Gold Price (XAU/USD) Moves Higher but will the Rally Last?
A hawkish tilt by the Bank of Japan sent the US dollar lower overnight allowing the precious metal to test a prior zone of resistance.
Japanese Yen Jumps on BoJ Move, USD/JPY Crumbles to a 4-Month Low
The Bank of Japan (BoJ) sent the Japanese Yen spinning higher after it loosened its yield curve control (YCC) policy, giving the market a hawkish policy hint.
GBP Forecast: Pound Vulnerable to Both USD and Euro
The pound is continuing to exhibit signs of weakness against the USD and EUR on the basis of central bank divergence leaving GBP exposed to further depreciation.
AUD/JPY IG Client Sentiment: Our data shows traders are now net-long AUD/JPY for the first time since Feb 08, 2022 when AUD/JPY traded near 82.54.
Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger AUD/JPY-bearish contrarian trading bias.
GBP/JPY IG Client Sentiment: Our data shows traders are now net-long GBP/JPY for the first time since Sep 26, 2022 when GBP/JPY traded near 154.66.
Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger GBP/JPY-bearish contrarian trading bias.
USD/JPY IG Client Sentiment: Our data shows traders are now at their most net-long USD/JPY since Dec 02 when USD/JPY traded near 134.32.
Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger USD/JPY-bearish contrarian trading bias.
EUR/USD Eyes Gains as US Dollar Retreats and Euro Area Data Continues Improvement
EUR/USD Bounces off support yet low liquidity could cap any significant gains. Could we remain rangebound ahead of the New Year?
Crude Oil Eyeing Falling Wedge as Gold Prices May Reverse, Where to From Here?
Crude oil continues trading within a Falling Wedge chart pattern. Meanwhile, gold might be readying to reverse lower. What are the key levels to watch in the sessions ahead?
US Dollar Benefits as BoJ Capitulates to Tighter Policy, Sinking Risk Assets
The US Dollar ascendency got back on track against most currencies except the Japanese Yen after the Bank of Japan surprisingly tightened monetary policy today.
USD/JPY IG Client Sentiment: Our data shows traders are now net-long USD/JPY for the first time since Dec 05, 2022 when USD/JPY traded near 136.57.
Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger USD/JPY-bearish contrarian trading bias.