export Controls on Aviation Tech to Enhance Security
China Imposes Export Controls on Aviation Tech to Enhance Security. China will impose export controls on billions of dollars worth of aviation equipment, technology, and software starting July 1, aiming to enhance national security. The controls will cover dozens of products, including aircraft engines, gas turbine engines, astronaut helmet visors, and polyethylene fiber used in […]
USDCNH – 30 May 2024
USDCNH 30 May 2024 USDCNH on the daily timeframe, it appears that this pair has continued to strengthen since initiating a bullish trend two weeks ago. The pair rose to a price position of 7.27264 before finally bouncing down after touching the Resistance line. Despite the trend reversal to bearish, the pair is still above […]
Tech Stocks Soar as Bond Yields Rise
Tech Stocks Soar as Bond Yields Rise. The Nasdaq Composite (IXIC) surged to a new all-time high on Tuesday, as investors flocked to tech stocks. The index soared past 17,000 points for the first time, closing at 17,019.88. This rally was primarily driven by Nvidia (NVDA), which saw its stock jump 7% to a record […]
GBPAUD – 29 May 2024
GBPAUD 29 May 2024 On the weekly timeframe for GBPAUD, the pair has been moving sideways since the beginning of this year. The pair is moving in a range between 61.8 and 100.0 levels on the Fibonacci retracement, keeping its position from dropping through the levels below. At the moment, a bearish signal is seen […]
New Zealand Businesses Report Falling Price
New Zealand Businesses Report Falling Price. New Zealand businesses reported declining price pressures and reduced wage demands in May, potentially paving the way for the Reserve Bank of New Zealand (RBNZ) to lower interest rates sooner than anticipated. The May ANZ business outlook survey revealed that firms are feeling the strain of soaring interest rates […]
AUDUSD – 27 May 2024
AUDUSD 27 May 2024 AUDUSD on the daily timeframe, shows that the pair appears to be experiencing a trend reversal as it tries to rally and break the support line in the previous few sessions. However, the pair is still above the Kumo Cloud and managed to occupy the price position of 0.66382 after re-initiating […]
Global Markets Brace for Busy Data Week as May Ends
Global Markets Brace for Busy Data Week as May Ends. As May draws to a close, a busy data schedule will drive markets, featuring the U.S. PCE price index, China PMIs, central bank speakers, and month-end rebalancing flows. On Monday, Bank of Japan Governor Kazuo Ueda and Deputy Governor Shinichi Uchida will speak at the […]
USDJPY – 24 May 2024
USDJPY 24 May 2024 Looking at the current market situation on USDJPY on the weekly timeframe, it shows that the pair is above the Kumo Cloud with a fairly strong bullish trend after successfully reversing the trend a few weeks ago. The pair is currently at a price position of 157.076 and looks set to […]
Nvidia Announces 10-for-1 Stock Split After Earnings Surge
Nvidia Announces 10-for-1 Stock Split After Earnings Surge. Nvidia, the leading chip maker, announced a 10-for-1 stock split as a strategy to make its shares more accessible after their value surged 25 times over the past five years. This move comes on the heels of a stellar earnings report, revealing an impressive 262% year-over-year revenue […]
GBPUSD – 23 May 2024
GBPUSD 23 May 2024 GBPUSD on the daily timeframe, shows that the pair managed to break out of the Kumo Cloud after experiencing a long bullish trend since the beginning of this month. The pair managed to occupy the price position of 1.27271 and is still likely to continue the bullish trend. However, it can […]
South Korea Central Bank Holds Rate Amid Strong Economy
South Korea Central Bank Holds Rate Amid Strong Economy. South Korea’s central bank held its base rate steady as widely expected, following data that showed the economy is performing better than anticipated, thereby signaling a delay in its pivot towards policy easing. On Thursday, the Bank of Korea maintained its benchmark seven-day repurchase rate at […]
EURUSD – 22 May 2024
EURUSD 22 May 2024 EURUSD on the weekly timeframe, shows that the pair is still moving within the range between the R1 and R2 resistance levels. This pair had experienced a bullish trend in the previous sessions which managed to bring the price to the position of 1.08696. However, there is now a bearish signal […]
Canada’s Inflation Hits Three-Year Low as Food Prices Cool
Canada’s Inflation Hits Three-Year Low as Food Prices Cool. Canada’s annual inflation rate has decelerated to its slowest pace in three years, driven by a significant reduction in food-price growth, which has offset rising fuel costs. According to Statistics Canada, the consumer price index (CPI) in April increased by 2.7% compared to the same month […]
USDCAD – 21 May 2024
USDCAD 21 May 2024 Looking at the current market situation of USDCAD on the daily timeframe, analysis shows that the pair is experiencing a bullish trend and is trying to break out of the Kumo Cloud. This is also reinforced by the chart display on the Stochastic indicator which shows a rise towards the 80 […]
RBA Warns of Rising Inflation Risks but Keeps Rates Steady
RBA Warns of Rising Inflation Risks but Keeps Rates Steady. The Reserve Bank of Australia (RBA) has cautioned that inflation risks have heightened while the overall economic outlook remains highly uncertain. Minutes from the RBA’s policy meeting held on May 6-7 revealed the central bank’s decision to maintain the official cash rate at 4.35%, aligning […]
USDHKD – 20 May 2024
USDHKD 20 May 2024 Looking at the current situation on USDHKD on the daily timeframe, it shows that the pair has been able to reverse the trend to bullish after a significant bearish run, which brought it down well below the Kumo Cloud. Although still at a price position of 7.79919, there seems to be […]
China Holds Rates Steady Amid Property Market Boost
China Holds Rates Steady Amid Property Market Boost. China’s benchmark lending rates remained unchanged this month, according to central bank data released on Monday. This decision follows Beijing’s recent aggressive measures to address ongoing challenges in the property sector. The one-year loan prime rate (LPR) held steady at 3.45%, while the five-year rate remained at […]
BTCUSD – 17 May 2024
BTCUSD 17 May 2024 Looking at the current market conditions on BTCUSD on the daily timeframe, it shows that Bitcoin had experienced a trend reversal to bearish yesterday, but has been able to turn bullish again earlier today. However, the Stochastic indicator shows that Bitcoin has touched the 80 level, which indicates that the market […]
Bitcoin Surges Over 8% as Inflation Data Spurs Risk Asset Rally
Bitcoin Surges Over 8% as Inflation Data Spurs Risk Asset Rally. Bitcoin prices (BTCUSD) soared more than 8% on Wednesday, as crypto traders aggressively bought tokens in response to fresh inflation data. The leading cryptocurrency surged from $61,300 to a session high of $66,300 per coin, marking a two-week peak and surpassing the 50-day moving […]
USOUSD – 16 May 2024
USOUSD 16 May 2024 analysis of USOUSD on the daily timeframe, shows that this commodity is still trying to continue to strengthen and break through the Kumo Cloud. This commodity is now in a bullish trend which is reinforced by the appearance of the Stochastic chart which is above the 50 level and heading towards […]
China Bester Group Transfers 5% Stake to Baiyang for CNY 437.7 Million
China Bester Group Transfers 5% Stake to Baiyang for CNY 437.7 Million. China Bester Group Telecom’s controlling shareholder, Li Liubing, is set to transfer 5% of his holdings in the company to Baiyang Investment Management. The transaction, valued at 437.7 million yuan, was detailed in a Wednesday filing on the Shanghai Stock Exchange. The 5% […]
EURNZD – 15 May 2024
EURNZD 15 May 2024 A look at the current market for EURNZD on the daily timeframe shows that the pair has failed to rally further and break out of the Kumo Cloud after returning to a bearish trend since two days ago. Referring to the Stochastic chart, we see a decline after failing to cross […]
Alibaba’s Profit Plummets Despite Revenue Growth in E-commerce and Cloud Sectors
Alibaba’s Profit Plummets Despite Revenue Growth in E-commerce and Cloud Sectors. Alibaba Group reported a significant drop in profits for its latest quarter, even as the company experienced a rise in revenue across its key e-commerce, cloud, and logistics businesses. In its fiscal fourth quarter ending March, Alibaba’s net income plunged 86% from the previous […]
EURCHF – 14 May 2024
EURCHF 14 May 2024 on the weekly timeframe, shows that the pair managed to break out and break the Kumo Cloud and is at a price position of 0.98020. The pair is in a bullish trend that looks strong, supported by the Stochastic chart strengthening towards the 80 level. This indicates that the pair still […]
Novavax Stock Surges on $1.4 Billion Sanofi Deal
Novavax Stock Surges on $1.4 Billion Sanofi Deal. Pharmaceutical companies experienced a notable surge in market capitalization within a single day, reflecting a broader trend of volatility and recovery in the sector after significant losses since reaching a record high in 2021. Novavax, a prominent vaccine maker listed on the Nasdaq under the symbol NVAX, […]
NZDUSD – 13 May 2024
NZDUSD 13 May 2024 Looking at the current market conditions the analysis of NZDUSD on the daily timeframe, shows that the pair has not been able to rally and break through the Kumo Cloud. Instead of breaking through the Kumo Cloud, the pair experienced a trend reversal when it was about to touch the Kumo, […]
New Zealand Inflation Expectations Plummet Amid Lingering Economic Woes
New Zealand Inflation Expectations Plummet Amid Lingering Economic Woes. Amidst a protracted economic downturn in New Zealand, inflation expectations have taken a notable downturn, alleviating some of the pressure on the Reserve Bank of New Zealand (RBNZ) to implement further interest rate hikes. According to data released by the RBNZ on Monday, expectations for inflation […]
UKOUSD – 10 May 2024
UKOUSD 10 May 2024 Analysis of the UKOUSD on the weekly timeframe shows that the commodity briefly tried to rally before it finally returned to a bearish trend at the end of last month, which took it inside the Kumo Cloud. However, at the beginning of this month, a bullish candlestick signal was seen which […]
Bank of England Maintains Key Rate
Bank of England Maintains Key Rate. In a widely anticipated decision, the Bank of England opted to maintain its key interest rate at 5.25%, the highest level in 16 years, during its latest policy meeting on Thursday. This decision aligns with market expectations and signals stability in monetary policy amid ongoing economic uncertainties. However, the […]
XAGUSD – 9 May 2024
XAGUSD 9 May 2024 A look at the current market situation on XAGUSD on the daily timeframe shows that silver is currently sitting at 27,496 after successfully reversing the trend yesterday. Despite being above the Kumo Cloud, the stochastic chart shows that the commodity is above the 80 level, indicating that the market is overbought, […]
Reddit Stock Soars on Strong Revenue Growth
Reddit Stock Soars on Strong Revenue Growth. Reddit (RDDT) experienced a significant 15% surge in after-hours trading on Tuesday, approaching an opening price of approximately $57 per share for Thursday’s session following the release of its inaugural quarterly earnings report. The social media and chat platform reported impressive financial figures for the March quarter, with […]
USDNOK – 8 May 2024
USDNOK 8 May 2024 Analysis for USDNOK on the weekly timeframe shows that the pair is still holding above the Kumo Cloud despite a sustained trend change. The pair is experiencing a bullish trend and is at a price position of 10.94456, while still trying to continue rising towards the R2 line. Despite being in […]
Amazon to Invest $9 Billion in Singapore Cloud Expansion
Amazon to Invest $9 Billion in Singapore Cloud Expansion. Amazon.com Inc. has announced a substantial investment of $9 billion to expand its cloud computing infrastructure in Singapore over the next four years. This initiative reflects Amazon’s commitment to meeting the growing demand for cloud services and driving the adoption of artificial intelligence (AI) across the […]
USDSEK – 7 May 2024
USDSEK 7 May 2024 Analysis for USDSEK on the daily timeframe shows that the pair is still well above the Kumo Cloud and is experiencing a bullish signal seen in the candlesticks. The pair is experiencing a bullish trend after previously continuing to experience a bearish trend, which is reinforced by oversold conditions on the […]
Berkshire Hathaway Trims Apple Stake by 13% Amid Strong Q1 Cash Growth
Berkshire Hathaway Trims Apple Stake by 13% Amid Strong Q1 Cash Growth. Warren Buffett’s Berkshire Hathaway saw its sprawling stock portfolio decrease to $336 billion in the first quarter following a $20 billion divestment of stocks, as indicated by the company’s recent earnings report. During the first quarter, Berkshire Hathaway scaled back its significant Apple […]
USDJPY – 6 May 2024
USDJPY 6 May 2024 Analysis for USDJPY on the daily timeframe shows that the pair has just experienced a trend reversal after a continuous bearish trend. The pair is currently above the Kumo Cloud and there seems to be oversold saturation on the Stochastic indicator, which indicates that the bullish trend may continue. This stronger […]
NVIDIA’s AI Growth Accelerates as Tech Giants Invest Heavily in H100 GPU
NVIDIA’s AI Growth Accelerates as Tech Giants Invest Heavily in H100 GPU. NVIDIA Corp is gearing up to unveil its first-quarter earnings, with the company’s AI technology making significant strides in the tech industry. Major players in the technology sector are making substantial investments in NVIDIA’s AI infrastructure, demonstrating growing demand and adoption. The AI […]
USDSGD – 3 May 2024
USDSGD 3 May 2024 Analysis for USDSGD on the daily timeframe shows that the pair has been reversing to bearish since the end of last month until today. Although it is still well above the Kumo Cloud on the ichimoku indicator, the chart on the Stochastic also shows a decline towards the 20 level. This […]
OECD Upgrades Global Growth Projections for 2024 and 2025
OECD Upgrades Global Growth Projections for 2024 and 2025. The Organisation for Economic Cooperation and Development (OECD) has raised its projections for global economic growth in 2024 and 2025, indicating a more positive outlook compared to previous months. This upward revision is primarily driven by robust economic activity in the United States (US), supported by […]
XAUUSD – 2 May 2024
XAUUSD 2 May 2024 Analysis for XAUUSD on the daily timeframe shows that gold prices have been on the decline after hitting a high of 2392.17 in the middle of last month. However, the commodity is still well above the Kumo Cloud despite several trend changes. Currently, the Stochastic indicator is showing a declining graph […]
Fed Holds Rates Amid Strong Job Growth
Fed Holds Rates Amid Strong Job Growth. The Federal Reserve noted strong job gains and ongoing economic expansion but highlighted persistent challenges in tackling inflation, opting to leave interest rates unchanged at 5.5% and pushing back against expectations for rate cuts as previously signaled. The Federal Open Market Committee (FOMC) acknowledged the ongoing struggle against […]
NZDUSD – 1 May 2024
NZDUSD 1 May 2024 Analysis for NZDUSD on the weekly timeframe shows that the pair is still below the Kumo Cloud. Despite several attempts to rally, the pair experienced another trend reversal that brought the movement towards a bearish direction. In addition, the pair is also below the 0.00 level on the MACD (Moving Average […]
Australian Manufacturing Sector Shows Strong Improvement
Australian Manufacturing Sector Shows Strong Improvement. Activity in Australia’s manufacturing sector demonstrated robust improvement in April, marking a positive shift from the previous month. The seasonally adjusted Judo Bank Australia Manufacturing Purchasing Managers Index climbed to 49.6 in April, up from 47.3 in March. While this uptick suggests a better performance, it also indicates a […]
USDCNH – 30 Apr 2024
USDCNH 30 Apr 2024 Analysis for USDCNH on the daily timeframe shows that the pair is still experiencing the sideways movement that started early last month. Despite being above the Kumo Cloud, the pair does not seem to be showing any significant change in its trend. The pair briefly dropped to almost touch the Kumo […]
Nasdaq Futures Rise on Stellar Earnings, Investor Confidence
Nasdaq Futures Rise on Stellar Earnings, Investor Confidence. Futures linked to the Nasdaq Composite (IXIC) surged by 0.4% as investors exhibited optimism, showing a preference for tech companies in the upcoming week. This renewed surge in buying activity is expected to build upon the Nasdaq’s impressive performance on Friday, where the tech-heavy index surged by […]
GBPAUD – 29 Apr 2024
GBPAUD 29 Apr 2024 Analysis for GBPAUD on the H1 timeframe shows that the pair continues to experience a bearish trend until the price position of 1.90513. The chart on the MACD (Moving Average Convergence Divergence) indicator is also below the 0.00 level, indicating that the bearish momentum is still quite strong. This indicates that […]
Japanese Yen Weakens to 1990s Low Against US Dollar
Japanese Yen Weakens to 1990s Low Against US Dollar. The Japanese yen weakened to its lowest level since 1990 on Monday (April 29, 2024), breaching the psychological threshold of 160 yen per US dollar, according to Bloomberg. The yen’s exchange rate depreciated by 1.2% to reach 160.17 per US dollar. This decline reflects a bearish […]
EURCHF – 26 Apr 2024
EURCHF 26 Apr 2024 Analysis for EURCHF on the daily timeframe shows that the pair has returned to a bullish trend after experiencing a trend reversal the previous day. The pair is above the Kumo Cloud and occupies a price position of 0.97885, there is also a bullish signal on the candlestick. However, the Stochastic […]
Bank of Japan Holds Interest Rates Steady
Bank of Japan Holds Interest Rates Steady. The Bank of Japan decided to maintain its interest-rate target unchanged on Friday, maintaining the overnight call rate within the range of 0% to 0.1%. This decision follows a recent rate increase in March, which marked the first such adjustment in 17 years. The central bank’s move comes amid […]
USDJPY – 25 Apr 2024
USDJPY 25 Apr 2024 analysis for USDJPY on the weekly timeframe shows that the pair has continued to strengthen since experiencing a trend reversal at the beginning of last month. The strong bullish trend managed to take the pair to a price position of 155.524 and above the Kumo Cloud. However, it should be noted […]
Canadian Retail Sales Remain Stagnant Amid Economic Uncertainty
Canadian Retail Sales Remain Stagnant Amid Economic Uncertainty. In Canada, retail sales remained stagnant for the second consecutive month, signaling ongoing consumer reluctance to spend. Statistics Canada reported that retail receipts showed no change in March, following a slight 0.1% decline in February. This trend aligns with expectations for the central bank to consider interest […]
Candlestick Trading Mastery: Beyond the Basics
Candlestick Trading Mastery: Beyond the Basics Understanding and efficiently utilizing cross-currency pairs is essential for any trader looking to broaden their trading horizons. Fortune Prime Global (FPG), as a leading ECN broker, provides valuable insights into how these pairs operate and how they can be effectively integrated into your trading strategy. What are Cross-Currency Pairs? […]
AUDUSD – 24 Apr 2024
AUDUSD 24 Apr 2024 Analysis for AUDUSD on the Daily timeframe shows that the pair has managed to rally since the beginning of this week, taking the pair to a price position of 0.65184. Having experienced a trend reversal since touching S2 last week, the pair is now rallying towards S1. However, it should be […]
ECB Considers Interest Rate Cut Amidst Inflation Outlook
ECB Considers Interest Rate Cut Amidst Inflation Outlook. In recent statements from European Central Bank (ECB) officials and insights from the Federal Reserve, the possibility of interest rate adjustments looms amidst evolving inflationary pressures and economic conditions. Joachim Nagel, a member of the ECB’s Executive Board and President of Bundesbank, hinted at the prospect of […]
Gold Prices Fall as Middle East Tensions Ease
Gold Prices Fall as Middle East Tensions Ease. Gold prices have once again declined after several weeks of significant gains. This decline comes as a direct response to the easing tensions in the Middle East, a region that often triggers increases in gold prices. Gold prices plummeted by 1% on Monday, April 18, 2024, following […]
GBPUSD – 23 Apr 2024
GBPUSD 23 Apr 2024 Analysis for GBPUSD on the daily timeframe shows that the pair has been trending bearish since the beginning of this month, which resulted in the price dropping to 1.23476 on Monday. Although the price is currently below the Kumo Cloud, there is a bullish signal today. This phenomenon is supported by […]
EURUSD – 22 Apr 2024
EURUSD 22 Apr 2024 In analysis for EURUSD on the weekly timeframe shows that the pair has not managed to show any significant movement. The price is still moving in a range between the R1 and R2 resistance levels, but has shown bullish signals after previously experiencing a bearish trend. The Stochastic indicator also shows […]
China Maintains Benchmark Lending Rates Amid Economic Recovery Signs
China Maintains Benchmark Lending Rates Amid Economic Recovery Signs. China’s central bank announced on Monday that it would maintain its benchmark lending rates, a move expected by the market following recent policy rate stability amidst signs of economic recovery. According to the People’s Bank of China, the one-year loan prime rate remains at 3.45%, while […]
The Role of Central Banks in Forex Markets: A Trader’s Guide
The Role of Central Banks in Forex Markets: A Trader’s Guide Central banks play a pivotal role in shaping Forex markets, impacting currency values through monetary policy decisions, interest rate changes, and market interventions. Traders, including those using Fortune Prime Global (FPG) as their broker, need to understand these impacts for informed decision-making. Join Now […]
BTCUSD – 19 Apr 2024
BTCUSD 19 Apr 2024 In analysis for BTCUSD on the weekly timeframe shows that this crypto is having a hard time bouncing back after last week’s decline. It can be seen that the market is still in a sideways trend, with prices not experiencing any significant movement. The Stochastic indicator also shows that the market […]
Solana and Ethereum Lead Losses as Bitcoin Struggles
Solana and Ethereum Lead Losses as Bitcoin Struggles. This week has seen a surge in bearish sentiment, particularly affecting major cryptocurrencies. Solana has incurred a significant loss of 20%, while Ethereum’s value has dropped by 15%. Bitcoin experienced a brief dip below $60,000 on Wednesday, hitting a one-month low, though resilient buyers swiftly intervened, pushing […]
USOUSD – 18 Apr 2024
USOUSD 18 Apr 2024 In the analysis of USOUSD on the weekly timeframe, despite previously experiencing a strong bullish trend, the commodity is again experiencing significant bearish pressure, causing the price to touch the Kumo Cloud again. The Stochastic indicator adds confirmation to this situation by showing the market has entered into an overbought zone, […]
The Fed Cautious Amidst Strong Economy
The Fed Cautious Amidst Strong Economy. Key figures at the United States Federal Reserve (The Fed) have stressed the importance of exercising caution in current monetary policy decisions, citing the favorable economic landscape. Loretta Mester, President of the Cleveland Fed, emphasized the need for prudence, indicating that while inflation is expected to moderate, additional data […]
EURNZD – 17 Apr 2024
EURNZD 17 Apr 2024 In the analysis of EURNZD on the daily timeframe, it can be seen that the pair is experiencing a trend reversal after experiencing a bullish trend since the beginning of this week. The pair bounced down after touching the resistance line, bringing the pair to a price position of 1.79941 today. […]
IMF Forecasts Stable yet Sluggish Global Economic Growth for 2024
IMF Forecasts Stable yet Sluggish Global Economic Growth for 2024. The IMF forecasts that global economic growth will remain stable yet slow in 2024. In its latest projections, the IMF anticipates real global Gross Domestic Product (GDP) growth to reach 3.2% for both 2024 and 2025, unchanged from 2023. This growth projection has been revised […]
EURCHF – 16 Apr 2024
EURCHF 16 Apr 2024 In the analysis of EURCHF on the weekly timeframe, it was seen that the pair experienced a trend reversal to bearish after a long period of bullish trend since February. Failing to move up and out from inside the Kumo Cloud, the pair experienced a decline that brought it to a […]
JPMorgan’s Stock Plummets Despite Strong Earnings
JPMorgan’s Stock Plummets Despite Strong Earnings. Despite a notable 6% increase in first-quarter earnings and robust revenue figures, investors directed their focus towards JPMorgan’s stagnant growth projections for the year ahead. The banking giant faced a significant setback as its stock tumbled by 6.5% on Friday, marking the sharpest one-day drop since 2020. However, despite […]
EURCNH – 15 Apr 2024
EURCNH 15 Apr 2024In the analysis of EURCNH on the daily timeframe, it can be seen that the pair experienced a significant drop, bringing the pair down below the Kumo Cloud in the middle of last week and bringing it down to the price position of 7.73234. However, at today’s open, there is a bullish […]
PBOC Prefers To Hold Mold Interest Rates
PBOC Prefers To Hold Mold Interest Rates. People Bank of China (PBOC) decided to maintain its monetary policy, namely by holding its benchmark interest rate on Monday (15/4/20024). The PBOC said it maintained the lending interest rate at 2.50% for a one-year medium-term lending facility (MLF) worth 100 billion yuan (US$13.82 billion) to several financial […]
XAGUSD – 12 Apr 2024
XAGUSD 12 Apr 2024 In the analysis of XAGUSD on the weekly timeframe, it can be seen that silver continues to experience a significant bullish trend, taking it well above the Kumo Cloud and successfully reaching the price position of 28,759. Despite being in a saturated zone on the Stochastic Indicator, the moving average chart […]
ECB Holds Rates Steady Amid Global Uncertainty
ECB Holds Rates Steady Amid Global Uncertainty. The European Central Bank (ECB) decided to maintain its record-high interest rates amidst ongoing inflationary pressures, sparking uncertainty among investors regarding potential rate cuts by major central banks in the near future. The unexpected rise in U.S. inflation data caused a shift in market sentiment, delaying expectations for […]
USDNOK – 11 Apr 2024
USDNOK 11 Apr 2024 In the analysis of USDNOK on the weekly timeframe, it can be seen that the pair is slightly above the Kumo Cloud and is still moving between the R1 and R2 levels. At this moment, the pair is trading at a price position of 10.85140 after experiencing a bullish trend in […]
Bank of Canada Maintains Interest Rates
Bank of Canada Maintains Interest Rates Amid Inflation Uncertainty. On Wednesday, the Bank of Canada opted to maintain its benchmark interest rate at 5% for the sixth consecutive time. The decision stems from the bank’s stance that it must be confident in the sustainability of the downward trend in inflation before considering any rate reductions. […]
USDSEK – 10 Apr 2024
USDSEK 10 Apr 2024 In the analysis of USDSEK on the weekly timeframe, it can be seen that the pair has not managed to rally back and break through the Kumo Cloud. Although it tried to initiate a bullish trend last month, the pair declined again when it was about to touch the Kumo Cloud, […]
Tesla’s Share Increases by 5%
Tesla’s Share Increases by 5%. Even though the sharp losses from earlier in the year were mostly erased by the shares of the EV maker, it was still a minor dip. On Monday, Tesla’s stock increased as a wave of news excited investors. Following an unexpectedly poor first quarter, the electric vehicle manufacturer saw a […]
USDJPY – 9 APR 2024
USDJPY 9 APR 2024 In the analysis of USDJPY on the daily timeframe, it can be seen that the pair is still experiencing a slight sideways movement below the resistance line. Nonetheless, the price is still holding above the Kumo Cloud on the Ichimoku Indicator, signaling that the bullish trend still remains strong. In addition, […]
The Fed Rate Cut Expectations Declining
The Fed Rate Cut Expectations Declining. Market participants have reduced speculation about how much the Federal Reserve will cut interest rates in 2024. These expectations dropped to the lowest level since October, LSEG data showed on Monday (8/4/2024). Fed funds futures contracts for December on Monday reflected expectations of a rate cut of about 60 […]
