Forex

Last week was negative due to broader risk aversion, despite Friday’s bounce, with the same mood persisting at the beginning of the current one

Eurozone Consumer Price Index did not offer any surprises and the common currency struggles to stay in positive territory, following Wednesday’s rebound

Inflation in the UK jumped to its highest level since the 1990s, which works in favor of monetary tightening expectations, with the pound finding support

The pair advanced last week, but today it runs its third negative day, as aggressive rate hike bets for the Fed and higher US yields support the greenback

The central bank of Japan (BoJ) maintained policy settings and upgraded inflation forecasts, while higher US treasury yields support the pair

The cable comes from a four-week profitable streak, but on Friday it posted losses and today it is under more pressure

The left chart shows that FXCM's dollar basket, USDOLLAR, is positioned in the weak area on the daily time frame. I.e., between the lower blue and red bands. The hourly time frame has retraced to the 50% level of its previous impulse move down. Its stochastic has already turned negative and the EMAs are threatening to cross bearishly (aqua ellipses). If the stochastic continues down and hits the 20 level…

The pair draws towards the conclusion of a very good week, having conquered key technical levels

The Aussie extends this week’s gains after two days of market moving events from the US, which worked against the greenback

Since the end of August last year, the EURUSD has been under pressure. In this regard, it has charted a lower peak followed by a lower trough. November marks the last significant low (aqua ellipse). Since then, the EURUSD has been resilient and has ground its way higher. However, it now approaches the 50% retracement of its last leg down. Moreover, price action resembles a classical charting pattern of a…

Fed Chair Jerome Powell is due to testify in front of the Senate Banking Committee today at 3:00 pm GMT. Mr. Powell is seeking confirmation of his reappointment as Chair of the Federal Reserve. Given that inflation is running at its fastest pace in almost 40 years, it is expected that a large part of the proceedings will be dedicated to reaffirming that the Fed will use its available resources…