Joshua

Annual inflation remains at 6.9%, core inflation falls to 5.8%. Consumer Price Index rises 0.7% in October. The USDCAD without significant changes, remains around 1.3750. The Consumer’s price index (CPI) in Canada registered an advance of 0.7% in October, in line with expectations. The annual rate held at 6.9%, which is the lowest reading since […]

The head of economic policy at the European Central Bank (ECB), Pablo Hernández de Cos, He said on Wednesday that the rise in inflation is being very persistent and that it has also widened, Reuters reported. key statements “We still have some way to go with rate hikes, the specific level that interest rates need […]

Mexican peso remains firm against the dollar. USDMXN without moving away from 19.30, maintains a bearish bias. More data is coming from the United States. The USDMXN is falling on Wednesday and remains in the recent range without moving away from 19.30, and without returning above 19.50. Persistent dollar weakness remains the key to the […]

The DXY extends Tuesday’s slide and loses 106.00 again. The next support to watch is the 200-day MA, near 105.00. The dollar index (DXY) remains under pressure and holds trade in the low area around 106.00 mid-week. If the selling trend picks up pace, the index could go to test the 200-day SMA today at […]

EURJPY rises to weekly highs near 145.50 on Wednesday. Further gains could target November highs around 147.00. EURJPY quickly fades Tuesday’s pullback and recaptures the 145.00 barrier and beyond, hitting fresh highs on Wednesday. If the corrective bounce gathers strength, the cross should face initial resistance at the November high so far at 147.11 (9 […]

USDCAD is again approaching a nearly two-month low amid renewed selling bias around the dollar. A positive risk tone and expectations for less aggressive Fed rate hikes weigh on the dollar. An intraday rally in oil prices benefits the CAD and also puts pressure on the pair Now traders await the Canadian CPI report and […]

The DXY Dollar Index has corrected almost 40% of the 2021-2022 rally in just a few weeks. In the opinion of Kit Juckes, chief global currency strategist at Société Générale, DXY looks poised to peak before falling below 100. DXY looks like it will head for a 90-100 range. “The fundamentals of the trend reversal […]

Metals gain momentum on a weak dollar and lower Treasury yields. Gold is close to this year’s highs. Gold gained momentum in the last few hours and rose above $1,780, approaching recent highs and keeps bullish tone intact. The dollar Weakness and a drop in recent hours in Treasury yields pushed XAUUSD higher. The DXY […]

USDJPY fails to capitalize on modest intraday gains amid renewed USD sell bias. The failure before the 140.80-141.00 confluence favors the bears. Acceptance below the 61.8% Fibonacci should pave the way for further near-term losses. The USDJPY pair gains some positive traction on Wednesday and moves away from its lowest level since August 29, around […]

EURGBP finds decent support ahead of the 0.8700 level and regains positive traction on Wednesday. The recent range-bound price action constitutes the formation of a rectangular pattern on the daily chart. The technical setup favors the bulls and supports the prospects for an eventual breakout. The EURGBP attracts new buying on Wednesday and reverses some […]