Forex

The price of oil may push towards the 50-Day SMA ($92.76) if it clears the opening range for September.

The Japanese Yen gained on Wednesday as the Bank of Japan hinted at currency intervention. Will the BoJ keep policy loose in the interim? USD/JPY is eyeing a key trendline.

The New Zealand Dollar paced higher against the US Dollar after the island nation posted surprisingly strong second-quarter GDP numbers. An easing in Chinese Covid lockdowns is supporting risk taking.

The price of gold may continue to track the negative slope in the 50-Day SMA ($1740) as it reverses ahead of the moving average.

After struggling for direction for much of the day, U.S. stocks pushed higher in late trading, but finished the day off the session’s best levels.

The major CAD-crosses are leaning towards more near-term weakness for the Loonie.

Oil prices rally and extend their rebound that began last week, approaching a key resistance near the $91.00 level. Price reaction in this area could determine the near-term technical outlook.

Stocks are rebounding Wednesday after Tuesday’s dismal session.

The Dollar rally may be vulnerable as a four-week rally stalls near uptrend resistance. The levels that matter on the USD/JPY short-term technical charts.

Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger USD/CAD-bullish contrarian trading bias.