NZD/JPY hit its highest levels since November 2021 at 79.80 on Thursday, with commodity-linked currencies such as the kiwi outperforming. The kiwi has benefited from higher commodity prices, which are positive for New Zealand’s terms of trade. It looks like the 80.00 level could very well be there for the NZD/JPY in the days ahead. […]
Tag: Raw Materials
NZD/USD at session highs near 0.6870, all eyes point to 0.6900
The NZD is outperforming in tandem with its commodity-sensitive G10 peers, despite little commodity-inspired price action on the day. NZD/USD is at session highs near the 0.6870 area and points to a break towards resistance above 0.6900. The NZD is outperforming some of its more commodity-sensitive G10 peers like the Aussie and Loonie on Thursday, […]
Release of more oil reserves could be considered
In another effort to lessen the impact of the US ban on imports of Russian oilUS State Department senior adviser Amos Hochstein said early Wednesday that The United States and other nations would consider releasing more barrels of oil from reserves, if necessary.. Featured Comments “The Biden administration continues trying to mitigate the rising cost […]
Markets calm as risk aversion takes a breather
This is what you need to know to trade today Wednesday March 9: The dollar continues to consolidate its gains in the early hours of Wednesday as investors move to the sidelines while awaiting further developments around the conflict between Russia and Ukraine. Markets remain cautious, but safe-haven assets struggle to pick up steam midweek. […]
GBP/JPY stabilizes at 151.50, with bears still expecting an eventual drop to 149.00 support
GBP/JPY has enjoyed a much needed stabilization at 151.50 as global equities consolidate, having taken a beating in previous sessions. Bears eyeing an eventual move to 149.00 support are unlikely to be discouraged after Tuesday’s modest bounce. Although Tuesday has not been the change that some of the bulls in the GBP/JPY, the pair has […]
WTI returns to multi-year highs, Biden expected to announce Russia energy import ban
Oil has surged higher in recent trade in anticipation of Biden announcing an outright ban on Russian energy imports. WTI at one point rose as high as $126.00 again, but has since dropped back to $124.50. crude oil prices have soared in recent trading in anticipation of US President Joe Biden announcing a total ban […]
No lasting change in risk sentiment prior to mid-level data
This is what you need to know to trade today tuesday march 8: The greenback weakened slightly against its main rivals early in the US session on Monday, but had no difficulty regaining its strength with safe-haven flows continuing to control markets. After rising 0.75% on Monday, the US Dollar Index appears to have entered […]
AUD/USD pulls back along with commodities from 0.7450 to 0.7350, geopolitics still in the spotlight
AUD/USD has pulled back sharply lower from 0.7445 towards 0.7355 along with the price action in the commodity space. Russia/Ukraine is the driving force and with a de-escalation unlikely and tougher Western sanctions likely, upside risks to commodities remain. Longer-term bulls are likely to target Q4 2021 highs in the 0.7550 area over the next […]
Dollar Strengthens as Investors Keep Focus on Geopolitics
This is what you need to know to trade today monday march 7: The markets have started the new week with a tone of aversion to risk after the evolution of the weekend around the conflict between Russia and Ukraine. Safe-haven assets continue to find demand on Monday and major global stock indices suffer heavy […]
XAU/USD falls to $1,930, Ukraine-Russia will hold second round of talks
Gold fell for the first time in the week, down 0.70% amid a better market mood, in the second round of talks between Russia and Ukraine. US Treasury yields rise, and the US dollar follows. XAU/USD Technical Outlook: Bullish bias, although it could extend its downside move before resuming the uptrend. The price of gold […]
