The president of the New York Federal Reserve and member of the FOMC, John Williams, said on Tuesday that the central bank needs to be data-dependent and adjust its actions as circumstances warrant, Reuters reported. The Fed will move expeditiously to bring the Fed Funds target to more normal levels this year, he said, echoing […]
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Silver Price Analysis: XAG/USD bears in control below $22.00
Silver price gives back its modest intraday recovery gains and approaches the yearly low again. The break below the $22.00 level could have already set the stage for further losses. The oversold of the RSI (14) on the daily chart warrants some caution before opening new bearish positions. Silver price (XAG/USD) struggled to capitalize on […]
EUR/JPY Price Analysis: More consolidation on the table
EUR/JPY remains on the defensive so far this week. Bullish attempts target 2022 highs around 140.00. EUR/JPY extends Monday’s decline and retests the 137.00 region on Tuesday. The cross appears to be back to previous consolidation for the time being. The breakout of this phase is expected to shift attention to a possible visit to […]
EUR/USD finds support above 1.0530, holds range
Equity markets bounce back after crash, contributing to some calm. EUR/USD remains in consolidation mode around 1.0550. The dollar remains firm in the market, without significant correction. The EUR/USD is trading flat from Monday’s close around 1.0555/60. It previously found support at the 1.0530 area from where it rebounded. In a broader perspective, the pair […]
USD/CHF continues to advance and approaches parity, Swiss franc weakens
Swiss franc weakened even despite risk aversion. Divergence between the Swiss National Bank with the rest hits the CHF. USD/CHF targets 1,000, with support at 0.9890. The USD/CHF continues with the consistent rally and rises for the 20th time on Tuesday, of the last 22 days. The pair reached as high as 0.9974, the highest […]
Oil: WTI falls to two-week lows and looks vulnerable
The bad moment in the global financial markets plays against oil. Concerns about the demand for crude pull the price down. It follows the European Union’s plan to ban purchases of Russian oil. Oil prices are falling on Tuesday, adding to Monday’s red. In this way they accumulate a decrease greater than 7% in just […]
USD/JPY Price Analysis: Stuck in a range above the bull line from two weeks ago
USD/JPY is trading in a range during the first half of the European session on Tuesday. The mixed technical picture prevents investors from opening aggressive directional positions. In addition, investors appear to be awaiting the latest US CPI consumer inflation numbers on Wednesday. The USD/JPY pair has no clear direction on Tuesday, oscillating between tepid […]
AUD/USD struggles to gain significant traction and consolidates around 0.6950
AUD/USD has rebounded from its lowest level since July 2020, reached earlier this Tuesday. Risk appetite and declining US Treasury yields weigh on the USD and offer some support for the pair. Expectations of an aggressive Fed rate hike and recession fears benefit the USD and limit the pair’s rise. The pair AUD/USD experienced good […]
Gold Price Forecast: XAU/USD moves higher but lacks bullish conviction
A drop in US bond yields weighs on the USD and helps gold regain positive traction on Tuesday. Expectations of an aggressive Fed rate hike and risk appetite prevented the yellow metal from gaining ground. Market attention will continue to be focused on the release of Wednesday’s US consumer inflation figures. The gold price (XAU/USD) […]
NZD/USD hangs on to modest recovery gains below 0.6350, lacks continuation
NZD/USD bounces back modestly from its lowest level since June 2020, hit earlier on Tuesday. Softer US bond yields and a positive risk tone weigh on the safe-haven USD and offer support for the pair. Expectations of an aggressive Fed rate hike and recession fears should limit the USD’s decline and cap the pair’s rise. […]
